Vocabulary
Research Types
Random I
MIM
Random II
100
The management and allocation of resources, events and processes to create goods and services.
What is production scheduling?
100
Sales records - internal or external?
What is internal?
100
Internal records that many businesses monitor in order to obtain useful marketing information.
What are sales reports or sales data?
100
Focus group
What is a group of pre-selected people (usually target market) to help marketers in research.
100
Marketing information.
What is data collected from internal or external sources or from marketing research. Helps with all aspects of marketing (products, competition, customers etc.)
200
Define primary and secondary data.
What is original data or facts collected for a purpose or specific research question (primary) and information and conclusions gathered from reviewing primary data (secondary).
200
Data obtained from trade or industrial associations or government agencies - internal or external?
What is external?
200
A competing company introduced their new product -- the widget -- last week. Is this a fact, prediction or estimate?
What is a fact?
200
3 methods of collecting primary data
What are in depth interviews, focus groups, surveys or experiments.
200
Difference between qualitiative and quantitative date.
What is deals with descriptions and can be observed (qualitative) versus deals with numbers and can be measured (quantitative).
300
Tournament
What is organized among a number of competitors who are contesting against each other within the discipline of a well defined game.
300
Type of data that deals with descriptions and can be observed not measured - qualitative or quantitative?
What is qualitative?
300
Define internal and external data sources.
What is within the company (internal) e.g. sales forecasts/reports, budgets and originates outside of the company (external) e.g. trade journals, government or internet.
300
Pros and Cons of surveys.
What are Pros - provides data, cheap, fast, good sample size and can ask questions; Cons - Low participation and feedback is limited (they are also annoying to customers unless they are offered an incentive).
300
A course of action to be followed if a preferred plan fails or an existing situation changes.
What is contingency plan (Plan B)?
400
Define fact, estimate and prediction.
What is something that exists or reality (fact); a judgement or calculation (estimate); forecast of something in the future (prediction).
400
Marketers hold a focus group to learn more about how customers feel toward a new product - what type of data is this (2 types)?
What is primary and qualitative?
400
What internal company records might a business use to analyze information regarding customer satisfaction levels?
What are comment cards or customer survey data?
400
Pros and Cons of Experiments.
What are Pros - they are conducted at the store and you get customer natural reactions; Cons - small sample size and sometimes hard to control and the data interpretation.
400
Name 3 purposes of production schedules.
What are balancing client needs with available resources; keeping the event on scheduled with minimal issues; provide timing of tasks (personnel and locations)?
500
Define project plan and who is involved (3).
What is a unique task with a beginning and an end and has specific and measureable objectives. A project manager, stakeholders and participants are involved with a project plan.
500
Marketers read articles in trade journals to learn about the latest trends in their industry - what type of data is this (2 types)?
What is secondary and external?
500
Define the following types of tournaments: Scramble, Ladder, Round Robin and Single Elimination.
What is used in golf where all players hit and select the best ball to shoot from (scramble); individual contests and players/teams move up or down based on results (ladder); everyone plays each other at least 1 time (round robin); when you lose you no longer play in the tournament (single elimination).
500
Pros and Cons of a focus group.
What are Pros - can get customer reactions and monitor them along with target market participants; Cons - expensive, small sample size and leader can be biased.
500
4 C's - steps in maintaining a competitor database.
What are Collect information; Convert information (make it useful); Communication the information; Counter competitive actions (be competitive - use it).
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