8.2 marketing research

Ethan, Reid, and mason

What is marketing reserch

Marketing research- Process of planning, collecting, and analyzing data.

-provides info about consumers, products, services, brand awareness, prices, etc

steps in marketing reserch

-market research involves a scientific approach to decision making.

-This step by step method is used to collect accurate and meaningful data

-intro faze of marketing research process involves a clear and precise understanding of the problem at hand

-research design is the plan that specifies how the marketing research process will be implemented

-data may be collected through surveys or questions asked

-target market must be clearly defined to avoid sampling errors

-once info is collected it should be organized in a meaningful way.

-should prepare a written and oral report to present conclusions and recommendations to managment

Primary market reserch

-the process of collecting data for the first time to use in solving problems

- most common methods are the survey

-Primary market research is used to measure the effectiveness of an advertising method

secondary market reserch

Secondary market research -the process of collecting and analyzing data previously gathered for other purposes

-there are several advantages to secondary market research such as large amounts of secondary data are available online.

-most for free