CH 1 INTRO Flashcards
FUNDAMENTAL RESESEARCH
SEEKS TO ENEND THE BOUNDARIES OF KNOWLEDGE IN A GIVEN AREA AND DOESN’T NECESSARILY SOLVE YOUR IMMEDIATE PROBLEMS
APLIED RESEARCH
GATHERS INFORMATION TO SOLVE A SPECIFIC PROBLEM OR SET OF PROBLEMS. YOU USE THIS INFORMATION OT TUNE UOUR BUSINESS PLANM FOCUS YOUR ADVERTISING CAMPAIGN, OR IMPROVE UYOUR PRODUCT
MARKETING RESEARCH FOCUSES ON UNDERSTANDING THE ___, THE ____, AND THE ____
CUSTOMER, CMPANY, AND COMPETITION
WHAT INFLUENCES MKTG RESEARCH
INFLUENCED BY COMPETITORS AND HOW THIR PRODUCTS ARE RECIEVED BY YOUR MARKET. THIUS YOU MUST CLEARLY IDENTIFY THE CUSTOMER, COMPANY, AND COMPETITION BEFORE DEVELOPING A RESEARCH PROJECT.
FACTORS TO CONSIDER BEFORE BEGINNING RESEARCH
CUST AMD COMP, AWARENESS AND IMAGE OF PRODUCT, PRODUCT USAGE, UNDIAGNOSED PROBLEMS WITH YOUT PRODUCT, CUST DESIRES AND NEEDS FOR NEW PRODUCT
T1 MKTG SURVEY: MARKET DESCRIPTINO SURVEYS
DETERMINE THE SIZE AND RELATIVE MARKET SHARE OF THE MARKET,. PROVIDE KEY INFO ABT MARKET GROWTH, COMP POSITIONING, AND SHARE OF MARKET
T2 MKTG SURVEY: MKTG PROILING SEGMENTATION SURVEYS
IDENTIFY CUST AND NON CUSTS, AND WHY THEY ARE OR ARE NOT YOUR CUST. OFTEN A DESCRIPTIVE MKTG SEGMENTATION AND MARKET SHARE ANALYSIS
T3 MKTG SURVEY: STAGE IN THE PURCHASE PROCESS/TRACK SURVEYS
WHERE IS THE CUST IN THE ADOPTION PROCESS? SHOWS MKTG AWARENESS, KNOWLEDGE, INTENTION, TRIAL, PURCHASE, REPURCHASE OF THE PRODUCT
T4 MKTG SURVEY: CUST INTENTION - PURCHASE ANALYSIS SURVEYS
CUST MOTIVATION TO MOVE FROM INTEREST IN THE PRODUCT TO ACTUAL PURCHASE. KEY TO UNDERSTANDING CUST CONVERSION, COMMITMENT, AND LOYALTY
T5 MKTG SURVEY: CUST ATTITUDES AND EXPECTATIONS SURVEY
DOES THE PRODUCT MEET CUST EXPECTATIONS? ATTITUDES FORMED ABOUT THE PRODUCT AND/OR COMP. IMPROVE ADS, CUST CONVERSION, COMMITMENT, AND LOYALTY
T6 MKTG SURVEY: CUST TRUST - LOYALTY - RETENTION ANALYSIS SURVEY
DEPTH OF CONSUMER ATTITUDES FORMED ABOUT THE PRODUCT AND/OR COMP. ESP FOR HIGH PRICED CONSUMER GOODFS WITH LONG DECISION AND PURCHASE PROCESSES
T7 MKTG SURVEY: NEW PRODUCT CONCEPT ANALYSIS SURVEY
APPR IN THE INITIAL SCREENING OF NEW PRODUCT CONCEPTS. LIKES AND DISLIKES, ACCEPTABILITY AND LIKELIHOOD OF PURCHASE ARE ESP USEFUL MEASURES
T8 MKTG SURVEY: NEW PRODUCT ACCEPTANCE AND DEMAND SURVEYS (COJOINT ANALYSIS)
EST DEMAND FOR NEW PRODUCT DESCRIPTIONS, GRAPHICS, OR PROTOTYPES
T9 MKTG SURVEY: HABITS AND USES SURVEYS
UNDERSTANDING USAGE SITUATIONS, INCLUDING HOW, WHEN AND WHERE THE PRODUCT IS USED. MAY INCLUDE A REAL OR VIRTUAL AUDIT
T10 MKTG SURVEY: PRODUCT FULFILLMENT SURVEY
EVALUATION OF PROMISED ATTRIBUTES AND FEATURES BENEFITS (BOTH TANGIBLE AND INTANGIBLE) ARE EXPECTATIONS PRODUCED BY ADVERTISING, PACKAGING, AND PRODUCT APPEARANCE FULFILLED?
