Chapter 10

Question 0

5 steps to to the marketing research process

Answer 0

Define objectives and research needs
Design research 
Data collection process
Analyze and develop insight
Action plan and implementation

Question 1

Factors marketers want to know before embarking on a research project

Answer 1

Will research be useful?
Will it provide more than we already know?
Will it reduce uncertainty ?
Is top management commuted to the project?
Should marketing research project be large or small

Question 2

Step 1 research process

Answer 2

What problem needs to be solved.

Remember it must be clearly defined since research is expensive!!

Question 3

Step 2 research process

Answer 3

Design the research and Identify the data needed and determine research necessary to collect it

Question 4

Step 3 research process

Answer 4

Collect the data which can be primary or secondary

Question 5

Secondary data

Answer 5

Information that has been collected prior to research

Question 6

Primary data

Answer 6

Collected to address specific research needs

Question 7

Example of secondary data

Answer 7

Mcdonalds going to ACNielson for data on ingredient price sales figures and growth

Question 8

Example of primary data

Answer 8

Survey from Mcdonalds on its performance asked to its customers

Question 9

Step 4 research process

Answer 9

Analyze the data and develop insights generate meaningful info

Question 10

Data

Answer 10

Raw numbers or factual information that on their own provide little insight

Question 11

Information

Answer 11

Results from organizing analyzing and interpreting data

Question 12

Step 5 research process

Answer 12

Action plan/ implementation

Analyst presents results to decision makers

Question 13

Drawbacks of secondary data

Answer 13

Not specific or timely enough to solve manufacturers needs May not be relevant to question at hand

Question 14

Syndicated data

Answer 14

Is secondary data which I available for a fee ample ACNielson provides sales of foods for a ll types of stores

Question 15

Scanner data

Answer 15

Obtained at checkout countries through UPC code

Question 16

Panel data

Answer 16

Collected from a group of consumers organized into panels over time ( focuses on individual store chain etc)

Question 17

Data warehouse

Answer 17

Cache of customer information and purchase history

Question 18

Data mining

Answer 18

Uses statistical analysis tools to uncover previously unknown patterns in data or relationships among variables

Question 19

Churn

Answer 19

Number of participants who discontinue use of a service divided by average number of total participants

Question 20

Qualitative data

Answer 20

Used to understand interest through broad open ended responses more informal than quantitative research

Examples obese ration, social media in depth interviews focus groups etc

Question 21

Quantitative data

Answer 21

Structured responses good for statistics provides info needed to confirm insights and generate hypothesis

Example scanner data panel data specific experiments

Question 22

In depth interviews

Answer 22

Trained researchers ask questions listen to and record the answers and pose additional questions to clarify on a particular issue

Question 23

Focus group interviews

Answer 23

8 to 12 people come together for intensive discussion

Question 24

Survey

Answer 24

Collecting info using questionnaire

Question 25

Questionnaire

Answer 25

Form that features questions designed to tether info

Question 26

Unstructured question

Answer 26

Open ended what makes you buy a particular shampoo?

Question 27

Structured question close ended

Answer 27

Yes or no or number based on a scale of 1 to 10 type

Question 28

Response rate to surveys

Answer 28

Higher for online surveys 35%
Phone10-15
Mail 2percent

Question 29

Experimental research

Answer 29

Quantitative research systematically manipulates two or more variables to determine effect on one over the other

Question 30

Pros of primary research

Answer 30

Specific to immediate data needs

Behavioral insights

Question 31

Cons of primary research

Answer 31

Costly
Time consuming
More training

Question 32

Pros secondary data

Answer 32

Saves time

Free or inexpensive

Question 33

Cons of secondary data

Answer 33

Not relevant 
Not timely
Not original
Not appropriate data collection
Biased

Question 34

AMA guideline for conduct market research

Answer 34

No fundraising to conduct research

No misrepresentation or omission

Fair treatment of clients and suppliers