MKTG 201 FINAL (100% VERIFIED
ANSWERS)
Question :Marketing Research Process
Correct answer:1. Defining objectives and research
needs
- Designing research
- Data collection process
- Analyzing data and developing insights
- Action plan and implementation
Question :Secondary data
Correct answer:pieces of information that have already
been collected from other sources and usually are readily available
Question :Primary data
Correct answer:data collected to address specific
research needs
Question :External secondary data
Correct answer:data collected from sources outside the
firm
Question :Syndicated data
Correct answer:data available for a fee from commercial
research firms such as ACNielsen, type of external secondary data
Question :Scanner data
Correct 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
Question :Panel data
Correct answer:information collected from a group of
consumers
Question :Internal secondary data
Correct answer:data collected from a firm's own data
taken from their day to day operations
Question :Data warehouses
Correct answer:large computer files that store millions
and even billions of pieces of individual data
Question :Data mining
Correct 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
Question :Exploratory research
Correct answer:a data collection technique that attempts
to begin to understand the phenomenon of interest; also provides initial information when the problem lacks any clear definition
Question :Conclusive research
Correct answer:a data collection technique that provides
the information needed to confirm preliminary insights, which managers can use to pursue appropriate courses of action
Question :Observation
Correct answer:an exploratory research method that
entails examining purchase and consumption behaviors through personal or video camera scrutiny
Question :Crowdsourcing
Correct answer:an exploratory research technique that
uses social media to obtain ideas and content from a large group of people
Question :In-depth interview
Correct 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 on a particular issue
Question :Focus group interview
Correct answer:a research technique in which a small
group of persons (usually 8-12) comes together for an intensive discussion about a particular topic, with the conversation guided by a trained moderator using an unstructured method of inquiry
Question :Survey research
Correct answer:a systematic means of collecting
information from people that generally uses a questionnaire
Question :Questionnaire
Correct answer:a form that features a set of questions
designed to gather information from respondents and thereby accomplish the researchers' objectives; questions can be either unstructured or structured
Question :Unstructured questions
Correct answer:open-ended questions that allow
respondents to answer in their own words
