1. Market Research:
Primary Data

2. Two Types Qualitative Research Quantitative Research election polls
measures reactions, feelings – things that aren’t easily quantifiable
Quantitative Research
data that can be measured
collected by surveying a representative sample
predict results of entire market based on sample
election polls

4. Gathering Primary Data
Test Marketing
Movies
Food

5. Internal Information Sources
Sales Records
Inventory
Production Records
Data Mining

6. Surveys Planned set of questions used to gather data
Ways to administer surveys
Phone
Written
Web

7. Survey Questions Closed ended questions Open ended questions
yes/no, mult. choice, rate on a scale
easy to answer, easy to score, easy to interpret data
Open ended questions
allow respondents to provide own response
time consuming to answer and interpret, difficult to extract meaningful data

8. Random Sample Surveys must be from a random sample
every member of the target-market population must have the same chance of being selected for the survey
If the sample does not accurately represent the target-market, the results will be misleading and biased
If the results are truly random, then the results of the study can be projected on the entire market.

9. Observation
Recording a person’s actions in a particular scenario, without direct interaction
Can be more accurate than surveys
less outside influence
less self-consciousness
truer representation of the person’s attitudes
Eye-tracking Photography

10. Focus Groups
Small group discussion
Moderator
guides discussion