Marketing Research

Question 1

What is market research

Answer 1

It is the research taken to understand markets aka customers, channels and competitors

Question 2

What is marketing research

Answer 2

Research taken about the efficacy of marketing activities like pricing and supply chain activities

Question 3

What are customer insights

Answer 3

Knowing your customers

Question 4

What is big data

Answer 4

Systematically analyze high volume highly volatile and highly varied data

Question 5

What is marketing analytics

Answer 5

Analyze mathematical patterns in the market such as sales and activities

Question 6

Is consumer insight research more commin un b2b or b2c

Answer 6

B2c

Question 7

When is a customer insight process most valuable

Answer 7

When it is rare, difficult to imitate and useful for management decisions

Question 8

What should CEOs and CMOs do to affectively implement consumer insights

Answer 8

Provide the necessary resources for proper research and act upon evidence and not preconceptions

Question 9

How should researchers act to effectively implement customer insights

Answer 9

As problem solvers not reporters and give concrete ways to implement their findings

Question 10

What is a marketing research brief

Answer 10

A brief outline if a clients marketing problem to a marketing research firm

Question 11

I hat is most often included in a market research brief

Answer 11

A summary of the company and its offerings, a statement if why research is needed and what decision the research will inform. It also includes a detailed list if information needed, schedule and scope

Question 12

What is a good marketing research question

Answer 12

A question outlining the problem of the marketer that can be subdivided int smaller questions

Question 13

What is a research proposal

Answer 13

A detailed outline if how a research agency will investigate a problem

Question 14

What types of research objectives are there in business research

Answer 14

Exploratory, descriptive and causal

Question 15

What is exploratory research

Answer 15

Develop hypothesis of new concepts when little is known about a management problem

Question 16

What is descriptive research

Answer 16

Accurately describe variables considered

Question 17

What is causal research

Answer 17

To research if a variable causes an effect in another variable

Question 18

What is primary research

Answer 18

Research conducted for the first time

Question 19

What is desk research

Answer 19

Gaining access yo previous research aka secondary research

Question 20

How is primary and desk research commonly conducted

Answer 20

First desk and then fill in knowledge gaps with primary

Question 21

How is qualitative data often obtained

Answer 21

Interviews, observations and focus groups to get an idea of underlying meaning. Popular in exploratory research

Question 22

What distinguishes quantitative research

Answer 22

They use organized and structured procedures as well as a large amount of tests and data to answer specific questions

Question 23

How is quantitative business research commonly conducted

Answer 23

Through survays

Question 24

How do you determine the validity and reliability of the test results

Answer 24

You check for statistical errors and sample bias

Question 25

Bow may you test the validity and external reliability of research results

Answer 25

Through multiple tests aka the test retest strategy if at different times or split half strategy if two tests at ones

Question 26

What is a face validity test

Answer 26

Yo read research results critically

Question 27

What is the difference between market, research and testing

Answer 27

Market research researches attitudes in the market through surveys while market testing puts these ti the test using a test market

Question 28

What are the five types of data sources

Answer 28

Public data, private data, data exhausts, community data and self quantification data

Question 29

What is public data

Answer 29

Data held by public authorities

Question 30

What is private data

Answer 30

Data held by private entities that cannot be ascertained from public sources

Question 31

What is data exhaust

Answer 31

Information generated through everyday actions like search data

Question 32

What is community data

Answer 32

Unsorted raw data like social media reviews that concern social trends

Question 33

What is self quantification data

Answer 33

Data generated by people reviewing themselves

Question 34

What should you think of when making research questions for other cultures

Answer 34

Conceptual, functional, measurement, sampling, data collection and translation equivalence in the interview questions

Question 35

What ways are there to conduct market research

Answer 35

You can do it in house, hire researchers, go via a trade association or study official statistics

Question 36

Name some sources of official statistics

Answer 36

Eurostat, scb, national accounts and household expenses

Question 37

What is the difference of knowledge in social science and natural science

Answer 37

In natural science there is a hard truth while social science is more open for different interpretations. Social constructs etc

Question 38

What is ontology

Answer 38

The study of knowledge

Question 39

How does realists look at the social world

Answer 39

As something objective and external that exists independent of actors

Question 40

How do idealists look at the social world

Answer 40

As something that is constructed by the actors in it

Question 41

How do positivists learn about the world

Answer 41

Use established theory to construct a hypothesis that can be tested. Research objective cause and effect

Question 42

How do hermeneutics learn about the social world

Answer 42

They interpret the subjective meaning of social actions

Question 43

What are type of research is preferred by positivists

Answer 43

Quantitative studies

Question 44

How do you evaluate qualitative studies

Answer 44

Is it credible and relevant, is your results similar to others, is it dependable aka sufficiently backed up with data and is it confirmable through links between the data and conclusions that others can understand

Question 45

When should should you employ a quantitative study

Answer 45

When you know what to study and need information about something specific and important

Question 46

When should you employ qualitative studies

Answer 46

When identifying new challenges, when there are complex dynamic contexts and when exploring large social changes

Question 47

Name some methods of data collection

Answer 47

Primary or secondary collection, document studies and literature review

Question 48

What is co-shopping

Answer 48

Join a customer and chat while they shop to gain insight about their experience

Question 49

What is a netnograohy

Answer 49

An ethnography on the internet detailing the dreams ideas and complaints of a group online

Question 50

Explain an attitude survay

Answer 50

Ask consumers to rank their attitudes in a scale