MKT 100 Lecture Notes - Lecture 4: Focus Group, Ethnography, Herfindahl Index

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Khalil Rohani

Document Summary

Marketing research consists of techniques and principals for systematically collecting, recoding, analyzing, and interpreting data that can aid decision makers involved in marketing goods, services or ideas. Steps of marketing research: defining the objectives and research needs (not too broad and, designing the research project not too narrow, two types: secondary (books and research) and primary (in person interviews, data collection process, exploratory (qualitative) methods: In depth interviews: observation (ethnography) ii, focus group, projective technique, descriptive: seeks to quantify demand, experimental: testing cause- and- effect relationship, conclusive (quantitative) research, analyzing data, presenting results, executive summary, body, conclusions, limitations, supplements. Unit market share (%) = unit sales (#)/ total market unit sales. Revenue market share (%)= sales revenue ($)/ total market. If number is bigger than . 18, market is concentrated (no room for competition)