1. Market Research

2. What is it?  Process of collecting information and using it to make good (marketing/business) decisions  Various ways to collect data  Can use public information or private information  Primary or secondary information

3. Examples…  Who has provided some personal information to a company within the last week? How?  What are some other ways companies collect information and data about you as either a customer or potential customer?

4. Examples  Mail-in Rebates  Online Rebates  Warranty Cards  Free stuff (products, subscriptions)

5. Many ways of collecting data  Advantages vs. Disadvantages –Personal interviews –Focus groups –Mail –POS terminals –Telephone –Surveys (questionnaires) –User names & passwords on websites  Any others?

7. Process Identify Specific Problems Set Objectives (methods) Collect Data Analyze & Interpret Recommend Solutions Apply ResultsEvaluate

8. References  Pg 136 Sauder Wood Products  Radford College Student example Radford College Student example Radford College Student example  Car Wash Study Car Wash Study Car Wash Study  Census.gov