Problem definition: occurs when a business clearly identifies a problem or research issue and the information that is necessary to solve it
Primary data: data obtained for the first time and used specifically for the particular problem or issue
Secondary data- Is data that has already been collected for some purpose other than the current study
Survey method- Is a research technique in which information is gathered from people through the use of surveys or questionnaires
Sample- is a part of the target population that is assumed to represent the entire population to get survey results
Observation Method- is a research technique in which the actions of people are watched and recorded either by cameras or observers
Point-of-sale Research- is a powerful form of research that combines natural observation with personal interviews to get people to explain buying behavior
Experimental Method- is a research technique in which a researcher observes the results of changing one or more marketing variables while keeping certain other variables constant under controlled conditions
Data Analysis- is the process of compiling, analyzing, and interpreting the results of primary and secondary data collected
Vocab 29.2:
Validity-exists when the questions asked measure what was intended to be measured
Reliability-Exists when a research technique produces nearly identical results in repeated trials
Open-ended questions- ask respondents to construct their own response to a question
Forced-choice questions- ask respondents to choose answers from possibilities given on a questionnaire
Pros and Cons:
Pros: secondary data can be obtained easily
Con: could be inaccurate
Marketing research process steps:
1. Defining the problem
2. Obtaining data
3. Analyzing data
4. Recommending solutions
5. Applying the results
Main points:
-primary or secondary data
-research steps
-defining the problem is the hardest
