chapter 10

Question 1

What is marketing research and its benefits?

Answer 1

Consists of a set of techniques and principles for systematically collecting, recoding, analyzing, and interpreting data that can aid decision makers who are involved in marketing goods, services, or ideas.

Question 2

What are the steps to the marketing research process?

Answer 2

• Collecting
• Recording
• Analyzing
• Interpreting
  = Decision making

Question 3

What is the difference between primary and secondary data?

Answer 3

Primary data are the original data derived from your research endeavours. Secondary data are data derived from your primary data.

Question 4

What is the neuromarketing process?

Answer 4

The measurement of physiological and neural signals to gain insight into customers’ motivations, preferences, and decisions