Module 3: Role of Research in Marketing

Question 1

Companies need to gather insights from their costumers in order to provide a well-suited product or marketing campaign for them

Answer 1

Utilizing Marketing Insights

Question 2

can be built by collecting consumer and market information electronically

Answer 2

Internal Data

Question 3

The systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketplace

Answer 3

(Kotler and Armstrong, 2014)

Question 4

Competitive marketing intelligence techniques:

Answer 4

• Observing customer behavior and reactions
• Casually chatting with customers on product effectiveness
• Monitoring online feedback and conversations of customer
• Benchmarking competitors’ products with company’s own
• Monitoring marketing activities and expenses of competitors
• Monitoring online engagement of competitors

Question 5

The process of planning, collecting, and analyzing data relevant to a marketing decision.

Answer 5

Marketing Research

Question 6

The Research Process

Answer 6

• Identify the research problems and objectives
• Develop the research design
• Collect Data
• Analyze data and interpret research findings.
• Prepare the research report

Question 7

A problem can be an issue to be resolved, a challenge be addressed, a difficulty to be eliminated, or an area of concern for the company.

Answer 7

Identifying the Research Problem and Objectives

Question 8

Expresses the specific goals that the research wants to achieve.

Answer 8

Objective

Question 9

Consists of information collected specifically for the research.

Answer 9

Primary Data

Question 10

Are existing information collected for reasons other than the specific research.

Answer 10

Secondary Data

Question 11

Data collected by an outside organization such as population statistics, published articles, and commercial data being sold by research companies.

Answer 11

External Data

Question 12

Data that give descriptive, non-statistical information.

Answer 12

Qualitative Research

Question 13

Yields empirical and statistical information.

Answer 13

Quantitative Research

Question 14

Systematically choosing the responders to represent a portion of the population.

Answer 14

Sampling

Question 15

Everyone in the population being studied has a known chance of being selected as a respondent and results are more likely.

Answer 15

Probability Sampling

Question 16

More subjective and makes little attempt to get a representative cross section of the population.

Answer 16

Non-probability Sampling

Question 17

Survey conducted in any online platform such as e-mail, social media, or survey Web sites, are becoming more popular nowadays.

Answer 17

Online Surveys

Question 18

Researcher records or takes note of the answers of the respondent over a phone line.

Answer 18

Telephone Survey

Question 19

Printed questionnaire is sent to the respondents.

Answer 19

Mail Surveys

Question 20

Participants answer question face-to-face.

Answer 20

Personal Interview

Question 21

After data collection, the next step is data and interpretation, where conclusions will based on.

Answer 21

Data Analysis and Interpretation