Chapter 10

Question 1

marketing research

Answer 1

process of collecting, analyzing, and reporting marketing information that can be used to improve a company’s bottom line

Question 2

market research

Answer 2

process of researching a specific market to determine its size and trends

Question 3

market intelligence

Answer 3

Information gathered on a regular, ongoing basis to enable a firm’s decision makers to stay in touch with what’s happening in the marketplace.

Question 4

research objective

Answer 4

goal(s) marketing research is supposed to accomplish.

Question 5

Primary data

Answer 5

Data collected using hands-on tools such as interviews or surveys to answer a question for a specific research project.

Question 6

Secondary data

Answer 6

data that has already been collected by someone else, or data you have already collected for another purpose.

Question 7

Difference between Primary & Secondary

Answer 7

Collecting primary data is more time consuming, work intensive, and expensive than collecting secondary data.

Question 8

Marketing Research Process

Answer 8

Define Problem
design research
design data collection
specify sample
collect data
analyze data
write research report