BUSML 4202 Exam 1
Marketing Research - Answer--process of designing studies and gathering, analyzing, and reporting info
that reduces uncertainty and leads to better managerial decision-making
-used to determine customer needs, evaluate benefit of product changes/line extensions, measure
satisfaction, and assess demands
Purpose of marketing research - Answer--aims to get marketing mix right
-help avoid failures by identifying opportunities and problems, monitoring performance, and linking
marketing input with outputs of interest, such as awareness
Descriptive role - Answer--role of marketing research that gathers statements of fact (demographics,
customer satisfaction)
Diagnostic/Explanatory role - Answer--role of marketing research that explains effects of current
marketing mix and identifies possible new courses of action (explain trends of satisfaction)
Predictive role - Answer--role of marketing research that predicts results of planned marketing decision
Independent variables - Answer--controllable variable
-includes marketing mix: pricing, promotion, product, and place
Dependent variables - Answer--behavior response variable
-includes awareness, knowledge, liking, preference, intent to buy, purchase
-managers will not know this
,How to evaluate if marketing research should be undertaken - Answer--consider certain conditions in
which marketing manager will ask you to do research
-have to ask specific questions!
ex: What's the timeline? Is there secondary data? Is there a budget to perform this research?
Respondents' rights - Answer--right to choose
-right to safety
-right to be informed
-right to privacy
Marketing Research Process Steps - Answer-1. Identify the problem
2. Determine research design
3. Design data collection method
4. Sampling and data collection
5. Analyze and interpret data
6. Prepare and report findings
Identify the problem - Answer--step in the marketing research process that involves:
1. Recognizing the MDP
2. Stating symptoms of the problem
3. Analyzing the situation
4. Translating MDP into MRP
5. Stating research objectives
Research design - Answer--step in the marketing research process that involves designing research that
is either:
, 1. Exploratory
2. Descriptive
3. Causal
Exploratory research - Answer--research that asks, "What consumer needs drive purchase?"
-used to clarify the exact nature of the problem to be solved
-advantages: research that can always be undertaken, helps guide future research
-disadvantages: not conclusive; qualitative; unstructured
ex: case studies, experience surveys, secondary data analysis, pilot studies
basic tool = interview guide or observation form
Descriptive research - Answer--research that asks,"Which flavor is preferred most? By whom?
-advantages: research that is a structured collection; conclusive; all about finding more research about
what we already know; answers who, what, when, etc.
-disadvantages: requires some knowledge of problem, does not show cause and effect
ex: surveys, panels
basic tool = questionnaire
Causal research - Answer--research that asks, "Which store layout should we adopt?"
-designed to determine whether a change in IV likely caused observed change in DV
-advantages: shows cause and effect, controlled environment,
-disadvantages: research that can only be undertaken if the problem is very clear; results are difficult to
generalize, expensive, time-consuming
ex: lab experiments, field experiments
basic tool = experiment
Marketing Research - Answer--process of designing studies and gathering, analyzing, and reporting info
that reduces uncertainty and leads to better managerial decision-making
-used to determine customer needs, evaluate benefit of product changes/line extensions, measure
satisfaction, and assess demands
Purpose of marketing research - Answer--aims to get marketing mix right
-help avoid failures by identifying opportunities and problems, monitoring performance, and linking
marketing input with outputs of interest, such as awareness
Descriptive role - Answer--role of marketing research that gathers statements of fact (demographics,
customer satisfaction)
Diagnostic/Explanatory role - Answer--role of marketing research that explains effects of current
marketing mix and identifies possible new courses of action (explain trends of satisfaction)
Predictive role - Answer--role of marketing research that predicts results of planned marketing decision
Independent variables - Answer--controllable variable
-includes marketing mix: pricing, promotion, product, and place
Dependent variables - Answer--behavior response variable
-includes awareness, knowledge, liking, preference, intent to buy, purchase
-managers will not know this
,How to evaluate if marketing research should be undertaken - Answer--consider certain conditions in
which marketing manager will ask you to do research
-have to ask specific questions!
ex: What's the timeline? Is there secondary data? Is there a budget to perform this research?
Respondents' rights - Answer--right to choose
-right to safety
-right to be informed
-right to privacy
Marketing Research Process Steps - Answer-1. Identify the problem
2. Determine research design
3. Design data collection method
4. Sampling and data collection
5. Analyze and interpret data
6. Prepare and report findings
Identify the problem - Answer--step in the marketing research process that involves:
1. Recognizing the MDP
2. Stating symptoms of the problem
3. Analyzing the situation
4. Translating MDP into MRP
5. Stating research objectives
Research design - Answer--step in the marketing research process that involves designing research that
is either:
, 1. Exploratory
2. Descriptive
3. Causal
Exploratory research - Answer--research that asks, "What consumer needs drive purchase?"
-used to clarify the exact nature of the problem to be solved
-advantages: research that can always be undertaken, helps guide future research
-disadvantages: not conclusive; qualitative; unstructured
ex: case studies, experience surveys, secondary data analysis, pilot studies
basic tool = interview guide or observation form
Descriptive research - Answer--research that asks,"Which flavor is preferred most? By whom?
-advantages: research that is a structured collection; conclusive; all about finding more research about
what we already know; answers who, what, when, etc.
-disadvantages: requires some knowledge of problem, does not show cause and effect
ex: surveys, panels
basic tool = questionnaire
Causal research - Answer--research that asks, "Which store layout should we adopt?"
-designed to determine whether a change in IV likely caused observed change in DV
-advantages: shows cause and effect, controlled environment,
-disadvantages: research that can only be undertaken if the problem is very clear; results are difficult to
generalize, expensive, time-consuming
ex: lab experiments, field experiments
basic tool = experiment
