4/4 of course

Question 1

what are qualitative exploratory methods?

Answer 1

case studies, focus groups, qualitative research
- characteristics: flexible, versatile, but not conclusive
- useful for: discovery of ideas and insights

Question 2

what are quantitative descriptive methods?

Answer 2

surveys, panels, scanner data
- characteristics: preplanned, structured, conclusive
- useful for: describe market characteristics or functions

Question 3

what are causal quantitative methods?

Answer 3

experiments
- characteristics: manipulation and control of variables
- useful for: determine cause and effect relationships

Question 4

what is a focus group?

Answer 4

Most common type of qualitative research
- Ask open-ended questions and let participants speak freely
- Content analysis of focus group discussion
- Identify important features and other (emergent) issues not known to marketer yet

Question 5

what are the conditions for establishing causality?

Answer 5

• Association (cause and effect must be correlated)
• Temporal precedence (cause precedes effect)
• Eliminating other causes

Question 6

what is post-test only?

Answer 6

Outcome measured only at the end

Question 7

what is Post-test only with covariates?

Answer 7

alternative explanations measured and statistically controlled as covariates

Question 8

what is pre-test and post-test?

Answer 8

outcome measured at beginning (brand liking and intent to purchase) and end (ad liking, brand liking, intent to purchase)

Question 9

what are threats to internal validity?

Answer 9

• history of events
• maturation
• instrument variation
• experimental mortality (loss of respondents)
• pre-measurement/interactive testing effect
• selection bias
• statistical regression

Question 10

what are threats to external validity?

Answer 10

• surrogate situation (not reality)
• questionable measurement of dependent variable
• measurement timing
• sample selection

Question 11

what is symbolic value?

Answer 11

when a product is connected to something

Question 12

what are the types of symbolic value?

Answer 12

• Emblematic
• Connectedness
• Role acquisition
• Expressiveness

Question 13

what is emblematic function?

Answer 13

used to signify membership to social groups
- ex: bikers and harley davidson

Question 14

what is connectedness function?

Answer 14

Connection to local/narrow external groups
- Family, friends, classmates, colleagues, product/brand communities
- Smaller groups and more personal contact with groups

Question 15

what is role acquisition function?

Answer 15

connection to a lifestyle
- ex: student lifestyle

Question 16

what is expressiveness function?

Answer 16

connection to one’s unique identity

Question 17

what are characteristics of special possessions?

Answer 17

• High willingness to pay
• Low willingness to sell
• Not discarded
• New uses
• Personified

Question 18

what are the 3 reasons to buy?

Answer 18

• functional/cognitive value
• affective value
• symbolic value

Question 19

what are the 3 stages of gift giving?

Answer 19

• gestation stage: when we consider what to give someone
• presentation stage: when we give the gift
• reformation stage: when we re-evaluate the relationship based on the gift giving experience

Question 20

Successful new products are at the intersection of 3 circles:

Answer 20

customer need, technology, and cost

Question 21

When innovation is incremental or an extension of “comparable” with other innovations:

Answer 21

forecast by analogy

Question 22

When innovation is radical, “nothing like it,” one-of-a kind, then use:

Answer 22

(Size of potential market) x (Likely market share)

Question 23

Describe different target segments at different stages of the PLC

Answer 23

• innovators (venturesome)
• early adopters (leaders)
• early majority (deliberate)
• late majority (skeptical)
• laggards (fear of debt)

Question 24

what is the effect on consumers of more information online?

Answer 24

• more attention to recommendations
• more choice of known brands
• more choice postponement