T3 - mkt information

Question 1

What is marketing information system (MIS)?

Answer 1

• structure put in place to manage information gathered during the usual operations of the org

Question 2

Market research process (5)

Answer 2

1. defining the research problem
2. designing the research methodology
3. collecting data
4. analysing data and drawing conclusions
5. presenting results and making recommendations

Question 3

Types of research (3)

Answer 3

1. exploratory research
   - not much info yet
2. descriptive research
   - solving a well defined problem
   - clarifying characteristics that need to be researched
3. causal research
   - assumes a particular variables causes a specific outcome
   - then test whether the variable does affect the outcome
   - aka, a hypothesis is generated for testing

Question 4

Types of data (2)

Answer 4

1. primary data
   - observed or collected directly
2. secondary data
   - insights gained from info that is already available

Question 5

Research methods (2)

Answer 5

1. quantitative (numerical and statistics)
   - surveys
   - interviews
2. qualitative (detailed responses, ‘why’, behaviural)
   - focus groups
   - observations