Marketing 201 - Final Exam Complete
Study Guide with Expert Graded A+
Answers | Latest Edition
1. Marketing Research Process - ANSWER A. Defining objectives and
research needs
B. Designing research
C. Data collection process
D. Analyzing data and developing insights
E. Action plan and implementation
2. Survey research - ANSWER a systematic means of collecting information
from people that generally uses a questionnaire
3. Questionnaire - 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
4. Unstructured questions - ANSWER open-ended questions that allow
respondents to answer in their own words
5. Structured questions - ANSWER closed-ended questions for which a
discrete set of response alternatives, or specific answers, is provided for
respondents to evaluate
6. Web surveying - ANSWER high response rate, respondents may lie less,
inexpensive, results processed and received quickly
,7. Sample - ANSWER a group of customers who represent the customers of
interest in a research study
8. Experimental research - ANSWER a type of conclusive and quantitative
research that systematically manipulates one or more variables to determine
which variables have a causal effect on another variable
9. Advantages to secondary research - ANSWER saves time
can be free or inexpensive
10.Disadvantages to secondary research - ANSWER may not be precisely
relevant
may not be timely, data sources may be biased
11.Advantages to primary research - ANSWER specific to immediate needs of
firm
can limit bias
12.Disadvantages to primary research - ANSWER costly
time consuming
13.Data - ANSWER raw numbers or facts, *data does not always give
answers*
14.Information - ANSWER organized, analyzed, interpreted data that offer
value to marketers
, 15.Product - ANSWER anything that is of value to a consumer and can be
offered through a voluntary marketing exchange
16.Core customer value - ANSWER the basic problem solving benefits that
consumers are seeking
17.Associated services/Augmented product - ANSWER the non-physical
attributes of the product including product warranties, financing, product
support, and after-sale service
18.Consumer products - ANSWER products and services used by people for
personal use
19.Secondary data - ANSWER pieces of information that have already been
collected from other sources and usually are readily available
20.Primary data - ANSWER data collected to address specific research needs
21.External secondary data - ANSWER data collected from sources outside the
firm
22.Syndicated data - ANSWER data available for a fee from commercial
research firms such as ACNielsen, type of external secondary data
23.Scanner data - ANSWER a type of syndicated external secondary data used
in quantitative research that is obtained from scanner readings of UPC codes
at checkout counters
24.Panel data - ANSWER information collected from a group of consumers
Study Guide with Expert Graded A+
Answers | Latest Edition
1. Marketing Research Process - ANSWER A. Defining objectives and
research needs
B. Designing research
C. Data collection process
D. Analyzing data and developing insights
E. Action plan and implementation
2. Survey research - ANSWER a systematic means of collecting information
from people that generally uses a questionnaire
3. Questionnaire - 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
4. Unstructured questions - ANSWER open-ended questions that allow
respondents to answer in their own words
5. Structured questions - ANSWER closed-ended questions for which a
discrete set of response alternatives, or specific answers, is provided for
respondents to evaluate
6. Web surveying - ANSWER high response rate, respondents may lie less,
inexpensive, results processed and received quickly
,7. Sample - ANSWER a group of customers who represent the customers of
interest in a research study
8. Experimental research - ANSWER a type of conclusive and quantitative
research that systematically manipulates one or more variables to determine
which variables have a causal effect on another variable
9. Advantages to secondary research - ANSWER saves time
can be free or inexpensive
10.Disadvantages to secondary research - ANSWER may not be precisely
relevant
may not be timely, data sources may be biased
11.Advantages to primary research - ANSWER specific to immediate needs of
firm
can limit bias
12.Disadvantages to primary research - ANSWER costly
time consuming
13.Data - ANSWER raw numbers or facts, *data does not always give
answers*
14.Information - ANSWER organized, analyzed, interpreted data that offer
value to marketers
, 15.Product - ANSWER anything that is of value to a consumer and can be
offered through a voluntary marketing exchange
16.Core customer value - ANSWER the basic problem solving benefits that
consumers are seeking
17.Associated services/Augmented product - ANSWER the non-physical
attributes of the product including product warranties, financing, product
support, and after-sale service
18.Consumer products - ANSWER products and services used by people for
personal use
19.Secondary data - ANSWER pieces of information that have already been
collected from other sources and usually are readily available
20.Primary data - ANSWER data collected to address specific research needs
21.External secondary data - ANSWER data collected from sources outside the
firm
22.Syndicated data - ANSWER data available for a fee from commercial
research firms such as ACNielsen, type of external secondary data
23.Scanner data - ANSWER a type of syndicated external secondary data used
in quantitative research that is obtained from scanner readings of UPC codes
at checkout counters
24.Panel data - ANSWER information collected from a group of consumers
