MAR 3023 Exam 2 FSU | 87 Questions and Answers
Applied Research - -Research designed to solve a specific probem. Usually for a specific
company
-Basic Research - -Research designed to extend knowledge of marketing phenomena.
-Marketing Research Process - --Problem definition
-Research design
-Sampling
-Data Gathering
-Data Analysis
-Reporting Preparation
-Primary Data - -Information that has been gathered specifically for the research
objectives at hand.
-Secondary Data - -Information that has been collected for a purpose other than the
research at hand.
-Marketing Research - -Process of designing, gathering, analyzing, and repeating
information that may be used to solve marketing problems.
-Examples of Marketing Research - --Product Development
-Product Price
-Product Strategy
-Customer Satisfaction
-Big Data
-Examples of Big Data - --Customer Orientation
-Predict Customer Behavior
-Profile entire customer journey
-Personalize and Customize Product Experiences
-Why is Marketing Research Important? - -Foundation for Marketing strategy decisions
-Research Designs - --Exploratory Research(Qualitative Research)
-Descriptive
-Casual
-Exploratory Research - -Helps in problem solving as it allows the researcher to better
define the problem by getting a look at it first hand.
-Examples of Exploratory Research - --Focus Groups
-Observation
, -Secondary Source
-Focus Groups - -A flexible, group discussion of a product, and, or concept
-Descriptive Research - -Describes the characteristics of a population. Associated with
surveys.
-Survey Research - --Mail
-Telephone
-Online
-Personal Interview Survey
-Obtained when completing research - --Cross-Tabs
-Regression
-Casual Research - -Identifies cause and effect between variables.
-Experiments
-Correlation and Causation
-Correlation does not cause Causation
-Why do Products Exist? - --Mens' Yogurt
-Boy and Girl M&M's
-Energy Drinks for Girls
-Pink Tool Set
-Market Segmentation - -Process of dividing up a market into smaller groups.
-Why do companies want to segment markets? - --The groups are designed to have similar
wants and needs.
-The idea is that firms can use their marketing mix to tailor products for the different
groups.
-Know how firms go about segmenting markets - -Cluster Analysis
-Cluster Analysis - -Firms can then plot the segments against their core competencies and
target the groups with the most sales potential.
-Repositioning - -Changing the idea behind a product to increase profit
-Use-Related Segmentation - -Categorizes consumers in terms of product service, or brand
usage characteristics, such as usage rate, awarness status, and degree of brand loyalty.
-Usage Rate - -Hevay Users, Medium Users, Light Users, Non users.
-Awareness Status - -Unaware, Aware, Interested, Enthusiastic
Applied Research - -Research designed to solve a specific probem. Usually for a specific
company
-Basic Research - -Research designed to extend knowledge of marketing phenomena.
-Marketing Research Process - --Problem definition
-Research design
-Sampling
-Data Gathering
-Data Analysis
-Reporting Preparation
-Primary Data - -Information that has been gathered specifically for the research
objectives at hand.
-Secondary Data - -Information that has been collected for a purpose other than the
research at hand.
-Marketing Research - -Process of designing, gathering, analyzing, and repeating
information that may be used to solve marketing problems.
-Examples of Marketing Research - --Product Development
-Product Price
-Product Strategy
-Customer Satisfaction
-Big Data
-Examples of Big Data - --Customer Orientation
-Predict Customer Behavior
-Profile entire customer journey
-Personalize and Customize Product Experiences
-Why is Marketing Research Important? - -Foundation for Marketing strategy decisions
-Research Designs - --Exploratory Research(Qualitative Research)
-Descriptive
-Casual
-Exploratory Research - -Helps in problem solving as it allows the researcher to better
define the problem by getting a look at it first hand.
-Examples of Exploratory Research - --Focus Groups
-Observation
, -Secondary Source
-Focus Groups - -A flexible, group discussion of a product, and, or concept
-Descriptive Research - -Describes the characteristics of a population. Associated with
surveys.
-Survey Research - --Mail
-Telephone
-Online
-Personal Interview Survey
-Obtained when completing research - --Cross-Tabs
-Regression
-Casual Research - -Identifies cause and effect between variables.
-Experiments
-Correlation and Causation
-Correlation does not cause Causation
-Why do Products Exist? - --Mens' Yogurt
-Boy and Girl M&M's
-Energy Drinks for Girls
-Pink Tool Set
-Market Segmentation - -Process of dividing up a market into smaller groups.
-Why do companies want to segment markets? - --The groups are designed to have similar
wants and needs.
-The idea is that firms can use their marketing mix to tailor products for the different
groups.
-Know how firms go about segmenting markets - -Cluster Analysis
-Cluster Analysis - -Firms can then plot the segments against their core competencies and
target the groups with the most sales potential.
-Repositioning - -Changing the idea behind a product to increase profit
-Use-Related Segmentation - -Categorizes consumers in terms of product service, or brand
usage characteristics, such as usage rate, awarness status, and degree of brand loyalty.
-Usage Rate - -Hevay Users, Medium Users, Light Users, Non users.
-Awareness Status - -Unaware, Aware, Interested, Enthusiastic
