Marketing Research Basics

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This involves the process and methods used to gather information, analyze it, and report findings related to marketing goods and services.

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Marketing Research

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Which of the following is not a reason businesses use marketing research? Options: identifying market opportunities, solving marketing problems, monitoring market performance, deciding how many staff to hire to manufacture the goods

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deciding how many staff to hire to manufacture the goods

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This is a set of procedures and methods that regularly generates, stores, analyzes, and distributes information for making marketing decisions.

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Marketing Information System

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This is simply a collection of related information about a specific topic.

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database

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This type of data coming from research answers questions such as "how many?" and "how much?".

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Quantitative Data

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This type of data from research answers questions such as "how" and "why".

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Qualitative data

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This type of marketing research is used to determine if or how effective the media efforts are for a company, brand, or product.

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Media

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This type of marketing research tries to determine consumers opinions by using methods such as surveys or focus groups.

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Attitude/Opinion

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This type of marketing research is used when a company is trying to gather information about a particular market or competition within a particular market.

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Market

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A business may conduct this type of marketing research when making changes to a current product design.

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Product