Exam (elaborations)
MGT 103 Quiz 2 with correct Answers
- Course
- Institution
Exam of 4 pages for the course MGT 103 at MGT 103 (MGT 103 Quiz 2)
[Show more]
Content preview
MGT 103 Quiz 2Marketing Research - Answers -Collecting, analyzing, and interpreting data about
customers, competitors, and the business environment to improve marketing
effectiveness
Basic research - Answers -Research to understand consumer behavior or marketing in
general
Academic research
- Information disclosures on consumer decision making
- Advertising repetition on consumer memory
- Pricing changes on sales
Applied research - Answers -Research directed at a specific problem at a specific
organization
• Corporate research
- Designing ad campaigns
- Designing products
- Segmenting consumers
Marketing research Process - Answers -1. Define research problem
2. Determine research design
3. Choose the Method to collect primary data
4. Design sample
5. Collect the Data
6. Analyze and interpret the data
7. Prepare the research report
Primary Data - Answers -• Collected specifically for current purpose
• Could be internally or externally collected
• Examples: Experiments, Test Markets, Focus Groups, Surveys, Observations
Secondary Data - Answers -• Collected for some other purpose
• External (census, Gallup poll, etc.)
• Internal (company records, sales data)
Advantages of secondary data: - Answers -Time savings, Low costs
Disadvantages of secondary data: - Answers -- May be out of date
- Definitions or categories might not be what you're looking for
- Might not be specific enough for your project
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller millyphilip. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
84866 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now