Coolness

Part A

1.   Explain marketing research process.
There are two types of research quantitative and qualitative. Quantitative is researching the statistics and finding numerical value and the size. Qualitative is researching

a.   Find a problem and think of a solution for it

b.   Choose resources to use and methods

c.   Create model

d.   Set limits

e.   Execute

2.   List 3 secondary data sources for both internal & external.

Internal
a. Sales data

b.   Trend data

c.   Customer reports
External

d.   Directories

e.   Government publications

f.     Competitor info

3.   List 3 primary field data sources.

a.   Surveys

b.   Experiments

c.   Observations

4.   Choose one of the primary field data sources.

a.   Explain it in more details (3 points)

                                         i.    Surveys, is the research method that obtains information from large samples

b.   Explain the advantages & disadvantages (3 points each)

                                         i.    Gives broad and general data of different people

                                        ii.    Does not give specific or clear data other methods

Part B

5.   What is a micro-environment and list 5 elements
It is the environment that links mostly closely to the organization.

a.   Customers

b.   Suppliers

c.   Employees

d.   Trade Union

e.   Regulator

6.   List and describe the four categories of competitor environment.

a.   Direct Competitors
Firms selling similar products and they are rivals

b.   Close competitors
Firms selling similar products

c.   Substitutes
Products that are different but they may be bought instead

d.   Indirect competitors
Rivals that sell different products

7.   Define and provide an example from YOUR experiences

a.   Perfect competition

                                         i.    Firms selling homogenous goods to buyers who can buy on price alone

b.   Monopolistic competition

                                         i.    Firm selling different goods over which they have a monopoly

c.   Oligopoly

                                         i.    Competition between a small number of firms

d.   Monopoly

                                         i.    A single supplier

8.   List and describe Porter’s five forces.

a.   Intensity of existing competition

b.   Barrier to the entry
How easy it is for newcomers to enter the market

c.   Threat of substitute

d.   Bargaining power of customers
Dominant customers that make the prices lower

e.   Bargaining power of suppliers
Dominant suppliers will jack up the prices

9.   List the 5 main market environment types.

a.   Consumer markets

b.   Business markets

c.   Export markets

d.   Government markets

e.   Reseller markets

10.                What is a macro-environment and list 5 elements
It is the general environment that influences the organization

a.   Macro economic environment

b.   Political environment

c.   Demographic environment

d.   Technical environment

e.   Legal and regulatory environment