MKT 315 COMPREHENSIVE EXAM 2025/2026 QUESTIONS
AND SOLUTIONS MARKED A+
✔✔Secondary Data - ✔✔The information collected by another person, system, or
organization for a different purpose than the current issue being studied.
✔✔Sources of Secondary Data - ✔✔Internal sources : include accounting and financial
records, customer records, previous research, company experts, distribution channel
partners, etc.
External sources : include published articles, reports, and studies, industry experts,
industry trade associations, financial analyses, etc.
✔✔Secondary Data pros and cons - ✔✔
✔✔Qualitative Research - ✔✔Defined as open-ended research meant to better
understand consumer reasoning and includes focus groups, interviews, and
observational studies.
✔✔Quantitative Research - ✔✔Structured research that is meant to answer a question
in a way that can be communicated through numbers or statistics and includes surveys,
behavioral and psychological research, analytics, and experiments.
✔✔Primary Data pros and cons - ✔✔Advantages: Specific to the questions that need to
be answered. Provides the most timely data. Meets key research objectives. Can be
gathered, measured, and presented in the most relevant way. The data collected is
proprietary and can be used as a competitive advantage
Disadvantages: Provides only a narrow perspective. It can be time consuming. It can be
expensive. Errors in design can skew the results. It can be outside of the budget for
small companies and startups.
✔✔Methods for Collecting Data - ✔✔Mail - Surveys are delivered and returned via the
UPS mail system.
Telephone - Surveys and interviews are conducted by trained staff or computed-
assisted via telephone.
In Person - Conducted by trained staff via personal interviews, this method is used for
surveys, interviews, focus groups, and other research methods.
Online - Web sites assist data collection for surveys, focus groups, observation, and
analytics.
Mobile Devices - Assist data collection like web sites.
✔✔Five-Step Marketing Research Approach - ✔✔1. Define the problem
2. Develop the research plan
3. Collect relevant information
, 4. Develop findings
5. Take marketing actions
✔✔Define the problem - ✔✔set research objectives, identify possible marketing actions
✔✔Develop the research plan - ✔✔specify constraints, identify data needed for
marketing actions, determine how to collect data
✔✔collect relevant information - ✔✔Obtain secondary data; Obtain Primary Data; Use
Information technology and data mining
✔✔develop findings - ✔✔analyze the data, draw conclusions and present the findings
✔✔Take marketing actions - ✔✔make recommendations based on the findings,
implement actions based on those recommendations, and evaluate results.
✔✔Consumer buying behavior - ✔✔How and Why people buy products and service as
they do.
✔✔Factors Influencing Consumer Behavior - ✔✔1. Psychological : Learning, motivation,
perception, personality, attitude, lifestyle
2.Sociocultural : Family, social class, culture, subculture, reference groups
3. Economic : Consumer's income level, income of other members of family, liquid
assets, attitude toward spending
4. Personal : Family size and family life cycle, occupation, age, gender, income,
education
✔✔sociocultural influences - ✔✔Occur based on social interactions and include: Family,
Friends, Culture, Sub-culture, social class
✔✔Demographics - ✔✔Descriptors of humans and human populations
✔✔Generational Cohorts - ✔✔People born during the same period and who share
common life experiences.
✔✔Family Life Cycle - ✔✔Describes different stages based on household composition.
Ex) - Young singles-Married with young children-Empty nesters- Old married couples
Each stage has different buying patterns based on needs, wants, and learned behaviors
✔✔Situational Factors - ✔✔Arise at the time of the purchase that may affect the
purchase:
-Task
-Social Surroundings
-Physical Environment
-Temporal Effects
AND SOLUTIONS MARKED A+
✔✔Secondary Data - ✔✔The information collected by another person, system, or
organization for a different purpose than the current issue being studied.
✔✔Sources of Secondary Data - ✔✔Internal sources : include accounting and financial
records, customer records, previous research, company experts, distribution channel
partners, etc.
External sources : include published articles, reports, and studies, industry experts,
industry trade associations, financial analyses, etc.
✔✔Secondary Data pros and cons - ✔✔
✔✔Qualitative Research - ✔✔Defined as open-ended research meant to better
understand consumer reasoning and includes focus groups, interviews, and
observational studies.
✔✔Quantitative Research - ✔✔Structured research that is meant to answer a question
in a way that can be communicated through numbers or statistics and includes surveys,
behavioral and psychological research, analytics, and experiments.
✔✔Primary Data pros and cons - ✔✔Advantages: Specific to the questions that need to
be answered. Provides the most timely data. Meets key research objectives. Can be
gathered, measured, and presented in the most relevant way. The data collected is
proprietary and can be used as a competitive advantage
Disadvantages: Provides only a narrow perspective. It can be time consuming. It can be
expensive. Errors in design can skew the results. It can be outside of the budget for
small companies and startups.
✔✔Methods for Collecting Data - ✔✔Mail - Surveys are delivered and returned via the
UPS mail system.
Telephone - Surveys and interviews are conducted by trained staff or computed-
assisted via telephone.
In Person - Conducted by trained staff via personal interviews, this method is used for
surveys, interviews, focus groups, and other research methods.
Online - Web sites assist data collection for surveys, focus groups, observation, and
analytics.
Mobile Devices - Assist data collection like web sites.
✔✔Five-Step Marketing Research Approach - ✔✔1. Define the problem
2. Develop the research plan
3. Collect relevant information
, 4. Develop findings
5. Take marketing actions
✔✔Define the problem - ✔✔set research objectives, identify possible marketing actions
✔✔Develop the research plan - ✔✔specify constraints, identify data needed for
marketing actions, determine how to collect data
✔✔collect relevant information - ✔✔Obtain secondary data; Obtain Primary Data; Use
Information technology and data mining
✔✔develop findings - ✔✔analyze the data, draw conclusions and present the findings
✔✔Take marketing actions - ✔✔make recommendations based on the findings,
implement actions based on those recommendations, and evaluate results.
✔✔Consumer buying behavior - ✔✔How and Why people buy products and service as
they do.
✔✔Factors Influencing Consumer Behavior - ✔✔1. Psychological : Learning, motivation,
perception, personality, attitude, lifestyle
2.Sociocultural : Family, social class, culture, subculture, reference groups
3. Economic : Consumer's income level, income of other members of family, liquid
assets, attitude toward spending
4. Personal : Family size and family life cycle, occupation, age, gender, income,
education
✔✔sociocultural influences - ✔✔Occur based on social interactions and include: Family,
Friends, Culture, Sub-culture, social class
✔✔Demographics - ✔✔Descriptors of humans and human populations
✔✔Generational Cohorts - ✔✔People born during the same period and who share
common life experiences.
✔✔Family Life Cycle - ✔✔Describes different stages based on household composition.
Ex) - Young singles-Married with young children-Empty nesters- Old married couples
Each stage has different buying patterns based on needs, wants, and learned behaviors
✔✔Situational Factors - ✔✔Arise at the time of the purchase that may affect the
purchase:
-Task
-Social Surroundings
-Physical Environment
-Temporal Effects
