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Marketing chapter 7

what is marketing research

set of techniques and principles for collecting, recording, analyzing and interpreting data that can help decision makers

5 steps of the marketing research process

define research problem and objectives, design the research plan, collect data, analyze data and develop insights, present action plan

what is secondary data

internal or external data collected prior to the start of the project

what is primary data

collected from focus groups, interviews, surveys and it addresses specific research needs

what is scanner data

quantitative research that uses data from a scanner scanning UPC codes at checkout

4 qualitative research methods

observation, social media, in-depth interview, focus groups

what is quantitative research

uses surveys, formal studies, scanner and panel data

what is an experimental research

manipulates one or more variables to determine which have an effect

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