RSM250H1 Lecture Notes - Lecture 2: Kfc, Test Market, Secondary Source
Document Summary
Steps in the marketing research process: define the problem (or opportunity) Often, companies wrongly define the problem which ruins marketing efforts. For example, coca cola wrongly defined the problem as the taste of their coke rather than how to gain market share over pepsi: design the research. This outlines what data you are going to gather and from whom, how and when you will collect the data, and how you will analyze it once it has been obtained. Data can be obtained from 2 types of sources: primary (done yourself) or secondary (taken from others). Secondary data, if available, is preferred because this saves time and money that would instead be spent on collecting primary data. However, the quality and bias of a secondary source must be analyzed before using the data. There are 3 types of research designs: exploratory research design, descriptive research design, and casual research design (experiments).
