MKTG445 Market ResearchObejcti

objectives of market research

1. discover new information ★

2. build database

3. establish, modify, alter the product/service witht eh infromationn from step 2.

4. verify existing knowledge

how/why we use market research

1. communicate with our target market(s) ★

2. establishing or altering the product/service

3. determining the place of distribution

4. how to define the target market (or who the buyer is)

proposal/approval of the market research

1. feasibility (timeline and budget) ★

2. clear and understandable

3. significant (impact)

4. suitable or of interest of the company

most common instrument

1. survey ★

2. database

3. interview questions

4. internet

most common technique

1. descriptive research ★

2. experimental research

3. conceptual research

4. theoretical research

most common setting

1. on-site★

2. off-site (digital space)

3. internet

4. focus groups/interviews

most common research design

1. static group comparison

2. one shot case study

3. pretest/post test★

4. time series