Exam (elaborations)
MNM3702 Marketing Research Past Exams 2015-17
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From past exams with my suggested answers. Its important to not answer in bullet points. These have not been checked over by a lecturer.
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3702 Marketing Research PAST EXAMS2015- 2017 Suggested answers By: Dubst3phs
Note that these have not been checked by a lecturer, they are my suggested answers based on my findings in the
text book, study guide and lecturer notes.
October/ November 2015
,October/ November 2015
, October/ November 2015
Value of Marketing information:
oRelevant (meaningful) - be able to use the information to make decisions about target markets.
oUseful - made available in a form that the user can understand and apply.
oTimeous - information must be available on a continual basis.
oAccurate (valid) - information must reflect the realities of the situation.
oAdequate - Sufficient qualitative and quantitative information must be available.
oAvailable - information should be in a form that is easy to access when required.
vExploratory research design
oIntended to explore a relatively unknown area.
oIs necessary when more information and insight is required about a problem, opportunity or phenomenon, and especially to collect data that can contribute to more meaningful
research questions.
oThe objectives of an exploratory study are:
§To acquire new insight into the phenomenon
§To be a preliminary survey before a more structured study.
§To explain central concepts and constructs
§To determine priorities for further research.
§To develop new hypotheses about an existing phenomenon.
oBecause the objective of an exploratory study is to acquire insight and develop understanding, rather than to collect accurate replicable data, it usually involves
conducting in-depth interviews, case analyses, focus groups and literature searches.
oMethods for conducting exploratory research are:
§Literature surveys: a survey of existing relevant literature.
§Case studies: an analysis of examples or cases of the phenomenon that stimulates insight.
§Pilot studies: information collected from the actual subjects of the research project.
It is collected with less effort than primary data.
It enhances the collection of primary data.
It can be more accurate than primary data, since information on past events
It provides comparative data that makes for a more illuminating interpretation of primary data.
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