Chapter 1
Chapter 1
Chapter 1&2
Chapter 2
Chapter 2
100
Market Research is test driving a vehicle before getting a car loan. True/False?
True
100
Define "Predictive" Market Research
Specification of how to use descriptive and diagnostic research to predict the results of a planned marketing decision
100
Which are Useful Market Research questions? 1. What can I offer that a competitor can’t? 2. How much are buyers willing to pay? 3. Is there a profit margin?
All three are Useful Market Research questions.
100
Descriptive Studies: • Answer the ____, _____, ____ and ___ • To gain better understanding of the ___ • Determine trends, brand ______, customer profiles
Descriptive Studies: • Answer the what, where, when and how • To gain better understanding of the market • Determine trends, brand loyalty, customer profiles
100
What do these statements describe? 1. Describes potential research project 2. Includes estimated costs
The Research Request
200
Market Research Could be, learning whether the economy is going downhill before opening a new upscale clothing store. True/False?
True
200
Customer acquisition is important, as well as _______ _______.
Customer Retention
200
Define Programmatic type research.
Develop marketing options through segmentation, opportunity analyses, or consumer attitudes and predict usage studies
200
What kind of research: 1. Confirms theories 2. Identifies cause and effect 3. Shows clear relationships between independent and dependent variables
Causal Research
200
What do these statements describe? 1. Soliciting suppliers to submit formal proposal 2. Includes bid for contract
Request for Proposal
300
What are the three phases of Market Research?
1. Planning 2. Collecting 3. Analyzing
300
Market Research should be Proactive or Reactive?
Proactive.
300
Define Selective type research.
Test decision alternatives
300
What kind of sampling; 1. Samples a subset of the population 2. Assumed to be a representative cross-section 3. Every element in the population has a known chance of being selected
Probability Sampling
300
Name all ten components found in a Market Research Proposal.
1. Title Page 2. Statement of Research Objectives 3. Study Design 4. Areas of Questioning 5. Data Analysis 6. Personnel Involved 7. Specifications and Assumptions 8. Services 9. Cost 10. Timing/Timeline
400
Define "Descriptive" Market Research
Gathering and presenting statements of fact
400
What kind of Research reduces uncertainty in management decision-making? Basic or Applied?
Applied
400
Define Evaluative type research.
Assess program performance
400
What kind of sampling; 1. Samples a subset of the population 2. Chances of selection for the various elements in the population are unknown 3. Usually based on convenience
Non-probability Sampling
400
What is the crucial first step in the Market Research process?
Identification of the problem and the statement of research objectives.
500
Define "Diagnostic" Market Research
Explanation of data or actions
500
Managers cannot agree on what they need to know. Should you conduct Market Research? Yes/No?
No
500
Define "Research Design"
The plan to be followed to answer the marketing research objectives
500
Completing the research process involves; 1. __________ the Data 2. _________ the Data
1. Collecting the Data 2. Analyzing the Data
500
What are the three steps from Management to the Research problem?
1. Management Decision Problem – action oriented, broader 2. Marketing Research Problem – what information is needed to solve the management problem? 3. Marketing Research Objective – goal statement
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