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MARK3000 Test 2 – Grantham Exam Questions With Correct Answers.

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MARK3000 Test 2 – Grantham Exam Questions With Correct Answers. Marketing research - answerA set of techniques and principles for systematically collecting, recording, analyzing, and interpreting data that can aid decision makers involved in marketing goods, services, or ideas. secondary dat...

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  • September 6, 2024
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  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • UGA
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MARK3000 Test 2 – Grantham Exam
Questions With Correct Answers.


Marketing research - answer✔✔A set of techniques and principles for systematically collecting,
recording, analyzing, and interpreting data that can aid decision makers involved in marketing
goods, services, or ideas.

secondary data - answer✔✔Pieces of information that have already been collected from other
sources and usually are readily available.

primary data - answer✔✔Data collected to address specific research needs.

sample - answer✔✔A group of customers who represent the customers of interest in a research
study.

data - answer✔✔Raw numbers or facts.

information - answer✔✔Organized, analyzed, interpreted data that offer value to marketers.

syndicated data - answer✔✔Data available for a fee from commercial research firms such as
Information Resources Inc. (IRI), National Purchase Diary Panel, and ACNielsen.

scanner data - answer✔✔A type of syndicated external secondary data used in quantitative
research that is obtained from scanner readings of UPC codes at check-out counters.

panel data - answer✔✔Information collected from a group of consumers.

data warehouses - answer✔✔Large computer files that store millions and even billions of pieces
of individual data.

data mining - answer✔✔The use of a variety of statistical analysis tools to uncover previously
unknown patterns in the data stored in databases or relationships among variables.

churn - answer✔✔The number of consumers who stop using a product or service, divided by the
average number of consumers of that product or service.

big data - answer✔✔data sets that are too large and complex to analyze with conventional data
management and data mining software

, ©THEBRIGHTSTARS 2024


qualitative research - answer✔✔Informal research methods, including observation, following
social media sites, in-depth interviews, focus groups, and projective techniques.

quantitative research - answer✔✔Structured responses that can be statically tested to confirm
insights and hypotheses generated via qualitative research or secondary data.

observation - answer✔✔An exploratory research method that entails examining purchase and
consumption behaviors through personal or video camera scrutiny.

virtual community - answer✔✔online networks of people who communicate about spefic topics

sentiment mining - answer✔✔Data gathered by evaluating customer comment posted through
social media sites such as Facebook and Twitter

in-depth interview - answer✔✔An exploratory research technique in which trained researchers
ask questions, listen to and record the answers, and then pose additional questions to clarify or
expand on a particular issue.

focus group interviews - answer✔✔A research technique in which a small group of persons
(usually 8-12) comes together for an intensive discussion about a particular topic, with the
conversation guided by a trained moderator using an unstructured method of inquiry.

survey - answer✔✔A systematic means of collecting information from people that generally uses
a questionnaire.

questionnaire - answer✔✔A form that features a set of questions designed to gather information
from respondents and thereby accomplish the researchers' objectives; questions can be either
unstructured or structured.

unstructured questions - answer✔✔Open-ended questions that allow respondents to answer in
their own words.

structured questions - answer✔✔Closed-ended questions for which a discrete set of response
alternatives, or specific answers, is provided for respondents to evaluate.

experimental research (experiment) - answer✔✔A type of conclusive and quantitative research
that systematically manipulates one arm ore variables to determine which variables have a casual
effect on another variable.

biometric data - answer✔✔Digital scanning of the physiological or behavioral characteristics of
individuals as a means of identification.

product - answer✔✔Anything that is of value to a consumer and can be offered through a
voluntary marketing exchange.

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