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What is Marketing Research?
The gathering , recording, and analysis of data about issues relating to marketing products and services.
Define reliability?
The consistency of a measure; a reliable measure produces similar results under consistent conditions.
Define Validity?
The extent to which a measure accurately represents what it is supposed to measure.
What is the limitations of the Observation method?
It can be time- consuming it may not reveal the reasons behind behaviors and can be a subject to observer bias.
What are the limitations in marketing research?
Money, and time.
A data collection method where researchers observe subjects in a natural environment without directly interacting with them.
What is secondary Data?
The measure that produces similar results under consistent conditions.
Give an example of Primary Data?
Conducting a surgery or an interview.
Why is Validity Important?
It ensures that the research is measuring what it intends to measure.
Give an example of a secondary Data?
using census data and publishing research reports.
What is Primary Data?
Data collected directly from the source for a specific research purpose.
What is a Focus Group?
A small group of people who respond to something that is being studied.
What are common methods used in qualitative research?
Interviews, Focus groups, and studies
What are the advantages of using a marketing information system?
It provides timely and accurate information for decision-making, it improves marketing efficiency and helps in strategic planning.
Why is reliability important?
Because it ensures that the research findings are constant and can be trusted.
What are some common tools used in quantitative research?
Survey's, analysis software
What is the difference between Reliability and Validity?
Reliability is about the consistency of a measure while Validity is about the accuracy of a measure.
How can focus groups be used in marketing research?
Numerical data that can be statistically analyzed.
Explain 3 trends in marketing research?
1. Data
2. Social Media
3. Global Market
How does secondary Data help in the marketing research process?
It provides background information it helps define research problems and can be used to generate hypotheses.
What is the first step in marketing research?
Defining the problem or research objective.
What type of insights does qualitative research provide?
In depth understanding of consumer attitudes, behaviors, and motivations.
What are the two types of research?
a. primary research
b. Secondary research.
What is the nature and scope of marketing information?
involves the collection, recording, and analysis of information.