MARK 3000 MCMANUS TEST 2 LATEST 2025 WITH CORRECT
QUESTIONS AND DETAILED ANSWERS/ALREADY GRADED A+
The research process - CORRECT ANSWER-1. Defining the objectives and
research needs
2. Designing the research
3. Data collection process
4. Analyzing data and developing insights
5. Action plan and implementation
Defining the objectives and research needs - CORRECT ANSWER-What
information is needed to answer specific research questions?
How should that information be obtained?
Designing the research - CORRECT ANSWER-type of data (secondary vs.
primary) and type of research (quantitative vs. qualitative)
Types of Data - CORRECT ANSWER-secondary and primary
,Secondary data - CORRECT ANSWER-data that already exists; pieces of
information collected prior to your research; "looking things up"
Primary Data - CORRECT ANSWER-your data; data collected specifically for this
research; creating new information
External Secondary Data - CORRECT ANSWER-government sources, census,
syndicated data
syndicated data - CORRECT ANSWER-compiled data sold to others
Internal Secondary Data - CORRECT ANSWER-data warehouse, data mining
data warehouse - CORRECT ANSWER-A logical collection of information -
gathered from many different operational databases - that supports business
analysis activities and decision-making tasks; compilation of lots and lots of data
data mining - CORRECT ANSWER-looking through lots of data to predict trends
Primary data collection - CORRECT ANSWER-can be done through qualitative
methods or quantitative methods
, qualitative methods - CORRECT ANSWER-provide initial information, generally
in-depth and unstructured, includes: observation, in-depth interviews, focus
groups, and social media research
observation - CORRECT ANSWER-can be manual (like a class checker),
mechanical (like a turnstile that counts how many people enter/exit a building), or
ethnographic (like MTV going to a place and observing people)
In-Depth Interviews - CORRECT ANSWER-limited number, somewhat
unstructured, time consuming and costly
Focus Groups - CORRECT ANSWER-8-12 consumers, discuss one topic,
facilitated by a trained professional, want homogenous participants
Social Media Research - CORRECT ANSWER-monitoring blogs, online
communities, sentiment mining
Quantitative Research - CORRECT ANSWER-large numbers of respondents,
statistically valid, can generalize to the population (so it is important that your
sample is reflective of the population); methods include experiments, surveys,
scanner/panel
experiments - CORRECT ANSWER-Changing a variable and analyzing results
Usually change one of 4 Ps' and look at either sales or awareness
Field or Lab
QUESTIONS AND DETAILED ANSWERS/ALREADY GRADED A+
The research process - CORRECT ANSWER-1. Defining the objectives and
research needs
2. Designing the research
3. Data collection process
4. Analyzing data and developing insights
5. Action plan and implementation
Defining the objectives and research needs - CORRECT ANSWER-What
information is needed to answer specific research questions?
How should that information be obtained?
Designing the research - CORRECT ANSWER-type of data (secondary vs.
primary) and type of research (quantitative vs. qualitative)
Types of Data - CORRECT ANSWER-secondary and primary
,Secondary data - CORRECT ANSWER-data that already exists; pieces of
information collected prior to your research; "looking things up"
Primary Data - CORRECT ANSWER-your data; data collected specifically for this
research; creating new information
External Secondary Data - CORRECT ANSWER-government sources, census,
syndicated data
syndicated data - CORRECT ANSWER-compiled data sold to others
Internal Secondary Data - CORRECT ANSWER-data warehouse, data mining
data warehouse - CORRECT ANSWER-A logical collection of information -
gathered from many different operational databases - that supports business
analysis activities and decision-making tasks; compilation of lots and lots of data
data mining - CORRECT ANSWER-looking through lots of data to predict trends
Primary data collection - CORRECT ANSWER-can be done through qualitative
methods or quantitative methods
, qualitative methods - CORRECT ANSWER-provide initial information, generally
in-depth and unstructured, includes: observation, in-depth interviews, focus
groups, and social media research
observation - CORRECT ANSWER-can be manual (like a class checker),
mechanical (like a turnstile that counts how many people enter/exit a building), or
ethnographic (like MTV going to a place and observing people)
In-Depth Interviews - CORRECT ANSWER-limited number, somewhat
unstructured, time consuming and costly
Focus Groups - CORRECT ANSWER-8-12 consumers, discuss one topic,
facilitated by a trained professional, want homogenous participants
Social Media Research - CORRECT ANSWER-monitoring blogs, online
communities, sentiment mining
Quantitative Research - CORRECT ANSWER-large numbers of respondents,
statistically valid, can generalize to the population (so it is important that your
sample is reflective of the population); methods include experiments, surveys,
scanner/panel
experiments - CORRECT ANSWER-Changing a variable and analyzing results
Usually change one of 4 Ps' and look at either sales or awareness
Field or Lab
