Exam

Question 1

How would you define (describe) MR – and what is its purpose?

Answer 1

It is systematic and objective

Its purpose is to seek information, not data to help in the DM process

Question 2

What are the functions, or activities, of MR?

Answer 2

DESIGN tools in order to…
COLLECT data, then
ANALYZE this data to provide info required, then
COMMUNICATE objectively the results for DM

Question 3

What are the four essential components of the Marketing System?

Answer 3

MBSP
Marketing mix(4p's)
Behavioral response
Situational factors
Performance measures

Question 4

What are some situational factors?

Answer 4

Demand
Competition
SLEPT
Internal Resources

Question 5

What are some performance measures?

Answer 5

Sales
Market Share
ROI
Cost
Profit
Cashflow
Earnings/Share
Image

Question 6

What are the steps of the DM process?

Answer 6

1-Recognize a decision situation
2-Define the decision problem
3-ID alternative course of action
4-Evaluate the courses of action
5-Select a course of action
6-Implement, monitor & modify

Question 7

What are the stages of the MR Process?

Answer 7

Establish the need
Specify objectives and  information needs
Determine design
Develop data collection procedure
Design the sample
Collect the data
Process the data
Analyse the data
 Present the results