MKT 500 Lecture Notes - Lecture 2: Test Market, Longitudinal Study

• School: Ryerson University
• Department: Marketing
• Course: MKT 500
• Professor: Charles Janthur

Document Summary

Cmkt500 - lecture 2 and 3 - introduction to marketing research, Marketing research process, defining the problem and research objectives. Marketing research is a set of business practices designed to plan for and present an organization"s products or services in ways to build effective customer relationships . It is a combination of both primary and secondary research. 11 steps of the marketing research process and how they relate and lead into each other: Step 1: determine the need for marketing research, if required at all. There are times when research is not warranted and, thus, should not be undertaken either for lack of time, resources or inability to obtain credible information. Perform some background research: what went wrong, why did the product/service fail, how was it introduced into the market, what channels of distribution were used, apply the 4 ps of marketing.