Ch 8-- Marketing Research Flashcards
What is MIS?
Market Information System
Database w. continuous information of a company operations + external environment
INTERNAL reports: sales reports
What is formal market research?
Project SPECIFIC, done sporadically, from time 2 time when there is a need for it
Systematic gathering of data in the search scanning mode
ENTIRELY from EXTERNAL sources
What is the most difficult and yet the most important step in market research?
Step 1: definition of the problem
(why are sales down?)
What is an dependent variable in a market research hypothesis?
One we want to measure
(ex: sales)
DEPENDS on the independent
(sales DEPENDS on prices)
What is an independent variable in a market research hypothesis?
Affects the dependent
(ex: prices, distribution)
What is a focus group? What is its main function in market research?
small group of 8-10 ppl brought together for market purpose at you CONVENIENCE
- purpose of the group is to investigate potential areas of future inquiry ( where we should look) can be used to formulate hypotheses
What kind of a sample is a focus group? What statistical conclusions can you infer from the opinions of a focus group?
CONVENIENCE sample
CAN’T infer from the opinions of a focus group bc it’s not a random sample
After you determine the costs of doing the research, what should be your next decision?
Develop a research plan
- Use info to conduct a cost benefit analysis
- is it worth the $ ?
- What would happen if we don’t do the research
How does the methodology differ in international market research from domestic market research?
Global is more COMPLEX
- lack of reliable secondary data
- $$ + complexity in collecting primary
- need for coordination of research
How much secondary data is available overseas as compared to the U.S.?
very little
For many countries, only periodic essential info
How reliable is overseas secondary data as compared to the U.S.?
May not be reliable
- official gov often overstate + are optimistic/ lie bc of politics
- tax avoidance results in false sales + volume reports
What are some of the issues you should take into consideration when comparing secondary data from one country with data from another country?
Great variation from one country to another
- consider time bases (time intervals differ)
- category breakdowns
- dates of studies
- methodology
MUST ask: who collected the data + for what? When/how, expected accuracy + consistency w other sources
How do you use “back translation” when developing a questionnaire for foreign use?
translate one way then translate back to original language make sure everything is clear, makes sense, and captures message
- pay attention to low literacy rates, dialects + have local researchers help
How do social organizations and values in foreign countries affect collection of primary data?
need to know who is decision ma Ker in family (hard w. extended)
role of women affects practicality of interviewing
getting responses might be difficult
What is measurement error?
people lie