T11 MKTG SURVEY: COMP PRODUCT AND MARKET POSITIONING
“BEST PRACTICES” STUDY OF :HOW DOES THE MARKET VIEW US RELATIVE TO THE COMP?” COMPARES ATTRIBUTES OF THE PRODUCT
T12 MKTG SURVEY: BRAND EQUITY SURVEYS
WHAT IS THE PSYCH VALUE THAT A BRAND HOLDS IN THE MKTGPLACE? A COMPOSITE OF BRAND AWARENESS, BRAND EQUITY, BRAND ASSOCIATIONS, AND BRAND LOYALTY MEASURES
T13 MKTG SURVEY: ADVERTISING VALUE IDENTIFICATION AND ANALYSIS
MAPPING THE HIERARCHICAL ATTRIBUTES, BENEFITS AND VALUES ASSOCIATED WITH AND PORTRAYED BY AN ADVERTISEMENT. MEANS-END ANALYSIS IS OFTE PART OF THIS TYPE OF STUDY
T14 MKTG SURVEY: ADVERTISING MEDIA AND MESSAGE EFFECTIVENESS
IDENTIFIES THE IMPRESSIONS, FEELINGS, AND EFFECTIVENESS IN MOVING THE RESPONDENT TO A DESIRED GOAL (INCREASED AWARENESS, PRODUCT INFO, TRIAL, REPEAT PURCHASE)
T15 MKTG SURVEY: SALES FORCE EFFECTIVENESS
SALES ACTIVITIES, PERFORMANCE, AND EFFECTIVENESS IN PRODUCING THE DESIRED AND MEASURABLE EFFECT OR GOAL. OFTEN MEASURED IN A 360DEGREE SURVEY COMPLETED BY THE SALES PERSON, THE CLIENT (EVALUATING THE SALES CALL) AND THE SUPERVISOR RESPONSIBLE FOR EVALUATING THE SALES PERSON
T16 MKTG SURVEY: SAKES LEAD GENERATION
- TIMELY USE DN FOLLOW UP SALES LEADS
- QUALIFYING SALES LEADS (THEREBY SAVING VALUABLE SALES FORCE TIME
- PROVIDING MORE EFFECTIVE TRACKING OD SALES LEADS
T17 MKTG SURVEY: CUSTOMER SERVICE
FOCUSES IN DETAIL ON THE ACTUAL CUSTOMER SERVICE THAT WAS RECEIVED, THE PROCESS INFOLVED IN RECEIVING THAT SERVICE, AND THE EVALUATION OF THE PARTICIPANTS IN THE SERVICE PROCESS
T18 MKTG SURVEY: CUSTOMER SERVICE REPRESENTATIVE (CSR) SURVEY - ATTITUDES, BURNOUT, TURNOVER, AND RETENTION
CUSTOMER SERVICE REPS HOLD ATTITUDES THAT REFLECT ON THEIR JOB RELATED ACTIVITIES INCLUDING (1) THE ALLOCATION OF TIME (2) SOLUTIONS TO CUST NEEDS (3) HOW TO IMPROVE THEIR JOB (4) BEST PRACTICES (5) HOW WELL INTERNAL DEPARTMENTS HELP CUST. FUCES ON REDUCING COSTS AND INCREASING THE QUALITY OF CUST RELATIONSHIPS
T19 MKTG SURVEY: SALES FORECASTING AND MARKET TRACKING SURVEYS
