Chapter 8

Question 1

procedures that develop and analyze new information about the market

Procedures that design, gather, analyze and report research that may be used to solve a specific problem for a market, or segmented group

Answer 1

Marketing research

Question 2

an organized was of continually gathering, accessing, and analyzing information that marketing managers need to make ongoing decisions

Answer 2

Marketing information system (MIS)

Question 3

a system for linking computers within a company

Answer 3

intranet

Question 4

a place where databases are stored so they are available when needed

Answer 4

data warehouse

Question 5

a computer program that makes it easy for a marketing manager to get and use information as he or she is making decisions

Answer 5

decision support system (DSS)

Question 6

a computer program that helps a marketing manager find info that is needed

Answer 6

search engine

Question 7

displays up-to-the-minute marketing data in an easy-to-read format

Answer 7

marketing dashboard

Question 8

a statement of relationships among marketing variables

Answer 8

marketing model

Question 9

a five-step application of the scientific method

Answer 9

marketing research process

Question 10

a decision-making approach that focuses on being objective and orderly in testing ideas before accepting them

Answer 10

Scientific method

Question 11

Five steps of marketing research approach

Answer 11

Defining the problem
Analyzing the situation
Getting problem-specific data
Interpreting the data
Solving the problem

Question 12

is an informal study of what information is already available in the problem area

Answer 12

situation analysis

Question 13

information that has been collected or published already

Such as: inside the company and outside the company

Answer 13

secondary data

Question 14

information specifically collected to solve a current problem

such as: observation and questioning

Answer 14

primary data

Question 15

a plan that specifies what information will be obtain and how- to be sure no misunderstanding occur later

Answer 15

research proposal

Question 16

seeks in-depth, open-ended responses, not yes or no answers

Answer 16

qualitative research

Question 17

which involves interviewing 6 to 10 people in an informal group setting

Answer 17

focus group interview

Question 18

seeks structured responses that can be summarized in numbers, percentages, averages, or other statistics

Answer 18

quantitative research

Question 19

the percentage of people contacted who complete the questionnaire

Answer 19

response rate

Question 20

a group of consumers who provide information on a continuing basis

Answer 20

consumer panels

Question 21

researchers complete the responses of two or more groups that are similar except on the characteristic being tested

Answer 21

experimental method

Question 22

easy-to-use computer programs that analyze data- have made this step easier

Answer 22

statistical packages

Question 23

the total group they are interested in

Answer 23

population

Question 24

a part of the relevant population

Answer 24

sample

Question 25

the range on either side of an estimate that is likely to contain the true value for the whole population

Answer 25

confidence intervals

Question 26

the extent to which data measure what they are intended to measure

Answer 26

validity

Question 27

What are the uses of market research?

Answer 27

Identify marketing opportunities and problems Generate, refine and evaluate potential marketing actions Monitor marketing performance Improve marketing as a process

Question 28

Find a gap that exists between what was supposed to happen and what did happen An opportunity occurs when there is a gap between what did happen and what could have happened also known as an opportunity Most difficult, most important

Answer 28

1. Define the Problem

Question 29

Situational Analysis Secondary data sources Pre-collected data from a variety of sources More accessible E.g. Newspapers, research articles, web sites

Answer 29

2. Analyze the situation

Question 30

``` Primary data sources Data is collected by researchers for specific projects E.g. interviews, surveys, fieldwork Quantitative Research – how many? Uses structured questions Predetermined responses Large groups of respondents Qualitative Research – how much? In-depth, open -ended responses ```

Answer 30

3. Get Problem-Specific Data

Question 31

gathers preliminary data (e.g. focus groups, interviews, small surveys)

Answer 31

Exploratory research:

Question 32

describes the market potential for a product, consumer attitudes and behavior (e.g. large surveys)

Answer 32

Descriptive research:

Question 33

tests hypotheses about cause-effect relationships (e.g. experiments)

Answer 33

Casual research:

Question 34

Extract findings from data Tabulate data Statistical software

Answer 34

4. Interpret Data

Question 35

“Sexy/rich findings” Application in marketing strategy planning Evaluate Report findings

Answer 35

5. Solve the Problem