MAR 3023 Exam 2 Review Questions with Answers
marketing research - -the process of getting info that can be used to understand and solve
a customer's wants and needs
*Is the foundation for marketing strategy decisions*
-Secondary data - -collected for purposed other than current research (ex. Customer
reviews, sales records)
-Primary data - -collected for the specific research currently happening (ex. Surveys, focus
groups)
-approaches to a market research study - -1. Exploratory
2. Descriptive
3. Experimental
-Exploratory Research - -done to understand a problem or situation
less structured data collection methods
(ex. interviews, focus groups)
-descriptive research - -describes characteristics of a group (how many, how much, when,
where) ex. surveys
-experimental research - -looks for cause and effect relationships
-difference between correlation and causation - -correlation: two things that are
connected
causation: only determinable through experiment
-applied research - -to solve a specific problem a company has
-basic research - -designed to solve problems that multiple companies would have
(marketing phenomena)
-marketing research process - -1. Problem Definition
2. Research design
3. Sampling
4. Data gathering
5. Data Analysis
6. Report Preparation
marketing research - -the process of getting info that can be used to understand and solve
a customer's wants and needs
*Is the foundation for marketing strategy decisions*
-Secondary data - -collected for purposed other than current research (ex. Customer
reviews, sales records)
-Primary data - -collected for the specific research currently happening (ex. Surveys, focus
groups)
-approaches to a market research study - -1. Exploratory
2. Descriptive
3. Experimental
-Exploratory Research - -done to understand a problem or situation
less structured data collection methods
(ex. interviews, focus groups)
-descriptive research - -describes characteristics of a group (how many, how much, when,
where) ex. surveys
-experimental research - -looks for cause and effect relationships
-difference between correlation and causation - -correlation: two things that are
connected
causation: only determinable through experiment
-applied research - -to solve a specific problem a company has
-basic research - -designed to solve problems that multiple companies would have
(marketing phenomena)
-marketing research process - -1. Problem Definition
2. Research design
3. Sampling
4. Data gathering
5. Data Analysis
6. Report Preparation
