Chapters 1-7

Question 1

Define marketing research.

Answer 1

The planning, collection, and analysis of data relevant to marketing decisions making and the communication of the results of this analysis to management.

Question 2

What is the importance of marketing research in shaping marketing decisions?

Answer 2

Marketing research has grown in importance because of management’s focus on customer satisfaction and retention. It also is a key tool in proactive management. It helps management obtain the information they need to determine the shape of the marketing mix.

Question 3

What is applied research?

Answer 3

Research aimed at solving a specific, pragmatic problem - better understanding of the marketplace, determination of why a strategy or tactic failed, or reduction of uncertainty in management decision making.

Question 4

What is basic/pure research?

Answer 4

Research aimed at expanding the frontiers of knowledge rather than solving a specific, pragmatic problem.

Question 5

Are you more likely to do applied or basic research as a marketer working for a company?

Answer 5

Likely, applied research due to it’s useful nature.