Marketing Research

Reasons for conducting marketing research: (Select all that apply)

• Identify new customers

• Understand existing customers

• Develop New Strategies

• Solve Business Problems

• Identify new business opportunities

Impact of marketing research on company's: (Select all that apply)

• Helps with product design

• Defines the Target Market

• Which markets should be priority in selling

• How to price the product

________________________ found by deciding what type of research needs to be done and what type of information a certain entity is hoping to obtain from the research.

• Research Objectives

• Primary Research

• Secondary Research

• Qualitative Research

________________________ research you conduct yourself (or hire someone to do for you.) It involves going directly to a source —usually customers and prospective customers in your target market — to ask questions and gather information. The research can include focus groups, surveys, interviews, and observations.

• Quantitative Research

• Primary Research

• Secondary Research

• Qualitative Research

________________________ type of research that has already been compiled, gathered, organized and published by others.

• Quantitative Research

• Primary Research

• Secondary Research

• Qualitative Research

________________________ designed to reveal a target audience’s range of behavior and the perceptions that drive it with reference to specific topics or issues. The results of are descriptive rather than predictive.

• Quantitative Research

• Primary Research

• Secondary Research

• Qualitative Research

________________________ stimulating and highly educational technique to gather information from existing and potential customers using sampling methods and sending out online surveys, online polls, questionnaires etc., the results of which can be analyzed using statistical methods.

• Quantitative Research

• Primary Research

• Secondary Research

• Qualitative Research

______________________organizational characteristics and performance that are influenced by market forces and adapted to meet changing market needs. Focus on internal competencies that foster greater responsiveness to their customers and their target market.

• Market Driven Information

• Customer Driven Information

• Marketing Information Management function

• Marketing Information System

______________________works by identifying a target market first, and creating a marketing strategy geared towards attracting this particular segment of the population.

• Market Driven Information

• Customer Driven Information

• Marketing Information Management function

• Marketing Information System

______________________ all about businesses collecting information about the customers in their target market to make decisions about their respective products and services. They recognize that by understanding consumers, expanding choices, understanding competition, and the global marketplace will help them make better decisions.

• Market Driven Information

• Customer Driven Information

• Marketing Information Management function

• Marketing Information System