Exam 2 - Research

Question 1

• Five step process and rationale for research

Answer 1

1. Define the problem
2. Develop the research plan
3. Collect relevant information
4. Develop findings
5. Take marketing actions

Question 2

1. Define the problem

Answer 2

Set research objectives

Identify possible marketing actions

Question 3

2. Develop the research plan

Answer 3

Specify constraints
Identify data needed for marketing actions
Determine how to collect data

Question 4

3. Collect relevant information

Answer 4

Obtain secondary data
Obtain primary data
Use information technology and data mining

Question 5

4. Develop findings

Answer 5

Analyze the data

Present the findings

Question 6

5. Take marketing actions

Answer 6

Make action recommendations
Implement action recommendations
Evaluate results

Question 7

Secondary data

Answer 7

Data that is already collected / in existence

Question 8

Examples of secondary data

Answer 8

Government
Trade association
Research firms
Academic
Public documents

Question 9

Primary data

Answer 9

You collect your own data

Question 10

Benefits Primary data

Answer 10

Custom to your needs

Will tell you what you want to know

Question 11

Disadvantages Primary data

Answer 11

Costly

Time consuming

Question 12

• Varieties of secondary data (pros)

Answer 12

Benefits
Exists
Cheap

Question 13

• Varieties of secondary data (cons)

Answer 13

Disadvantages
Different purpose
Out of data
May not cater to your needs

Question 14

Primary data collection issues

Answer 14

Costly

Time consuming

Question 15

Including questions and their communication

Answer 15

Different ways of asking the same question
To test consistency.
Wendy’s Example.
Important attributes of the fast-food restaurant.

Question 16

Communication

Answer 16

In writing.  
     Send out mail questionnaire     
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Telephone
In person