Marketing 300 Study Guide Exam Questions Solved Correctly.
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Course
MKT 300
Institution
MKT 300
marketing research - Answer procedures that develop and analyze the new information about a market
scientific method - Answer a decision making approach that focuses on being objective and orderly in testing ideas before accepting them
experimental method - Answer researchers compare the resp...
Marketing 300 Study Guide Exam
Questions Solved Correctly.
marketing research - Answer procedures that develop and analyze the new information about a market
scientific method - Answer a decision making approach that focuses on being objective and orderly in
testing ideas before accepting them
experimental method - Answer researchers compare the respinses of two (or more) groups that are
similar except on the characteristic being tested
population - Answer total group the researcher is interested in
sample - Answer a part of the relevant population
validity - Answer concerns the extent to which data measure what they are intended to measure
data analysis - Answer process of inspecting, cleansing, transforming, and modeling data with the goal of
discovering useful information, suggesting conclusions, and supporting decision-making
big data - Answer data sets too large and complex to work with typical data-base management tools
confidence interval - Answer the range on either side of an estimate that is likely to contain the true
value for the whole population
margin of error - Answer an amount (usually small) that is allowed for in case of miscalculation or change
of circumstances
hypotheses - Answer educated guesses about the relationship between things or about what will happen
in the future
, marketing research process - Answer a five step application of the scientific method that includes:
1) defining the problem
2) analyzing the situation
3) getting problem-specific data
4) Interpreting the data
5) solving the problem
Situation analysis - Answer an informal study of what information is already available in the problem
area
secondary data - Answer information that has been collected of published already
ex: books, the internet, magazines
primary data - Answer information specifically collected to solve a current problem
ex: surveys, intranet, focus groups
research proposal - Answer a plan that specifies what information will be obtained and how -- to be sure
no misunderstandings occur later
qualitative research - Answer seeks in-depth, open ended responses, not yes or no answers
focus group - Answer one widely used form of qualitative questioning in marketing research, which
involves simultaneously interviewing 6 to 10 people in an informal group setting
quantitative research - Answer seeks structured responses that can be summarized in numbers, such as
percentages, averages, or statistics
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