Podcast
Questions and Answers
Explanatory studies aim to detect relationships between variables associated with a phenomenon.
Explanatory studies aim to detect relationships between variables associated with a phenomenon.
True (A)
The determination of purchasing power index is unrelated to consumer behavior research.
The determination of purchasing power index is unrelated to consumer behavior research.
False (B)
The main advantage of secondary data is the increase in cost and time compared to primary data.
The main advantage of secondary data is the increase in cost and time compared to primary data.
False (B)
MIS contains only internal primary information.
MIS contains only internal primary information.
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The Ansoff matrix is a tool that identifies growth opportunities through market penetration, product development, and market development.
The Ansoff matrix is a tool that identifies growth opportunities through market penetration, product development, and market development.
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A MIS is designed to distribute information in a timely manner to marketing managers.
A MIS is designed to distribute information in a timely manner to marketing managers.
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Secondary information is always external.
Secondary information is always external.
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In general, external information is less costly than internal information.
In general, external information is less costly than internal information.
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Flashcards
Explanatory Study
Explanatory Study
Research focused on understanding the relationships between different variables associated with a phenomenon.
Marketing Information System (MIS)
Marketing Information System (MIS)
A systematic process used to gather, analyze, and distribute relevant information to marketing managers.
Primary Data
Primary Data
Surveys, interviews, focus groups, and observation are examples of this type of data collection method.
Secondary Data
Secondary Data
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Ansoff Matrix
Ansoff Matrix
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ESOMAR Code
ESOMAR Code
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Sociographic Information
Sociographic Information
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Descriptive Study
Descriptive Study
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Study Notes
Explanatory Studies
- Aim to identify relationships between variables related to a phenomenon.
Management Information Systems (MIS)
- Initially involves collecting and classifying available data.
- Consumer behavior research considers factors like purchasing power.
- Secondary data is often cheaper and faster than primary data.
Secondary Data
- Secondary data is typically quicker and less expensive than primary data, particularly for initial analysis.
Ansoff Matrix
- A tool for identifying growth opportunities in businesses.
- Includes three types: market penetration, product development, and market development.
ESOMAR Code
- A ten-block code of conduct for market research.
- Acts as a set of standards for ethical practices.
MIS - Composition
- Combines people, equipment, and procedures for timely information distribution.
- Marketing managers use this information.
- Research aims to establish positioning strategies.
Demographic Data & Media Data
- Cross-referenced to enable more effective communication strategies.
- Information accuracy depends on collection methods.
Descriptive Studies
- Identify business problems and opportunities.
- Can test hypotheses or suggest courses of action.
Sociographic Information
- Links consumption patterns to consumer attitudes and lifestyles.
MIS Functions
- Administrative or management functions.
- Post-decision control.
Internal vs. External Information
- Internal information is generally preferable to external information.
- External information can be costly.
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Description
This quiz delves into the fundamentals of Management Information Systems (MIS) including the use of secondary data and the Ansoff Matrix. Explore how MIS aids in identifying growth opportunities and understanding consumer behavior. Test your knowledge on ethical standards in market research and the integration of demographic data.
