Questions and Answers
What are the steps in the Marketing Research Process?
What is the first step in the Marketing Research Process?
Establish need for Marketing Research
What encompasses Problem Definition in the Marketing Research Process?
Establish need for Marketing Research, Define the problem, Establish research objective, Determine research design, Identify information types and sources, Determine methods of accessing data
What is involved in Data Collection and Analysis?
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Which step includes preparing and presenting the final research report?
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When is Marketing Research not needed?
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What rule of thumb exists for problem definition?
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What does SMART stand for in establishing research objectives?
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Match the research designs with their purposes:
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What type of research includes qualitative methods like focus groups and depth interviews?
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Causal research can answer why questions.
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Study Notes
Marketing Research Process Overview
- Consists of 11 steps crucial for effective marketing research.
- Steps include: establishing need for research, problem definition, objective setting, and data analysis.
Need for Marketing Research
- Establish whether research is valued against costs.
- Types of research: periodic (routine studies) and situational (as needed).
Periodic vs Situational Research
- Periodic: includes customer satisfaction and brand tracking studies.
- Situational: concept tests for new products and consumer use tests.
Company Research Policies
- Vary based on departmental preferences and organizational missions.
- Research aligns with marketplace activity to inform strategies.
When Marketing Research Is Not Needed
- Available information already meets the need.
- Immediate timing requirements, strict budget constraints, or excessive costs relative to potential value.
Misleading Information
- Research may not reflect market realities for radical innovations; products may be too novel for customer familiarity.
Problem Definition Importance
- Crucial for guiding the entire research process.
- Should balance specificity (narrow focus) with generality (broad context).
Problem Definition Process
- Refine broad problems into specific definitions.
- Should avoid complex statements, ideally concise (one sentence).
Understanding Problem Origins
- Problems stem from:
- Past failures to meet objectives.
- Future attempts to exploit opportunities.
Research Objectives Establishment
- Essential for identifying what information is required to address a problem.
- Aim to close the information gap (discrepancies in knowledge).
SMART Research Objectives
- Must be Specific, Measurable, Attainable, Realistic, and Timely.
Research Design Types
- Three core designs: exploratory, descriptive, and causal.
Exploratory Research
- Aims to gain insights, discover ideas, and develop hypotheses.
- Typically qualitative, involving literature reviews, interviews, focus groups, and case studies.
Descriptive Research
- Describes populations and examines relationships between variables.
- Utilizes quantitative methods like cross-sectional and longitudinal designs.
Causal Research
- Investigates cause-effect relationships but specifics are incomplete in provided context.
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Description
This quiz explores the essential steps and considerations in the marketing research process. You'll learn about the need for research, the types of research methods, and when it may not be necessary. By examining these concepts, you will gain insights into effective marketing strategies.
