@PROFDOCDIGITALLIBRARIES
SOLUTION MANUAL
Marketing Research 12th Edition by Carl McDaniel Jr. & Roger Gates
U
LT
IM
AT
ES
TU
D
Y
,@PROFDOCDIGITALLIBRARIES
CHAPTER 1
Steps in Creating Market
Insights and the Growing Role
U
of Marketing Analytics
LT
LEARNING OBJECTIVES
IM
1. Comprehend the marketing environment within which managers must
make decisions.
2. Examine the growing impact of marketing analytics.
3. Analyze the problem definition process.
4. Learn the steps involved in the marketing research process.
AT
5. Understand the components of the research request.
6. Appreciate the importance of the marketing research proposal.
7. Comprehend the impact of marketing analytics, big data, and the growth
of unsupervised learning.
ES
8. Examine what motivates decision makers to use marketing research
information.
KEY TERMS
TU
Big data Case analysis Casual studies
Descriptive function Descriptive studies Diagnostic function
Experience surveys Experiments Exploratory research
Hypothesis Management decision Marketing research
D
problem
Marketing research Marketing research online Marketing research
objective community problem
Y
Marketing strategy Nonprobability sample Observation research
Opportunity identification Pilot studies Predictive function
Probability sample Request for proposal (RFP) Research design
Research request Situation analysis Structural data
Supervised learning Survey research Unstructured data
Unsupervised learning Variable
,@PROFDOCDIGITALLIBRARIES
CHAPTER SUMMARY
This chapter serves as an introduction to marketing research. It starts by defining
marketing research and then explaining its various roles. Social media has changed
the relationship between firms and their customers and this is briefly addressed.
Also addressed is the role of analytics in marketing and marketing research.
U
The chapter then describes the research process. This begins with a description of
the problem (or opportunity) definition process. It then moves to a discussion of
LT
what information/data is required for the research and how ultimately a decision
will be made. Next, the chapter discusses the types of research that can be
performed, such as exploratory or secondary data analysis. Once the data needs
IM
have been identified, the book discusses checking to see if that data already exists.
If it does, the firm does not need to spend time and money to generate the data.
Next, it describes the research objectives and how to convert these to hypotheses.
AT
Next, the chapter discusses basic methods of research like surveys, observations,
and experiments. As part of this, it discusses sampling procedures, collecting the
data, analyzing the data, and then reporting on the data.
The chapter then discusses how to manage the research process. It describes the
ES
research request, an RFP, a proposal, and what to look for in a supplier. It then
explains the impact of ―big data‖ and marketing analytics. The chapter closes with
a discussion of what motivates managers and decision makes to actually use the
resulting research information.
TU
D
Y
, @PROFDOCDIGITALLIBRARIES
QUESTIONS FOR REVIEW &
CRITICAL THINKING
1. The role of marketing is to create exchanges. What role might marketing
research play in facilitating the exchange process?
U
Exchange can take place when two or more parties have something of potential value
to each other and can communicate and deliver these desired goods or services.
Marketing research helps these parties to determine what goods or services are desired
LT
by other parties and at what price level these goods and services become of value. In
other words, marketing research aids managers in determining who wants benefits
from goods or services and where, when, and at what price an exchange can occur.
IM
2. Marketing research has traditionally been associated with manufacturers of
consumer goods. Today an increasing number of organizations, both profit and
nonprofit, are using marketing research. Why do you think this trend exists?
AT
Give some examples.
Marketing research helps all organizations follow the principle of the ―marketing
concept.‖ Profit-making organizations face increasing amounts of competition from
U.S. companies, as well as from global companies. Also, both profit-making and
ES
nonprofit organizations are serving an increasingly diverse clientele. Marketing
research helps to identify target customers and their needs in a rapidly changing
environment.
TU
3. Comment on the following statement by the owner of a restaurant in a
downtown area: ―I see customers every day whom I know on a first-name basis.
I understand their likes and dislikes. If I put something on the menu and it
doesn’t sell, I know that they didn’t like it. I also read the magazine Modern
Restaurants, to keep up with industry trends. This is all of the marketing
D
research that I need to do.‖
This restaurant owner may know customers by name, but the assertion about
understanding their tastes may be over-confident. An item on the menu may not sell
Y
because the customers are not familiar with it. Or, it may be perceived as too
expensive. There could be many reasons why a product might not sell as well as the
owner wants it to. By conducting marketing research, the owner could better
determine the preferences of customers and potential customers. This would save the
money, effort, and time of changing the menu selection. While a national magazine
can determine national trends in the restaurant business, these trends are not always
SOLUTION MANUAL
Marketing Research 12th Edition by Carl McDaniel Jr. & Roger Gates
U
LT
IM
AT
ES
TU
D
Y
,@PROFDOCDIGITALLIBRARIES
CHAPTER 1
Steps in Creating Market
Insights and the Growing Role
U
of Marketing Analytics
LT
LEARNING OBJECTIVES
IM
1. Comprehend the marketing environment within which managers must
make decisions.
