Primary Market Research

What is the process involved in Marketing Research?

Planning, collecting, analyzing, and using information to inform decisions and reduce uncertainty.

Name the first step in the Research Process.

Define the problem/opportunity and research objectives.

What are the two main types of research data?

Primary data (collected yourself) and Secondary data (collected previously).

What is Exploratory Research?

A qualitative method involving observation, interviews, and focus groups to gather insights.

What is the Hawthorne effect?

The change in behavior when individuals are aware they are being observed.

What type of questions do surveys measure?

Awareness, understanding, engagement, usage, attitude, intentions, etc.

What does a Control Group do in experimental research?

It serves as a baseline to compare the effects of the treatment variable.

List one pro and one con of Primary Research.

Pro: Data is current; Con: It can be expensive and time-consuming.

What is meant by 'Self-Selection Bias'?

A threat to representativeness where participants choose themselves to be part of the study.

What is the ultimate goal of the Research Process?

To make informed decisions based on the analysis of the collected data.