MKTG 323 Exam 1 - FLASHCARDS - Session 1
(20 cards)
What is MDP?
MDP is the decision problem faced by the manager.
What is MRP?
MRP is the research problem faced by the researchers.
What is the Mays MBA example?
Management decision problem.
What indicates a marketing research problem?
If it says why it happened, it is a marketing research problem.
What is marketing research?
The planning, collection, and analysis of data that is relevant to marketing decision making AND communication of results to management.
True or false: marketing research involves designing methods for collecting information?
TRUE
True or false: marketing research includes managing the information collection process?
TRUE
True or false: marketing research includes analyzing and interpreting results?
TRUE
True or false: marketing research includes communicating findings to decision makers?
TRUE
What is the purpose of marketing research?
Improve decision making related to the identification and solution of problems and opportunities in marketing, and decrease the risks associated with organizational decision making.
What question is asked in the descriptive function of marketing research?
What has happened?
What question is asked in the diagnostic function of marketing research?
Why did it happen?
In what function of marketing research do you identify cause and effect relationships in order to predict what will happen?
Predictive function.
What is phase one of the marketing research process?
Determine the research problem: •Identify the business problem or market opportunity •Define the research questions.
What is phase two of the marketing research process?
Select the appropriate research design.
What are types of secondary data?
•Qualitative research: observation and focus group •Quantitative research: survey.
What is phase three of the marketing research process?
Execute the research design.
What are ways you can execute the research design?
•Plan a sample •Collect the data •Analyze the data.
What is phase four of the marketing research process?
Communicate the research results.
What are ways to communicate your research results?
•Obtain statistical results •Provide business recommendations.
