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Method

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Submitted By narjwa
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Q1 - What is the purpose of doing research?

A1 -- To provide information

Q2 - What is the difference between data and information?

A2 – Data refers to observations & evidence regarding to sample subjects or population element.

A2 – Information refers to data that reduce the uncertainty in a decision-making situation.

Q3 – Who are the most likely target audience of research?

A3 -- Your manager, boss, decision maker, research clients, or anyone interested in the particular information

Q4 – What is the use of information?

A4 – As the basis for making better/rational decisions

Q5 - What should the formal definition of research be?

A5 – Its the systematic and objective identification, collection, analysis and dissemination of information for the purpose of assisting management in decision-making

Systematic – implies organization & planning of the research project. Objective – implies that the research should not be biased or emotional in character. Information – is the product of research, defined as data which minimizes decision-making uncertainty.

Q6 – How is Marketing Research classified?

A6 – It is classified as

Problem/Opportunity Identification Research

Problem-Solving/Opportunity Resolution Research

Q7 – What is Problem/Opportunity Identification (P/OI) Research?

A7 – It is a research to identify problems/opportunities which may not be apparent, but which exist or are likely to arise in the future.

Q8 – Examples of Problem/Opportunity Identification (P/OI) Research?

Market potential research

Market share research

Image research

Market characteristics research

Sales analysis research

Forecasting, business trends research

Q9 – What is Problem-Solving/Opportunity Resolution (PS/OR)

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