Marketing Research Exam 1

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Marketing Research

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is the systematic and objective identification, collection, analysis, dissemination, and use of information,for the purpose of improving decision making related to the identificationand solution of problems and opportunities in marketing

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Problem Identification Research

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undertaken to help identify problems that are not apparent on the surface and yet exist or are likely to arise in the future.

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Problem solving Research

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research undertaken to help solve specific marketing problems.

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6 steps of the Marketing process

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1. Define the problem

2. Develop an Approach to the Problem

3. Formulate Research Design

4. Do field work/ collect Data

5. Preparing and analyzing data

6. Preparing and presenting the report

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Marketing Research Industry

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internal and external suppliers who provide marketing research services

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Internal suppliers

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Research department within a firm

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External suppliers

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outside firms hired to supply marketing research sevices

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2 Classifications of External suppliers

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1. Full-service suppliers

2. Limited-service suppliers

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Full-service Suppliers

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offer the entire ranger of marketing research activities and perform all six steps of the marketing research process

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Limited-service suppliers

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specialize in one or a few steps of the marketing research process

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Problem Definition

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involves stating the problem confronting the managers and the marketing research problem that the researcher will address

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Marketing research problem

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the problem that the researcher must investigate

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Analytical model

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set of variables related to a specified manner to represent all or a part of some real system or process

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Research Design

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Lays the foundation of conducting research

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2 types of Research Design

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1. Exploratory research

2. conclusive research