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