Chapter 1 Flash cards

Question 1

What is Marketing Research?

Answer 1

It is the set of techniques and principles for
systematically collecting, recording, analyzing, and
interpreting data that can aid decision makers
involved in marketing goods, services, or ideas

Question 2

What is data?

Answer 2

the raw facts, recorded measures of certain phenomena

Question 3

What is information?

Answer 3

– transformed and organized facts in a form suitable
for managers to base decisions

Question 4

What is the difference between data and information

Answer 4

Information is data that can be understood and used to make decisions

Question 5

What are the basic functions of marketing research?

Answer 5

• the organizations formal communication link with the environment
• organizations gather and interpret data used to implement marketing decisions

Question 6

Who does marketing research?

Answer 6

1. Producers of products and services
2. advertising agencies
3. marketing research companies
4. government, trade associations and unviersities

Question 7

What are producers of products and services?

Answer 7

Organizations that produce products or deliver services for
businesses or consumers often conduct research designed to
develop and market their products and services

Question 8

What are advertising agencies?

Answer 8

Often conduct research designed to
help:
* Create and measure the effectiveness of
advertising campaigns
* Determine the market potential of a
proposed new product or the client’s
market share
* Better understand consumers, their
interests and behaviors

Question 9

What are the stages in the research process?

Answer 9

1. formulate a problem
2. determine research design
3. primary or secondary data.
4. analyze and interpret data
5. prepare the research report

Question 10

What are the stages in the research process?

Answer 10