MARK 3000 TEST 2 QUESTIONS WITH CORRECT ANSWERS

MARK 3000 TEST 2 QUESTIONS WITH CORRECT
ANSWERS

marketing |research |- |CORRECT |ANSWER✔✔-set |of |techniques |and |principles |for |systematically
|collecting, |recording, |analyzing, |and |interpreting |data |that |can |aid |decision |makers |who |are |


involved |in |marketing |goods, |services, |or |ideas



true |- |CORRECT |ANSWER✔✔-t/f |

collecting |data |from |customers |helps |firms |better |deliver |products |and |services



data |- |CORRECT |ANSWER✔✔-raw |numbers |or |information |that, |on |its |own, |has |limited |
meaning |to |marketers



5 |steps |in |the |marketing |process |- |CORRECT |ANSWER✔✔-1) |defining |objectives |and |research |
needs |

2) |designing |the |research

3) |collecting |the |data

4) |analyzing |the |data |and |developing |insights

5) |developing |and |implementing |the |action |plan



Defining |the |objectives |and |research |needs |- |CORRECT |ANSWER✔✔-step |1 |of |marketing |
research |process |

-what |info |is |needed |to |answer |research |questions? |

- |how |should |that |info |be |obtained?

,designing |research |- |CORRECT |ANSWER✔✔-Step |2; |Types |of |data |needed |and |type |of |research
|to |be |conducted.




collecting |the |data |- |CORRECT |ANSWER✔✔-after |answering |why |and |how, |researchers |
determine |where |they |can |find |data

- |secondary |data

- |primary |data



secondary |data |- |CORRECT |ANSWER✔✔--collected |prior |to |start |of |research |project |

-external |as |well |as |internal |data |sources



primary |data |- |CORRECT |ANSWER✔✔--collected |to |address |specific |research |needs |

-focus |groups, |in-depth |interviews, |surveys

-ex. |choose |a |group |of |customers |who |represent |the |customers |of |interest |and |generalize |
their |opinions |to |the |market |segment



syndicated |secondary |data: |scanner |data |- |CORRECT |ANSWER✔✔-data |from |scanner |readings |
of |UPC |lables |at |checkout



helps |firms |asses |what |is |happening |in |market |place



syndicated |secondary |data: |panel |data |- |CORRECT |ANSWER✔✔-info |collected |from |a |group |of |
consumers, |organized |into |panels, |over |time

(records |of |what |they |purchased, |responses |to |survey |questions)



qualitative |research |- |CORRECT |ANSWER✔✔-- |broad, |open-ended |questions |to |understand |
interest. |

, - |more |informal, |includes |observation, |social |media |sites, |in-depth |interviews, |and |focus |
groups



Quantitative |Research |- |CORRECT |ANSWER✔✔-structured |responses |that |can |be |statistically |
tested |to |confirm |insights |and |hypotheses |generated |via |qualitative |research |or |secondary |
data



experimental |research- |quantitative |- |CORRECT |ANSWER✔✔-- |(an |experiment) |is |a |type |of |
quantitative |research |that |systematically |manipulates |one |or |more |variables |to |determine |
which |variables |have |a |causal |effect |on |other |variables.



Step |4: |Analyzing |Data |and |Developing |Insights |- |CORRECT |ANSWER✔✔-Converting |data |into |
information |to |explain, |predict |and/or |evaluate |a |particular |situation.



Step |5: |Developing |and |Implementing |an |Action |Plan |- |CORRECT |ANSWER✔✔-1. |tell |the |
audience |what |you're |going |to |tell |them

2. |tell |them

3. |tell |them |what |you |told |them



big |data |- |CORRECT |ANSWER✔✔-data |sets |that |are |too |large |and |complex |to |analyze |with |
conventional |data |management |and |data |mining |software



data |mining |- |CORRECT |ANSWER✔✔-- |the |process |of |analyzing |data |to |extract |information |not
|offered |by |the |raw |data |alone



- |statistical |tools |used |to |analyze |big |data |to |uncover |previously |unknown |patterns |or |
relationships |in |variables |stored |in |data |warehouse



five |v's |of |big |data |- |CORRECT |ANSWER✔✔-- |volume

- |variety