Intro and method

Page 1

INTRO

Market research is a business function that links organisations to its markets through information based solutions

There are three main types of data

* primary in newly obtained

* secondary is existing already but used for a new purpose

* social media data

TASKS:

you must

1. establish boundaries

2. design

3. Execute

4. Communicate the results

PROCESS

identify and define then monitor and evaluate and then communicate

Info system: connects the research with the marketing purpose

it gathers, sorts, analyses evaluates and distributes timely information.

DECISION PROBLEM

decide an action to reach an objective. decision is guided by marketing research. Use SWOT.

Page 2

METHOD

1. SCOPE

identify and determine:

* what is known

* what is significant

* what is valuable

conduct if value>cost

1. define problem

2. define question (SMART)

causal= does x lead to y

exploratory= why and how

descriptive = market info

2.RESEARCH METHOD

observational/survey/experimental

primary/descriptive/causal

3. COLLECT AND PREPARE DATA

4. ANALYSE DATA

5. TRANSFORM INFO