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Marketing > Chapter 7 > Flashcards

Chapter 7 Flashcards

1
Q

The process of defining a marketing problem and opportunity by systematically collecting and analyzing information and recommending actions is known as

A

Marketing Research

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2
Q

What are the seven types of marketing decisions?

A

Target Markets
Product
Place/Distribution
Promotion
Pricing
External Factors
Other

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3
Q
A
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4
Q

Which type of research looks at sales, market size, demand for product, customer characteristics, purchase behavior, customer satisfaction, and website traffic?

A

Target Market Research

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5
Q

Which type of research looks at product development, package protection, packaging awareness, brand name selection, brand recognition, brand preference, and product positioning?

A

Product Research

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6
Q

Which type of research looks at distributor interest, assessing shipping options, online shopping, and retail store site selection

A

Place/Distribution Research

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7
Q

Which type of research looks at advertising recall, advertising copy testing, sales promotion response rates, sales force compensation, traffic studies (outdoor ads), and public relations media placement?

A

Promotion Research

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8
Q

Which type of research looks at price elasticity analysis optimal price setting, and discount options

A

Pricing Research

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9
Q

Which type of research looks at a competitive analysis, legal environment, social trends, and cultural trends?

A

External Factors Research

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10
Q

Which type of research looks at company image and test marketing?

A

Other research

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11
Q

What are the two main goals of marketing?

A

Reduce Risk
Improve marketing decisions

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12
Q

What are the challenges involved with marketing research?

A
  • New products have never been used
  • Truthful answers (personal habits)
  • Intent versus purchase
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13
Q

Why is it important to write a market research brief?

A
  • Clarifies research needs
  • Ensures colleagues are on-board with ideas
  • this in turn helps an agency write better research proposals
  • and achieve business outcomes
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14
Q

What is involved in the background of a market research brief?

A
  • Describe problem you wish to solve
  • Answer what makes it useful
  • what makes it neccessary
    -explain why you are conducting this research
    -include relevant info and examples
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15
Q

What are some examples of business objectives for a market research brief?

A
  • Increasing sales
  • Attracting lapsed customers
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16
Q

What are some examples of project objectives for market research briefs?

A
  • explaining purpose of the project
  • explain expected outcomes
  • are we creating or innovating a new product
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17
Q

just read over slide 9 every time you see this card

A
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18
Q

What are the 5 steps in the marketing research approach leading to marketing actions?

A

Define the problem
Develop the research plan
Collect relevant information
Develop findings
Take marketing actions

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19
Q

What is the most important step of the marketing research approach?

A

Defining the problem

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20
Q

Situations calling for managers to make choices among decision alternatives are known as

A

Problems

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21
Q

Which step of the marketing research approach focuses on setting research objectives and identifying possible marketing actions?

A

Step 1: Defining the Problem

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22
Q

What are some examples of setting research objectives for step 1 of the marketing research approach?

A
  • Research objectives state what information to address a particular problem or issue
  • Have a clear research purpose
  • Identify possible marketing decisions
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23
Q
  • Setting research objectives
    -Identifying possible marketing actions
    are all actions that occur during which stage of the marketing research approach?
A

Step 1:Defining the Problem

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24
Q
  • Specifying constraints
  • Identifying data needed for marketing actions
  • Determining how to collect data
    are all actions that occur during which stage of the marketing research approach?
A

Step 2: Developing the research plan

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25
Q
  • Obtaining secondary data
  • Obtaining primary data
    are all actions that occur during which stage of the marketing research approach?
A

Step 3: Collect relevant information

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26
Q
  • Analyzing the data
  • Presenting the findings
    are all actions that occur during which stage of the marketing research approach?
A

Step 4: Developing Findings

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27
Q
  • Making action recommendations
  • Implementing action recommendations
  • Evaluating results
    are all actions that occur during which stage of the marketing research approach?
A

Step 5: Target Marketing Actions

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28
Q

come back to slide 12

A
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29
Q

The criteria or standards used in evaluating proposed solutions to the problem can be defined as

A

Measures of Success

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30
Q

What are possible marketing actions to help define the measures of success of a company?

A
  • By, introducing a new product
  • Continuing with an existing product line
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31
Q

The set of advance decisions to specify the methods and procedures for collecting and analyzing the needed information is known as

A

Research Design

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32
Q

What are the two ways used to determine how to collect data for marketing actions?

A

Concepts- ideas about products
Methods- approaches to collect data

33
Q

The restrictions placed on possible solutions that consist of time and money are known as

A

Constraints

34
Q

What term involves selecting representative elements from a population, collecting data from them and using it as representative of all those interest in is known as

A

Sampling

35
Q

What term involves drawing conclusions or generalizing the results from the data obtained from the sample taken to the larger population from which the sample is drawn is known as

A

Statistical Inference

36
Q

What type of data is collected prior to the start of the research project from external as well as internal data sources?

