BUAD 307 Chapter Notes - Chapter 10: Sampling Frame, American Marketing Association, Panel Data
3 Oct 2016
School
Department
Course
Professor
Document Summary
Identify the 5 steps in the marketing research process. Step 1: defining the objectives and research notes. Complexity of project company undertakes depends on how much time and resources is available, as well as how much in-depth knowledge they need. Objective drives type of data needed and after they can determine the type of research necessary to collect that data. Secondary data pieces of information that have been collected prior to the start of the focal research project. Primary data data collected to address specific research needs. Sample group of customers how represent the customers of interest in research study. Step 4: analyzing the data and developing insights. Data = raw number or other factual information, that alone, have limited value to marketers: interpreted data becomes valuable information. Step 5: developing and implementing an action plan. Analyst prepares results and presents them to the appropriate decision makers: allows them to create appropriate marketing strategies.
