Marketing Management, 16th Edition

Summary

1. Marketing research is all about generating insights. Marketing insights provide diagnostic information about how and why we observe certain effects in the marketplace and what that means to marketers. Good marketing research is characterized by the scientific method, creativity, multiple research methods, accurate model building, cost–benefit analysis, healthy skepticism, and an ethical focus.

2. The marketing research process consists of defining the problem, developing the research plan, collecting information, analyzing the information, and making the decision. In conducting research, firms must decide whether to collect their own (primary) data or use data that already exist (secondary data). They must also choose a research approach ...