mktg marketing research

marketing research definition

systematic collection, recording, analysis, & interpretation of data to aid in marketing decision making

marketing research process

1. define objectives & research needs

2. design research

3. collect data

4. analyze data & provide insights

5. develop & implement action plan

primary data

data observed, recorded, & collected for YOUR RESEARCH PROJECT

so primary to the research question you are asking now

secondary data

data both from inside firm and outside firm that is NOT FOR THE RESEARCH QUESTION AT HAND

secondary to the research question

data that already exists

primary data types

•Observational Research

•Focus Groups

•Survey Research

•Experiments

•Quasi-Experiments

internal secondary data

data warehouse & big data, data from inside the company

• database of consumer info

• database of financial info

• database of online & social media info

external secondary data types

data from outside the firm

1. Public and Inexpensive Data

2. Syndicated Data (data that requires )

3. Scanner Data (barcodes and stuff)

4. Panel Data (tracks a group of customers OVER TIME)

qualitative research

• observation

• in depth interviews

• focus groups

so broad open ended responses

quantitative research

• experiments

• survey

• scanner

• panel

uses numeric & structured responses that can be statistically tested

survey research

best for descriptive info like knowledge, attitudes, preferences

• most widely used primary data collection method

• cost effective

• con: can be unable or unwilling to answer

experimental research

tests cause & effect relationship while controlling all other variables

controlled manipulation of IV

random assignment of dependent variable (assign participants randomly)