MKTG 202: Marketing Research || Questions with
Complete Solutions.
Market Opportunity correct answers A situation that makes some potential competitive
advantage possible i.e. Amazon recently launched Amazon Cash in the US, enabling consumers
without credit cards to shop online by adding credit to their personal Amazon accounts.
Market Problem correct answers A situation that makes some significant negative consequence
more likely i.e. If you had a gardening tools business, one problem could be that paper yard bags
do not stay open while people are weeding.
Key Dilemmas a Marketing Researcher has to face. correct answers - Recognising the nature of
the problem or opportunity.
- Identifying how much information is currently available and how reliable it is.
- Determining what information is needed to better deal with the situation.
Advantages and Disadvantages of Focus Group Interviews: correct answers - Can be done
quickly, Gain Multiple Perspectives & Flexibility.
- Results do not generalise to larger population, Difficult to use for sensitive topics & Expensive.
Advantages and Disadvantages of Interviews correct answers - Gain considerable insight from
each individual & Good for understanding unusual behaviours.
- Results not meant to generalise & Very expensive per each interview.
Advantages and Disadvantages of Semi-Structured Interviews correct answers - Can address
more specific issues, Results can be easily interpreted & Cost advantages over other interview
types.
- Lack the flexibility that is likely to produce truly creative or novel explanations.
Advantages and Disadvantages of Observation correct answers - Unobtrusive & Actual
behaviour pattern can be recorded.
- Can be very expensive with participant observer series.
Advantages and Disadvantages of Word Association/Sentence Completion correct answers -
Lacking flexibility that is likely to produce truly creative or novel explanations.
Key Decisions to make a Marketing Research Plan correct answers Problem Discovery &
Definition
- Define Research Objectives
- Selection of Exploratory Research Technique (i.e. secondary data, previous research,
experience survey & case study)
- Problem Definition
Planning the Research Design
, - Selection of Basic Research Method (i.e. survey, experiment, secondary data study &
observation)
Sampling
- Selection of Sample Design (i.e. probability & non-probability sampling)
Data Gathering
- Collection of Data
Data Processing and Analysis
- Editing and Coding Data
- Data Processing and Analysis
Drawing Conclusions and Preparing Report
- Interpretation of Findings
- Report
Why is it so important for marketing researchers to consider ethical issues in observation studies
(you may use examples to argue)? What is the basic framework for ethical examination in
observation studies (four aspects)? (2) correct answers We are trying to get information from
people. This information could be personal and sensitive. We have to maintain integrity to deal
with this information. So we shouldn't reveal personal information about participants that helped
with the research and you cant't half participants from the research as well.
- Is Behaviour Commonly Performed in Public Where Others Can Plainly See?
- Is Behaviour Performed in a Selling in Which Anonymity Is Assured?
- Has the Person Been Adequately Notified That Behaviour Is Being Observed?
- Has the Person Agreed to Be Observed?
What are the basic exploratory research techniques? Explain why and how they can help obtain
insights and gain ideas of a marketing problem. correct answers Previous Research:
- Summarises, collates and/or synthesises existing research.
- It can help you decide if you need to conduct primary market research,
- Information helps the company decide what to do next and to make the right decision.
Pilot Studies:
- Evaluate's feasibility, time, cost, adverse events,
- Improve's upon the study design prior to performance of a full-scale research project.
- Pilot studies fulfil a range of important functions and can provide valuable insights for other
researchers.
Case Studies:
- It involves an up-close, in-depth, and detailed examination of a subject of study, as well as its
related contextual conditions.
- Performed before implementing a large scale investigation.
- It help's to identify questions and select types of measurement prior to the main investigation.
Complete Solutions.
Market Opportunity correct answers A situation that makes some potential competitive
advantage possible i.e. Amazon recently launched Amazon Cash in the US, enabling consumers
without credit cards to shop online by adding credit to their personal Amazon accounts.
Market Problem correct answers A situation that makes some significant negative consequence
more likely i.e. If you had a gardening tools business, one problem could be that paper yard bags
do not stay open while people are weeding.
Key Dilemmas a Marketing Researcher has to face. correct answers - Recognising the nature of
the problem or opportunity.
- Identifying how much information is currently available and how reliable it is.
- Determining what information is needed to better deal with the situation.
Advantages and Disadvantages of Focus Group Interviews: correct answers - Can be done
quickly, Gain Multiple Perspectives & Flexibility.
- Results do not generalise to larger population, Difficult to use for sensitive topics & Expensive.
Advantages and Disadvantages of Interviews correct answers - Gain considerable insight from
each individual & Good for understanding unusual behaviours.
- Results not meant to generalise & Very expensive per each interview.
Advantages and Disadvantages of Semi-Structured Interviews correct answers - Can address
more specific issues, Results can be easily interpreted & Cost advantages over other interview
types.
- Lack the flexibility that is likely to produce truly creative or novel explanations.
Advantages and Disadvantages of Observation correct answers - Unobtrusive & Actual
behaviour pattern can be recorded.
- Can be very expensive with participant observer series.
Advantages and Disadvantages of Word Association/Sentence Completion correct answers -
Lacking flexibility that is likely to produce truly creative or novel explanations.
Key Decisions to make a Marketing Research Plan correct answers Problem Discovery &
Definition
- Define Research Objectives
- Selection of Exploratory Research Technique (i.e. secondary data, previous research,
experience survey & case study)
- Problem Definition
Planning the Research Design
, - Selection of Basic Research Method (i.e. survey, experiment, secondary data study &
observation)
Sampling
- Selection of Sample Design (i.e. probability & non-probability sampling)
Data Gathering
- Collection of Data
Data Processing and Analysis
- Editing and Coding Data
- Data Processing and Analysis
Drawing Conclusions and Preparing Report
- Interpretation of Findings
- Report
Why is it so important for marketing researchers to consider ethical issues in observation studies
(you may use examples to argue)? What is the basic framework for ethical examination in
observation studies (four aspects)? (2) correct answers We are trying to get information from
people. This information could be personal and sensitive. We have to maintain integrity to deal
with this information. So we shouldn't reveal personal information about participants that helped
with the research and you cant't half participants from the research as well.
- Is Behaviour Commonly Performed in Public Where Others Can Plainly See?
- Is Behaviour Performed in a Selling in Which Anonymity Is Assured?
- Has the Person Been Adequately Notified That Behaviour Is Being Observed?
- Has the Person Agreed to Be Observed?
What are the basic exploratory research techniques? Explain why and how they can help obtain
insights and gain ideas of a marketing problem. correct answers Previous Research:
- Summarises, collates and/or synthesises existing research.
- It can help you decide if you need to conduct primary market research,
- Information helps the company decide what to do next and to make the right decision.
Pilot Studies:
- Evaluate's feasibility, time, cost, adverse events,
- Improve's upon the study design prior to performance of a full-scale research project.
- Pilot studies fulfil a range of important functions and can provide valuable insights for other
researchers.
Case Studies:
- It involves an up-close, in-depth, and detailed examination of a subject of study, as well as its
related contextual conditions.
- Performed before implementing a large scale investigation.
- It help's to identify questions and select types of measurement prior to the main investigation.
