10 1 Notes Chapter 9 Marketing research process of planning collecting and analyzing data relevant to a marketing decision Functions of Marketing Research Descriptive gathering and presenting factual statements Diagnostic explaining data Predictive addressing what if questions Marketing Research Project Marketing research problem determine what information is needed Marketing research objective should be to provide insightful decision making information Management Decision Problem broad based problem that uses marketing research Types of Data Sources of Secondary Data Internal corporate information Government agencies Trade and industry associations Business periodicals News media Advantages of Secondary Data Saves time and money Aids in determining direction Comparison source Disadvantages of Secondary Data May not give adequate detailed info May not be on target Types of Data Primary Data Primary data information collected for the first time Advantages Answers a specific research question Data are current Source of data is known Secrecy can be maintained Disadvantages Can be very expensive Usually offset by the advantages Survey research researcher interacts with people to obtain facts opinions and attitudes Observation research relies of 4 types of observation 1 People watching people 2 People watching phenomena Ethnographic research study of human behavior in its natural context involves observation of behavior and physical setting Experiments used by researchers to gather primary data Experiment variables Price Package design Shelf space Advertising theme Advertising expenditures More than 90 of US marketing research companies conduct some form of online research Competitive intelligence
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