MKTG 2800 Chapter Notes - Chapter 8: Data Mining, Neuromarketing, Internal Communications
7 Nov 2017
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Chapter 8 marketing research: from customer insights to actions. Market research the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions: markets conduct marketing research to reduce the risk of and thereby improve marketing decisions. Step 1 define the problem: set research objectives. Research objectives specific and measurable goals the decision maker seeks to achieve in conducting the marketing research. Measures of success criteria or standards used in evaluating proposed solutions to the problem. Step 2 develop the research plan: specify constraints, determine how to collect data. Constraints the restrictions placed on potential solutions to a problem. [example: limitations placed on the time and money available to solve the problem] New product concept a picture or verbal description of a product or service the firm might offer for sale. Step 3 collect relevant information: obtain secondary data, obtain primary data.
