MARK 3000 UGA McManus - Test 2 Exam Questions With Correct Answers.
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Module
UGA
Institution
UGA
MARK 3000 UGA McManus - Test 2 Exam
Questions With Correct Answers.
Marketing Research - answera set of techniques and principles for systematically collecting,
recording, analyzing and interpreting data that can aid decision makers involved in marketing
goods, services or ideas
Research Proce...
MARK 3000 UGA McManus - Test 2 Exam
Questions With Correct Answers.
Marketing Research - answer✔✔a set of techniques and principles for systematically collecting,
recording, analyzing and interpreting data that can aid decision makers involved in marketing
goods, services or ideas
Research Process - answer✔✔Defining objectives & research needs, Designing the research,
Data collection process, Analyzing data & developing insights, and Action plan &
implementation
Secondary Data - answer✔✔pieces of information that have already been collected from other
sources and usually are readily available
External Secondary Data - answer✔✔government sources, census, syndicated data
Internal Secondary Data - answer✔✔data warehouses & data mining
Primary Data - answer✔✔data collected to address specific research needs
Sample - answer✔✔a group of customers who represent the customers of interest in a research
study
Data - answer✔✔Raw numbers or facts
Information - answer✔✔organized, analyzed, interpreted data that offer value to marketers
Syndicated data - answer✔✔data available for a fee from commercial research firms such as
Information Resources Inc. (IRI), National Purchase Diary Panel and ACNielsen
Scanner Data - 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 - answer✔✔information collected from a group of consumers
Data Warehouse - answer✔✔large computer files that store millions and even billions of
individual data
Data Mining - 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
Virtual Community - answer✔✔an online network of people who communicate about specific
topics
Qualitative Research Methods - answer✔✔observation, in-depth interviews, focus groups, &
social media research
Churn - answer✔✔the number of consumers who stop using a product or service, divided by the
average number of consumers of that product or service
Qualitative Research - answer✔✔internal research methods, including observation, following
social media sights, in-depth interviews, focus groups and projective techniques
Quantitative Research - answer✔✔structured responses that can be statistically tested to confirm
insights and hypotheses generated via qualitative research or secondary data
Observation - answer✔✔an exploratory research method that entails examining purchase and
consumption behaviors through personal or video camera scrutiny (manual, mechanical,
ethnographic)
Sentiment Mining - answer✔✔data gathered by evaluating customer comments posted through
social media sites like Facebook and Twitter (finding location of sentiment)
In-Depth Interview - 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 a particular issue (unstructured, time consuming, costly)
Focus Group Interview - answer✔✔a research technique in which a small group of persons
(usually 8 to 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
Social Media Research - answer✔✔involves monitoring blogs, online communities, & sentiment
mining
Survey - answer✔✔a systematic means of collecting information from people that generally uses
a questionnaire
Questionnare - answer✔✔a form that features a set of questions designed to gather information
from respondents and thereby accomplish the researcher's objectives; can be structured or
unstructured
Unstructured Questions - answer✔✔open-ended questions that allow respondents to answer in
their own words (qualitative)
Structured Questions - answer✔✔closed-ended questions for which a discrete set of response
alternatives, or specific answers, is provided for respondents to evaluate (quantitative)
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