1.4 + 1.5 + 1.6 Flashcards by Fleur Menue

What are the 5 steps of the market research process?

Problem definition/purpose
Research Design
Data Collection
Analysis of Data
Research Report

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

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

Research purpose
Specific objectives and research questions
Information needs

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What is defined in the ‘research purpose’ phase?

The generic objective to be investigated

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

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

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What is done in the ‘Information needs’ phase?

Specification of information necessary to fulfill the specific objectives

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

interact with executives
interview experts
do exploratory research
have an experienced researcher
use secondary information

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How many steps does the research design have?

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What are the 6 steps of the research design?

Sources
Approach
Technics
Sampling
Survey
Budget

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Which 2 types of sources are there

primary information
secondary information

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What is secondary information?

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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What are the advantages of secondary information? (3)

Economical
Fast
Available

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What are the disadvantages of secondary information? (4)

uncertain
not consistent
inappropriate units of measure
not updated

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What are the 3 different types of approaches for research?

exploratory research
descriptive research
causal research

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What is Exploratory Research used for? (6)

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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What are the characteristics of exploratory research? (3)

Preliminar
Flexible
Little Formalized

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Data used in exploratory research?

Secondary data or qualitative techniques

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What is a characteristic of information obtained through exploratory research?

non-quantifiable (niet meetbaar)

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What are keywords to describe exploratory research? (2)

KNOW & IDENTIFY

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What is Descriptive Research used for? (6)

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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What are the characteristics for descriptive research? (5)

Formal
Systematic
Based on specific objectives
Cross-sectional
Longitudinal

What are 2 different types of cross-sectional research?

Simple cross-sectional research = 1 sample at a given time
Multiple cross-sectional research = multiple samples at a given time

What does longitudinal mean?

1 or more samples over time (repeated measurement)

What kind of data is collected within descriptive research?

Primary information, quantitative techniques

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

Numerical & quantifiable

What is a keyword that is used for descriptive research?

MEASURE

What is Causal Research used for? (3)

* 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

What is the independent variable?

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

What is the dependent variable?

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

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)

Independent Variable

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)

Dependent Variable

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

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

What are the characteristics of causal research? (2)

* based on hypotheses * relationship between variables is measured

What type of data is collected in causal research?

Secondary and Primary. quantitative techniques

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

Numerical & Quantifiable

What is a keyword for causal research?

MEASURE

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

* Identify + quantify the target population * Calculate sampling size * Choose sampling procedure

Which two types of sampling are there?

Probability Sampling Non-probability Sampling

What is probability Sampling?

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

What is non-probability sampling?

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

What are the advantages of sampling? (6)

* Cost Reduction * Speed * Precision * Accesibility * Simplicity * Consistency with the research objectives

What are the disadvantages of sampling? (2)

* Inherent sampling error * Great care in its design and preparation needed

What does population mean within the context of sampling?

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

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

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

What does Sample mean?

the specific group of individuals that you will collect data from

What are factors to consider when budgeting? (4)

Time Costs Payment Calendar Type of Budget

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

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

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

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

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

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

What are the two types of budgets?

* Open/ reviewable * Closed/ fixed