MKTG101 Lecture Notes - Lecture 3: Simple Random Sample, Sampling Error, Ceteris Paribus
Chapter 3 (Market Research)
Data types
• “eodary data
Data originally gathered or recorded for a purpose other than to address the current market
research problem, information that is already available. Sales records or customer profiles
from business documents or information from ABS
• Priary data
Data collected specifically for the current market research project.
Typical marketing research projects
• Coept test: To deterie if a e produt idea or oept is attratie to potetial
customers
• Copy test: To deterie if the iteded essage i a ad is being communicated
effectively
• Prie resposieess: To gauge the effet of a prie hage ould hae o dead for a
brand
Typical marketing research projects
• Market share aalysis: To deterie a fir’s proportio of the total idustry sales of a
product
• “egetatio studies: To idetify distit groups ithi the total arket for a partiular
product
• Custoer serie/satisfatio studies: To oitor ho ustoers feel aout a
organisation and its products and services
Market research
• Market research involves five major components:
o defining the research problem
o designing the research methodology
o collecting data
o analysing data and drawing conclusions
o presenting the results and making recommendations.
Qualitative research
Most often used in exploratory research.
Research intended to obtain rich, deep and detailed information about the attitudes and
emotions that underlie behaviours
Qualitative research techniques include interviews and focus groups.
They are Useful for:
• Uderstadig customer needs
• Ealuatig potetial e produts
• Testig promotional campaigns
• Uderstadig how customers use products
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Document Summary
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