Section 11.1 Learning Outcomes

Marketing research is:

• The process of gathering, analyzing, and interpreting information about a market.

• The act of selling products to customers.

• A method of advertising products.

• A way to manufacture goods.

Two types of data gathered through marketing research are:

• Primary and secondary data

• Qualitative and quantitative data

• Internal and external data

• Descriptive and inferential data

Trend research is the process of:

• Identifying and analyzing patterns or shifts in consumer behavior, industry, or market.

• Creating new products without market analysis.

• Ignoring market changes.

• Focusing only on past data.

The purpose of a marketing-information system is to:

• Collect, analyze, and distribute marketing data for decision making.

• Increase product prices in the market.

• Develop new products only.

• Reduce the number of employees in the marketing department.

Define the term 'marketing research'.

• Marketing research is the process of gathering, analyzing, and interpreting information about a market, including information about the target market, consumers, competitors, and the industry as a whole.

• Marketing research is the process of creating advertisements for a product or service.

• Marketing research is the process of selling products directly to consumers through various channels.

• Marketing research is the process of manufacturing goods based on consumer demand.

Define the term 'data'.

• Data are facts and statistics collected together for reference or analysis.

• Data is a type of computer virus.

• Data refers to a programming language.

• Data is a type of hardware device.

Define the term 'database'.

• A database is an organized collection of data, generally stored and accessed electronically from a computer system.

• A database is a type of computer virus that deletes files.

• A database is a programming language used to create websites.

• A database is a device used to increase internet speed.

Define the term 'primary data'.

• Primary data is data collected firsthand for a specific research purpose.

• Primary data is data obtained from secondary sources such as books and articles.

• Primary data is data that has been processed and analyzed by others.

• Primary data is data collected from the internet without verification.

Define the term 'representative sampling'.

• Representative sampling is a subset of a population that accurately reflects the members of the entire population.

• Representative sampling is a method of collecting data only from volunteers.

• Representative sampling is when data is collected from the largest group available, regardless of characteristics.

• Representative sampling is a process of selecting only those individuals who are easiest to reach.

Define the term 'qualitative data'.

• Qualitative data is non-numerical information that describes qualities or characteristics.

• Qualitative data is numerical information that can be measured and counted.

• Qualitative data refers to data that is always represented in percentages.

• Qualitative data is information that only includes numbers and statistics.