C3 (RESEARCH) - Marketing research process

What is the first step in the marketing research process?

• Establish research objectives

• Collect data

• Define the problem

• Establish the need for marketing research

When is marketing research not needed?

• All of the above

• When the information is already available

• When the timing is wrong

• When funds are not available

What is the most important step in the marketing research process?

• Collecting data

• Defining the problem

• Establishing research objectives

• Analyzing data

What do research objectives specify?

• Who will gather the information

• What information is needed

• The unit of measurement

• All of the above

What type of research collects information in an unstructured and informal manner?

Answer explanation

Exploratory Research: collecting information in an unstructured and informal manner.

What is an example of secondary information?

• Information already collected via books, journal, internet etc

• Information collected specifically for the problem at hand

• Data collected through observation

• Data collected through survey

What software programs that are available to assist marketing researchers in preparing data collection form.

• SPSS software

• SurveyMonkey

• Word

• Google Forms

What does the sample plan describe?

• All of the above

• How to analyze the collected data

• How each sample element is to be drawn from the total population

• How to interpret the collected data

What is the last step in the marketing research process?

• Establishing research objectives

• Communicating the insights

• Analyzing data

• Collecting data

What are hypotheses and constructs in marketing research?

Answer explanation

Hypotheses are statements that are taken as true for the purposes of argument or investigation.

Example of hypothesis: “Increasing the price of a product will lead to a decrease in sales volume”.

A construct is an abstract idea or concept composed of a set of attitudes or behaviors that are thought to be related.