CHAPTER 7 DISCUSSION QUESTIONS1) Procedures that develop & analyze new information about a market is known aswhat?2) An organized way of continually gathering, accessing, & analyzing informationthat marketing managers need to make ongoing decisions is known as what?3) What is a marketing dashboard?4) What are the 5 steps in the 5-step approach to marketing research?5) What is often the most difficult step in the marketing research process?6) What is the difference between secondary & primary data?7) What is the difference between qualitative & quantitative research?8) The percentage of people contacted who complete the questionnaire is knownas what?9) What is the difference between a population & a sample?10) In what step do managers use the research results to make marketingdecisions?
PROCEDURES THAT DEVELOP & ANALYZE NEW INFORMATION ABOUT A MARKET IS KNOWN AS WHAT? MARKETING RESEARCH
AN ORGANIZED WAY OF CONTINUALLY GATHERING, ACCESSING, &ANALYZING INFORMATION THAT MARKETING MANAGERS NEED TO MAKE ONGOING DECISIONS IS KNOWN AS WHAT? MARKETING INFORMATION SYSTEM (MIS)
MARKETING DASHBOARDDISPLAYS UP-TO-THE-MINUTE MARKETING DATA IN AN EASY-TO-READ FORMAT
STEPS IN MARKETING RESEARCH1) DEFINING THE PROBLEM2) ANALYZING THE SITUATION3) GETTING PROBLEM-SPECIFIC DATA4) INTERPRETING THE DATA5) SOLVING THE PROBLEM
QUALITATIVE RESEARCHSEEKS IN-DEPTH, OPEN-ENDED RESPONSES, NOT YES/NO ANSWERS.-”WHAT DO YOU THINK ABOUT WHEN YOU DECIDE WHERE TO SHOPFOR FOOD?”-ADVANTAGE OF THIS APPRAOCH IS DEPTH.
QUANTITATIVE RESEARCHSEEKS STRUCTURED RESPONSES THAT CAN BE SUMMARIZED IN NUMBERS(PERCENTAGES, AVERAGES, OTHE R STATISTICS)-SURVEY QUESTIONNAIRES AREPOPULAR METHOD FORCOLLECTING QUANTITATIVERESEARCH.-RESPONSE RATE: -THE PERCENTAGE OF PEOPLE COMNTACTED WHO COMPLETE THE QUESTIONNAIRE.
POPULATIONTHE TOTAL GROUP THAT MARKETING MANAGERS ARE INTERESTED IN COLLECTING INFORMATION ABOUT SAMPLEA PART OF THE RELEVANT POPULATION THAT MARKETING MANAGERS ARE INTERESTED IN COLLECTING INFORMATION ABOUT