MKT 343 EXAM 1 QUESTIONS AND ANSWERS
Marketing Research - Answers - systematic and objective
identification, collection, analysis, dissemination, and use
of information for purpose of improving decision
making related to identification and solution of
problems and opportunities in marketing.
Problem Definition Process - Answers - 1. Discussion with decision makers.
2. Interviews with experts.
3. secondary data analysis.
4. qualitative research.
5. environmental context of problem.
---Past info & forecasts.
---Resources & constraints.
---Objectives.
---Buyer behavior.
---Legal Environment.
---Economic environment.
---Marketing & tech skills.
6. Step 1: Problem Definition.
---Mgmt decision problem (broad).
---Mktg research problem (specific).
7. Step 2: Approach to problem.
---objective/theoretical foundations.
---analytical model: verbal, graphical, mathematical.
---research questions.
---hypotheses.
---specification of info needed.
8. Step 3: Research Design.
Classification of Research Design - Answers - Research Design
*Exploratory.
*Conclusive.
---Causal.
---Descriptive.
>>>Cross-sectional.
>>>Longitudinal.
Potential Sources of Error - Answers - Total Error.
*Random sampling error.
*non-sampling error.
---non-response error.
---response error.
, >>>researcher error.
>>>interviewer error.
>>>respondent error.
Secondary Data - Answers - have already been
collected for purposes other than problem at hand.
can be located quickly and inexpensively.
Primary Data - Answers - originated by researcher for
specific purpose of addressing problem at hand.
Advantages of Secondary Data - Answers - •Primary advantages:
o Acquisition cost
o Acquisition time
o Convenience
• Additional advantages:
o May help clarify or redefine problem definition
o May provide solution to problem
o May aid in primary research design
o Provides background info enhancing research
credibility
Disadvantages of Secondary Data - Answers - • Lack of Availability
o Might not be any available data on topic
• Lack of Relevance
o might be outdated
• Inaccuracy
o Might be biased - intentionally or unintentionally
o Questionable source
Qualitative Research - Answers - ---gain a qualitative
understanding of the
underlying reasons and
motivations.
---sample: small number of non-representative cases.
---data collection: Unstructured or semi-structured techniques e.g. individual depth
interviews or group discussions.
---data analysis: Non-statistical.
---outcome: develop initial understanding.
Quantitative
Research - Answers - ---quantify the data and
generalize the results from the
sample to the population of
interest.
---sample: large number of representative cases.
Marketing Research - Answers - systematic and objective
identification, collection, analysis, dissemination, and use
of information for purpose of improving decision
making related to identification and solution of
problems and opportunities in marketing.
Problem Definition Process - Answers - 1. Discussion with decision makers.
2. Interviews with experts.
3. secondary data analysis.
4. qualitative research.
5. environmental context of problem.
---Past info & forecasts.
---Resources & constraints.
---Objectives.
---Buyer behavior.
---Legal Environment.
---Economic environment.
---Marketing & tech skills.
6. Step 1: Problem Definition.
---Mgmt decision problem (broad).
---Mktg research problem (specific).
7. Step 2: Approach to problem.
---objective/theoretical foundations.
---analytical model: verbal, graphical, mathematical.
---research questions.
---hypotheses.
---specification of info needed.
8. Step 3: Research Design.
Classification of Research Design - Answers - Research Design
*Exploratory.
*Conclusive.
---Causal.
---Descriptive.
>>>Cross-sectional.
>>>Longitudinal.
Potential Sources of Error - Answers - Total Error.
*Random sampling error.
*non-sampling error.
---non-response error.
---response error.
, >>>researcher error.
>>>interviewer error.
>>>respondent error.
Secondary Data - Answers - have already been
collected for purposes other than problem at hand.
can be located quickly and inexpensively.
Primary Data - Answers - originated by researcher for
specific purpose of addressing problem at hand.
Advantages of Secondary Data - Answers - •Primary advantages:
o Acquisition cost
o Acquisition time
o Convenience
• Additional advantages:
o May help clarify or redefine problem definition
o May provide solution to problem
o May aid in primary research design
o Provides background info enhancing research
credibility
Disadvantages of Secondary Data - Answers - • Lack of Availability
o Might not be any available data on topic
• Lack of Relevance
o might be outdated
• Inaccuracy
o Might be biased - intentionally or unintentionally
o Questionable source
Qualitative Research - Answers - ---gain a qualitative
understanding of the
underlying reasons and
motivations.
---sample: small number of non-representative cases.
---data collection: Unstructured or semi-structured techniques e.g. individual depth
interviews or group discussions.
---data analysis: Non-statistical.
---outcome: develop initial understanding.
Quantitative
Research - Answers - ---quantify the data and
generalize the results from the
sample to the population of
interest.
---sample: large number of representative cases.
