MAR 4156 Exam 2 Questions with Correct Answer1

MAR 4156 Exam 2 Questions with Correct Answers
Steps in the Research Process Correct Answer-1. Identify the
information requirement
2. Define the problem
3. Choose a unit of analysis
4. Examine data availability
5. Assess value of research
6. Design the research
7. Analyze the data
8. Present the findings


Identify the Information Requirement Correct Answer-What information
do I need and why do I need this information?
- in existing markets, customers may already be being served, so
information may be readily available.
- potential markets:
>latent market- undiscovered
>incipient market- market will emerge


Define the Problem and Overcoming SRC Correct Answer-Self-
Reference Criterion occurs when a person's values and beliefs intrude on
the assessment of a foreign culture
• Must be aware of SRC's
- Enhances management's willingness to conduct

, market research
- Ensures that research design has minimal home-country bias
- Increases management's receptiveness to findings


Choose a Unit of Analysis Correct Answer-Will the market be:
- Global
- A region
- A country
- A province
- A state
- A city


Examine Data Availability Correct Answer-Sources may be:
- Company's records
- Secondary sources
• Trade journals
• Government sources like CIA World Factbook, Statistical Yearbook of
the UN, World Bank
• Commercial sources like The Economist and Financial Times,
Marketresearch.com


Assess Value of Research Correct Answer-What is the information
worth vs. what it will cost to collect?
• What will it cost if the data are not collected?