MKT 352 EXAM 1 Study Guide:
Marketing Research: the process of designing, gathering, analyzing, and reporting information
that may be used to solve a specific marketing problem.
What’s the purpose of Marketing Research: To link the consumer to the marketer by providing
information that can be used in making marketing decisions.
What’s the correlation between marketing research and marketing strategy?: We need marketing
research to make the right decisions to select the right marketing strategy.
What are the four categories of marketing research?: 1. Identify marketing opportunities and
problems 2. Generate, refine, and evaluate potential marketing actions 3. Monitor marketing
performance 4. Improve marketing as a process.
Marketing Information System: A structure consisting of people, equipment, and procedures to
gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to
marketing decision makers.
Difference between MIS and Marketing Research: MIS is like a candle in a dark room Marketing
research is like a flash photo.
What are the 11 steps of the marketing research process? 1. Establish the need for research 2.
Define the problem 3. Determine the Research Objectives 4. Determine the “research design" 5.
Identify the type and source of information 6. Determine the data collection method(s) 7. Design
data collection forms 8. Determine sample plan and sample size 9. Collect the data 10. Data
Analysis 11. Prepare and Present the Final Report.
Establish the Need for Research: Four indicators that research is needed a. When we must make
a decision and needed information is lacking. (an information gap) b. We see symptoms of an
underlying problem but don't know what it is (or even what the alternative causes might be) c.
We don't know what possible alternative actions could be taken to cure the symptoms. d. We
want to verify the indicators of a possible marketing opportunity Five indicators that research is
not needed: a. There is no decision to be made b. Adequate information is available c. Decisions
are need immediately - no time to do research d. Cost of research is greater than its value e.
There are no resources for research.
Define the Problem: You must distinguish among these: Symptoms Underlying problems
Managerial problems Research problems.
Different Types of Research: a. Two types: “Primary research” is the collection of data you do by
communication or observation Secondary research is the identification of existing studies done
by somebody else in the past. b. Sources: Primary - Decide what people to ask or observe? What
things to observe? Secondary - What publications? Census? Syndicated services? Proprietary
services?
Three types of Research Designs - a. Exploratory b. Descriptive C. Causal
Sample Plan/Sample Size: A sampling plan guides us in how we define populations and use an
acceptable method to select people or things to interview or observe (this step determines
representativeness) Sample size will depend on the accuracy we need (small sample size causes
"sampling error").
When do we perform marketing research? When we must make a decision and needed
information is lacking. (an information gap) b. We see symptoms of an underlying problem but
don't know what it is (or even what the alternative causes might be) c. We don't know what
possible alternative actions could be taken to cure the symptoms. d. We want to verify the
indicators of a possible marketing opportunity.
What are research objectives?: state specifically what information must be produced by the
researcher so that the manager can choose the correct alternative to solve the problem.
Q: A need to decide on a course of action by Meisterbrau is what? A managerial problem An
underlying problem A research problem A symptom. A: A Managerial Problem.
Descriptive Research: To accurately describe a market.
Casual Research: To show that one variable will impact another (will humorous ads sell more
than serious ads?)
Exploratory Research: most commonly unstructured, informal research that is undertaken to gain
background information about the general nature of the research problem.
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