Chapter 1

Question 1

What are the 4 key questions that people condut market research to answer?

Answer 1

1. What do we sell?
2. How do consumers view our company
3. What does our company/product mean?
4. What do consumers desire?

Question 2

Marketing Research is…

Answer 2

The application of the scientific method in searching for the truth about marketing phenomena.

Question 3

Applied Marketing research

Answer 3

conducted to address a specific marketing decision

Question 4

Basic Marketing Research

Answer 4

Research conducted without a specific decision in mind that usually does not address the needs of a specific organization