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BUSI 2204 - Chapter 4 Summary - Marketing, ISBN: 9781292146508 CA$13.62   Add to cart
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BUSI 2204 - Chapter 4 Summary - Marketing, ISBN: 9781292146508

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Chapter 4: Connecting with Customers Content Covered: - Developing effective customer relationships - Designing customer-driven marketing programs - Crafting customer-driven marketing strategies

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  • Chapter 4
  • February 11, 2023
  • 4
  • 2022/2023
  • Summary

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CHAPTER 4

MANAGING MARKETING INFORMATION
Marketing Research

● EX. Samsung vs apple - company can obtain lots of info from suppliers and
competitors.
○ Should gather info from job posting, advertising nand blogs
○ Companies must take into account all available public info, however, must not
break the law to get good intelligence - maintain code of justice
● Marketers need formal insights to new situations and decisions
● It is the systematic design, collection, analysis and reporting of data relevant to a
specific marketing situation facing an organisation
○ Can hire outside research specialists or pay for existing research / data




Defining the problem and research objectives
● Managers and researchers must work closely together
● Then set research ob ectives
1. Exploratory research - to gather preliminary information that will help define the
problem and suggest hypotheses.
2. Descriptive research - describe things, such as the market potential for a product or
the demographics and attitudes of consumers who buy the product.
3. Causal research - test hypotheses about cause-and-effect relationships.

Developing the Research Plan
Research plan outlines sources of existing data, and is presented efficiently
1. Presents the contact methods, sampling plans and present ways of current consumer
behaviours and if the company needs to adjust their market and positioning
2. Should be presented in written proposal
a. Covers: management problems addressed, research objectives, info obtained
and the way results will help management’s decision making
3. Can use secondary, primary or both types of data

Gathering Secondary data
1. Begin by gathering secondary data
a. Begins with internal database
i. Can also purchase from outside suppliers
b. Can be too costly to conduct primary data

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