Marketing Research chapter 1

•Chinese prefer __________ to save money and enjoy it with green tea

"knock-offs"

_____ is the application of the scientific method in searching for the truth about business phenomena.

C. Business Research

_____ is conducted to address a specific business decision for a specific firm or organization.

D. Applied business research

A business researcher needs to be subjective in order to provide accurate information.

FALSE

Business research is basically about conducting surveys.

FALSE

Business research is restricted to for-profit organizations.

FALSE

Conducting research to determine why consumers visit Starbucks is an example of basic business research.

FALSE

Developing and implementing a business strategy involves six stages.

FALSE

Performance-monitoring research is primary used to evaluate employees.

FALSE

Research plays a more prominent role in product-oriented companies than in customer-oriented companies.

FALSE

Research should be conducted regardless of how long it will take to perform.

FALSE

Researchers in different functional areas of a business differ in the respect that they typically use different research methods.

FALSE

The procedures and techniques used by applied researchers and basic researchers differ substantially.

FALSE

Business research can be directed toward an element of an organization's internal operations.

TRUE

Communication technologies have impacted business research greatly.

TRUE

The scientific method used by researchers is essentially the same process in social sciences, such as business, as it is in "hard" sciences, such as biology or physics.

TRUE

The term "research" means "to search again."

TRUE

When ideas can be stated in researchable terms, we reach the hypothesis stage of the scientific method.

TRUE

•The decision-making process associated with the development and implementation of a business strategy involves four interrelated stages:

1.Identifying problems and opportunities 2.Diagnosing and assessing problems or opportunities 3.Selecting and implementing a course of action 4.Evaluating the course of action I.D.S.E.

•The determination of the need for research centers on:

1.Time constraints 2.The availability of data 3.The nature of the decision to be made 4.Benefits versus costs (the value of the research information in relation to costs) T.A.N.BC.

Which of the following are the two types of business research based on the specificity of its purpose?

A. basic and applied

Which of the following is FALSE regarding business research?

B. Business research is not considered rigorous enough to apply the scientific method.

•Not-for-profit organizations and governmental agencies _____ use research in much the same was as managers in _____-_______ organizations.

can; for-profit

When conducting research internationally, it is important to _____ research results, which means the researcher verifies that the empirical findings from one culture also exist and behave similarly in another culture.

cross-validate

•Japanese use "jacques" Daniels as a _______ beverage

dinner

•Scientific Method: •The analysis and interpretation of _________ ________ (facts from observation or experimentation) to _______ or ________ prior conceptions

empirical evidence ; confirm; disprove

Which of the following is the LAST step in developing and implementing a business strategy?

evaluating the course of action

The Chief Financial Officer (CFO) requested research to determine if the financing option the company implemented for a new capital investment initiative achieved the objective of reducing the company's tax liability. Which type of research is appropriate for evaluating this course of action?

evaluation research

•Australian's drink distilled spirits at _______

home

Which of the following is the first step in developing a business strategy?

identifying problems or opportunities

Business research

is the application of the scientific method in searching for the truth about business phenomena

A production-oriented firm focuses its research on _____.

line employees, engineers, accountants, and other efficiency experts

All of the following are business orientations EXCEPT _____.

management-oriented

All of the following are factors considered when deciding whether or not research is needed EXCEPT _____.

managerial experience

A firm focusing more on how to provide value to customers than on the physical product or production process is embracing which business orientation?

marketing orientation

In general, the ______ important a decision is strategically to the organization, the ______ likely that research will be undertaken.

more; more

When Target stores monitors the sales activities of its retail stores in order to detect any indication of dollar sales changes, this is an example of which type of research?

performance-monitoring research

Wal-Mart is the low-cost leader in retail. This company achieves this success by prioritizing efficiency in its distribution process. Which business orientation is Wal-Mart exhibiting when it prioritizes efficiency and effectiveness of the supply chain process (i.e., getting products into the stores) in making decisions?

production-orientated

•Basic business research is also called _____ research

pure

25. Which of the following refers to the way researchers go about using knowledge and evidence to reach objective conclusions about the real world?

scientific method

When a manager decides not to do research because a decision needs to be made before the results of the study can be analyzed, this is an example of which aspect in the determination of the need for marketing research?

time constraints

Business Research in the 21st Century •Communication Technologies

•Always "connected"—time, place, and distance are irrelevant. •Decreases in information acquisition, storage, access, and transmission costs.

