MKT 300 Questions and answers well
defined 100%
Purposes of market research - ANS✅✅describe, diagnose, predict market success
Benefits of market research - ANS✅✅helps you get consumer insight, optimize mkt mix,
market research - ANS✅✅The systemic design, collection, analysis, and reporting of information to
help marketers solve specific marketing problems or take advantage of marketing opportunities
Consumer Insight - ANS✅✅The systemic design, collection, analysis, and reporting of information
to help marketers solve specific marketing problems or take advantage of marketing opportunities
super important, what differentiates chipotle from all other burritos places
Mkt research process - ANS✅✅1 define the prob
2 design the research
3 conduct the research
4 analyze the data
5 address the problem
Mkt research process reliability, validity, representativeness - ANS✅✅The design of the research
project
Mkt research process research design strats - ANS✅✅
Mkt research process scales - ANS✅✅interval, nominal, ordinal, ratio
Mkt research process question types - ANS✅✅open ended, closed ended, multiple choice, scaled,
semantic difference
Mkt research process sample plans - ANS✅✅
, Brand development index
ex: redbull, a brand - ANS✅✅BDI = (percentage of brand to total US sales in market/Percentage of
total us pop in market) *100
ex 40/20 = 200
Numerator > denominator = greater than 100
Category Development Index
ex: energy drinks, a category - ANS✅✅CDI = (percentage of product category total sales in
market/percentage of total US population in market) * 100
5 step decision making process - ANS✅✅1 Need recognition
2 information search
3 evaluate alternatives
4 purchase decision
5 postpurchase evaluation
evoked set model - ANS✅✅
consumer decision strats - ANS✅✅compensatory, and non-compensatory
compensatory - ANS✅✅Cost-benefit analysis
Which one does the +'s most outweigh the -'s?
Multi-Attribute
non compensatory - ANS✅✅Immediate rejection based on some factor
2. Conjunctive
3. Lexicographic - who's the best at the most important attribute
multi attribute - ANS✅✅List outcomes, rate each outcome on importance
How strong is belief that each alternative can meet outcome
Weighted total derived by multiplying importance rating by your evaluation
defined 100%
Purposes of market research - ANS✅✅describe, diagnose, predict market success
Benefits of market research - ANS✅✅helps you get consumer insight, optimize mkt mix,
market research - ANS✅✅The systemic design, collection, analysis, and reporting of information to
help marketers solve specific marketing problems or take advantage of marketing opportunities
Consumer Insight - ANS✅✅The systemic design, collection, analysis, and reporting of information
to help marketers solve specific marketing problems or take advantage of marketing opportunities
super important, what differentiates chipotle from all other burritos places
Mkt research process - ANS✅✅1 define the prob
2 design the research
3 conduct the research
4 analyze the data
5 address the problem
Mkt research process reliability, validity, representativeness - ANS✅✅The design of the research
project
Mkt research process research design strats - ANS✅✅
Mkt research process scales - ANS✅✅interval, nominal, ordinal, ratio
Mkt research process question types - ANS✅✅open ended, closed ended, multiple choice, scaled,
semantic difference
Mkt research process sample plans - ANS✅✅
, Brand development index
ex: redbull, a brand - ANS✅✅BDI = (percentage of brand to total US sales in market/Percentage of
total us pop in market) *100
ex 40/20 = 200
Numerator > denominator = greater than 100
Category Development Index
ex: energy drinks, a category - ANS✅✅CDI = (percentage of product category total sales in
market/percentage of total US population in market) * 100
5 step decision making process - ANS✅✅1 Need recognition
2 information search
3 evaluate alternatives
4 purchase decision
5 postpurchase evaluation
evoked set model - ANS✅✅
consumer decision strats - ANS✅✅compensatory, and non-compensatory
compensatory - ANS✅✅Cost-benefit analysis
Which one does the +'s most outweigh the -'s?
Multi-Attribute
non compensatory - ANS✅✅Immediate rejection based on some factor
2. Conjunctive
3. Lexicographic - who's the best at the most important attribute
multi attribute - ANS✅✅List outcomes, rate each outcome on importance
How strong is belief that each alternative can meet outcome
Weighted total derived by multiplying importance rating by your evaluation
