1. What are the 3 roles of Market Research? Explain each.
    • Descriptive: Gathering & presenting factual statements (ex. what is the industry's historical sales trends?)
    • Diagnostic: Explaining Data (ex. determine the impact on sales of a change in the package design)
    • Predictive: Address "What if?" questions (ex. predict the results of a planned marketing campaign)
  2. What are the steps of a basic Marketing Research Process?
    • Identify & Formulate the problem/opportunity
    • Plan the research design and gather primary data
    • Specify the sampling procedures
    • Collect the data
    • Analyze the data
    • Prepare & present the report
    • Follow up
  3. What is Secondary Data and what are some examples of such?
    • Secondary Data is data previously collected for any purpose other than the one at hand.
    • Annual Reports
    • Reports to stockholders
    • Product testing results
    • House periodicals
    • Data from outside the firm: Gov., trade assoc., business periodicals...
  4. What is Primary Data and some examples of such?
    • Primary Data is info collected for the first time and is used for solving the particular problem under investigation.
    • **Survey Research: In-Home Personal interviews, Mall Intercept interviews, Central-Location Telephone interviews, Self-Administered & One-Time Mail Surveys, Mail Panel Surveys, Executive Interviews & Focus Groups
    • Observation Research
    • Ethnographic Research
  5. What are the main differences between Probability and Non-Probability Samples?
    • A Probability sample is a sample in which every element in the population has a known statistical likelihood of being selected. (Ex. Simple Random Sample, Stratified Sample, Cluster Sample & Systematic Sample)
    • A Nonprobability Sample is any sample in which little or no attempts are made to get a representative cross section of the population. (Ex. Convenience Sample, Judgement Sample, Quota Sample & Snowball Sample)
Card Set
Mktg Exam Ch9