MKTG 3310 EXAM 2 PADGETT || WITH 100% ERRORLESS SOLUTIONS.
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Course
MKTG 3310
Institution
MKTG 3310
decision support system correct answers a systematic approach to collecting information to help managers make decisions
effective support systems characteristics correct answers 1. information collected must be collected systematically
2. information collected must be relevant to specific manag...
MKTG 3310 EXAM 2 PADGETT || WITH 100%
ERRORLESS SOLUTIONS.
decision support system correct answers a systematic approach to collecting information to help
managers make decisions
effective support systems characteristics correct answers 1. information collected must be
collected systematically
2. information collected must be relevant to specific managerial decisions, so the information
must have purpose and be useful for a specific decision
3. the system should be flexible, capable of being sorted, manipulated, totaled, averaged, and
combined differently so that different managers can answer different questions
market research correct answers a more general term that covers external research investigating
one of three components of the market: customers, competitors, or the company
-customer preferences on a specific brand
marketing research correct answers research focused on assessing the effectiveness of a specific
marketing tool or tactic
-which product feature changes might increase sales the most?
the market research process correct answers 1. define the problem/opportunity
2. develop a research plan
3. collect data
4. analyst the data
5. prepare and present findings
6. outline follow up and create an action plan
step 1: define the problem correct answers -problems/opportunities can be short-term and
specific or long-term and more general
-a common mistake is focusing on symptoms instead of problems in this stage (why are we
declining/why are customers switching)
-it is important to involve all of those related to the problem or opportunity at the very beginning
of a research project to make sure the focus is identified appropriately
**most difficult step**
managers usually focus on short-term problem
3 primary goals in research design correct answers 1. exploratory research
2. descriptive research
3. casual research
exploratory research correct answers aims to discover insights related to a problem or
opportunity
, -goal is understanding
-typically used as a foundation for additional research
descriptive research correct answers seeks to describe something
-typical goals include answering who, what, when, and where something happened
-often leads to additional research but can also lead directly to action
casual research correct answers seeks to determine the effect of one variable on another
-often used to explain how something will change based on marketing activities
qualitative research correct answers -used by marketers to gain a more in-depth understanding of
a marketing problem
-collecting non-numerical data from customers
quantitative research correct answers -used by marketers to count, classify, and measure things
related to a marketing problem
-often used to assess the relative importance of something the marketer is interested in
primary data source correct answers information newly collected specifically for the research
purpose
-key advantage is relevance
secondary data source correct answers data collected for another purpose that can be used to
address a research problem
-typically less costly than collecting primary data, can be incomplete or too old to be useful
observation (qual.) correct answers involves watching what customers do and recording patterns
of interest
ethnography (qual.) correct answers borrowed from anthropology, studies behavior in a natural
context
focus group (qual.) correct answers small group of 3-12 people assembled to provide feedback
about a specific topic
personal interviews (qual.) correct answers guided interactions with individuals
surveys (quan.) correct answers sets of questions administered electronically, via telephone, or in
person, and are the most common data collection method for quantitative research
experiments (quan.) correct answers researcher controls or manipulates one variable while
observing the impact of that variable on another variable
-use field studies
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