Mktg 437 Final Exam Study terms.Questions And Aswers 2026\2027.
Marketing Research Process
1. Defining objectives and research needs
2. Designing research
3. Data collection process
4. Analyzing data and developing insights
5. Action plan and implementation
Secondary data
pieces of information that have already been collected from other sources and usually are readily
available
Primary data
data collected to address specific research needs
External secondary data
data collected from sources outside the firm
Syndicated data
data available for a fee from commercial research firms such as ACNielsen, type of external secondary
data
Scanner data
a type of syndicated external secondary data used in quantitative research that is obtained from scanner
readings of UPC codes at check out counters
Panel data
information collected from a group of consumers
Internal secondary data
data collected from a firm's own data taken from their day to day operations
Data warehouses
large computer files that store millions and even billions of pieces of individual data
Data mining
the use of a variety of statistical analysis tools to uncover previously unknown patterns in the data stored
in databases or relationships among variables
Exploratory research
a data collection technique that attempts to begin to understand the phenomenon of interest; also
provides initial information when the problem lacks any clear definition
Conclusive research
a data collection technique that provides the information needed to confirm preliminary insights, which
managers can use to pursue appropriate courses of action
Observation
, Mktg 437 Final Exam Study terms.Questions And Aswers 2026\2027.
an exploratory research method that entails examining purchase and consumption behaviors through
personal or video camera scrutiny
Crowdsourcing
an exploratory research technique that uses social media to obtain ideas and content from a large group
of people
In-depth interview
an exploratory research technique in which trained researchers ask questions, listen to and record the
answers, and then pose additional questions to clarify or expand on a particular issue
Focus group interview
a research technique in which a small group of persons (usually 8-12) comes together for an intensive
discussion about a particular topic, with the conversation guided by a trained moderator using an
unstructured method of inquiry
Survey research
a systematic means of collecting information from people that generally uses a questionnaire
Questionnaire
a form that features a set of questions designed to gather information from respondents and thereby
accomplish the researchers' objectives; questions can be either unstructured or structured
Unstructured questions
open-ended questions that allow respondents to answer in their own words
Structured questions
closed-ended questions for which a discrete set of response alternatives, or specific answers, is
provided for respondents to evaluate
Web surveying
high response rate, respondents may lie less, inexpensive, results processed and received quickly
Sample
a group of customers who represent the customers of interest in a research study
Experimental research
a type of conclusive and quantitative research that systematically manipulates one or more variables to
determine which variables have a causal effect on another variable
Advantages to secondary research
saves time
can be free or inexpensive
Disadvantages to secondary research
may not be precisely relevant
may not be timely, data sources may be biased
Advantages to primary research
Marketing Research Process
1. Defining objectives and research needs
2. Designing research
3. Data collection process
4. Analyzing data and developing insights
5. Action plan and implementation
Secondary data
pieces of information that have already been collected from other sources and usually are readily
available
Primary data
data collected to address specific research needs
External secondary data
data collected from sources outside the firm
Syndicated data
data available for a fee from commercial research firms such as ACNielsen, type of external secondary
data
Scanner data
a type of syndicated external secondary data used in quantitative research that is obtained from scanner
readings of UPC codes at check out counters
Panel data
information collected from a group of consumers
Internal secondary data
data collected from a firm's own data taken from their day to day operations
Data warehouses
large computer files that store millions and even billions of pieces of individual data
Data mining
the use of a variety of statistical analysis tools to uncover previously unknown patterns in the data stored
in databases or relationships among variables
Exploratory research
a data collection technique that attempts to begin to understand the phenomenon of interest; also
provides initial information when the problem lacks any clear definition
Conclusive research
a data collection technique that provides the information needed to confirm preliminary insights, which
managers can use to pursue appropriate courses of action
Observation
, Mktg 437 Final Exam Study terms.Questions And Aswers 2026\2027.
an exploratory research method that entails examining purchase and consumption behaviors through
personal or video camera scrutiny
Crowdsourcing
an exploratory research technique that uses social media to obtain ideas and content from a large group
of people
In-depth interview
an exploratory research technique in which trained researchers ask questions, listen to and record the
answers, and then pose additional questions to clarify or expand on a particular issue
Focus group interview
a research technique in which a small group of persons (usually 8-12) comes together for an intensive
discussion about a particular topic, with the conversation guided by a trained moderator using an
unstructured method of inquiry
Survey research
a systematic means of collecting information from people that generally uses a questionnaire
Questionnaire
a form that features a set of questions designed to gather information from respondents and thereby
accomplish the researchers' objectives; questions can be either unstructured or structured
Unstructured questions
open-ended questions that allow respondents to answer in their own words
Structured questions
closed-ended questions for which a discrete set of response alternatives, or specific answers, is
provided for respondents to evaluate
Web surveying
high response rate, respondents may lie less, inexpensive, results processed and received quickly
Sample
a group of customers who represent the customers of interest in a research study
Experimental research
a type of conclusive and quantitative research that systematically manipulates one or more variables to
determine which variables have a causal effect on another variable
Advantages to secondary research
saves time
can be free or inexpensive
Disadvantages to secondary research
may not be precisely relevant
may not be timely, data sources may be biased
Advantages to primary research
