chapter 5

Question 1

What is marketing research?

Answer 1

the design, collection, interpretation, and reporting of info to help marketers solve problems/take advantage of opportunities

Question 2

What are the two forms of marketing data?

Answer 2

Quantitative: numerical and measureable

Qualitative: descriptive

Question 3

What is the difference between exploratory and conclusive research?

Answer 3

Exploratory is more general/informal and leads to conclusive which is more specific and formal (usually quantitative)

Question 4

What are customer advisory boards?

Answer 4

small groups of actual customers who offer insights based on their feelings toward firms products/marketing stradegy

Question 5

What is a focus group?

Answer 5

small group of people brought together to participate in an informal interview (simply to observe members exposed to an idea/concept)

Question 6

What are the 5 steps of the marketing research process?

Answer 6

1. Define the issue
2. Design research project
3. Collect data
4. Interpret findings
5. Report findings

Question 6

We know there is exploratory and conclusive research. What two methods of research make up conclusive?

Answer 6

Descriptive: observing and describing variables without manipulating them (what is)

Experimental: research to establish cause-and-effect relationships between variables (why)

Question 7

What is the difference between research reliability and validity?

Answer 7

Reliability: Similar to previous results (not necessarily valid)
Validity: Accurately measured (collected data)

Question 8

What are the 2 types of GENERAL data?

Answer 8

Primary: observed/collected directly from respondents
Secondary: internal/external information

Question 9

What are the 3 methods of collecting primary data?

Answer 9

1. Sampling
2. Survey
3. Observations

(often uses 2 or more)

Question 10

Primary data: 3 characteristics of sampling (hint: PSS)

Answer 10

Population: everything of interest in study

Sample: certain number of people chosen to represent total population

Sampling: selecting representatives from total population

Question 11

Primary data: What is probability sampling?

Answer 11

every element in population being studies has known chance of being selected
(random/stratified sampling)

Question 12

Primary data: What is nonprobability data?

Answer 12

no way to calculate likelihood that specific element of population being studied will be chosen (quota sampling)

Question 13

Primary data: What are 5 different survey methods?

Answer 13

1. Mail
2. Telephone
3. Personal interview
4. Online
5. Social networking

Question 14

What is statistical interpretation?

Answer 14

Analysis of data that states what is typical and what deviates from average

Question 15

What is the Marketing Information System (MIS)?

Answer 15

framework for managing/structuring information gathered regularly from sources inside and out the firm

Question 16

What is single-source data?

Answer 16

Info provided by a single marketing research firm

Question 17

What is big data?

Answer 17

Massive data files that can be obtained from databases (pros: learn about customers and gain advantages/cons: privacy issues and subject to errors/issues)

Question 18

What is marketing analytics?

Answer 18

Measuring effectiveness of a firm’s marketing activities

Question 19

What are the 4 steps of marketing analytics?

Answer 19

1. Define what to measure/tools to use
2. Collect data
3. Develop report
4. Analyze data

Question 20

What is the Marketing decision support system (MDSS)?

Answer 20

customized software that aids marketing managers in decision-making