A

Secondary Data

37
Q

Data is collected prior to the start of the research project from external as well as internal data sources is known as?

A

Secondary Data

38
Q

Data that is collected to address specific research needs from sources such as focus groups, in-depth interviews,and surveys

A

Primary Data

39
Q

Facts and figures pertinent to the project can be defined as

A

Data

40
Q

Facts and figures already recorder prior to the project can be defined as

A

Secondary Data

41
Q

Facts and figures newly collected for the project can be defined as

A

Primary Data

42
Q

What type of data consists of:
- Inputs (budgets, financial statements, sales call reports)
-Outcomes (actual sales and customer communications)

A

Internal Data

43
Q

What type of data consists of:
US Census Reports
Trade Association Studies
Business Periodicals
Internet- Based Reports

A

External Data

44
Q

What type of data consists of:
Mechanical methods
Personal methods
Neuromarketing methods

A

Observational Data

45
Q

What type of data consists of:
Idea Generation methods
Idead evaluation methods

A

Questionnaire Data

46
Q

What type of data consists of:
Social Media
Panels and experiments
Information Tech
Data Mining

A

Other sources of data

47
Q

What are the two examples of secondary data?

A

Internal Data
External Data

48
Q

What are the three examples of primary data?

A

Observational Data
Questionnaire Data
Other sources

49
Q

What type of data is related to the effort expended to make sales through sales and advertising budgets, expenditures, and salespeople’s call reports

A

Marketing Input Data

50
Q

What type of data is related to the results of the marketing efforts used for records on shipments, sales and repeat sales, and communications from customers

A

Marketing Outcome Data

51
Q

slide 23?

A
52
Q

What term is available for a fee from commercial research firms about shifting brand preferences and product usage in households

A

Syndicated Panel

53
Q

What are the 3 examples from the power points of syndicated panels?

A

Nielsen Ratings
J.D. Power Survey
IRI InfoScan

54
Q

What are some examples of secondary data sources?

A

Census Bureau
Trade Associations
Universities
Business Periodicals

55
Q

What are some advantages to using secondary data?

A

Time Savings
Inexpensive

56
Q

What are some disadvantages of using secondary data?

A
  • Out of date
  • Definitions/Categories Not Right
  • Not specific enough
  • Sources could be biased
57
Q

The research involving collecting, analyzing, and interpreting data buy using open-ended questions, or observing what people do and say can be defined as

A

Qualitative Research

58
Q

Observation, in-depth interviews, and focus groups are all examples of

A

Qualitative Research

59
Q

Research involving the use of structured, close-ended questions in which response options have been predetermined and a large number of respondents involved can be defined as

A

Quantitative Research

60
Q

An experiment or survey is an example of what kind of research?

A

Quantitative Research

61
Q

What are the 4 examples of primary data?

A

Observations
Interviews
Survey Research
Experiments

62
Q

Examining how people actually behave either mechanically or in person can be defined as an

A

Observation

63
Q

Examining how people actually behave during a
- home visit
- mystery shopping experience
are examples of what type of primary data?

A

Observation

64
Q

The method that involves using a cap or glasses with dozens of sensors to measure brain waves to understand consumers better and their responses to nonconscious stimuli can be defined as

A

Neuromarketing

65
Q

Individual interviews seeking in-depth, open-ended responses that are expensive and time- consuming are known as

A

In-depth interviews

66
Q

Simultaneously interviewing a small group of people (8-12) in an informal group setting where the moderator guides the conversation seeking group interaction that is known as a

A

Focus group interview

67
Q

A systematic means of collecting information from people using a questionnaire that have faster response times and analysis are known as

A

Survey

68
Q

What is a disadvantage to using surveys as a search

A

Not many people complete surveys

69
Q

What term manipulates one or more variables to determine which variables have a casual effect on other variables is defined as

A

Experiment

70
Q

What are the benefits of obtaining data through social media?

A

Most current
Most accurate
Fast
Affordable

71
Q

What are the advantages of collecting relevant data?

A

Specific to the problem
More flexible
Can provide behavioral insight

72
Q

What are the disadvantages of collecting relevant data?

A

Expensive
Time Consuming to Collect

73
Q

What are some examples of analyzing data?

A
  • How are sales?
  • What factors contribute to sales trends
74
Q

The extraction of hidden
predictive info from large databases to find statistical links between consumer behavior and marketing
actions is known as

A

Data Mining

75
Q

T/F- Step 4 of the Market Research Approach is all about converting data into information to explain, predict, and/or evaluate a particular situation

A

True

76
Q

What are the 3 steps to taking marketing action?

A
  • Make Action Recommendations
  • Implement the action recommendations
  • Evaluate the results
    - The decision itself
    - The decision process used
77
Q
A
78
Q

What are two key elements in deciding how to collect data for marketing research?

A

Methods
Concepts

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