5 marketing intelligence

Question 1

what is marketing research

Answer 1

process of planning, collecting and analyzing data for marketing decisions

Question 2

marketing intelligecne

Answer 2

a broader term than research intended to capture all of the active and passive ways that we gain data and insights within an organization to drive decision making

Question 3

what is the importance or marketing research and intelligence?

Answer 3

-improve the quality of decison making identify teh problems and soures
focus on growing the customer franchise by reseearching new customers and keeping existent ones
understand teh changes in the market place

Question 4

conjoint analysis

Answer 4

a research tool that estimates how subjects set priorities or make trade offs among different attributes of a pdt or service

Question 5

empathetic design

Answer 5

qualitative research that makes use of observation, particularly observations of people using a product or struggling with routine activities at home or work

Question 6

experimental research

Answer 6

research that manipulates the environment and then. measures the effect
-seeks casual relationships

Question 7

field experiment

Answer 7

experimental research conducted outside a lab setting

Question 8

non-experimental research

Answer 8

qualitative or quantitative research that aims ti answer questions about market size, customer preference and trade off behavior without introducing any manipulation of an environment

Question 9

perceptual mapping

Answer 9

a research method whose output is an image representing customer perceptions of one companys offerings relative to those of competitors

Question 10

qualitative data research

Answer 10

research that generates information that is not amendable to numerical measurement or stat analysis

Question 11

quanatitive data research

Answer 11

collects numeric data, generally through sample surveys that can be used for measurement and stat analysis

Question 12

test market

Answer 12

a field experiment in which for example, researchers place a new product in one or more stores, promote purchasing and then observe customer resopnses

Question 13

treatment

Answer 13

manipulated variable in experimental research

Question 14

what are the three roles of marketing research?

Answer 14

descrpitive
diagnostic
predictive

Question 15

descriptive

Answer 15

gathering and presenting factual statements (what)
-descries what is actually happening and het it from our data

Question 16

diagnostic

Answer 16

-explains why
-data is talked about in a corelative way
-in a marketing analysis we can get enough certinity to help us make marketing deciiosns about understanding the correlation between why and what is happening

Question 17

predictive

Answer 17

estimating what could happen

Question 18

marketing research process 5 steps

Answer 18

formulate the problem
determine teh source of information and design a research process
choose the most appropriate data collection method
collect the data
analyze and interpret the data
make a decision (does not guarantee it will happen)

Question 19

what are the type of research problems related to understanding the customer market?

Answer 19

-(How): understanding consumer. behavior
-demands forecasting :estimating future demand
-segmentation: who are the potential buyers of our product

Question 20

what are the type of research problems related to creating the marketing mix?

Answer 20

-ads/emails :To identify the most impactful communication channel to optimize the effectiveness of advertising and email marketing efforts.
-product testing: To assess consumer preferences and reactions to pdt designs

Question 21

what are the types of research problems related to product and brand performance

Answer 21

maket tracing: To assess the relative market position of a product or brand by measuring its market share. This helps in understanding the brand’s competitiveness and identifying opportunities for growth
-customer satisfaction
(NPS): assess customer loyalty and gauge the likelihood of customers becoming advocates

Question 22

two types of data?

Answer 22

secondary and primary

Question 23

what are the two types of secondary data ?

Answer 23

internal and external

Question 24

what are the two types of primary data?in process? location? oreination?

Answer 24

-process: experimental and non-experimental
-location : lab or field
-orientation: quantitative or qualitative

Question 25

probability samples

Answer 25

sample in which every element in the population has a statistically likelhood of being choosen

Question 26

random sample

Answer 26

a type of probability sample arranged so that every element of the population has an EQUAL chance of being selected
-improves reliability

Question 27

non probability samples

Answer 27

any sample in which little or no attempt is made to get a representative cross section of the population

Question 28

convience sample

Answer 28

-non probability sample using respondents who are convient or readily accessable

Question 29

what are the three types of errors?

Answer 29

measurement
sampling
random

Question 30

measurement error?

Answer 30

difference between info desired and the infomration provided by research (porblem with reseach instrument)

Question 31

sampling error?

Answer 31

sample does not represent target pop

Question 32

random error

Answer 32

an error that exists from a source that is not identifiable

Question 33

what are quantitative survey designs

Answer 33

close ended questions - make a selction from limited responses
dichotomus question - two reponses like yes or no
multiple choice
scaled response - close ended designed to measure intensity of a respondents answer

Question 34

conjoint analysis

Answer 34

research tool that estimates how subjects set priorities or make trade offs among attributes of a product or service
-how customers understand percieve value

Question 35

perceptual mapping

Answer 35

visual representation of how customers percieve different brands of products
-shows how closely or far related products are
do it quantitatively or qualitatively

Question 36

are surveys good or bad?

Answer 36

bad