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Marketing 317 Foundations of Marketing > Ch. 3 Research > Flashcards

Ch. 3 Research Flashcards

1
Q

INBOUND COMMUNICATION

In inbound communication what is market information?

A

The ability to assess opportunities & threats

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2
Q

What are microenvironmental opportunities/ threats

A

1) Unserved markets, market growth
2) Changes in customers wants and needs, decision making process, motivation, involvement strategy
3) competitors strategy

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3
Q

What are macroenviromental opportunities & threats

A

1) New technology
2) Cultural shifts
3) Legislative change
4) Foreign investment

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4
Q

What is the utility of market research?

A

To reduce uncertainty in marketing decision making

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5
Q

What is the scientific/marketing research problem (4)

A

1) Determining the Research Problem
2) Development of Research Design
3) Execute the Research Design
4) Conclusion

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6
Q

In the marketing research problem, describe the problem (2)

A

1) Inbound communication is rarely passive

2) Requires scientific foundations to ensure accuracy and generalizability

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7
Q

What is a great strategy to reduce uncertainty while conducting a research problem?

A

A restatement of marketing problem in terms
1) Awareness
2)Preference
3) Attitudes
of the product you’re investigating. This heps you discover MOTIVES

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8
Q

What is a problem with research problems?

A

The manner which people ask can be aggressive and biased answers may emerge. Anonymity allows for better polling. Use language that highlights

1) Awarness
2) Preference
3) Attitudes

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9
Q

How to develop a research design

A

1) Information sources -2
2) Use existing data (2) first
3) If it does not work use New
4) With new aim at using observational since it’s more accurate and less bias

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10
Q

How many informational sources do we have (2)

A

1) Existing

2) New

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11
Q

Elaborate on Existing information (2)

A

1) Literature
a) Academic
b) Trade
c) other
2) Data
a) Internal
b) External

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12
Q

Elaborate on New information/ data collection (2)

A

1) Observation
a) Overt
b) Covert
c) Participative

2) Communication
a) exploratory
b) Descriptive
c) casual

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13
Q

Existing Information

Literature research define

A

To learn from others, to demonstrate familiarity with a body of knowledge and establish credibility

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14
Q

Existing Information

name the 3 sources of literature

A

1) Academic
2) Trade Association press
3) Other reputable sources

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15
Q

Existing Information

Secondary data define

A

Existing prior to formulating current research objective

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16
Q 
Existing Information
Secondary Data (2)
A

1) Sources (internal/external)
2) Data integrity (fake news)

internal - sales,inventory production

external - Government/ financial databases/ clickstream

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17
Q

Data Collection

Observation define

A

You observe people in natural settings or in naturally occurring situations

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18
Q

Data Collection

Name the Pros/Cons of observation

A

Pros- Objective, current behaviour

Cons- no control over data gathering, no understanding of motives

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19
Q

Data Collection

Name the observation methods (3)

A

1) Overt
2) Covert
3) participative

20
Q

Define Overt

A

An investigation of behaviours where the respondents are aware of the task and the research known

21
Q

Define Covert

A

A study where participative are unaware that their behaviour is being observed and/ or recorded

22
Q

Define Participatve

A

A study where the research interacts with the respondent and manipulates the environment as the study progresses

23
Q

Data Collection

Communication Define

A

To interact (in-person or remotely) with people for the purpose of recording attitudes and behaviours

24
Q

Data Collection

Communication pros and cons

A

pros- versatile, ability to record attitudes and motivations

cons - subjective, random error

25
Q 
Data Collection
Communication Methods (3)
A

1) Exploratory
2) Casual
3) Descriptive

26
Q

Data Collection
Communication Methods
Define Exploratory

A

Small sample studies for discovery of ideas and insight

  • qualitative analysis, cannot represent population
  • focus group
27
Q

Data Collection
Communication Methods
Define Casual

A

An investigation to identify cause-effect relationship
Quantitative analysis - cannot represent population
-field experiments

28
Q

Data Collection
Communication Methods
Define Descriptive

A

Large sample studies to describe the characteristics of a population

  • Quantitative analysis
  • Survey research
29
Q

What is the purpose of Exploratory research?

A

1) To clarify the business/research problem

2) To provide preliminary insight into the motivational, emotional, attitudinal and personal factors affecting behaviour

30
Q

Qualitative Analysis

A

1) characterized as textual, visual, or oral responses
2) Focus on meaningful characterizations, interpretations and expressive descriptions

YOU WANT TO FIND MORE. YOU CAN GAUGE ATTITUDES FROM THEM (not representative thought)

31
Q

Common methods to exploratory research

A

executive interview

1) One-on-one probing between a trained interviewer and a responded
2) elaborate on attitudes and behaviours

32
Q

Focus groups

A

Small group discussion; led by a trained moderator; observed unobtrusively by a client
-rationalization of attitudes and behaviours

33
Q

What is the purpose of Casual Research

A

1) To identify cause and effect relationships among variables
2) To test hypotheses regarding the direction and strenght of influence

34
Q

Quantitative analysis

A

Statisical relationship (correlation) among variables

35
Q

Quantitative analysis - Name the common methods

A

1) Manipulation of independent variables
2) Selection and measurement of a dependent variable
3) Treatment and control group
4) Control over extraneous variables

36
Q

What is the purpose of descriptive research?

A

1) To describe the characteristics of a population phenomenon
2) Analysis to answer who,what,when, where and how
3) Empirical assessments for forecasting and prediction

37
Q

Descriptive research - Quantitative analysis

A

1) Data characterized by assigning numbers in an ordered and meaningful way
2) Analysis of situations and events that involve numerical measurements

38
Q

Decriptive research common method

A

Survey research

  • Designed to extract specific data from a population of interest
  • Conducted in-person, or via phone, mail, or internet
  • Metric based on sorting tasks, rank ordering, rating scales and or choice.
39
Q

SURVEY RESEARCH

A
  • The use of standardized questionnaires to capture attitudinal, behaviours and demographic data from pre-determined population
  • more art than science
40
Q

What are the necessary conditions for survey research

A

1) Population has to be defined correctly
2) Sample is representative of the population
3) Respondents have the knowledge, opinion, attitudes or facts required
4) Respondent are available, willing and able to respond
5) Questions are clear and understanble
6) Questions are unbiased
7) wording

41
Q

Response Forms (2)

A

1) Open ended - participants replied in their own words

2) Closed-ended - finite responses

42
Q

Response Forms

Closed-ended (3)

A 
1) Categorical Response
   Nominal Scale - lots of choices
2)Categorical Response
    Ordinal scale- from strongly disagree to storngly agree
3) Continous Response
  Equal interval scale - 1-5
43
Q

Sampling Concepts

A

1) Population- a complete group with a specific characteristic
2) Sameple Frame - A list of elements of the population from which the sample may be drawn
3) Sample units- a single element subject to selection

44
Q

Sampling plans (2)

A

1) Probability- A sample plan where the prbability of any single element being chosen is known and NOT ZERO. Allows for simple random sampling
2)Non-probability- A sample plan where the probability of any single element is not known. sample error, unknown.
convenience sampling

45
Q

Data Analysis (3)

A

1) Univariate analysis - analysis of a single variable in isolation
2) Bivariate analysis - analysis of the relationship between exactly two varibales
3) Multivariate analysis- simultaneous analysis of multiple measures on a single depended variable

46
Q

Conclusion

A

1) Marketing Problem ( 5p’s)
2) Research problem
3) Research Program
4) Research conclusion
5) Implementation

Marketing 317 Foundations of Marketing (3 decks)

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