MKT 337 Exam 2 Questions with
Guaranteed Pass Solutions.
Why do we need marketing research? - Answer To answer these four questions:
1. What Value?
2. Which measures matter?
3. What works?
4. What if?
marketing research - Answer procedures to develop and analyze new information to help
marketing managers make decisions
- a wide range of techniques such as surveys, internet searches
-big companies turn to specialists
Effective Marketing requires good information - Answer 1.Marketing information to inform
management
2.Marketing managers use research to make marketing decisions
Marketing Information System (MIS) - Answer an organized way of continually gathering,
accessing, and analyzing information that marketing managers need to make ongoing decisions
big data - Answer data sets too large and complex to work with typical database
management tools
volume: quantity of data
velocity: if firm can act fast
variety: create opportunities
veracity: can we trust?
data warehouse - Answer a place where databases are stored so that they are available when
needed
Marketing Decision Support Systems - Answer An interactive, flexible computerized
information system that enables managers to obtain and manipulate information as they are
making decisions
,Interactive
Flexible
Discovery oriented
Accessible
Marketing Research - Answer Process of planning, collecting, and analyzing data relevant to a
marketing decision
Descriptive: gathering and presenting factual statements
Diagnostic: explaining data
Predictive: address "what if" questions
decision support system (DSS) - Answer a computer program that makes it easy for marketing
managers to get and use information as they are making decisions
marketing dashboard - Answer displays up-to-the-minute marketing information in an easy-
to-read format--much like a car's dashboard shows the speedometer and fuel gauge
marketing model - Answer a statement of relationships among marketing variables
Personal Data - Answer information that can be used by itself or in combination with other
information to identify someone, raises questions about privacy
General Data Protection Regulation (GDPR) - Answer A legal framework that sets guidelines
for the collection and processing of personal information of individuals within the European
Union (EU)
scientific method - Answer a decision-making approach that focuses on being objective and
orderly in testing ideas before accepting them
hypotheses - Answer educated guesses about the relationships between things or about
what will happen in the future
marketing research process - Answer a five-step application of the scientific method that
includes
(1) defining the problem,
(2) analyzing the situation,
, (3) getting problem-specific data
(4) interpreting the data
(5) solving the problem
Situation analysis - Answer an informal study of what information is already available in the
problem area
secondary data - Answer information that has been collected or published already
primary data - Answer information specifically collected to solve a current problem
sentiment analysis - Answer an automated process of analyzing and categorizing social media
to determine the amount of positive, negative, and neutral online comments a brand receives
research proposal - Answer a plan that specifies what marketing research information will be
obtained and how
qualitative research - Answer seeks in-depth, open-ended responses, not yes or no answers
customer journey map - Answer it is the story and graphic diagram of a customer's
experience in the buying process from need aw
focus group interview - Answer an interview of 6 to 10 people in an informal group setting
quantitative research - Answer seeks structured responses that can be summarized in
numbers--such as percentages, averages, or other statistics
response rate - Answer the percentage of people contacted in a research sample who
complete the questionnaire
consumer panel - Answer a group of consumers who provide information on a continuing
basis
experimental method - Answer a research approach in which researchers compare the
responses of two or more groups that are similar except on the characteristic being tested
statistical packages - Answer easy-to-use computer programs that analyze data
Guaranteed Pass Solutions.
Why do we need marketing research? - Answer To answer these four questions:
1. What Value?
2. Which measures matter?
3. What works?
4. What if?
marketing research - Answer procedures to develop and analyze new information to help
marketing managers make decisions
- a wide range of techniques such as surveys, internet searches
-big companies turn to specialists
Effective Marketing requires good information - Answer 1.Marketing information to inform
management
2.Marketing managers use research to make marketing decisions
Marketing Information System (MIS) - Answer an organized way of continually gathering,
accessing, and analyzing information that marketing managers need to make ongoing decisions
big data - Answer data sets too large and complex to work with typical database
management tools
volume: quantity of data
velocity: if firm can act fast
variety: create opportunities
veracity: can we trust?
data warehouse - Answer a place where databases are stored so that they are available when
needed
Marketing Decision Support Systems - Answer An interactive, flexible computerized
information system that enables managers to obtain and manipulate information as they are
making decisions
,Interactive
Flexible
Discovery oriented
Accessible
Marketing Research - Answer Process of planning, collecting, and analyzing data relevant to a
marketing decision
Descriptive: gathering and presenting factual statements
Diagnostic: explaining data
Predictive: address "what if" questions
decision support system (DSS) - Answer a computer program that makes it easy for marketing
managers to get and use information as they are making decisions
marketing dashboard - Answer displays up-to-the-minute marketing information in an easy-
to-read format--much like a car's dashboard shows the speedometer and fuel gauge
marketing model - Answer a statement of relationships among marketing variables
Personal Data - Answer information that can be used by itself or in combination with other
information to identify someone, raises questions about privacy
General Data Protection Regulation (GDPR) - Answer A legal framework that sets guidelines
for the collection and processing of personal information of individuals within the European
Union (EU)
scientific method - Answer a decision-making approach that focuses on being objective and
orderly in testing ideas before accepting them
hypotheses - Answer educated guesses about the relationships between things or about
what will happen in the future
marketing research process - Answer a five-step application of the scientific method that
includes
(1) defining the problem,
(2) analyzing the situation,
, (3) getting problem-specific data
(4) interpreting the data
(5) solving the problem
Situation analysis - Answer an informal study of what information is already available in the
problem area
secondary data - Answer information that has been collected or published already
primary data - Answer information specifically collected to solve a current problem
sentiment analysis - Answer an automated process of analyzing and categorizing social media
to determine the amount of positive, negative, and neutral online comments a brand receives
research proposal - Answer a plan that specifies what marketing research information will be
obtained and how
qualitative research - Answer seeks in-depth, open-ended responses, not yes or no answers
customer journey map - Answer it is the story and graphic diagram of a customer's
experience in the buying process from need aw
focus group interview - Answer an interview of 6 to 10 people in an informal group setting
quantitative research - Answer seeks structured responses that can be summarized in
numbers--such as percentages, averages, or other statistics
response rate - Answer the percentage of people contacted in a research sample who
complete the questionnaire
consumer panel - Answer a group of consumers who provide information on a continuing
basis
experimental method - Answer a research approach in which researchers compare the
responses of two or more groups that are similar except on the characteristic being tested
statistical packages - Answer easy-to-use computer programs that analyze data
