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Principles of Marketing > Chap 10 > Flashcards

Chap 10 Flashcards

1
Q

What is marketing research?

A

collecting and using information for marketing decision making

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2
Q

Who conducts marketing research?

A

Syndicated services
Full-Service research suppliers
Limited-service research suppliers

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3
Q

Syndicated services

A

organization that provides standardized data on a PERIODIC BASIS TO ITS SUBSCRIBERS

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4
Q

Full service research suppliers

A

marketing research organization that OFFERS ALL ASPECTS of the marketing research process

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5
Q

Limited service research suppliers

A

firm that specializes in a LIMITED NUMBER OF ACTIVITIES such as conducting field interviews or performing data processing

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6
Q

What is the marketing research process?

A
  1. Define Problem
  2. Conduct exploratory research
  3. Formulating a hypothesis
  4. Creating a research design
  5. Collecting data (primary and secondary data)
  6. Interpreting and presenting the research information
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7
Q

What is a logical starting point in identifying the problem ?

A

Evaluate the firms’ target market and marketing mix elements.

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8
Q

What gets confused when defining the problem?

A

Symptoms vs. Problems

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9
Q

4P

A

Price
Place
Product
Promotion

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10
Q

What is involved in exploratory research?

A
  • discover the cause of a specific problem
  • process of talking about problem with informed sources both within and outside the firm and examining info from secondary sources
  • informal investigation: talking to informed people outside the researchers’ firm
  • using internal data
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11
Q

What is involved in sales analysis?

A

compare expected sales with actual sales and analyzed in a variety of ways such as:
by customer type and sales method

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12
Q

What is the hypothesis?

A

a tentative explanation for some specific event

Statement about the relationship among variables that carries clear implication for testing this relationship.

Variables: how does one thing effect another?
i.e. Ad —-> brand recognition

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13
Q

What is research design?

A

a master plan or model for conducting research

What to measure?
What is implication of research?
Who will be chosen for respondents?

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14
Q

What is primary data?

A

information collected for the first time for a specific investigation

Expensive, time consuming but results can provide more detailed info.

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15
Q

What is secondary data?

A

Information from previously published or compiled sources

less expensive and time consuming, can become obsolete, may not be relevant

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16
Q

What is involved with interpreting and presenting research data?

A
  • Present findings in a format that is understandable to make effective judgments (clear and concise)
  • Direct their reports toward management and not other researchers (to the people who need to make the changes not other researchers)
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17
Q

Where does secondary data come from?

A

internal data: sales records, product performance reviews

external data - government records, syndicated research services

18
Q

What is the nation’s most important source of marketing data?

A

government data

census data provides the most frequently used government stats

19
Q

Where does private data come from?

A
  • trade associations
  • business and trade magazines
  • electronic systems
  • radio-frequency identification technology
20
Q

What are some sources for online secondary data?

A
  • online databases
  • research aggregators
  • social networking sites
  • computers cookies
21
Q

What is sampling?

A

process of selecting survey respondents or research participants

22
Q

What is the total group of people a researcher wants to study?

A

Population (universe)

23
Q

What is a simple random sample?

A

Sample in which every individual in the relevant universe has an equal opportunity to be sampled.

24
Q

What is an convenience sample?

A

sample selected from among readily available respondents

i.e. college kids in class taking a survey about the college

25
Q

What is a quota sample?

A

a population as a whole that has a large proportion of certain characteristics among different segments

26
Q

What are three types of primary research?

A

Observation
Surveys
Centralized Experiments

27
Q

How does the observation method work?

A

researchers view the overt actions of subjects being studied

28
Q

What is interpretative research?

A

a researcher observes a customer or group of customers in their natural setting and interprets their behavior based on an understanding of the social and cultural characteristics of that setting

29
Q

What are possible survey methods?

A

TELEPHONE INTERVIEW

  • quick and inexpensive
  • people hate it
  • not viable in international markets where telephone ownership is rare

PERSONAL INTERVIEWS
- mall intercepts

FOCUS GROUP

  • small group discussing one topic
  • sometimes has lack of honesty due to peer pressure

MAIL SURVEY

  • cost effective and provides anonymity
  • low response rate
  • time consuming

ONLINE SURVEYS

  • increase the speed of survey process
  • increase sample sizes
  • reduce costs
30
Q

What are different types of experimental methods?

A

Controlled experiment
Test marketing
(least used method)

31
Q

What is a controlled experiment?

A

scientific investigation in which a researcher manipulates a test group and compares the results with those of a control group

32
Q

What is test marketing?

A

introducing a new product in a specific area and then observing its degree of success

  • can be expensive
  • competitors can learn about new products quickly
33
Q

How does a researcher conduct international marketing?

A
  • Follow same basic steps as for domestic marketing research
  • Be aware of cultural and legal environments
  • May have to adapt research methods to local conditions
34
Q

What is data mining?

A

?

35
Q

An organization that regularly provides a standardized set of data on a periodic basis to its subscribers is called a _______?

A

syndicated service

36
Q

The process of discussing a marketing problem with informed sources both within and outside the firm and examining information from secondary sources is known as _____.

A

exploratory research

37
Q

Which of the following is a limitation of secondary data not found in primary data?

A

It may not be completely relevant to the specific needs of the marketer

38
Q

EXTRA CREDIT: Pros/Cons of Various Forecasting Techniques

A

Table 10.2

39
Q

What is qualitative forecasting?

A

the use of Subjective techniques to forecast sales

40
Q

What is quantitative forecasting?

A

the use of Statistical forecasting techniques

Principles of Marketing (13 decks)

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