Handout 2

Question 1

the systematic design, collection, analysis, and report of data and findings relevant to a specific marketing situation a company is facing

Answer 1

Market research

Question 2

provides detailed insights into the competitors and understands the customers’ pain points (real problems) and preferences, latest market trends, consumer buying patterns, economic shifts, and demographics.

Answer 2

Market research

Question 3

Market research can help tour operators and travel agencies map out the full profile of their target market, as well as gain knowledge and valuable insights on their market’s buying habits, age, location, gender, and income, which can help them come up with effective, tailored marketing and pricing campaigns.

Answer 3

It understands the target market better

Question 4

Conducting market research can help tour operators and travel agencies assess the market to identify who the key players are and who are on the rise.

Answer 4

It helps gain knowledge about competitors.

Question 5

Through market research, tour operators and travel agencies may opt to experience their package holidays before being exposed and launched to the market and consumers.

Answer 5

It allows testing the product or service before being exposed

Question 6

Market research helps tour operators and travel agencies comprehend the demands of their market, detect more business opportunities, plan an efficient marketing campaign, minimize their business losses, and keep track of the competition.

Answer 6

It helps tour operators and travel agencies with their business growth.

Question 7

conscious feeling of deprivation in a person

Answer 7

need

Question 8

turns into a need after being influenced by culture, society, and an individual’s personality.

Answer 8

want

Question 9

process of finding out about the market in which the firm or company hopes to succeed.

Answer 9

Marketing research

Question 10

initial stage of the marketing research process. This is where the research problem and the research objectives can be identified

Answer 10

Defining the problem and the research objectives

Question 11

gives an insight into problems that are in the preliminary stage of investigation

Answer 11

Exploratory research

Question 12

used to describe the characteristics of a population or phenomenon being studied.

Answer 12

Descriptive research

Question 13

where the designing of the research plan takes place.

Answer 13

Developing the research plan for collecting information

Question 14

consists of pieces of information
which are not presently available but needed to deal with the issue/s under investigation.

Answer 14

Primary data

Question 15

consists of existing information that may be used for the problem at hand, although not originally gathered for this purpose.

Answer 15

Secondary data

Question 16

different techniques that may be used for data collection purposes

Answer 16

Marketing research techniques

Question 17

allow researchers to gather information with a considerable level of accuracy at an affordable cost.

Answer 17

Survey questionnaires

Question 18

a data collection method used in the aviation industry.

Answer 18

In-flight survey

Question 19

where researchers explore the informants’ reactions, opinions, and behaviors.

Answer 19

Face-to-face interviews and focus group meetings

Question 20

good way of accessing research participants. It is often perceived as a way to invade one’s privacy, however, which may damage the corporate image of a company.

Answer 20

Telephone interview

Question 21

remarkably versatile market research technique. It may be a costly exercise and may lead to confusion among travelers, especially if new product features are discontinued at the end of the testing period.

Answer 21

Test marketing

Question 22

a valuable and simple indication of customer dissatisfaction on the businesses’ existing products or services.

Answer 22

Complaints and complaint analysis

Question 23

refer to the sales and customer service staff who provide a company with first-hand information on the customers’ feelings toward its products and services

Answer 23

Customer contact staff

Question 24

involves the analysis and interpretation of available data.

Answer 24

Desk research

Question 25

known as the most expensive part of the marketing research process.

Answer 25

Implementing the research plan (collecting and analyzing data)

Question 26

where marketers interpret their findings. It is easier if the data analysis methods are carefully planned in the research process.

Answer 26

Interpreting and reporting the findings