B. The research process

9 important questions on B. The research process

What are the steps of the marketing research process?

1. Defining the problem
2. Setting up research design
3. Choosing basic method of research to gather data
4. Selecting sampling procedure
5. Data collection
6. Data analysis
7. Reporting the findings
8. Follow up

What is a focus group?

In-depth discussion about one theme with 8-12 participants

What is the iceberg principle?

When people focus on the symptoms rather than the deeper underlying problem
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What is the marketing research problem?

Specifies which info is needed to solve the management decision problem and how that info can be obtained efficiently and effectively

What are the 2 requirements for causality?

1. Temporal sequence - appropriate causal order of events
2. Concomitant variation - degree to which a presumed cause and presumed effect occur or vary together

What is a request for proposal?

Invites marketing research suppliers to submit proposals that include a bid.

What is the "no bullshit" principle?

Everything stated must be backed up by facts

What are the advantages and disadvantages of secondary data?

+
Fast to collect
Less expensive
Good starting point

-
Often outdated
Often insufficient   
Often not tied to specific problem

What is the difference between exploratory and conclusive research?

Exploratory is used to obtain insights to fully comprehend and clarify problems. Helps determining what to ask.

Conclusive research is used to obtain definitive answers. Provides precise answers to specific problems

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