Module #2 - Planning the Research Process

Question 1

What is the first step of the research planning process?

Answer 1

The client comes to you with a business issue

Question 2

What is the second step of the research planning process?

Answer 2

Meeting with the client to learn more about the challenges and opportunities faced by the business

Question 3

What are the four key pieces of information you need to discuss with the client during the second step of the planning process?

Answer 3

a) You and your client discuss the competitive forces that contribute to the business issue or problem. You discuss other factors that management thinks play a role in the issue or problems.
b) You discuss what alternative courses of action the business is considering.
c) You gain an understanding of possible risks and vulnerabilities.
d) You find out what business decisions management faces.

Question 4

What is the third step in the research planning process?

Answer 4

Develop a set of research objectives to match the business decisions

Question 5

What is the fourth step in the research planning process?

Answer 5

Design a research plan to achieve the research objectives, and laying it out in a proposal

Question 6

What is the fifth (and last) step in the research planning process?

Answer 6

Communicate the research plan to the marketing partners

Question 7

What are the 6 phases of the “Business Process Continuum”?

Answer 7

1) Problem not fully formed
2) Problem identified
3) Possible courses of action identified
4) Courses of action chosen
5) Implementation
6) Evaluation of results

Question 8

What is the definition of marketing research?

Answer 8

The systematic and objective identification, collection, analysis, dissemination, and use of information for the purpose of assisting management in decision-making related to the identification and solution of problems and opportunities in marketing.

Question 9

What are 3 broad categories of business issue that market research can help?

Answer 9

1) Acquisition/ Expansion
2) Retention
3) Margin Improvement

Question 10

What are the specific ways businesses can address expansion/ acquisition?

Answer 10

1) new customers
2) get current customers to use more
3) new products

Question 11

What types of research are used for issues of acquisition/ expansion?

Answer 11

1) New Product research

2) Segmentation research

Question 12

What are two specific ways companies can address issues of retention?

Answer 12

1) Maintaining customer loyalty

2) Minimizing customer losses due to attrition

Question 13

What types of research are used for issues of retention?

Answer 13

1) Customer satisfaction

2) Customer attrition research

Question 14

What types of research can address issues of margin improvement?

Answer 14

1) Advertising Effectiveness
2) Pricing research
3) Packaging research

Question 15

Why is problem definition key to the research process?

Answer 15

Because you can’t solve the problem if you don’t actually know what it is.

Question 16

What is the relationship between the business problem and the research problem?

Answer 16

The business problem is likely to be a symptom of another underlying problem. The underlying problem is the one that needs researching.

Question 17

What are the 5Ws and 2Hs of the research plan?

Answer 17

Why, Who, What (info), Where (geo scope), When, How, and How much

Question 18

What is the difference between the management decision problem and the marketing research problem?

Answer 18

Management Decision Problem asks what the decision maker needs to do.

Marketing Research Problem asks what information is needed and how it can be obtained.

Question 19

The definition of the marketing research problem should follow what two rules?

Answer 19

1) Be broad enough to allow the researcher to get all information needed to address the bus. prob, and
2) be specific enough to guide the researcher in formulating the right approach.

Question 20

Why is marketing research valuable?

Answer 20

Because it reduces the risk in making business decisions.

Question 21

What do market researchers need to do to be considered consultants in the process rather than technicians?

Answer 21

They need to frame their discussion in terms of business issues and decisions, rather than research issues or decisions.

Question 22

What are the 4 key issues to cover when identifying research objectives?

Answer 22

1) Situational background - to understand who should be interviewed and what information should be gathered.
2) Business decision - to help decide the level of information needed and the best type of analytical approach
3) Information needs - to help in developing the questionnaire
4) logistical considerations - key to developing realistic budget and schedule

Question 23

What are four reasons for NOT conducting market research?

Answer 23

When…

1) Existing research can answer the question
2) Actual business results may provide a better answer.
3) The cost and difficulty of conducting the research outweighs the value of the information
4) The question doesn’t justify its own study.