Marketing Research Data Types Flashcards
1
Q
What is the definition of marketing research (according to the American Marketing Association)
A
Function that links an organization to its market through the gathering of information.
2
Q
What is a marketing researcher meant to discover?
A
- How much should the company sell?
- Where to sell?
- Whom to sell?
- How to sell?
3
Q
Why do we need marketing research?
A
To help facilities make decisions on the 4Ps (Place. Promotion, Price, Product)
4
Q
When would marketing research might not be feasible?
A
- Insufficient time frame
- Inadequate resources
- Costs outweigh the value
5
Q
What are some ethical issues in research firms?
A
- Biased samples
- Deliberate use of incorrect methods or not explaining the methods in detail to the clients
- Misleading interpretation of results
6
Q
What are the consequences of unethical behavior?
A
- Increase likelihood of law suits
- Decreased clients’ confidence in research
- Not good for business reputation
7
Q
What are the two types of data
A
Primary and Secondary
8
Q
What is secondary data?
A
Is data previously collected for some other project and is used by your current
research
8
Q
What is primary data?
A
Is data collected specifically for a
current research projects.
