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Chapter 6

Chapter 6. Test Review. TEAM 1. Should businesses know their customers to be successful? When should secondary research be conducted? Which type of research is original research done for a specific market situation? Explain data mining.

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Chapter 6

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  1. Chapter 6 Test Review

  2. TEAM 1 • Should businesses know their customers to be successful? • When should secondary research be conducted? • Which type of research is original research done for a specific market situation? • Explain data mining. • Which research type allows for inferences to be made? • What are three examples of direct marketing?

  3. Team 2 • What are the steps in the research process? • Explain: product development, pricing, distribution. • Where would internal research come from? • What are the research methods used in primary research? • What is a disadvantage of mail questionnaires? • What are the indirect channels of distribution?

  4. ENTIRE CLASS • Define: • Census: • Channel of distribution • Market research • Infomercial • Primary research • Direct channel • Observation method • Secondary research • Sample • Indirect channel

  5. Short Answer • Purpose, steps & reasons for market research process. • Including specific examples • Purpose of target market. • 4 ways to segment a market • With examples • How do businesses use this concept?

  6. 1. Yes, because they need to know who their target market/audience is. Demographics need to be taken into consideration as well. • 2. Secondary research should be conducted before primary research because secondary research may answer the research question already. • 3. Primary research is done for a specific market and situation. • 4. Data mining is collecting data and looking for relationships. • 5. Qualitative research is reported in paragraph form. You can’t make conclusions, just draw inferences based on facts. • 6. Email, telemarketer phone calls, direct mail

  7. Team 2 • 1. Identify problem, secondary research, primary research, collect data, analyze. • 2. Product development- decide what you are selling. Pricing- reasonable price based on research. Distribution- Direct/Indirect channels of distribution. • 3. The research comes from the building/company/school the researchers are using. • 4. Experiment, observation, survey • 5. People throw out “junk” mail. • 6. The indirect channels of distribution are: manufacturers, wholesalers, retailers, agents

  8. Vocabulary • Census: A study conducted to determine research planning. Everyone is counted. • Channel of distribution- the path the product takes from the producer to the consumer • Market research: The process of systematically collecting, analyzing & reporting data. • Infomercial- TV program that promotes a product and informs in a supposedly objective way. • Direct channel – path taken without any intermediaries between the producer and consumer.

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