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
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