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MGT 103 Quiz 2 with correct Answers
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Exam of 4 pages for the course MGT 103 at MGT 103 (MGT 103 Quiz 2)
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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Disadvantages of secondary data: - Answers -- May be out of date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
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