Ch 9 Marketing Research Lo

Front 1

Identify the five steps in the marketing research process.

Back 1

The first step is to define objectives and research needs, which sounds so simple that managers often gloss over it. But this step is crucial to the success of any research project because, quite basically, the research must answer those questions that are important for making decisions. In the second step, designing the research project, researchers identify the type of data that is needed, whether primary or secondary, on the basis of the objectives of the project from Step 1, and then determine the type of research that enables them to collect those data. The third step involves deciding on the data collection process and collecting the data. The process usually starts with exploratory research methods such as observation, in-depth interviews, or focus groups. The information gleaned from the exploratory research is then used in conclusive research, which may include a survey, an experiment, or the use of scanner and panel data. The fourth step is to analyze and interpret the data a

Front 2

Summarize the differences between secondary data and primary data.

Back 2

Compared with primary research, secondary research is quicker, easier, and, except for syndicated data, less expensive. The ability to use secondary data also requires less methodological expertise. However, since secondary research is collected for reasons other than those pertaining to the specific problem at hand, the information may be dated, biased, or simply not specific enough to answer the research questions. Primary research, in contrast, can be designed to answer very specific questions, but it also can be expensive and time-consuming.

Front 3

Describe the various external and internal secondary data sources.

Back 3

External secondary data are pieces of information that have been collected from other sources, such as the U.S. Census, the Internet, books, articles, trade associations, or syndicated data services. Internal secondary data are derived from internal company records such as sales, customer lists, and other company reports.

Front 4

Describe the various primary data collection techniques.

Back 4

Primary data are collected to address specific research needs. Techniques used for exploratory research include observation, social media, in-depth interviews, and focus groups. Techniques used for conclusive research include surveys (both offline and online), scanner, panel, and experiments.

Front 5

Examine the circumstances under which collecting information on consumers is ethical.

Back 5

Marketing researchers should only collect information on consumers for the sole purpose of conducting marketing research endeavors. Information should not be collected under the guise of marketing research when the intent is to sell products or fund-raise.