MKT 3050 REAL 2025 Final
Exam Questions with
Answers Correct!!
Research Approach – ANSWERS
Observation, survey, experiment
Contact Methods – ANSWERS
Mail, telephone, personal, online
Sampling Plan – ANSWERS
Sampling unit, sample size, sampling procedure
Research Instruments – ANSWERS
Questionnaire, mechanical instrument
Primary Data Collection Research Approach: Observation – ANSWERS
Techniques in which the researcher relies on his/her powers rather than communicating
with a person in order to obtain information.
What are the advantages of observation? – ANSWERS
Provides information people are unable/unwilling to provide and usually costs less.
What are the disadvantages of observation? – ANSWERS
It can be difficult to interpret, infrequent and long-term behavior is difficult to observe.
Primary Data Collection Research Approach: Surveys – ANSWERS
Gathering descriptive information (yes/no questions) - knowledge, attitudes, buying
behavior, preferences, etc.
What are the advantages of surveys? – ANSWERS
They are used to obtain many different kinds of information for different situations and it
is easy to administer.
What are the disadvantages of surveys? – ANSWERS
Individuals might not remember information and/or provide wrong answers, might be
ignored, and some might be unwilling to participate.
Primary Data Collection Research Approach: Experimental Research – ANSWERS
Tries to explain cause-and-effect relationships; it involves selecting matched groups of
subjects, giving different treatments, controlling unrelated factors, and checking
differences in group responses.
, 3. Implementing the research plan - ANSWERS1. Collecting the data
2. Processing the data
3. Analyzing the data
4. Interpreting and reporting findings – ANSWERS
Interpret the findings, draw conclusions, and report to management.
Consumer Buyer Behavior – ANSWERS
How a consumer makes purchase decisions and what factors influence such decisions.
Consumer Buyer Decision Process – ANSWERS
Need recognition
Information search
Evaluation of alternatives
Purchase decision
Post-purchase behavior
Need Recognition – ANSWERS
Can be triggered by internal of external stimuli.
Information Search – ANSWERS
Personal, commercial, public, and experiential sources
3. Evaluation of Alternatives – ANSWERS
Dependent upon the specific buying situation and the individual customers.
Product – ANSWERS
Anything that can be offered to a market to satisfy a want or a need.
Convenience Goods – ANSWERS
Purchased frequently and immediately with little comparison shopping effort (ex. candy,
soda, etc.)
Shopping Products – ANSWERS
Bought less frequently; more planning and effort, brand comparisons on basis of price,
quality, and style (ex. furniture).
Specialty Products – ANSWERS
Strong brand preference and loyalty; special purchasing effort, little comparison
shopping, high price (ex. luxury items).
Unsought Products – ANSWERS
Little product awareness or knowledge of the brand (ex. life insurance, cemetery plots,
blood donation).
Exam Questions with
Answers Correct!!
Research Approach – ANSWERS
Observation, survey, experiment
Contact Methods – ANSWERS
Mail, telephone, personal, online
Sampling Plan – ANSWERS
Sampling unit, sample size, sampling procedure
Research Instruments – ANSWERS
Questionnaire, mechanical instrument
Primary Data Collection Research Approach: Observation – ANSWERS
Techniques in which the researcher relies on his/her powers rather than communicating
with a person in order to obtain information.
What are the advantages of observation? – ANSWERS
Provides information people are unable/unwilling to provide and usually costs less.
What are the disadvantages of observation? – ANSWERS
It can be difficult to interpret, infrequent and long-term behavior is difficult to observe.
Primary Data Collection Research Approach: Surveys – ANSWERS
Gathering descriptive information (yes/no questions) - knowledge, attitudes, buying
behavior, preferences, etc.
What are the advantages of surveys? – ANSWERS
They are used to obtain many different kinds of information for different situations and it
is easy to administer.
What are the disadvantages of surveys? – ANSWERS
Individuals might not remember information and/or provide wrong answers, might be
ignored, and some might be unwilling to participate.
Primary Data Collection Research Approach: Experimental Research – ANSWERS
Tries to explain cause-and-effect relationships; it involves selecting matched groups of
subjects, giving different treatments, controlling unrelated factors, and checking
differences in group responses.
, 3. Implementing the research plan - ANSWERS1. Collecting the data
2. Processing the data
3. Analyzing the data
4. Interpreting and reporting findings – ANSWERS
Interpret the findings, draw conclusions, and report to management.
Consumer Buyer Behavior – ANSWERS
How a consumer makes purchase decisions and what factors influence such decisions.
Consumer Buyer Decision Process – ANSWERS
Need recognition
Information search
Evaluation of alternatives
Purchase decision
Post-purchase behavior
Need Recognition – ANSWERS
Can be triggered by internal of external stimuli.
Information Search – ANSWERS
Personal, commercial, public, and experiential sources
3. Evaluation of Alternatives – ANSWERS
Dependent upon the specific buying situation and the individual customers.
Product – ANSWERS
Anything that can be offered to a market to satisfy a want or a need.
Convenience Goods – ANSWERS
Purchased frequently and immediately with little comparison shopping effort (ex. candy,
soda, etc.)
Shopping Products – ANSWERS
Bought less frequently; more planning and effort, brand comparisons on basis of price,
quality, and style (ex. furniture).
Specialty Products – ANSWERS
Strong brand preference and loyalty; special purchasing effort, little comparison
shopping, high price (ex. luxury items).
Unsought Products – ANSWERS
Little product awareness or knowledge of the brand (ex. life insurance, cemetery plots,
blood donation).
