PART A – REVIEW QUESTIONS
- Typically, the first step in conducting formal market research is examining what is already available. This is called desk research.
- In at least three (3) lines explain what desk research is.
- In at least five (5) lines, explain why this is typically the first step in conducting formal market research.
- List at least five (5) types of information that you would collect when conducting desk research.
- List at least three (3) internal and three (3) external sources where you could get this information.
- In your own words define the term hypothesis, and explain why it is included in a market research report.
- Consider the following statement: Defining research objectives is the most important step in designing a marketing research plan. Do you agree with this statement? Yes or No. Explain your answer in at least three (3) sentences.
- Explain the difference between qualitative and quantitative data.
- List at least five (5) procedures you could follow to check the quality of the data you collect during market research.
- When collating survey data, it is important to ensure it is assessable and useable. It is equally important to ensure it is stored securely.
a) There are numerous display tools that can be used to translate survey results into useable information. Provide at least one (1) example and explain when this display tool might be used.