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BMAL 590 - Marketing Research Tools Exam Questions and Answers
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BMAL 590 - Marketing Research Tools Exam Questions and Answers
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BMAL 590 - Marketing Research ToolsExam Questions and Answers
Step 1 - Answers -Define marketing and marketing research problem
Step 2 - Answers -Try to answer questions with secondary data
Step 3 - Answers -Design primary data collection
Step 4 - Answers -Collect Data
Step 5 - Answers -Analyze Data
Step 6 - Answers -Communicate results (white paper, presentation, recommendations)
Primary - Answers -Collected and analyzed directly from studies
Secondary - Answers -Already exists (e.g. in the library, online); they're quick and cheap
to obtain
Exploratory - Answers -Using focus groups and interviews to formulate marketing
questions
Descriptive - Answers -Surveys and scanner data are used to obtain large-scale stats
Casual - Answers -Experiments are used to study the effects of variables on sales and
consumer attitudes
Cluster analysis for segmentation - Answers -Clustering methods use survey data to
group observations (individuals) that are most similar into a cluster (group)
Perceptual mapping for positioning - Answers -Perceptual maps provide a picture of
competing brands in a space that also contains descriptions of attributes, and they offer
a sense of competitive strengths and weaknesses. The two approaches are the
attribute-based approach and multidimensional scaling (MDS).
Focus groups for concept testing - Answers -Using focus groups is an exploratory and
descriptive technic where eight to ten consumers discuss products and competitors'
products. Usually 3 to 4 focus groups are conducted. Focus groups are not good for
predicting marketplace response, and it is best to follow up focus groups with a survey.
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