Study Guide

Vocab 29.1: 
Problem definition: occurs when a business clearly identifies a problem or research issue and the information that is necessary to solve it

Primary data: data obtained for the first time and used specifically for the particular problem or issue

Secondary data- Is data that has already been collected for some purpose other than the current study

Survey method- Is a research technique in which information is gathered from people through the use of surveys or questionnaires

Sample- is a part of the target population that is assumed to represent the entire population to get survey results

Observation Method- is a research technique in which the actions of people are watched and recorded either by cameras or observers 

Point-of-sale Research- is a powerful form of research that combines natural observation with personal interviews to get people to explain buying behavior

Experimental Method- is a research technique in which a researcher observes the results of changing one or more marketing variables while keeping certain other variables constant under controlled conditions

Data Analysis- is the process of compiling, analyzing, and interpreting the results of primary and secondary data collected

Vocab 29.2:

Validity-exists when the questions asked measure what was intended to be measured

Reliability-Exists when a research technique produces nearly identical results in repeated trials

Open-ended questions- ask respondents to construct their own response to a question

Forced-choice questions- ask respondents to choose answers from possibilities given on a questionnaire

Pros and Cons:

Pros: secondary data can be obtained easily

Con: could be inaccurate

Marketing research process steps:

1. Defining the problem 

2. Obtaining data

3. Analyzing data

4. Recommending solutions

5. Applying the results 

Main points:

-primary or secondary data

-research steps

-defining the problem is the hardest