BU352 Chapter Notes - Chapter 4: Panel Data, Simple Random Sample, Convenience Sampling
Document Summary
Marketing research: set of techniques & principles for systematically collecting, recording, analyzing, & interpreting data that can aid decision makers involved in marketing goods/services/ideas. info that help make segmentation, positioning, product, place, price, and promotion decisions. Key to understanding topics such as consumer and b2b buying behaviour, global marketing and cultural differences, new product development, branding, and customer service, and for assessing the effectiveness of pricing, promotions, and product and service delivery strategies. Canada"s market research industry is valued at just under a half-billion dollars. Non-profit organizations and governments also use research to serve their constituencies better. A project might involve a simple analysis of data that the firm already has, or it could be an in-depth, expensive assessment. Because research is both expensive and time-consuming, establish in advance exactly what information is required to answer specific research questions, and how that info should be obtained.
