Chapter 4 - Market Research

Question 1

What is the marketing information system?

Answer 1

Determines what info managers need then gathers, sorts, analyses, stores and distributed marketing info to system users.

Question 2

Give examples of internal company data.

Answer 2

Sales reports.
Feedback from staff.
Customer purchase history.
Financial reports.
Marketing campaign results.
Customer complaints.

Question 3

What is marketing intelligence? Give examples.

Answer 3

Method where marketers obtain info about everyday happenings in the marketing environment.

Internet
Government reports
Newspapers
Retailers
Suppliers
Observations
Mystery shoppers

Question 4

What is market research?

Answer 4

Collecting, analysing and interpreting data about customers, competitors and business environment to improve marketing effectiveness.

Question 5

What is syndicated research?

Answer 5

Data collected and compiled by research agencies and sold to several firms.

Question 6

What is custom research?

Answer 6

Primary data collected to provide answers to specific questions.

Question 7

7 steps of the market research process?

Answer 7

1. Define research problem.
2. Determine research design.
3. Choose method to collect primary data.
4. Design the sample.
5. Collect the data.
6. Analyse / interpret data.
7. Prepare the research report.

Question 8

Give examples of exploratory research.

Answer 8

Interviews
Focus groups
Case studies
Ethnographical

Question 9

Give examples of descriptive research.

Answer 9

Cross sectional

Longitudinal

Question 10

Give examples of casual research.

Answer 10

Lab research

Field studies

Question 11

What are the two types research?

Answer 11

Primary and secondary research.