•Global Business Research

•Business research is increasingly global. •Must understand the nature of particular markets. •Cross-validation

Managerial Value of Business Research •There are only a few business orientations:

•Product-oriented •Production-oriented •Marketing-oriented

•Performance Monitoring Research

•Research that regularly, sometimes routinely, provides feedback for evaluation and control of business activity.

•Evaluation Research

•The formal, objective measurement and appraisal of the extent a given activity, project, or program has achieved its objectives.

•Scientific Method:

•The way researchers go about using knowledge and evidence to reach objective conclusions about the real world.

•Applied business research:

•conducted to address a SPECIFIC business decision for a specific firm or organization.

•Basic business research (also called pure research)

•conducted without a specific decision in mind that usually does not address the needs of a specific organization.

The business research process includes:

•idea and theory development •problem definition •searching for and collecting information •analyzing data •communicating the findings and their implications (I.P.S.A.C.)

•This definition suggests that business research information is:

•not intuitive or haphazardly gathered •accurate and objective •relevant to all aspects of the business •limited by one's definition of business

Basic business research

◗Attempts to expand the limits of knowledge in general. ◗Not aimed at solving a pragmatic problem.

Examples of Basic business research:

◗Do consumers experience cognitive dissonance in low-involvement situations? ◗Does employee tenure with a company influence productivity?

Examples of applied business research:

◗Should McDonald's add Italian pasta dinners to its menu? ◗Which health insurance plan should a business provide for its employees?

•Cross-validation

◗Verify that the empirical findings from one culture also exist and behave similarly in another culture.

What are some questions to ask to see if Business Research is Needed?

◗Will the payoff or rate of return be worth the investment? ◗Will the information improve the quality of the managerial decision enough to warrant the expenditure? ◗Is the expenditure the best use of the available funds?

When a manager is trying to decide whether a new product launch decision should be postponed until some additional research can be conducted, which of the following questions should this manager ask himself or herself? A. Is the proposed research expenditure the best use of the available funds? B. Will the information gained by business research improve the quality of the business decision enough to warrant the expenditure? C. Will the payoff from the research be worth the dollar expenditures for research? D. all of these choices

D. all of these choices

Pamela is testing the hypothesis that employees will be more productive working in offices painted with muted colors rather than bold colors. Pamela is conducting _____.

D. business research

All of the following are important aspects of the business research process EXCEPT _____. A. gathering information B. idea and theory development C. analyzing data D. making results publicly available

D. making results publicly available

_____ is the formal, objective measurement and appraisal of the extent a given activity, project, or program has achieved its objectives or whether continuing programs are presently performing as projected.

Evaluation research

Campbell's Soup is considering launching a new gumbo product and is testing different recipes with consumers before full commercialization. What type of research is Campbell's using to determine which soup consumers will like the best?

applied research

•British like to drink at ______ and restaurants

bars

A business professor is examining the relationship between age and ethical business behavior. The research is not being conducted for any specific business or even industry, but rather it is intended to better understand and predict this behavior across all aspects of business. This professor is conducting which type of business research?

basic business research

Which type of research tries to verify a theory or to learn more about a business concept and is not intended to solve a particular business problem?

basic research

Consumer research conducted in the United States indicates that many consumers consider the country of origin when purchasing products, and consumers tend to prefer products that are made in the U.S.A. To determine if consumers in other countries are partial to their own country's products, what must be done before the empirical findings from the research conducted among U.S. consumers also exist and behave similarly in another culture?

cultural cross-validation