Chapter 2: Marketing Information, Research, and Understanding the Target Market Flashcards
Experimental Research
Involves manipulating one variable and examining its impact on other variables.
Focus Groups
A type of qualitative research that typically involves discussions among a small number of consumers led by an interviewer and designed to generate insights and ideas about products and brands.
Long Interviews
A type of qualitative research conducted by an interviewer with a single respondent for several hours and designed to find out such things as the meanings various products and brands have for the person or how a product influences the person’s life.
Marketing Research
The process by which information about the environment is generated, analyzed, and interpreted for use in marketing decision making. Most often consumers or organizational buyers are the subject of the research.
Mathematical Modeling
Involves developing equations to model relationships among variables to investigate the impact of various strategies and tactics on sales and brand choices.
Observational Research
Involves watching people and recording relevant facts and behaviors.
Primary Data
Data collected specifically for the research problem under investigation.
Qualitative Research
Typically involves face-to-face interviews with respondents designed to develop a better understanding of what they think and feel concerning a research topic, such as a brand name, a product, a package, or an advertisement.
Quantitative Research
Involves systematic procedures designed to obtain and analyze numerical data.
Secondary Data
Data that have previously been collected for other purposes but can be used for the problem at hand.
Survey Research
Involves the collection of data by means of a questionnaire either by mail, phone, online, or in person.
Test Marketing
The major goal of most test marketing is to measure new product sales on a limited basis where competitive retaliation and other factors are allowed to operate freely. In this way, future sales potential can often be estimated reasonably well.
