Conducting Marketing Research

Which of the sentences below states the market research process in the correct order?

• 1) Problem definition, 2) Development of an approach to the problem, 3) Research design formulation, 4) Field work or data collection, 5) Data preparation and analysis, 6) Report preparation and presentation

• 1) Problem definition, 2) Development of an approach to the problem, 3) Field work or data collection , 4) Research design formulation, 5) Data preparation and analysis, 6) Report preparation and presentation

• 1) Problem definition, 2) Development of an approach to the problem, 3) Research design formulation, 4) Field work or data collection, 5) Report preparation and presentation, 6) Data preparation and analysis

• 1) Problem definition, 2) Data preparation and analysis, 3) Development of an approach to the problem, 4) Research design formulation, 5) Field work or data collection, 6) Report preparation and presentation

Which is NOT an example of primary data?

• Financial reports

• Surveys

• Polls

• Focus Groups

Which is NOT an example of secondary data?

• Sales reports

• Government reports

• Financial reports

• Statistical methods

Which statements below are benefits of primary and secondary data?

• Builds knowledge on market trends

• Minimize risk

• Helps in customer data monetization

• All of the above

Which type of data set is expensive, more time consuming and has a higher level of control?

• Primary data

• Secondary data

What are the main sources for secondary data?

• Previous research, mass media products, government reports, official statistics, web information, historical data, etc.

• Interviews, surveys, questionnaires, field observation, experiments, action research, case studies, etc.

Which statements are true about primary data?

• Real-time data

• Always specific to researcher's needs

• More capable to solve a specific problem

• All of the above

Which statements are true about secondary data?

• Past data

• Low cost or free

• Lack of control over data quality

• All of the above

Questionnaires must be valid and reliable.

• True

• False

What is validity?

• When the questions asked measures what was intended to be measured

• When a research technique produces nearly identical results in repeated trials.