Chapter 7

Question 1

Marketing Research

Answer 1

The process of collecting and analyzing information in order to recommend actions

Question 2

What is a decision?

Answer 2

conscious choice among two alternatives

Question 3

What are the five steps of the marketing research plan

Answer 3

1. Define the problem
2. Develope the research plan
   Collect relavant information
3. Develop findings
4. Take marketing actions

Question 4

What stages occur during the “define the problem step”

Answer 4

1. Set research objectives

2. Indentifiy possible marketing actions

Question 5

What occurs during step two, “Develop the researching plan”

Answer 5

1. Specify constraints
2. Indentify data needed for marketing actions
3. Determine how to collect data

Question 6

What happens during step three “Collect relevant information”

Answer 6

1. Obtain secondary data

2. Obtain Primary data

Question 7

What happens during step four?

Answer 7

1. Analyze the data

2. Present the findings

Question 8

What happens during step five, “Take marketing actions”

Answer 8

1. Make action recommendations
2. Implement action recommendations
3. Evaluate results

Question 9

What are measures of success

Answer 9

criteria or standards used in evaluating proposed solutions to the problem

Question 10

What are constraints

Answer 10

Restrictions placed on potential solutions to a problemWhat are concepts

Question 11

What are concepts

Answer 11

ideas about products or services

Question 12

What is selecting a group of distributors, customers, or prospects , asking the mquestions, and treating their answers typical of all those in whom tthey are interested

Answer 12

sampling

Question 13

What is statistical iference

Answer 13

generalizing sampling results to much larger groups

Question 14

What is data?

Answer 14

facts and figures related to the problem

Question 15

What is secondary data

Answer 15

data that have already been recorded prior to the project at hand

Question 16

What are the tro types of secondary data?

Answer 16

internal and external

Question 17

What is primary data

Answer 17

facts and figures that are newly collected for a project

Question 18

What are the two sources of internal secondary data

Answer 18

marketing inputs

marketing outcomes

Question 19

Whar are marketing input data

Answer 19

Things like budgets, financial statements, sales reports

Question 20

What are marketing outcome data

Answer 20

actual sales and customer communications

Question 21

What are the main two advantages of secondary data?

Answer 21

1. time savings

2. Cheaper

Question 22

Disadvantages of secondary data

Answer 22

1. out of date

2. Too general

Question 23

What are the two main types of primary data collection

Answer 23

Watching people

Asking people

Question 24

Observational Data

Answer 24

Facts and figures obtained by wartching either mechanically or ion person how people behave

Question 25

What is ethnographic research

Answer 25

Watching consumers in their natural environments

Question 26

What are the two braod types of primary data collection

Answer 26

Idea generation methods | 2. Idea evalation methods

Question 27

Questionnaire data

Answer 27

Facts and figures obtained by asking people about their attitudes, awareness, intentions, and behaviors

Question 28

What is a focus-group?

Answer 28

A group of 6 to 10 past, present, or prospective customers in which a moerator asks their opinions about the firms and competitors' prodcuts, how they use those products etc. (Often recorded and done with one-way glass)

Question 29

What are some idea evaluation methods?

Answer 29

questionnaires using personal, mail, telephone, fax, and online surveys

Question 30

Why are online surveys used?

Answer 30

low cost, fast turnaround

Question 31

What is an open-ended question?

Answer 31

respondants express opiinions, ideas, etc

Question 32

What is a close-ended question?

Answer 32

predetermined choices

Question 33

dichotomous question

Answer 33

yes/no

Question 34

semantic differential

Answer 34

five point scale in which the opposite ends have one or two word adjectives that have opposite meanings

Question 35

What are some other sources of primary data?

Answer 35

social media panels and experiments information technology data mining

Question 36

What is a test market

Answer 36

offering a product for sale in a small geographic area to help evaluate potential marketing actions

Question 37

What is a sales forecast

Answer 37

the total sales of a product that a firm expects to sell during a specified time period under specified conditions