MGT 103 MASTER STUDY SHEET 2026
VERIFIED QUESTIONS WITH ANSWERS
◉Basic research. Answer: Research to understand consumer
behavior or marketing in general
Academic research
- Information disclosures on consumer decision making
- Advertising repetition on consumer memory
- Pricing changes on sales
◉Applied research. Answer: Research directed at a specific problem
at a specific organization
• Corporate research
- Designing ad campaigns
- Designing products
- Segmenting consumers
◉Marketing research Process. Answer: 1. Define research problem
2. Determine research design
3. Choose the Method to collect primary data
4. Design sample
, 5. Collect the Data
6. Analyze and interpret the data
7. Prepare the research report
◉Primary Data. Answer: • Collected specifically for current purpose
• Could be internally or externally collected
• Examples: Experiments, Test Markets, Focus Groups, Surveys,
Observations
◉Secondary Data. Answer: • Collected for some other purpose
• External (census, Gallup poll, etc.)
• Internal (company records, sales data)
◉Advantages of secondary data:. Answer: Time savings, Low costs
◉Disadvantages of secondary data:. Answer: - May be out of date
- Definitions or categories might not be what you're looking for
- Might not be specific enough for your project
◉General rule of thumb. Answer: Collect secondary data first, then
turn to primary data
VERIFIED QUESTIONS WITH ANSWERS
◉Basic research. Answer: Research to understand consumer
behavior or marketing in general
Academic research
- Information disclosures on consumer decision making
- Advertising repetition on consumer memory
- Pricing changes on sales
◉Applied research. Answer: Research directed at a specific problem
at a specific organization
• Corporate research
- Designing ad campaigns
- Designing products
- Segmenting consumers
◉Marketing research Process. Answer: 1. Define research problem
2. Determine research design
3. Choose the Method to collect primary data
4. Design sample
, 5. Collect the Data
6. Analyze and interpret the data
7. Prepare the research report
◉Primary Data. Answer: • Collected specifically for current purpose
• Could be internally or externally collected
• Examples: Experiments, Test Markets, Focus Groups, Surveys,
Observations
◉Secondary Data. Answer: • Collected for some other purpose
• External (census, Gallup poll, etc.)
• Internal (company records, sales data)
◉Advantages of secondary data:. Answer: Time savings, Low costs
◉Disadvantages of secondary data:. Answer: - May be out of date
- Definitions or categories might not be what you're looking for
- Might not be specific enough for your project
◉General rule of thumb. Answer: Collect secondary data first, then
turn to primary data
