SEARCH
You are in browse mode. You must login to use MEMORY

   Log in to start

level: MARKETING RESEARCH

Questions and Answers List

level questions: MARKETING RESEARCH

QuestionAnswer
The systematic process of planning, collecting, analyzing, and communicating information that is relevant to making better marketing decisions.Define Marketing Research.
Situation analysis, strategy development, marketing plan development, monitoring the performance of plans following implementation.Marketing Research is Important to What four activities?
Economic environment, tech developments, social/buying changes, legal/political, rate of market growth, buyer behavior, brand loyalty, competitive behavior, market share trends, size of market and potential market.Give up to Ten Examples of Situation Analysis Examinations
What business should we be in, how will we compete, what are the goals for the business.What Questions Should Strategy Development Answer?
Focuses on how the elements of the marketing mix can be most effectively used.What Role Does Marketing Plan Development play in Market Research?
Monitoring performance of plans following implementation may require the collection of either qualitative or quantitative information.Monitoring the Performance in Market Research Requires 2 types of Information?
Designed to yield reliable and objective answers to specific marketing questions.What is the Primary Function of the Marketing Research Process?
1. Define the research objective, 2. Determine Research Type, 3. Determine Research Approach, 4. Select Data Collection Method, 5. Analyze Results, 6. Report the Findings.Name the Six Steps to the Marketing Research Process
Exploratory, Descriptive, CausalWhat are the Three Research Types in the Marketing Research Process
Identify problems or hypothesesWhat is Exploratory Research?
Information about existing market conditionsWhat is Descriptive Research?
Identify cause and effect relationshipsWhat is Causal Research?
Qualitative and Quantitative.What are the two research approaches used in the Marketing Research Process?
Observation, in-depth interviews, focus groupsWhat is Qualitative Research Approach?
Experiments, questionnairesWhat is Quantitative Research Approach?
Mail, telephone, personal interviews.What are the Data Collection Methods in Research Process?
Specifices the plan for collectin gand analyzing data. It identifies data to be collected, data-gathering method to be used, population to be studied.What is the Research Design?
Process of gathering data from a selected subgroup chosen from the population of interest.What is Sampling?
Probability select persons from population at random; non-probability are nonrandom samples.What is Probability and Non-Probability Samples?
Larger sample sizes yield more reliable results but are also more expensive than smaller samples.What are the characteristics of Sample Size?
Primary is collected specifically for current study. Secondary is old data collected for reasons not related to present study.What is Primary V Secondary Data?
SEE PHYSICAL FLASHCARD.Draw Characteristics of Primary V Secondary Data Graph
Means of systematically acquiring information from individuals by communicating directly with them.What is Survey Research
In-Person data collection procedure in which the interviewer meets with 5-10 persons at the same time.What is a Focus Group?
SEE PHYSICAL FLASHCARD.Draw Characteristics of In-Person, Mail, and Phone Surveys Graph
Unobtrusive data collection procedure in which subjects' behavior is observed without their knowledge. Pro: Behavior not influenced. Con: Attitudes cannot be read.What is Observation in Survey Research? Pros / Cons?
Compares the impact of marketing variables on individuals' responses in a controlled setting. Pro: Can identify cause-effect. Con: High costs/laboratory settings.What is Experimental Research in Survey Research? Pros / Cons?
Technique that utilizes computer-based programs to assess the impact of alternative marketing strategies. Pro: Direct contact w/consumer unnecessary. Math models simulate effects from both controllable/uncontrollable factors.What is Simulation in Survey Research? Pros
Is made up of the people, equiptment, and procedures to gather, sort, analyze, evaluate, and distribute accurate information to marketing decision markers.What is a Marketing Information System (MIS)?
Forcasting- Estimating the demand for a brand or product or category. What will happen in the future by Qualitative or Quantitative techniques.What is a highly specialized function of a MIS?
Internal Expert opinion - often internal sales person, Consulting panels of independent 3rd party experts, Decision Trees and Scenario Building (probability models based on opinion)What are the Qualitative techniques used in forecasting?
Forcasts based on the analysis of historical sales trend data, math models incorporate multiple decision variables, multiple regression analysis, Econometic modeling.What are the Quantitative Forecasting Methods?
Short: Month or Quarter, Medium: Annually, Long: Five year PeriodHow long is Short-Term / Medium-Term / Long-Term Forecasts?