COMMERCE 2MA3 Chapter Notes - Chapter 7: Happy Meal, Focus Group, Projective Test

• School: McMaster University
• Department: Commerce
• Course: COMMERCE 2MA3
• Professor: Bharat L Sud

Document Summary

Marketing research: a set of techniques and principles for systematically collecting, recording, analyzing, and interpreting data that can aid decision makers involved in marketing goods, services, or ideas. Step 1: define the research problem and objectives. Because research is both expensive and time consuming, it is important to establish in advance exactly what problem needs to be solved. Correctly defining the problem is one of the most important elements of the marketing research process. If you define the problem incorrectly, you will more than likely end up with the wrong solution even though the rest of the process is done perfectly. On the contrary, if you define the problem correctly but fail to carry out the rest of the process correctly, you may end up with results that may be useless or even misleading. Once the research problem is defined, marketers must specify the research objectives or questions to be answered.