EXPERTS ESTIMATES OF THE MARKET, JUDGEMENT BOOTSTRAPPING (EXPERTS BASED RULES DESCRIBING HOW TO USE AVAILABLE SECONDARY MARKET INFO), COJOINT ANALYSIS (ESTIMATION OF CONSUMER CHOICE PREFER ENCES), AND SELF REPORTED INTENTIONS TO MAKE FUUTRE PURCHASES
T20 MKTG SURVEY: PRIE SETTING SURVEYS AND ELASTICITY OF DEMAND ANALYSIS
ESTIMATES OF DEMAND ELASTICITY, OPTIMAL PRICE POINTS, AND PRICE TOO LOW OR TOO HIGH. ESTIMATES FOR DIFFERENT PRODUCT SERVICE SEGMENTS OR USAGE SITUATIONS
RESEARCH PROCESS STAGE
- PROBLEM FORMULATION
- COST VALUE ANALYSIS
- METHOD OF INQUIRY
- RESEARCH DESIGN
- DATA COLLECTION DESIGN
- PLANNING AND SURVEY DESIGN
- DATA COLLECTION
- ANALYZING/INTERPRETING DATA
- RESEARCH REPORT
STAGE 1: FORMULATING THE PROBLEM
IN MANY WAYS, RESEARCH STARTS WITH A PROBLEM THAT MANAGEMENT IS FACING. management problems focuses on an action whereas research problems focuses on providing the information you need in order to solve the mangement problem
6 BASIC RESEARCH ISSUES: (1) ASKING THE RIGHT QUESTIONS
THIS IS THE ESSENCE OF THE PROJECT DESIGN AND THE HEART OF PROPER PLANNING. EVERY PORJECT IS UNIQUE, NAD AS SUCH, MUST BE TAILORED TO THE USERS’ NEEDS
6 BASIC RESEARCH ISSUES: (2) ASK THE RIGHT PEOPLE
THE GOAL OF SAMPLE DESIGN SHOULD BE THE ONLY THOSE PEOPLE WHO ARE OF INTERST TO THE RESEARCHER ARE CONTRACTED, ADN THOSE CONTRACTED ARE REPRESENTATIVE OF THE GROUP OF INTEREST
6 BASIC RESEARCH ISSUES: (3) ASK QUESTIONS THE RIGHT WAY
IT IS NOT ENOGUH TO BE ABLE TO ASK THE RIGHT QUESTIONS, THEY MUST E ASKED THE RIGHT WAY. IF THE WORDING OF THE QUESTION IS NOT CLEAR TO THE RESPONDENTS, THE RESULTS WILL BE USELESS. PRETESTING THE QUESTIONNAIRE IS CRUCIAL FOR ENSURING THAT THE RESPONSES ARE THE ONES NEEDED
6 BASIC RESEARCH ISSUES: (4) OBTAIN ANSWERS TO QUESTIONS
DATA COLLECTED IS CENTRAL TO ALL MARKETING RESEARCH. THE TECHNIQUE USED SHOULD MINIMIZE NONRESPONSE WHILE MAXIMIZING RESPONSE
6 BASIC RESEARCH ISSUES: (5) RELATE ANSWERS TO THE NEED OF THE RESEARCH UNER/CLIENT
DATA SELDOM SPEAKS FOR ITSELF.COMMON SENSE IS A VALUABLE TOOL FOR THE RESEARCHER WHEN CONSIDERING ALT ANALYSIS APPROACHES FOR ANY PROJECT
