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Marketing 201 Final Exam Study Terms
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Marketing 201 Final Exam Study Terms
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Marketing 201 Final Exam Study TermsMarketing Research Process Correct Answer-1. Defining objectives and
research needs
2. Designing research
3. Data collection process
4. Analyzing data and developing insights
5. Action plan and implementation
Secondary data Correct Answer-pieces of information that have already
been collected from other sources and usually are readily available
Primary data Correct Answer-data collected to address specific research
needs
External secondary data Correct Answer-data collected from sources
outside the firm
Syndicated data Correct Answer-data available for a fee from
commercial research firms such as ACNielsen, type of external
secondary data
Scanner data Correct Answer-a type of syndicated external secondary
data used in quantitative research that is obtained from scanner readings
of UPC codes at check out counters
,Panel data Correct Answer-information collected from a group of
consumers
Internal secondary data Correct Answer-data collected from a firm's own
data taken from their day to day operations
Data warehouses Correct Answer-large computer files that store millions
and even billions of pieces of individual data
Data mining Correct Answer-the use of a variety of statistical analysis
tools to uncover previously unknown patterns in the data stored in
databases or relationships among variables
Exploratory research Correct Answer-a data collection technique that
attempts to begin to understand the phenomenon of interest; also
provides initial information when the problem lacks any clear definition
Conclusive research Correct Answer-a data collection technique that
provides the information needed to confirm preliminary insights, which
managers can use to pursue appropriate courses of action
Observation Correct Answer-an exploratory research method that entails
examining purchase and consumption behaviors through personal or
video camera scrutiny
, Crowdsourcing Correct Answer-an exploratory research technique that
uses social media to obtain ideas and content from a large group of
people
In-depth interview Correct Answer-an exploratory research technique in
which trained researchers ask questions, listen to and record the answers,
and then pose additional questions to clarify or expand on a particular
issue
Focus group interview Correct Answer-a research technique in which a
small group of persons (usually 8-12) comes together for an intensive
discussion about a particular topic, with the conversation guided by a
trained moderator using an unstructured method of inquiry
Survey research Correct Answer-a systematic means of collecting
information from people that generally uses a questionnaire
Questionnaire Correct Answer-a form that features a set of questions
designed to gather information from respondents and thereby
accomplish the researchers' objectives; questions can be either
unstructured or structured
Unstructured questions Correct Answer-open-ended questions that allow
respondents to answer in their own words
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