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MGT 103 Quiz 2 Questions 1 And Answers
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MGT 103 Quiz 2 Questions 1 And Answers Marketing research Process 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 • Colle...

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  • October 23, 2024
  • 8
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • mgt 103 quiz 2 questions 1 and answers

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  • MGT 103
  • MGT 103

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MGT 103 Quiz 2 Questions 1 And Answers

Marketing research Process 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 • Collected specifically for current purpose


• Could be internally or externally collected

• Examples: Experiments, Test Markets, Focus Groups, Surveys, Observations




Secondary Data • Collected for some other purpose


• External (census, Gallup poll, etc.)

• Internal (company records, sales data)




Advantages of secondary data: Time savings, Low costs

, MGT 103 Quiz 2 Questions 1 And Answers

Disadvantages of secondary data: - May be out of date


- Definitions or categories might not be what you're looking for

- Might not be specific enough for your project




General rule of thumb Collect secondary data first, then turn to primary data




Qualitative Methods: +require only a limited number of participants or observations


- verbal or observational data is often hard to interpret and summarize




Quantitative Methods: +measurable¾and thus easier to interpret and summarize


-need to be able to select specific measures, requires a larger number of participants to be able to

generalize beyond the sample




Focus Groups Group of respondents discuss a marketing problem by responding and

reacting to each other

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