Podcast
Questions and Answers
What is an action standard?
What is an action standard?
What is the purpose of a marketing research proposal?
What is the purpose of a marketing research proposal?
Which of the following is NOT a Key Performance Indicator (KPI) for marketing?
Which of the following is NOT a Key Performance Indicator (KPI) for marketing?
What does the term 'ITB' (Invitation to Bid) refer to?
What does the term 'ITB' (Invitation to Bid) refer to?
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What is the relationship between a construct and a variable?
What is the relationship between a construct and a variable?
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When is marketing research not needed?
When is marketing research not needed?
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What is the main goal of marketing research?
What is the main goal of marketing research?
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What type of research attempts to discover causal relationships between variables?
What type of research attempts to discover causal relationships between variables?
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When would it be a good idea to consider conducting a cost-benefit analysis for a market research project?
When would it be a good idea to consider conducting a cost-benefit analysis for a market research project?
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What is the research design used to collect information in an unstructured and informal manner?
What is the research design used to collect information in an unstructured and informal manner?
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What is an example of a circumstance when it may be necessary to act immediately to remain competitive?
What is an example of a circumstance when it may be necessary to act immediately to remain competitive?
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What are the essential components needed for effective marketing research?
What are the essential components needed for effective marketing research?
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Which of the following is NOT a reason why marketing research might not be the best solution?
Which of the following is NOT a reason why marketing research might not be the best solution?
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What is required for a questionnaire to effectively communicate with respondents?
What is required for a questionnaire to effectively communicate with respondents?
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What is the primary characteristic of secondary data in marketing research?
What is the primary characteristic of secondary data in marketing research?
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What does the sample plan in marketing research describe?
What does the sample plan in marketing research describe?
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What is the main purpose of validation in data collection?
What is the main purpose of validation in data collection?
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Which step is considered the most important in the marketing research process?
Which step is considered the most important in the marketing research process?
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What term describes the companies that specialize in data collection for research?
What term describes the companies that specialize in data collection for research?
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What should be included in data analysis after entering data into computer files?
What should be included in data analysis after entering data into computer files?
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What is the final step in the marketing research process?
What is the final step in the marketing research process?
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Why is it important to define the problem in the marketing research process?
Why is it important to define the problem in the marketing research process?
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What step follows the definition of the problem in the marketing research process?
What step follows the definition of the problem in the marketing research process?
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What is an action standard and why is it useful in marketing research?
What is an action standard and why is it useful in marketing research?
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Which step involves choosing the appropriate methods for gathering data?
Which step involves choosing the appropriate methods for gathering data?
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What does the marketing research proposal encompass?
What does the marketing research proposal encompass?
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Which of the following reflects a common pitfall in the marketing research process?
Which of the following reflects a common pitfall in the marketing research process?
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What is the purpose of formulating research objectives?
What is the purpose of formulating research objectives?
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In the context of research objectives, what does 'unit of measurement' refer to?
In the context of research objectives, what does 'unit of measurement' refer to?
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Which of the following is NOT a key element of a well-defined research objective?
Which of the following is NOT a key element of a well-defined research objective?
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Why is it important to word research questions using the respondents' frame of reference?
Why is it important to word research questions using the respondents' frame of reference?
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Which of the following is an example of a well-formulated research objective stated as a question?
Which of the following is an example of a well-formulated research objective stated as a question?
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In the context of research, what is a hypothesis?
In the context of research, what is a hypothesis?
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Why are hypotheses important in research?
Why are hypotheses important in research?
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What is the difference between a research objective and a hypothesis?
What is the difference between a research objective and a hypothesis?
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Study Notes
Marketing Research Process Overview
- Marketing research is a systematic process.
- The process isn't always linear; steps aren't always followed in order.
- All research projects don't need all eleven steps.
Eleven Steps in the Marketing Research Process
- Step 1: Establish the Need: Is there a real need for this research? Is the information already available or does the timing make this study unnecessary?
- Step 2: Define the Problem: The need to make a decision requires alternatives.
- Step 3: Establish Research Objectives: Specify what the researchers must do, to gather the necessary information to resolve the problem.
- Step 4: Determine Research Design: Exploratory (unstructured/informal), Descriptive (describes the phenomena of interest), Causal (attempts to find cause and effect).
- Step 5: Identify Information Types and Sources: Primary (collected specifically for the problem) and secondary (already available).
- Step 6: Determine Methods of Accessing Data: Primary data is complex, secondary is relatively easy to access.
- Step 7: Design Data Collection Forms: Questionnaires (objective and clear); Focus group guides; Observation forms. Software is available to aid in designing collection forms..
- Step 8: Determine Sample Plan and Size: Samples are drawn from a larger population; Sample size is how many elements from a population form part of the sample.
- Step 9: Collect Data: Researchers aim to minimize data errors via validation. Field service firms may be involved in the data collection.
- Step 10: Analyze Data: Data analysis involves putting data in computer files, inspecting for errors, and running statistical tests (tabulations etc.).
- Step 11: Communicate Insights: Effectively summarizing and communicating results in a report/presentation to the client.
Characteristics of a Problem
- A problem requires a decision involving options.
- Without alternatives, no decision, and thus no problem.
Steps in Defining a Problem
- Recognize the Problem: Is a goal not being met, or is an opportunity being identified?
- Understand Background of the Problem: Analyze the situation, clarify symptoms, find possible causes.
- Determine Decision Alternatives: Identify possible solutions, analyze them.
- Formulate a Problem Statement: Concisely describe the situation, in preparation for addressing the problem.
Research Objectives
- Objectives should be specific.
- Describe exactly the information needed to solve the problem or facilitate a decision.
- Objectives state what the researchers need.
Action Standards
- A predetermined requirement the research must accomplish, for an objective, before the predetermined action can occur.
Key Performance Indicators (KPIs)
- Examples of KPIs for various marketing objectives (e.g., brand awareness, engagement, sales, investment returns, quality control).
Marketing Research Proposal
- A proposal, outlining what the research intends to do, and it's basis and purpose. Is a contract in its written form.
- A proposal is a preliminary step required before a client agrees to use a marketing research provider.
- It is important to obtain the client's agreement through an invitation to bid (ITB) or a request for proposal (RFP).
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Description
This quiz covers the essential steps in the marketing research process. It guides you through understanding the systematic approach needed to identify and address research needs effectively. Each step is critical in determining the scope and design of a successful marketing study.
