Marketing 300 UW Madison Exam 2 UPDATED Actual Exam Questions and CORRECT Answers
3 views 0 purchase
Course
300 UW Madison
Institution
300 UW Madison
Marketing 300 UW Madison Exam 2
UPDATED Actual Exam Questions and
CORRECT Answers
marketing research - CORRECT ANSWER- procedures that develop and analyze the
new information about a market
scientific method - CORRECT ANSWER- a decision making approach that focuses on
being objective and o...
Marketing 300 UW Madison Exam 2
UPDATED Actual Exam Questions and
CORRECT Answers
marketing research - CORRECT ANSWER✔✔- procedures that develop and analyze the
new information about a market
scientific method - CORRECT ANSWER✔✔- a decision making approach that focuses on
being objective and orderly in testing ideas before accepting them
experimental method - CORRECT ANSWER✔✔- researchers compare the respinses of two
(or more) groups that are similar except on the characteristic being tested
population - CORRECT ANSWER✔✔- total group the researcher is interested in
sample - CORRECT ANSWER✔✔- a part of the relevant population
validity - CORRECT ANSWER✔✔- concerns the extent to which data measure what they
are intended to measure
data analysis - CORRECT ANSWER✔✔- process of inspecting, cleansing, transforming,
and modeling data with the goal of discovering useful information, suggesting conclusions,
and supporting decision-making
big data - CORRECT ANSWER✔✔- data sets too large and complex to work with typical
data-base management tools
confidence interval - CORRECT ANSWER✔✔- the range on either side of an estimate that
is likely to contain the true value for the whole population
margin of error - CORRECT ANSWER✔✔- an amount (usually small) that is allowed for in
case of miscalculation or change of circumstances
, hypotheses - CORRECT ANSWER✔✔- educated guesses about the relationship between
things or about what will happen in the future
marketing research process - CORRECT ANSWER✔✔- a five step application of the
scientific method that includes:
1) defining the problem
2) analyzing the situation
3) getting problem-specific data
4) Interpreting the data
5) solving the problem
Situation analysis - CORRECT ANSWER✔✔- an informal study of what information is
already available in the problem area
secondary data - CORRECT ANSWER✔✔- information that has been collected of published
already
ex: books, the internet, magazines
primary data - CORRECT ANSWER✔✔- information specifically collected to solve a
current problem
ex: surveys, intranet, focus groups
research proposal - CORRECT ANSWER✔✔- a plan that specifies what information will be
obtained and how -- to be sure no misunderstandings occur later
qualitative research - CORRECT ANSWER✔✔- seeks in-depth, open ended responses, not
yes or no answers
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller MGRADES. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.49. You're not tied to anything after your purchase.
