Marketing unit 6

What is a hypothesis?

A hypothesis is a statement of the expected outcomes of the research- a theory you are trying to prove or disprove.

Explain the last step in the marketing-research process.

Researchers prepare a written report of their findings and suggest a course of action for the business.

To explore the situation to determine the current situation to test situation to predict future situations

What are the four categories of research objectives?

Why should data be analyzed after they are collected?

Data should be analyzed after they are collected to determine how they relate to the research objectives. Data must be analyzed and transformed into information to be useful.

Why is determining the research design for a marketing-research project important?

Determining the research design for a marketing-research project involves creating a master plan for how the research will be carried out. This helps to keep the project on track. Putting the research design in writing helps ensure that the business and the researcher, whether a company employee or an outside consultant, have the same information.

Why is marketing research important?

Helps marketers keep up with trends and consumers helps businesses make better decisions Contributes to businesses success.

What is marketing research?

Marketing research is the systematic gathering, recording, and analyzing of data about a specific issue, situation, or concern.

Explain the initial step in the marketing-research process.

The first step in the research process is identifying the problem, issue, situation, or concern to be researched. This is an important step because if the business does not clearly identify and define the reason for the research, the business may invest its time and money unwisely.

How does the size of a business or organization influence how it carries out marketing research?

The larger the size or the business might have there own department that does their market research for them, or they may have to hire a outside marketing firm to do their research for them.

How do businesses use marketing research?

To develop a profile of the typical customer to analyze the businesses sales market to describe the target market to determine how to research the product market to forecast sales and trends be more competitive to prevent unnecessary finical losses to keep up to date to maintain or determine image

Explain the five questions that a written research design should address.

What types of data are needed? How much data will be collected? Where will researchers find the data? What primary data-collection methods will be used? How will the data be analyzed?

What are the three basic data-collection methods used in marketing research?

survey, observation and experiment.

What are seven characteristics of marketing research?

systematic accurate objective through timely reliable valid