MKT 337 Chapter Notes - Chapter 8: Data Mining, Problem Set, Neuromarketing
Document Summary
The process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions. Barriers to get information such as consumer unwillingness. Decision: a conscious choice from among two or more alternatives. Research objectives are specific, measurable goals the decision maker seeks to achieve in conducting the marketing research. Provides ideas about a relatively vague problem. Generally involves trying to find the frequency that something occurs or the extent of a relationship between two factors. The most sophisticated, tries to determine the extent to which the change in one factor changes another one. Effective decision makers develop specific measures of success, which are criteria or standards used in evaluating proposed solutions to the problem. Differing research outcomes based on the measure of success lead to different outcomes to different marketing actions. However, defining the problem is one of the most difficult tasks. Identify specify constraints, identify data needed for marketing, determine how to collect data.
