CONTENTS:PRIMARY DATA DEFINITIONSECONDARY DATA DEFINITIONDIFFERENCES BETWEEN PRIMARY AND SECONDARY DATA Understanding the Differences between Primary and Secondary data Data collection is an important part of market research. Whether for understanding complex issues or answering questions and for hypothesis testing, researchers need to collect data. The data they collect for the purpose of research can be … Read more
CONTENTS: RESEARCH APPROACHES FOR GATHERING PRIMARY DATAOBSERVATIONAL RESEARCHSURVEY RESEARCHEXPERIMENTAL RESEARCH Researchers rely on data and information to answer questions, understand specific issues, or for hypotheses testing. They can obtain the data from the subjects directly or from sources that already store the data. When the data is collected directly for the project from the subjects, … Read more
CONTENTS: FIVE CORE MARKETPLACE CONCEPTS.NEEDS, WANTS, AND DEMANDS.MARKET OFFERINGS.VALUE AND SATISFACTION.EXCHANGE RELATIONSHIPS.MARKETS. Understanding the marketplace and customers is critical to winning in today’s highly competitive market environment. The leading companies invest heavily in this area and go to great lengths to understand their target market and learn about their customers’ needs, wants, and demands. It … Read more
What are the major trends and forces changing the marketing landscape in an age of relationships? The world of marketing has undergone a significant transformation in less than a decade. It is being shaped and altered by several trends and forces. While it has already changed a lot, dramatic changes still happen every day in … Read more
Discussion Questions from Orwell’s 1984 Chapter One. Contents: Winston’s primary character traits and supporting quotes. Significance of Winston’s Journal and writing in Oceania. Purpose of the telescreen Two minutes hate O’Brien’s character and Winston’s feelings for him Three primary character traits to describe Winston and a quote to support each. Answer: Winston, the central character … Read more
The three largest cloud players in the industry include Amazon AWS, Microsoft Azure, and Google Cloud. Following the Covid-19 pandemic, the shift towards digital technology has accelerated leading to more and more companies utilizing cloud-based technologies and services to accelerate their digitalization. People are buying products online mainly and the shift that the pandemic has … Read more
In a previous post, I have discussed the purchasing decision process of individual buyers. In this post, I will discuss how the business buyers make their purchasing decisions and the steps involved in the decision process. There are generally eight steps involved in a business buying situation. Business buyers buying new products will typically go … Read more
Every marketer wants his new product to be successful. However, several factors influence the adoption rate of the innovation. Some products can gain acceptance overnight. For others, it may be difficult to win the market and gain fast adoption from consumers. Apple products are very good examples of products that gained adoption very fast right after … Read more
The QSR industry globally is populated by several small and big brands. Apart from the industry-leading global brands like McDonald’s, KFC, Domino’s, Burger King, Subway, and others, there are several local brands catering to local demand across various markets. There are a very large number of brands operating in the QSR sector in the US … Read more
Buying behavior can vary greatly from product to product, based on the level of involvement and degree of differences from brand to brand. For example, buying behavior for milk, toothpaste or bread will be different from that for carpet or smartphones. In the case of more complex buying decisions, there will be more buying participants and … Read more