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Midterm Trend Search & Analysis > 1.4 + 1.5 + 1.6 > Flashcards

1.4 + 1.5 + 1.6 Flashcards

1
Q

What are the 5 steps of the market research process?

A
  1. Problem definition/purpose
  2. Research Design
  3. Data Collection
  4. Analysis of Data
  5. Research Report
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2
Q

How many phases does the ‘problem definition’ stage have?

A

3

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3
Q

What are the 3 phases of the ‘problem definition’ stage

A
  1. Research purpose
  2. Specific objectives and research questions
  3. Information needs
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3
Q

What is defined in the ‘research purpose’ phase?

A

The generic objective to be investigated

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4
Q

What is done in the ‘Specific objectives or research questions’ phase?

A

Specification and precision of the research purpose. Incorporation of possible answers to the questions to investigate

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5
Q

What is done in the ‘Information needs’ phase?

A

Specification of information necessary to fulfill the specific objectives

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6
Q

What is smart to do when creating specific objectives or research questions? (5)

A
  • interact with executives
  • interview experts
  • do exploratory research
  • have an experienced researcher
  • use secondary information
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7
Q

How many steps does the research design have?

A

6

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8
Q

What are the 6 steps of the research design?

A
  1. Sources
  2. Approach
  3. Technics
  4. Sampling
  5. Survey
  6. Budget
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9
Q

Which 2 types of sources are there

A
  • primary information
  • secondary information
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10
Q

What is secondary information?

A

Data that already exists and is generated for another purpose. This information is different from the problem or need of information that the researcher intends to address.

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11
Q

What are the advantages of secondary information? (3)

A

Economical
Fast
Available

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12
Q

What are the disadvantages of secondary information? (4)

A
  • uncertain
  • not consistent
  • inappropriate units of measure
  • not updated
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13
Q

What are the 3 different types of approaches for research?

A
  • exploratory research
  • descriptive research
  • causal research
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14
Q

What is Exploratory Research used for? (6)

A
  • For ambigious problems
  • To deepen the general nature of a problem
  • To formulate the problem accurately and identify relevant variables
  • To generate a hypotheses
  • To develop a measurement scale
  • To use as a basis for descriptive or causal studies
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15
Q

What are the characteristics of exploratory research? (3)

A
  • Preliminar
  • Flexible
  • Little Formalized
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16
Q

Data used in exploratory research?

A

Secondary data or qualitative techniques

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17
Q

What is a characteristic of information obtained through exploratory research?

A

non-quantifiable (niet meetbaar)

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18
Q

What are keywords to describe exploratory research? (2)

A

KNOW & IDENTIFY

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19
Q

What is Descriptive Research used for? (6)

A
  • For somewhat defined problems
  • To describe some phenomenon or reality under study
  • To expand and quantify information on the nature of the known problem
  • To understand market size
  • To segment markets
  • To measure performance
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20
Q

What are the characteristics for descriptive research? (5)

A
  • Formal
  • Systematic
  • Based on specific objectives
  • Cross-sectional
  • Longitudinal
21
Q

What are 2 different types of cross-sectional research?

A
  • Simple cross-sectional research = 1 sample at a given time
  • Multiple cross-sectional research = multiple samples at a given time
22
Q

What does longitudinal mean?

A

1 or more samples over time (repeated measurement)

23
Q

What kind of data is collected within descriptive research?

A

Primary information, quantitative techniques

24
Q

What are the characteristics of information obtained through descriptive research? (2)

A

Numerical & quantifiable

25
Q

What is a keyword that is used for descriptive research?

A

MEASURE

26
Q

What is Causal Research used for? (3)

A
  • For clearly defined problems
  • To search for cause-effect relationships between variables already identified or known
  • To understand the performance effects of marketing mix elements
27
Q

What is the independent variable?

A

a variable (often denoted by x ) whose variation does not depend on that of another.

28
Q

What is the dependent variable?

A

a variable (often denoted by y ) whose value depends on that of another.

29
Q

In the case of a 2 plants being watered in the same condition and the growth of the plants being measured, the amount of water each plant gets is the……. (dependent/independent)

A

Independent Variable

30
Q

In the case of a 2 plants being watered in the same condition and the growth of the plants being measured, the growth of each plant is the……. (dependent/independent)

A

Dependent Variable

31
Q

What are the requirements for the existence of causality? (4)

A
  • Related variables
  • The cause must occur before the effect
  • Control of other factors surrounding it
  • A good explanatory theory is needed
32
Q

What are the characteristics of causal research? (2)

A
  • based on hypotheses
  • relationship between variables is measured
33
Q

What type of data is collected in causal research?

A

Secondary and Primary. quantitative techniques

34
Q

What are the characteristics of the information obtained through causal research? (2)

A

Numerical & Quantifiable

35
Q

What is a keyword for causal research?

A

MEASURE

36
Q

What are 3 things you should do in a sampling plan?

A
  • Identify + quantify the target population
  • Calculate sampling size
  • Choose sampling procedure
37
Q

Which two types of sampling are there?

A

Probability Sampling
Non-probability Sampling

38
Q

What is probability Sampling?

A

It involves random selection and allows to make of statistical inferences about the whole group. Every member of the population has a chance of being selected

39
Q

What is non-probability sampling?

A

Involves non-random selection baes on convenience or other criteria, allowing you to easily collect initial data

40
Q

What are the advantages of sampling? (6)

A
  • Cost Reduction
  • Speed
  • Precision
  • Accesibility
  • Simplicity
  • Consistency with the research objectives
41
Q

What are the disadvantages of sampling? (2)

A
  • Inherent sampling error
  • Great care in its design and preparation needed
42
Q

What does population mean within the context of sampling?

A

the entire group you want to draw conclusions about can be defined in terms of geographical location, age, income, etc.

43
Q

What does the Sampling Frame in the context of sampling mean?

A

The actual list of individuals the sample will be drawn from. Ideally, it should include the entire target population

44
Q

What does Sample mean?

A

the specific group of individuals that you will collect data from

45
Q

What are factors to consider when budgeting? (4)

A

Time
Costs
Payment Calendar
Type of Budget

46
Q

What are the two different types of time that can be included in the budget?

A

*Internal time (dedicated by the company)
*External time (billed by the researcher)

47
Q

What are the types of costs to take into consideration when making a budget? (5)

A

*Travel and diets
*Materials
*Data collection
*Outsourced work
*Information processing

48
Q

What are things you should take into consideration when thinking about the payment calendar (3)

A

*Payments at the end of the investigation
*Payments based on a result
*Periodic payments

49
Q

What are the two types of budgets?

A
  • Open/ reviewable
  • Closed/ fixed

Midterm Trend Search & Analysis (7 decks)

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