Marketing 415 Exam 1 All Answers Correct
formulate the problem or question ️1st step in marketing research process
determine the sources of information and design a research process ️2nd step in marketing research
process
choose the most appropriate data collection method ️3rd step in...
Marketing 415 Exam 1 All Answers Correct
formulate the problem or question ✔️1st step in marketing research process
determine the sources of information and design a research process ✔️2nd step in marketing research
process
choose the most appropriate data collection method ✔️3rd step in marketing research process
collect the data ✔️4th step in marketing research process
analyze and interpret the data ✔️5th step in marketing research process
Conjoint analysis ✔️strengths: the product or service is a complex bundle of attributes
there is need to test a company's value attributes
you need to understand which combination of attributes will appeal most to customers
Conjoint analysis ✔️weaknesses: useful only when the product can be viewed as a bundle of attributes
limited to informing product-design decisions
focus groups ✔️Strength: the issues are not well understood
attitudes and motivations must be uncovered
there is a need to generate ideas to be studies through quantitative research
, the subject would make group interaction useful
focus groups ✔️Weaknesses: expensive and time-consuming
does not provide a representative sample
the moderator and group dynamics can skew results
In-depth interview ✔️strengths: the issues are not well understood
attitudes and motivations must be uncovered
there is a need to generate ideas to be studies through quantitative research
a focus group would be difficult to conduct
in-depth interview ✔️weaknesses: expensive, especially face-to-face
does not provide a representative sample
results may not be easy to interpret or tabulate and may be vulnerable to interviewer bias
Internal data ✔️strength: budget is small or nonexistent
data are available in the company's information systems
internal data ✔️weaknesses: useful in describing what has happened, but not what might happen
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