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KU Marketing 415 - Exam 1 Graded A+

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KU Marketing 415 - Exam 1 Graded A+ Marketing Research Process - Step 1 ️Formulate the problem or question Marketing Research Process - Step 2 ️Determine the sources of information and design a research process Marketing Research Process - Step 3 ️Choose the most appropriate data coll...

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  • September 27, 2024
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  • 2024/2025
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  • KU MKT 415 - Exm 1 Graded A+
  • KU MKT 415 - Exm 1 Graded A+
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KU Marketing 415 - Exam 1 Graded A+
Marketing Research Process - Step 1 ✔️Formulate the problem or question



Marketing Research Process - Step 2 ✔️Determine the sources of information and design a research
process



Marketing Research Process - Step 3 ✔️Choose the most appropriate data collection method



Marketing Research Process - Step 4 ✔️Collect the data



Marketing Research Process - Step 5 ✔️Analyze and interpret the data



Types of Research Data ✔️-Primary

-Secondary



Secondary Methods ✔️-Internal

-External



Primary Methods ✔️-Experimental

-Non-Experimental



Experimental Methods ✔️-Laboratory

-Field



Non-Experimental Methods ✔️-Qualitative

-Quantitative

, Internal Sources ✔️-CRM

-Prospect Database

-Data Mining

-Distribution Network



External Sources ✔️-Government

-Industry

-Shopper Tracking

-Syndicated Services

-Social Media

-Overlay Data



Secondary Data Advantages ✔️-Speed

-Lower Cost

-Competitor Insights

-Access to difficult to procure data



Secondary Data Disadvantages ✔️-Less control over design

-Can be expensive

-Questions of accuracy

-Competitors can access



What is an Experiment? ✔️-Manipulates the independent variable to see its effect on the dependent
variable

-Eliminates confounding variables



Types of an Experiment ✔️-Web Design

-Promotional Messaging

-Coupons

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