Question 1

Although market research provides information about marketplace for developing strategies, but it is not the only source of information.

Accepted Answer

Market research is one source of information for developing strategies, but other sources such as customer feedback, competitor analysis, and industry trends should also be considered.

Question 2

Marketing research is rarely used by non-business organisations (for example, government bodies) because their functions are distinct from those of for-profit organisations.

Accepted Answer

While the functions of non-business organizations may be distinct from for-profit organizations, marketing research can still be useful in helping them understand the needs and preferences of their target audience, and in developing effective communication and outreach strategies. Therefore, marketing research is used by non-business organizations such as government bodies, non-profits, and charities.

Question 3

Marketing research fulfils the organisation's need for knowledge of the market.

Accepted Answer

Marketing research is conducted to gather information about the market, customers, competitors, and other factors that can impact the organization's decision-making process. This information is then used to support marketing strategies and tactics that can help achieve the organization's objectives. Therefore, marketing research fulfils the organisation's need for knowledge of the market.

Question 4

Applied research is used when a decision is to be made about specific real-life problem.

Accepted Answer

Applied research is focused on solving practical problems and making decisions based on the results. It is the opposite of pure research, which is concerned with expanding knowledge and understanding without necessarily having an immediate real-world application.

Question 5

Digital technologies help shape research questions to design marketing mix.

Accepted Answer

The answer of Digital technologies help shape research questions to...

Question 6

Use of scientific method in basic research ensures objectivity in gathering facts and testing creative ideas for alternative strategies.

Accepted Answer

The answer of Use of scientific method in basic research...

Question 7

Market research is restricted to only one P of marketing mix i.e. Product.

Accepted Answer

Market research covers all elements of the marketing mix, including product, price, promotion, and place.

Question 8

Research is limited to only profit making organisations.

Accepted Answer

Research can also be conducted by non-profit organizations, government agencies, academic institutions, and individuals for the purpose of advancing knowledge and solving problems, without the sole focus on making a profit.

Question 9

Researchers usually begin with some understanding of hypothesis for idea generation.

Accepted Answer

The answer of Researchers usually begin with some understanding of...

Question 10

Pure research is aimed to expand the limits of knowledge.

Accepted Answer

Pure research, also known as basic research, is conducted to expand the existing knowledge without any immediate practical application or commercial gain. Its primary aim is to generate new theories, concepts, and ideas, which could eventually lead to the development of new technologies, products, or services.

Question 11

Research that regularly provides feedback for evaluation and control of marketing activity is called as performance-monitoring research.

Accepted Answer

Performance-monitoring research is designed to track and measure the results of marketing activities in order to provide feedback for evaluation and control. It helps organizations to assess whether their marketing efforts are meeting their goals and to make necessary adjustments.

Question 12

The importance of market research in developing marketing strategy starts with analyses of market segments.

Accepted Answer

The answer of The importance of market research in developing...

Question 13

Basic research is also termed as pure research.

Accepted Answer

Basic research is also called pure research, as it aims to generate new knowledge and theories rather than solving practical problems or developing new products.

Question 14

In marketing research, information is gathered intuitively to aid decision-making in marketing.

Accepted Answer

Information is not gathered intuitively in marketing research. Rather, it is gathered through systematic and objective methods such as surveys, experiments, and observations. The purpose is to obtain accurate and reliable data that can inform decision-making in marketing.

Question 15

The techniques used to recognize and understand specific phenomenon is called scientific method.

Accepted Answer

The scientific method refers to the process used by scientists to recognize and understand specific phenomena. This process involves observation, hypothesis formation, experimentation, and analysis.

Question 16

Digital marketing is a term used to capture various electronic and communicative technologies through which marketing enterprises work together with customers towards enhancing value from interactions.

Accepted Answer

Digital marketing involves using various digital technologies and communication channels to engage with customers and create value from those interactions.

Question 17

The value of marketing research depends upon nature of the managerial decisions to be made.

Accepted Answer

The value of marketing research can vary depending on the nature of the managerial decisions that need to be made. If the decisions are strategic or high-stakes, then the value of the insights gained from marketing research is likely to be higher. Conversely, if the decisions are routine or low-stakes, then marketing research may not be as valuable.

Question 18

Applying research is a managerial art.

Accepted Answer

Applying research involves analyzing and interpreting data, making decisions based on that information, and implementing strategies to address identified issues or opportunities. This requires a combination of both technical skills and managerial art, as it involves understanding and navigating complex organizational relationships, effectively communicating findings and recommendations, and using insights to drive continuous improvement.

Question 19

Discovery can involve any means of idea generation, including exploratory techniques.

Accepted Answer

Discovery is the process of generating new ideas, and exploratory techniques are one way to do this. Therefore, option A is true.

Question 20

Marketing research uses comprehensive set of approaches (e.g. surveys, interviews) that can help organisations to better meet important outcomes.

Accepted Answer

Marketing research does indeed use a comprehensive set of approaches, such as surveys and interviews, to help organisations meet important outcomes.

Quiz 1: The Role of Marketing Research and the Research Process