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Part A

1.   Explain marketing research process.

·         Define the problem

·         Define the research

·         Choose date sources

·         Choose research methods

·         Construct sample

·         Set budget and deadline

·         Undertake research

·         Analysis and Evaluation

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

Internal

·         Sales figures                

·         Customer reports

·         MIS reports

External

·         Directories

·         Retail audits

·         Trade association data

3.   List 3 primary field data sources.

·         Experiments

·         Surveys

·         Panels

4.   Choose one of the primary field data sources.

Observation

Strengths

·         What people do rather than say

·         Potential for bias is reduce

·         Carried out without customer’s kownledge

Weakness

·         Time consuming

·         Only gives partial information

·         Easy to misinterpret behavoir

Part B

1.   What is a micro-environment and list 5 elements

·         Customers

·         Suppliers

·         Regulators

·         Trade unions

·         Intermediaries

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

·         Direct competitors

Firms that produce similar products which is a direct rival

·         Close competitor

Firms producing similar products

·         Substitutes

Product that are different but might be bought instead

·         Indirect competition

All the others

3.   Define and provide an example from YOUR experiences

a.   Perfect competition- mega blocks and Lego

b.   Monopolistic competition-Sodas

c.   Oligopoly-Pepsi and Coke

d.   Monopoly-Dr.Pepper

4.   List and describe Porter’s five forces.

·         the intensity of existing competitions

·         barrier or lack of to the entry

·         the threat of substitute products

·         the bargaining power of suppliers

·         the bargaining power of customers

5.   List the 5 main market environment types.

·         Consumers

·         Business

·         Export market

·         Government market

·         Reseller market

6.   What is a macro-environment and list 5 elements

·         Macro economic

·         Political

·         Social

·         Demography

·         Technical