CHAP. 29 - Study Guide

Terms: 29.1
1. Problem definition - Occurs when a business clearly identifies a problem or research issue and the information that is necessary to solve it.
2. Primary Data - Data obtained for the first time and used specifically for the particular problem or issue under study.
3. Secondary Data - Has already been collected for some purpose other than the current study.
4. Survey Method - A research technique in which information is gathered from people through the use of surveys or questionnaires.
5. Sample - A part of the target population that is assumed to represent the entire population.
6. Observation Method - A research technique in which the actions of people are watched and recorded either by cameras or observations.
7. Point-of-Sale Research - A powerful form of research that combines natural observation with personal interviews to get people to explain buying behavior.
8. Experimental method - A research technique in which a researcher observes the results of changing one or more marketing variables while keeping certain other variables constant under controlled conditions.
9. Data Analysis - The process of compiling, analyzing, and interpreting, the results of primary and secondary data collection.

Terms: 29.2
1. Validity - Exists when the question asked measure what was intended to be measured.
2. Reliability - Exists when a research technique produces nearly identical results in repeated trials.
3. Open-ended Questions - Ask respondents to construct their own response to a question.
4. Forced-choice Questions - Ask respondents to choose answers from possibilities given on a questionnaire.

Research Process Steps:
1) Defining the problem
2) Obtaining Data
3) Analyzing the data
4) Recommending Solutions to the problem
5) Applying the results

Pros and Cons of Primary and Secondary Data: 
Primary data is more reliable.
Secondary data may not be as reliable.

Special Thanksgiving Event - Faneuil Hall Marketplace

A Thanksgiving event that I found in Boston is in the Faneuil Hall marketplace tree lighting. People come from all over to Boston but seeing Faneuil Hall with the trees all lit up is just amazing. Especially at night time where the trees just glow and everyone is happy. The vibe you get while walking through Faneuil Hall marketplace at night time with your friends or loved ones is an amazing feeling. The lights go up in November ans stay up throughout the rest of November and throughout all of December.

Thinking Critically

THINK CRITICALLY