Lecture 2

Question 1

Complexities around Marketing Research and making marketing decisions are?

Answer 1

– Technological advances and growing internet usage driving
developments in marketing research
– Growing emphasis on the collection, analysis and
interpretation of existing data
– Increased use of gatekeeper technologies
– Widespread expansion of firms into global markets opening
up new cultural, social and changing market considerations

Question 2

In the marketing research process development and successful promotion of goods
and services involves?

Answer 2

– Understanding consumer decisions
– Careful planning through a sound marketing research
process

Question 3

Marketing research planning involves?

Answer 3

– Identifying a business decision problem

– Determining the scope of marketing research

Question 4

What are the Marketing research phases?

Answer 4

Step 1: Determine the scope for marketing research
• Step 2: Select the research method
• Step 3: Collect and prepare the data
• Step 4: Analyse the data
• Step 5: Transform the results into information

Question 5

What are the four interrelated tasks used for determining the scope for market research? apart of market research phases see document

Answer 5

1. Defining the decision problem
2. Specifying the research question - Redefine and reformulate the decision problem into research question(s)
3. Defining the research objective - blueprint of the project activities
4. Evaluating the likely benefit of the expected
   information

Question 6

How to define the decision problem when determining the scope for market research?
apart of market research phases see document

Answer 6

b. Understand the complete problem situation
c. Identify measurable symptoms
d. Determine the unit of analysis
e. Determine the relevant variables or constructs

Question 7

Considerations when evaluating the likely benefit of the expected information when determining the scope for market research during the market research phases

Answer 7

a. Need for information - Can the decision-making problem be resolved without any further research effort?

b. Time constraints - Need information in real time.. Is there enough time to conduct research
c. Resource requirements - enough resource i.e. money, staff, skills etc.

Question 8

Types of research data?

Answer 8

Primary data and secondary data

Question 9

Primary data is?

Answer 9

Primary data is
originated by a
researcher for the
specific purpose of
addressing the
problem at hand

Question 10

Secondary data is?

Answer 10

Secondary data
has already been
collected for
purposes other
than the problem
at hand

Question 11

Types of secondary data:

Answer 11

Internal secondary data is data collected by a
company for business purposes or marketing activity
reports on customer knowledge.
• External secondary data consists of data collected
by outside agencies such as the government, trade
associations, reports, industry whitepapers,
magazines, audits, consumer panels and marketing
research firms.

Question 12

What are the two types of secondary research designs frequently
used by marketing researchers ?

Answer 12

– Literature reviews

– Electronic searches

Question 13

Advantages of secondary data?

Answer 13

High availability of data with
advances in internet and related
search technologies

Costs associated with many
secondary data sources are
minimal

Question 14

Limitations of secondary data?

Answer 14

Prior data manipulation
– Render data unfit for present purpose

• Data relevancy
– The time period of the collection
– The categories of definitions
– The unit of measures

• Data accuracy (trustworthiness)
– Consistency across sources
– Source credibility, appropriateness of methodology and
source bias

Question 15

Internal secondary data can be used to analyse?

Answer 15

– product performance
– customer satisfaction
– distribution effectiveness
– target market strategies

Question 16

Internal data also is useful for planning:

Answer 16

-- new-product introductions
– product deletions
– promotional strategies
– competitive intelligence
– customer service tactics