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BMAL 590 - Marketing Research Tools Exam Questions and Answers $8.49   Add to cart

Exam (elaborations)

BMAL 590 - Marketing Research Tools Exam Questions and Answers

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  • Course
  • BMAL-590
  • Institution
  • BMAL-590

BMAL 590 - Marketing Research Tools Exam Questions and Answers

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  • October 28, 2024
  • 2
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • BMAL-590
  • BMAL-590
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millyphilip
BMAL 590 - Marketing Research Tools
Exam Questions and Answers

Step 1 - Answers -Define marketing and marketing research problem

Step 2 - Answers -Try to answer questions with secondary data

Step 3 - Answers -Design primary data collection

Step 4 - Answers -Collect Data

Step 5 - Answers -Analyze Data

Step 6 - Answers -Communicate results (white paper, presentation, recommendations)

Primary - Answers -Collected and analyzed directly from studies

Secondary - Answers -Already exists (e.g. in the library, online); they're quick and cheap
to obtain

Exploratory - Answers -Using focus groups and interviews to formulate marketing
questions

Descriptive - Answers -Surveys and scanner data are used to obtain large-scale stats

Casual - Answers -Experiments are used to study the effects of variables on sales and
consumer attitudes

Cluster analysis for segmentation - Answers -Clustering methods use survey data to
group observations (individuals) that are most similar into a cluster (group)

Perceptual mapping for positioning - Answers -Perceptual maps provide a picture of
competing brands in a space that also contains descriptions of attributes, and they offer
a sense of competitive strengths and weaknesses. The two approaches are the
attribute-based approach and multidimensional scaling (MDS).

Focus groups for concept testing - Answers -Using focus groups is an exploratory and
descriptive technic where eight to ten consumers discuss products and competitors'
products. Usually 3 to 4 focus groups are conducted. Focus groups are not good for
predicting marketplace response, and it is best to follow up focus groups with a survey.

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