Marketing research and consumer insight

Question 1

Define marketing research

Answer 1

the systematic gathering and interpretation of information about individuals or organizations using the statistical and analytical methods and techniques of the applied social sciences to gain insight or support decision making

Question 2

Market vs marketing research

Answer 2

broad look at market vs specific issues e.g. bramding

Question 3

3 stages in Marketing research

Answer 3

Market environment
Marketing information-system
Marketing decision making

Question 4

3 V’s of Big data

Answer 4

Volume
Velocity
Variety

Question 5

5 stages of MR process

Answer 5

Define the problem
Decide research plan
Data collection
Data analysis
Report

Question 6

4 marketing ethics

Answer 6

Honesty
Transparency
Confidentiality
Objectivity