MKGT 379 MIDTERM EXAM QUESTIONS ANSWERED CORRECTLY LATEST UPDATE 2026

MKGT 379 MIDTERM EXAM QUESTIONS ANSWERED CORRECTLY LATEST UPDATE 2026 Market research - Answers process of gathering and interpreting data for use in developing, implementing and monitoring firm's plans Who does marketing research - Answers companies, advertising agencies, marketing research companies market research process - Answers - problem definition - data collection - data analysis - information reporting ethics - Answers moral principles/values marketing ethics - Answers principles/values followed by marketers utility approach - Answers focuses on society and consequences that actions may have. net result= positive/ethical net result= negative/unethical justice approach - Answers focuses on the degree to which benefits/costs are distributed across individuals/groups fairly distributed= ethical rights approach - Answers focuses on the welfare of the individual and uses means, intentions, and features of an act itself in judging its ethicality - rights are violated= unethical Advocacy research - Answers (avoid) supports a position rather than to find the truth about an issue sugging - Answers (avoid) attempting to sell products/services/ideas under the guise of marketing research Problem Formulation Process - Answers 1. meet with client 2. clarify problem/opportunity 3. state manger's decision problem 4. develop possible research problem 5. select research problem(s) to be addressed 6. prepare the research request agreement decision problem - Answers problem facing the decision maker for which the research is intended to provide answers discovery oriented decision problem - Answers decision problem that typically seeks to answer "how" questions about a problem/opportunity. focus is generally on selecting alternative courses of action research problem - Answers restatement of the decision problem in research terms research request agreement - Answers document prepared by the research after meeting with decision maker that summarizes the problem and info that is needed to address it Research proposal - Answers Written statement that describes the marketing problem, the purpose of the study, and a detailed outline of the research methodology research proposal steps - Answers - Problem Definition and background - Research Design and Data Sources - Sampling Plan - Data Collection Forms Analysis - Time Schedule - Personnel Requirements and Cost Estimate - Appendices request for proposal (RFP) - Answers simple document that describes, as specifically as possible, the nature of the problem for which research is sought and that asks providers to offer proposals, including cost estimates, about how they would perform the job exploratory research - Answers gain insights and ideas so that problems and opportunities can be more clearly defined (should be small in size) (very flexible) hypothesis - Answers statement that specifies how two or more measurable variables are related literature search - Answers search of statistics, trade journal articles, other articles, magazines, newspapers, books, and/or online sources for data or insight into the problem at hand depth interviews - Answers interviews with people knowledgeable about the general subject being investigated focus group - Answers interview conducted amazon a small number of individuals simultaneously moderator - Answers individual that meets with focus group participants and guides the session moderator's guidebook - Answers an ordered list of the general (and specific) issues to be addressed during a focus group nominal groups - Answers group interview techniques that initially limits respondent interaction while attempting to maximize input from individual group members data mining - Answers process of uncovering patterns and other valuable information from large data sets case analysis - Answers intensive study of selected examples of the phenomenon of interest Ethnography - Answers detailed observation of consumers during their ordinary daily lives using direct observations, interviews, and video and audio recordings projective methods - Answers Methods that encourage respondents to reveal their own feelings, thoughts, and behaviors by shifting the focus away from the individual using indirect tasks work association - Answers projective method in which participants are asked to respond to a list words with the first word that comes to mind sentence completion - Answers projective method in which respondents are directed to complete several sentences with the first worlds that come to mind storytelling - Answers projective method of data collection relying on a picture stimulus such as a cartoon, photograph, or drawing, about which the subject is asked to tell a story role playing - Answers projective method in which a researcher will introduce a scenario or context and ask respondent to play the role of a person in the scenario secondary data - Answers data that have already been collected primary data - Answers new to the world data collected for the purpose at hand primary source - Answers originating source of secondary data secondary source - Answers source of secondary data that did not originate the data but rather secured them from another source marketing information system (MIS) - Answers set of procedures and methods for the regular, planned collection, analysis, and presentation of information for use in making marketing decision decision support system (DSS) - Answers system that combines data, models for guiding decisions, and a user interface that allows users to interact with the system to produce customized information marketing dashboard - Answers visual display of relevant marketing information designed to provide interactive access to a company's key marketing metrics customer relationship management (CRM) - Answers system that gathers all relevant information about a company's customers and makes it available to the employees that interact with the customers data system - Answers part of a decision support system that includes the processes used to capture and the methods used to store data coming from a number of external and internal sources. It is the creation of a database model system - Answers part of a decision support system that includes all the routines that allow the user to manipulate the data so as to conduct the kind of analysis the individual desires. It is the collection of analytical tools to interpret the database dialog system - Answers The part of a decision support system that permits users to explore the databases by employing the system models to produce reports that satisfy their particular information needs (language system) knowledge management (KM) - Answers the systematic collection of employees knowledge about customers, products and processes, and the marketplace The Four Vs - Answers volume, velocity, variety, veracity volume - Answers amount of data being collected velocity - Answers pace of data flow variety - Answers combination of structured and unstructured data veracity - Answers accuracy and trustworthiness of data big data - Answers process of capturing, merging, and analyzing large and varied data sets for the purpose of understanding current business practices and seeking new opportunities to enhance future performance structured data - Answers data can be written into rows on a spreadsheet or database based on standard column headings unstructured data - Answers data that take the form of social media comments, blog posts, other text based communication, photos, video, audio, metaverse mentions, or any other form that is not easily arranged in structured format social data - Answers unstructured data available from social media and social networking web-based platforms mobile data - Answers both structured and unstructured data available from mobile telephones, including smartphones and other mobile devices like table computers omnichannel transactional data - Answers collective term for all the different purchasing options a consumer has available, including store-based retailers, e-commerce sites, mobile purchasing, in-store pickup, home delivery, and so on descriptive analysis - Answers designed to enhance understanding of available data to benefit firm performance predictive analysis - Answers designed to aid both explanatory and forecasting abilities for the betterment of the firm prescriptive analysis - Answers designed to optimize the various courses of action available to enhance firm performance external secondary data from searching published sources - Answers 1. identify what you want to know/what you already know 2. list key terms/authors that will provide secondary sources 3. ready to begin search 4. compile literature you have found 5. reference librarian 6. consult an authority standardized marketing information - Answers secondary data collected by companies that sell the data to multiple companies, allowing the costs of collecting, editing, coding and analyzing them to be shared geodemography - Answers availability of demographic, consumer behavior, and lifestyle data by arbitrary geographic boundaries that are typically quite small diary panels - Answers Are an important source of information about products purchased by households scanners - Answers Another way to assess product sales and market share is to work with retailers, rather than a consumer panel, to get the data