Class 8 Marketing

Situational Research

to identify opportunities and threats and assess strengths and weaknesses

Decision Support Research

Segmentation, targeting, positioning

Product, price, place, promotion

Primary data

data that allows investigation of specific research data

Secondary Data

most helpful for situational market research

Confirmation Bias

looking for or using the statistics that only show desired results

Analyzing data

process of inspecting, cleaning, transforming, and modeling data with the goal of discovering useful information, suggesting conclusions, and supporting decision-making