Marketing Information and Research (Chapter 4)

Question 1

What are the steps in the market research process?

Answer 1

1) Define the Research Problem
2) Determine the Research Design
3) Choose Method to Collect Primary Data
4) Design Sample
5) Collect Data
6) Analyze and Interpret Data
7) Prepare Research Report

Question 2

What is exploratory research? What are some of its qualities?

Answer 2

Generates insights for future, more rigorous studies. Used to come up with ideas for new strategies and opportunities or just to get a better handle on a current problem. Small scale and less costly, usually done for hunches without too much risk or expense. Mostly qualitative. Focus groups common. Case study (common in B2B, ethnographies).

Question 3

What is descriptive research? What are some of its qualities?

Answer 3

Tool that problems more systematically into problem and bases conclusions on large numbers of observations. Results usually in quantitative terms (averages, percentages). Research conducted to answer a specific question, unlike exploratory. Cross-sectional designs (use of things such as questionnaires not from same pool) and longitudinal designs which track responses of same sample of respondents over time.

Question 4

What do reliability and validity have to do with data quality?

Answer 4

Validity has to do with the extent to which research measures what it was actually intended to. Reliability has to do with measurements that are free of error.

Question 5

What is it important that the group you survey represents? What does it underscore the importance of?

Answer 5

Representativeness; the extent to which consumers in a study are similar to a larger group in which organization has an interest. In order to obtain a representative sample, organization has to be careful how it samples, or selects respondents, for a study.