marketing review chp29-4
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Marketing Terms
Marketing True or False
Marketing Fill in the Blanks
MarketingExplain /
ExamplesMarketing Misc.
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The four P’s of marketing
(aka Marketing Mix).(previous chapter)
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Product, Price, Place, Promotion
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Name the 5 steps of conducting Marketing Research
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Step 1: Defining the Problem
Step 2: Obtaining Data
Step 3: Analyzing Data
Step 4: Recommending solutions
Step 5: Applying the Results
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Name the two types of data used in marketing research.
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Primary and Secondary
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List the three methods of obtaining primary data.
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Survey Method
Observation Method
Experimental Method
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When constructing a questionnaire
they must have both Validity and Reliability define each.
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Validity exists when the questions asked measure what was intended to
be measured
Reliability exists when a research technique produces nearly identical
results in repeated trials
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True or False….
Secondary data is gathered specifically to answer the problem.
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False.
The data was compiled for some other reason and is being used in the study.
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True or False…..
AC Nelson is known for it’s work as a company who specializes in opinion
research (or attitude research)(previous chapter)
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False…..Gallup is known for Opinion Research
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True or False
A focus group is a group of six to ten people who are brought together by researchers to discuss a particular situation or reactions to a product.
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True
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True or False…
An open-ended question allows you to choose an answer from a selection of
possible responses.
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False….
An open ended question lets you write a response any response.
A forced – choice question forces you to choose an answer from the selections.
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True or False….
The research method that is best used as a means of gathering information about customer behavior and preferences is the
experimental method.
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False….The observation method is best for determining customer behavior and
preferences
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The most difficult step in the marketing research process is ________ _______.
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define problem
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_________ _________ is information obtained for the first time and used for
a specific problem or issue under study.
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Primary Data
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__________ method gathers information by the use of interviews and
questionnaires.
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Survey
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________ method uses a controlled approach used to test the results of
changing one or more marketing variables while keeping others
constant.
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Experimental
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When constructing a questionnaire:
Cats Eat Plenty Of Delicious Cod refers to:
C_________
E_________
P_________
O_________
D_________
C_________
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ClearEasily UnderstoodProfessionally PresentedOrganizedDemographic questions at the endConcise
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Explain where we can get secondary data from.
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Internet Sources
U.S. Government
Consumer & Business Information Companies
Business & Trade Publications
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What are the advantages and disadvantages of secondary data?
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1. Advantages• Easily Obtained• Generally inexpensive • Quick to collect
2. Disadvantages• Non-applicable• Inaccurate or outdated
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What are the advantages and disadvantages of the observation
method of collecting primary data?
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1. Advantages• Faster than interviews• Cost effective
2. Disadvantages• Doesn’t measure attitudes or motivation
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What are the advantages and disadvantages of the experimental method of collecting primary data?
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1. Advantages• Excellent source of info in situations where
different approaches or ideas need to be compared
2. Disadvantages• Very costly• People respond differently in contrast to actual
buying situations.
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Kmart hires a mystery shopping service to obtain information about its customers. Is this primary or secondary research?
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Primary
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This observation technique involves the recording of the number of people or
cars passing a given location. What is the technique called?
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Traffic Count
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Psychographics is the study of consumers based on…..
(previous chapter)
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Social and psychological characteristics….
Attitudes-Lifestyles-Leisure Time- Values
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Identify and describe the different ways we can obtain data using the Observation
method.
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1. Mystery Shopper: Someone who poses as a customer
2. Traffic count – number of people or cars that enter
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Identify and describe the 4 different ways we can obtain data using the survey method.
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• In person: » Personal Interviews, Mall Intercept, Focus Groups
• Telephone:» Telephone Interviews
• Mail:» Mail Survey
• Internet:» Online Survey
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Identify the 5 steps of conducting marketing research and explain three of the steps in detail.
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1. Define the problem- the problem or research issue is clearly identified. (hardest step)
2. Obtaining Data- data collected and examined in terms of the problem (primary and secondary data)
3. Analyzing the data – The process of compiling, analyzing and interpreting the results of primary and secondary data.
4. Recommending solutions – conclusions drawn from the research are presented in an organized and well-written report.
5. Applying the results – the company takes action either inconclusive results from the research and additional research is needed or they act and monitor progress.