Chapter 5: Market Research

Question 1

Define marketing research

Answer 1

The process of planning, collecting, and analyzing data relevant to a marketing decision

Question 2

What is the role of marketing research?

Answer 2

Used to better understand the connections between marketing actions and consumer need. It is also used to help make decisions but it is not the only basis for a decision.

Question 3

Steps in marketing research

Answer 3

1. Identify the problem
2. Design the research
3. Collect the data
4. Analyze the data
5. Present the report
6. Provide follow up

Question 4

Step 1 - Identify the problem

Answer 4

The most important step. Must be differentiated between a management decision and a research problem.

Question 5

Define Marketing research objective

Answer 5

The specific info needed to solve a marketing research issue. Developed as a series of questions that decision makers need to know to make a marketing decision

Question 6

Step 2 - Design the research

Answer 6

Creation of the road map that specifies how to go about answering the question and achieving the objectives.

Question 7

Define Secondary information

Answer 7

data previously collected for any purpose other than the one at hand.

Question 8

Define Primary information

Answer 8

information that is collected for the first time and is used for solving the particular problem under investigation.

Question 9

4 types of observational research

Answer 9

1. people watching people
2. people watching an activity
3. machines watching people
4. machines watching an activity