Student Handout: Seek and Find

1. Marketing researchthe systematic gathering, recording, and analyzing of data

about a specific issue, situation, or concernis a valuable source of insight.
2. It is an important component of a businesss marketing-information management
system and helps businesses to make better decisions.
3. Business can base decisions on concrete facts rather than opinion, gut reaction,
or past experience. Develope profile on customers, describe target market, analyze
business sales a market share, determine how to reach target market, forecast sales
and trends, competitive, prevent unnecessary financial losses.
4. Systematic, Accurate, Objective, Thorough, Timely, Reliable, Valid
5. The size of the business or organization often determines how it carries out
research activities.

P2
1. Identifying the problem, issue, situation, or concern to be researched.
2. Explore current situation, Define current situation, Test situation, Predict Future
Situation
3. A hypothesis is a statement of the expected outcomes of the research.
4. Research design for a marketing-research project involves creating a master
plan for how the research will be carried out. This helps to keep the project on track.
5. What types of data? How much data will be collected? What Primary data? How
will data be analyzed?
6. Survey, Observation, and Experiment
7. reviewed, evaluated, and analyzed. The way in which researchers plan to
analyze data affects the amount of data they collect. If data will be analyzed by hand, the
amount of data must be limited. If data will be analyzed by computer, researchers can
collect much more data since large amounts of data can be analyzed in a short period of
time.
8. The research report should include the original research objectives and
hypothesis, the research methodology, research results, limitations to the research, and
the researchers recommendations for the business.

What's Your Problem

1. Marketing research can provide the information managers need to make the best
decisions for the company.
2. Most mid-sized and big companies will use professional researchers from outside
consulting firms. A small business, however, may not have the budget for the services of
an independent marketing-research group.
3. It will help the business managers get to problems and solve them correctly
without doing the wrong, or unnecessary thing.
4. decision problem is the basic issue the businesss managers are facingthe
reason they believe that marketing research is necessary.
 5. Discovery-oriented decision problemsaimed at answering questions like
what? or why? Strategy-oriented decision problemsaimed at answering questions
like how? or which?
6. Research problem asks what research needs to be done to solve the decision
problem.
7. Any predetermined decisions without actual knowledge. they should be aware of
certain situations in which conducting marketing research may not be the most
appropriate course of action.
8. Managers should avoid any marketing research projects that dont make financial
sense.

Total Recall B

1. They conduct a situation analysis

2. They have to determine if there is enough secondary data. If not, then they must
uncover primary data. They must agree on what unit of analysis should be used. And the
relevant variables will be addressed in the marketing research study.
3. They state exactly what the research study will achieve.

Better by design
Total Recall A
1. The systematic gathering, recording, and analyzing of data about a specific issue
2. Support every decision they make
3. The master plan for conducting the marketing research
4. Purpose dictates design
Total Recall B
1. Exploratory is used unstructured to learn more information
2. Descriptive research is used unstructured to take a snapshot of some aspect of
the market
3. Causal research is used highly structured to test an if then hypothesis

What's the Source ?

1. Secondary Data contains data that have already been collected for some reason
other than the research project at hand. In other words, the data already exists in some
form.
2. Internal data are secondary data that already exists in the organization's own in
house information system. (Sales Invoices, Cash Register Receipts)
External Data are secondary data that already exists outside the organization.
Source of external data include: (government statistics and databases, trade association
reports and databases, etc)
3. Primary research collects data specifically for the project at hand.
 4. Qualitative data are subjective- based on thoughts, feelings, opinions, and
experiences. Quantitative data are objective - based on statistics and facts and usually
represented numerically.
5. Current customers, Former customers, prospective customers, employees,
managers, vendors/suppliers, other channel members

Part B:
1. Secondary research costs significantly less to undertake than primary research. Also much
quicker to conduct. Can be advantageous when it's all marketers have to go on.
2. Not customized to the specific needs of one's research project. Also could be out of data, or
incomplete.
3. Can be custom fit to an organization's needs specifically. Up to date, gives marketers greater
control of the study - methods used, construction of the questions, the selection of the
respondents, the time and money spent, etc. Allows marketers to interact personally with the
research study respondents through interactions.
4. Main drawback is the cost. Also can be time consuming. Can be difficult to recruit and select
respondents for primary research.
5. Firm is expert and efficient, has specialized equipment, access to a wide variety of data,
researchers are objective.

Hunter Gathering
Total Recall A
1. Qualitative data is anything you feel, touch, smell, hear, or taste.
2. One on one conversations, used to get as much information as possible about a
certain situation.
3. One or two researchers moderate a group discussion that usually includes
anywhere from 6 to 12 participants.
4. Researchers watch people perform certain activities usually in a natural setting.
5. Raises privacy concerns because people don't like getting watched without
knowledge or consent. Also when people get observe they tend to alter their behavior
consciously or subconsciously.

Total Recall B
1. Any data that is derived from numbers
2. Captures info from respondents through a research instrument
3. Tracking usually takes place online for example when businesses count website
hits, monitor online orders, and use cookies
4. Researches will experiment through the changing of one manipulated variable to
see how it affects another.
5. Advantages = fast, inexpensive, convenient and easy to keep up to date
Disadvantages = privacy concerns, technical difficulty, and lack of control
6. Using multiple methods helps strengthen strengths and minimize weaknesses