PMM Ch 2

Question 1

What 3 crucial elements should be agreed upon in determining the purpose of research? (p.31)

Answer 1

1) the current situation involving the problem to be researched,
2) the nature of the problem
3) the specific question(s) that the research is designed to investigate

Question 2

What are the 5 P’s of the marketing research process? (p.31)

Answer 2

Purpose, Plan, Performance, Processing the data, Preparing the report

Question 3

What does a research plan contain or do? (p.32)

Answer 3

It describes the nature of the research to be conducted, including sample design, measures to be collected and types of analysis

Question 4

Name 3 key decisions related to the research plan (p.32)

Answer 4

1) primary data vs. secondary data
2) quantitative vs. qualitative
3) in-house vs. outsourced

Question 5

Name 4 common types of quantitative research (p.32)

Answer 5

1) observation, 2) surveys, 3) experiments, and 4) mathematical modeling

Question 6

What is survey research is commonly used to investigate? (p.32)

Answer 6

Customer beliefs, attitudes, satisfaction, etc.

Question 7

What are 2 examples of observational research? (p.32)

Answer 7

1) watching customers in store to understand shopping patterns, e.g., how much time in each section, how many items examined, etc.
2) traffic counts at intersections to find best locations

Question 8

What is experimental research? (p.34)

Answer 8

Manipulating one variable while examining the impact on other variables

Question 9

Give an example of experimental research (p.34)

Answer 9

Test markets, like changing a price, packaging, etc.

Question 10

What are the challenges of test markets? (p.34)

Answer 10

Hard to design and administer natural settings

Question 11

What is mathematical modeling? (p.34)

Answer 11

Involves analyzing secondary data to investigate the impact of strategies and tactics on brands and sales

Question 12

Qual or quant? - Identifying a business problem or opportunity situation, or establishing information requirements (p.34)

Answer 12

Qualitative

Question 13

Qual or quant? - Validating or answering a business problem or information requirements

Answer 13

Quantitative

Question 14

Qual or quant? - Obtaining preliminary insights into motivation, emotional, attitudinal, and personality factors that influence marketplace behavior (p.34)

Answer 14

Qualitative

Question 15

Qual or quant? - Obtaining detailed descriptions or insights into motivation, emotional, attitudinal, and personality factors that influence marketplace behavior (p.34)

Answer 15

Quantitative

Question 16

Qual or Quant? - Building theories and models to explain marketplace behaviors or relationships between 2 marketing variables. (p.34)

Answer 16

Qualitative

Question 17

Qual or Quant? - Testing theories and models to explain marketplace behaviors or relationships between 2 marketing variables. (p.34)

Answer 17

Quantitative

Question 18

Qual or Quant? - Developing valid scales for investigating specific market factors, consumer qualities (e.g., attitudes, satisfaction, etc.) and behavioral outcomes (p.34)

Answer 18

Qualitative

Question 19

Qual or Quant? - Assessing the reliability and validity of scales for investigating specific market factors, consumer qualities (e.g., attitudes, satisfaction, etc.) and behavioral outcomes (p.34)

Answer 19

Quantitative

Question 20

Qual or Quant? - Determining preliminary effectiveness of marketing strategies on actual marketplace behaviors. (p.34)

Answer 20

Qualitative

Question 21

Qual or Quant? - Assessing the effectiveness of marketing strategies on actual marketplace behaviors. (p.34)

Answer 21

Quantitative

Question 22

Qual or quant? - Developing new products and services, or repositioning current product or service images. (p.34)

Answer 22

Qualitative

Question 23

Qual or quant? - Segmenting and/or comparing large or small differences in markets, new products, services, or evaluation and repositioning of current products or service images. (p.34)

Answer 23

Quantitative

Question 24

What are four questions that segmentation can answer? (p.36)

Answer 24

What kinds of people buy our product? Where do they live? How much do they earn? How many are there?

Question 25

What does demand estimation research answer? (p.36)

Answer 25

Are the markets for our product increasing or decreasing? Are there promising markets that we have not yet reached?

Question 26

What type of research reveals: What kinds of people buy our product? Where do they live? How much do they earn? How many are there? (p.36)

Answer 26

Segmentation

Question 27

What type of research can answer this —> Are the markets for our product increasing or decreasing? Are there promising markets that we have not yet reached? (p.36)

Answer 27

Demand estimation

Question 28

What is the cardinal rule of data collection? (p.37)

Answer 28

Obtain and record the maximal amount of useful information, subject to constraints of time, money and respondent privacy

Question 29

Describe the “Performance” step (p.37)

Answer 29

Preparing for data collection and collecting data

Question 30

What is a typical trade-off in PREPARING the report? (p.38)

Answer 30

Precision of scientific language for everyday language that managers can understand