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10 Cards in this Set
- Front
- Back
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marketing research- |
the process of collecting and analyzing information in order to recommend actions. |
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5 step marketing research approach |
1. define the problem 2. develop research plan 3. collect relevant information 4. develop findings 5. take marketing actions |
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1. define the problem- |
-set the research objectives -identify possible marketing actions
measure of success-criteria or standards used in evaluating proposed solutions to a problem. |
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2. Develop the research plan- |
-specify constraints -identify data needed for marketing actions -determine how to collect data |
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3. collect relevant information- |
-secondary data:facts and figures that have already been recorded prior to the project at hand -primary data:facts and figures that are newly collected for a project |
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Advantages and disadvantages of secondary data- |
advantages: (1) time saving (2) low cost disadvantages: (1) may be out of date (2) definitions or categories might not be quite right for the project. |
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4. develop findings- |
-analyze the data -present the findings |
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5. take marketing actions- |
-make action recommendations -implement the action recommendations -evaluate the results |
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common data collection methods- |
watching people: mechanical, personal, neuromarketing methods asking people: coming up with and testing ideas other sources: social media, panels and experiments, information technology, and data mining |
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NAICS Codes- |
North American Industry Classification System-provides common industry definitions for Canada, Mexico, and the United States |
