11/2/2010 Exam 2
Last Modified: 2011-06-28
Descriptive-Gathering & presenting factual statements
Predictive-Attempting to estimate the results of a planed marketing decision
-Make better decisions
-Why are sales declining?
-How many potential customers?
-Retain customers by better understanding there needs.
-Understand the changing market place.
Note- The average fortune 200 company spends 11.5 million annually for in-house research.
-Determination of market characteristics.
-Market share analysis
-Competitive product studies
-New product acceptance
-Names and Logos
2. Design the Research
3. Conduct the Research
4. Analyze the data
5. Address the problem
Will the results matter?
Is it cost effective?
-Information collect first hand specific to your purpose.
-Surveys, Interviews, Experiments, Computers.
-Information collected previously
-Census data, Internet sources.
1. Exploratory -Why do people purchase brand X? (Qualitative Data)
2. Descriptive - How often do people shop for groceries and where do they go?
3. Explanatory- What happens if we increase the price? (Quantitative Data)
Descriptive- Interviews, Surveys
Explanatory-Experiments(Field/Natural , Lab)
Nominal - yes/no, male/female
Ordinal- Indicate level of education: High School, Some College, Bachelors, Graduate Degree
Interval- Temperate is 80 degrees twice as hot as 40 degrees
Ratio- Measurement of distance/length
-Dichotomous (yes/no ; True/False)- Two choices/outcomes
-Semantic differential scale
-Importance and rating scales
-Comparing and contrasting different variables.
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