2. Examine the growing impact of marketing analytics.
3. Analyze the problem definition process.
4. Learn the steps involved in the marketing research process.
AT
5. Understand the components of the research request.
6. Appreciate the importance of the marketing research proposal.
7. Comprehend the impact of marketing analytics, big data, and the growth
of unsupervised learning.
ES
8. Examine what motivates decision makers to use marketing research
information.
KEY TERMS
TU
Big data Case analysis Casual studies
Descriptive function Descriptive studies Diagnostic function
Experience surveys Experiments Exploratory research
Hypothesis Management decision Marketing research
D
problem
Marketing research Marketing research online Marketing research
objective community problem
Y
Marketing strategy Nonprobability sample Observation research
Opportunity identification Pilot studies Predictive function
Probability sample Request for proposal (RFP) Research design
Research request Situation analysis Structural data
Supervised learning Survey research Unstructured data
Unsupervised learning Variable
,@PROFDOCDIGITALLIBRARIES
CHAPTER SUMMARY
This chapter serves as an introduction to marketing research. It starts by defining
marketing research and then explaining its various roles. Social media has changed
the relationship between firms and their customers and this is briefly addressed.
Also addressed is the role of analytics in marketing and marketing research.
U
The chapter then describes the research process. This begins with a description of
the problem (or opportunity) definition process. It then moves to a discussion of
LT
what information/data is required for the research and how ultimately a decision
will be made. Next, the chapter discusses the types of research that can be
performed, such as exploratory or secondary data analysis. Once the data needs
IM
have been identified, the book discusses checking to see if that data already exists.
If it does, the firm does not need to spend time and money to generate the data.
Next, it describes the research objectives and how to convert these to hypotheses.
AT
Next, the chapter discusses basic methods of research like surveys, observations,
and experiments. As part of this, it discusses sampling procedures, collecting the
data, analyzing the data, and then reporting on the data.
The chapter then discusses how to manage the research process. It describes the
ES
research request, an RFP, a proposal, and what to look for in a supplier. It then
explains the impact of ―big data‖ and marketing analytics. The chapter closes with
a discussion of what motivates managers and decision makes to actually use the
resulting research information.
TU
D
Y
, @PROFDOCDIGITALLIBRARIES
QUESTIONS FOR REVIEW &
CRITICAL THINKING
1. The role of marketing is to create exchanges. What role might marketing
research play in facilitating the exchange process?
U
Exchange can take place when two or more parties have something of potential value
to each other and can communicate and deliver these desired goods or services.
Marketing research helps these parties to determine what goods or services are desired
LT
by other parties and at what price level these goods and services become of value. In
other words, marketing research aids managers in determining who wants benefits
from goods or services and where, when, and at what price an exchange can occur.
IM
2. Marketing research has traditionally been associated with manufacturers of
consumer goods. Today an increasing number of organizations, both profit and
nonprofit, are using marketing research. Why do you think this trend exists?
AT
Give some examples.
Marketing research helps all organizations follow the principle of the ―marketing
concept.‖ Profit-making organizations face increasing amounts of competition from
U.S. companies, as well as from global companies. Also, both profit-making and
ES
nonprofit organizations are serving an increasingly diverse clientele. Marketing
research helps to identify target customers and their needs in a rapidly changing
environment.
TU
3. Comment on the following statement by the owner of a restaurant in a
downtown area: ―I see customers every day whom I know on a first-name basis.
I understand their likes and dislikes. If I put something on the menu and it
doesn’t sell, I know that they didn’t like it. I also read the magazine Modern
Restaurants, to keep up with industry trends. This is all of the marketing
D
research that I need to do.‖
This restaurant owner may know customers by name, but the assertion about
understanding their tastes may be over-confident. An item on the menu may not sell
Y
because the customers are not familiar with it. Or, it may be perceived as too
expensive. There could be many reasons why a product might not sell as well as the
owner wants it to. By conducting marketing research, the owner could better
determine the preferences of customers and potential customers. This would save the
money, effort, and time of changing the menu selection. While a national magazine
can determine national trends in the restaurant business, these trends are not always
