Chapter 29: Study Guide

Vocabulary-

Problem Definition: occurs when a business clearly identifies a problem or research issue and the info that is necessary to solve it.

Primary Data: data obtained for the first time and used specially for the particular problem under study

Secondary Data: Have already been collected for some purpose other than the current study.

Survey Method: A research technique in which info is gathered from people through the use of surveys or questionnaires.

Sample: a part of the target population that is assumed to represent the entire population

Observation Method: a research technique in which the actions of people are watched and recorded either by cameras or observers.

Point-Of-Sale research: a powerful form of research that combines natural observation with personal interviews to get people to explain buying behaviors.

Experimental Method: A research technique in which a researcher observers the results of changing one or more marketing variables while keeping certain variables constant.

Data Analysis: The process of compiling, analyzing, and interpreting the results of primary and secondary data collection.

Research Steps-

1. Defining the problem

2. Obtaining Data

3. Analyzing the Data

4. Recommending Solutions to the problem

5. Applying the Results

Old Navy - #OneMillThrill

Old Navy held an #onemillthrill for the second year in a year, this is when they gave the first 100 shoppers in line at every store in North America the chance to win $1 million.

#OneMillThrill

Senior Privilege

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Chapter 28: Assessment

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