Marketing Research (Quiz 1)

Components of an MIS:

1. Internal reports system 2. Marketing Intelligence System 3. Marketing Decision Support System 4. Marketing Research System

The marketing research process contains multiple steps. The first step of the process is: A) Establishing the need for marketing research. B) Defining the problem. C) Establishing the research objectives. D) Determining methods of accessing data.

A) Establishing the need for marketing research.

After many years of relative stability in marketing research methods, the industry is undergoing great change due to: A) New sources of data and technology. B) Expanded focus on qualitative methods. C) Reluctance of clients to adopt new research methods. D) New uses of traditional research tools.

A) New sources of data and technology.

The information that tells the researcher exactly what needs to be gathered and analyzed to allow managers to make decisions related to a problem is contained in the: A) Research objectives. B) Research design. C) Research methodologies. D) Research plan.

A) Research objectives.

For many years, the marketing concept has been recognized as the "right philosophy" because: A) It is well established in marketing literature. B) It recognizes that profits are a result of sales volume. C) It always focuses on the consumer. D) It does not rely on high-pressure selling.

C.) It always focuses on the consumer

Which of the following does NOT represent the maintenance of marketing research integrity? A) Data will never be falsified or omitted. B) Research results will be reported accurately and honestly. C) Research companies may withhold damaging client data. D) Researchers will not misrepresent the impact of the sampling method and its impact on sample data.

C.) Research companies may withhold damaging client data.

The term used for research conducted within an organization is called: A) Internal research. B) Market-side research. C) Supplier-side research. D) Client-side research.

D) Client-side research.

To successfully minimize product and service failures companies should: A) Develop better project management systems. B) Motivate employees to reduce high failure rates. C) Focus on defining the best set of product dimensions to match core competencies. D) Determine how to create, communicate, and deliver value by "hearing the voice" of the consumer.

D) Determine how to create, communicate, and deliver value by "hearing the voice" of the consumer.

What is the definition of marketing research? A) The process of analyzing secondary information and providing executives with timely reports to solve a marketing problem. B) The process of designing experiments that provides decision makers with causal information. C) The process of analyzing existing information so decision makers can make better decisions. D) The process of designing, gathering, analyzing, and reporting information that may be used to solve a specific marketing problem.

D) The process of designing, gathering, analyzing, and reporting information that may be used to solve a specific marketing problem.

Supply-side research

External suppliers hired to fulfill a company's marketing research needs.Supplier or agency: firm specializing in marketing research that offers its services to buyers needing information to make more informed decisions.

Market research

a process used to define the size, location, and/or makeup of the market for a product or service

A MIS

a structure consisting of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers.•

marketing strategy

consists of selecting a segment of the market as the company's target market and designing the proper "mix" of the product/service, price, promotion, and distribution system to meet the wants and needs of the consumers within the target market.

DYI research:

facilitated by Internet, firms have access to secondary data, online survey platforms and better knowledge of data analysis software such as Excel, SPSS, R, Tableau, Python, SAS

Full-service supplier firms:

have the capability to conduct the entire marketing research project for buyer firms.

Secondary information:

information already collected.

Primary information

information collected specifically for the problem at hand.

Basic research

is conducted to expand our knowledge rather than to solve a specific problem.

Applied research

is conducted to solve specific problems.

Primary data

is more complex

Marketing research

is the process of designing, gathering, analyzing, and reporting information that may be used to solve a specific marketing problem.

Client-side research

organizations that supply their own marketing research information.Internal suppliers: Formal departments or individuals conduct research internally.

Secondary data

relatively easy to access

Limited-service supplier firms:

specialize in one or, at most, a few marketing research activities.

Marketing

the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

Marketing research (AMA):

the function that links the consumer, customer, and public to the marketer through information - information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve the understanding of marketing as a process.

Marketing research

the process of designing, gathering, analyzing, and reporting information that may be used to solve a specific marketing problem