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Marketing Research - Coggle Diagram

- - - - (e.g.) Alter price of products if it is too expensive for customers
    - - (e.g.) Research on the popular age group that would be attracted to the firm's products and services
- - - - Collecting Data
        
        Exploratory
        
        Provide ideas on a relatively vague problem
        
        Data Collection Methods : In-depth interview and focus group discussions
        
        Descriptive
        
        Data Collection Methods : Observations, personal-administered survey, telephone survey
        
        Describes things
        
        (e.g.) Market, market potential, demographics, environment, and competition
        
        Casual
        
        Test hypothesis
        
        Data Collection Method : Experiment
    - - Data Collection Methods
        
        Questionnaire
        
        Experiment research
        
        Observation research
      - Contact Methods
        
        Mail
        
        Telephone
        
        Face-to-face interview
        
        Online
      - Sample
        
        Sample of the whole population chosen to represent the entire population
        
        Probability sample
        
        Every member of population has an equal and known chance to be selected
        
        Non-probability sample
        
        Selects random people who are easy to obtain information from
      - Research Instruments
        
        Mechanical Instruments
        
        (e.g.) Lie detector
        
        Questionnaires
        
        (e.g.) Open and closed ended questionnaires, likert scale questions, etc.
  - - - Advantages
        
        Inexpensive
        
        Save time
      - Disadvantages
        
        Out-of-date
        
        Not specific enough
      - Internal Secondary Data
        
        Inputs
        
        (e.g.) Budgets and expenses, sales call reports, customer data
        
        Oucomes
        
        (e.g.) Sales and customer orders
      - External Secondary Data
        
        Internet based reports
        
        (e.g.) Internet report on demographics of people who enjoy playing soccer in America
        
        Census reports
- - - - (e.g.) On a scale of 1-5 (5 being the most and 1 being the least), how much did you enjoy your stay at x hotel
  - - - (e.g.) On a scale on 1-5 (5 being yes and 1 being no), was the food at KFC up to your expectations