1. Why is market research an essential tool for the marketing manager? 2. Explain how internal databases differ from marketing intelligence. What are some advantages and disadvantages of both? 3. Marketers make heavy use of both open ended and closed-ended questions in questionnaires. What are some of the benefits or drawbackr of using each of these ways to ask questions? 4. The marketing research process has several very distinct and important stages that need to be followed. In your opinion, which is the most important? Justify your view on this 5. Suppose you are conducting market research for your favorite soda brand Sales have been lagging for two quarters, and you are determined to find out why. You decide to host an in-person focus group to gain customer insights into your brand'current product offerings. You are also interested in obtaining feedback on a new product that your brand plans to launch in the next six months. Determine the makeup of your focus group. Who should be invited to the focus group, and why? What types of information would you want to obtain?Identify possible questions to present to the focus group

1. Market research is an essential tool for the marketing manager because it helps them understand the target market, identify customer needs and preferences, and make informed decisions about product development, pricing, and promotional strategies. By conducting market research, marketing managers can gain valuable insights into consumer behavior, identify market trends, and stay ahead of the competition.<br />2. Internal databases are collections of data generated within an organization, such as sales records, customer information, and financial data. Marketing intelligence, on the other hand, refers to external information gathered from sources such as market reports, news articles, and competitor analysis. Internal databases provide a wealth of information about the organization's own performance, while marketing intelligence helps to understand the external market environment. Advantages of internal databases include cost-effectiveness and ease of access. Disadvantages include limited scope and potential bias. Advantages of marketing intelligence include comprehensive coverage and unbiased information. Disadvantages include cost and time constraints.<br />3. Open-ended questions allow respondents to provide detailed and qualitative responses, which can provide deeper insights into consumer attitudes and preferences. However, they can be time-consuming to analyze and may introduce bias. Closed-ended questions provide quantitative data that is easier to analyze and compare, but they may limit the depth of responses and may not capture the full range of consumer attitudes.<br />4. In my opinion, the most important stage of the marketing research process is the data collection stage. This is because the quality of the data collected will determine the accuracy and reliability of the research findings. Without accurate and reliable data, the research findings may be flawed or misleading, which can lead to poor decision-making.<br />5. For the focus group, I would invite a diverse group of individuals who are current or potential customers of the soda brand. This could include individuals from different age groups, genders, and socioeconomic backgrounds. I would want to obtain information about customer satisfaction with the current product offerings, as well as feedback on the new product that is planned to be launched. Some possible questions to present to the focus group include: "What do you like or dislike about our current product offerings?", "What features or attributes would you like to see in our new product?", and "What factors influence your purchasing decisions when it comes to soda?"