Abe would like to locate a new unit of his franchised fast-food restaurant chain. He orders an evaluation of several city blocks from a marketing research firm. The research firm will determine the population, population growth, income, and other important demographic information for the defined geographical area. The research company will be performing: marketing research
a restaurant location study
What is the difference between marketing research and market research? -marketing research is the function that links the consumer, customer, and public to the marketer through information. Market research is the systematic gathering, recording, and analyzing of data with respect to a particular market (specific group in specific location)
Distinguish between "basic" research and "applied" research. Under what circumstances is each one appropriate? -Basic: The main motivation is to expand man's knowledge , not to create or invent something. (ex: How did the universe begin?) -Applied: designed to solve practical problems of the modern world, rather than to acquire knowledge for knowledge's sake. (ex: improve the energy efficiency of homes, offices, or modes of transportation)
How can the findings of the basic research reported in “Forget What You Know About Good Study Habits” be used by marketers? -”For instance, instead of sticking to one study location, simply alternating the room where a person studies improves retention. So does studying distinct but related skills or concepts in on” - memory retention, display same ads in different environments.
All of the following questions are guidelines for helping managers consider the cost of research and the value they expect to receive from conducting it EXCEPT: a.
Will the research help clarify problems or opportunities? b.
Will the research prevent product failure?
Will research identify changes that are occurring in the marketplace among consumers and/or competitors? d.
Will research clearly identify the best alternative to pursue among a set of proposed alternatives? e.
Will the research help your brand establish a competitive advantage?
What is the most important step in the marketing research process and why? -Step 2: Define the Problem
• “Break it down” into more scientific terms and specific information requirements.
State the problem or opportunity as a “how,” “what,” “where,” “when,” and “why”.
-Marketing research not needed: 1. info already available 2. decisions must be made now 3. we can’t afford research 4. costs outweigh value of marketing research
Which one of the following might be an important marketing research construct for an automobile manufacturer? horsepower
Each of the following research questions can be used to operationalize marketing research constructs for a car dealership EXCEPT: What percentage of customers is satisfied with your service? How many speakers are included with each car's stereo system? Would you buy a car here again?
Do you plan to buy a car in the next six months?
Do you prefer our cars to the dealer across the street?
Define and explain the relationship between symptoms and problems. -The Role of Symptoms in Problem Recognition
• Symptoms are changes in the level of some key monitor that measures the achievement of an objective. (losing money is a symptom)
• The role of the symptom is to alert management to a problem; there is a gap between what should be happening and what is happening.
Erin’s Pizza has noticed a decline in sales. Is this a symptom or a problem? Take Erin from this observation through the problem definition steps needed to define appropriate research objectives. -Symptom.
Sony is contemplating expanding its line of 3-inch and 6-inch portable televisions. It thinks there are three situations in which this line would be purchased: (a) as a gift, (b) as a set to be...
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