EXAM 1 Flashcards
(56 cards)
What is Marketing Research?
uses systematic approaches to gather appropriate information to answer a specific marketing question
Why marketing research is conducted?
to reduce the risk in making business decisions
When marketing research should be conducted?
- high risk business decisions
- when costs does not exceed estimated benefit of decision
- time allotted is proper for research methods
Who will conduct marketing research?
- in house staffs
- external research firms
A MIX OF THEM
Differentiate different types of research from four angles, including
1) questions specificity
2) information availability
3) information countability
4) information ambiguity
1) basic research/applied research (expanding knowledge/solve specific problems)
2) secondary/primary research
3) quantitative/qualitative
4) scale <–> Complete ambiguity, Uncertainty, Complete certainty
Information Ambiguity
Complete ambiguity - to clarify a question that in the present leads to ambiguous answers
Descriptive - describes characteristics, attitudes/opinions held by a market, a market phenomenon
Casual - to determine in one variable impacts changes in another variable
What are steps in marketing research processes?
1) research objective
2) research design
3) sampling
4) data collection
5) data analysis
6) conclusions & reporting
Propose a research objective
a broad question or statement declaring purpose of conducting research, basis of guiding a marketing project
Research methodologies
1) Focus group (qualitative/primary)
2) Interviews (qualitative/primary/b2b research/examining interactions)
3) observation (primary qualitative/consumer decision making process)
4) Mystery shopping (primary/qualitative/shows how well company protocol compliance is followed)
5) Surveys (primary/quantitative/results attributed to a larger pop.)
6) secondary data research (secondary/quantitative or qualitative/monitors competitors and market trends)
7) experiments (primary/quantitative/tests causes solutions or interventions)
Define secondary research
use of existing data to derive insights used when information is needed quickly and to validate findings from primary research
- two kinds: internal (owned by orgs, previous findings) and external (data from outside orgs - gov/academic)
Identify sources of secondary data
Internal:
Customer generated data
database info
previous research results
previous campaign results
previous website data
External:
public lib
competitive research
journals
gov. data
newspaper
Identify advantages and disadvantages of secondary research
Advantages:
easily and readily available data
faster research time
low financial and time cost
ability to scale up results
Disadvantages
not specific
outdated
lack of control
verification and interpretation
limited scope
non-exclusivity
What is a focus group?
- moderator led discussions targeting consumers or stakeholders
Identify when to use focus group
- to generate ideas
- understand consumer vocabulary
- reveal consumer motives/perceptions/attitudes
- understand findings from quantitative studies
Identify key components in focus group and understand how to select/create each
component
- participants (select 6-12 ppl in dedicated room w one way mirror)
- moderator (creates correct atmosphere and guides discussion)
- moderators guide (predesigned discussion guide used to facilitate activities)
What is observation?
primary research studies involving observing consumers interacting with products, service or venue
Identify pros and cons of observation
Pros
- alleviate respondent bias
- provides unique insight into behaviors
Cons
- examines how not why
- observers can bias results
- sampling limitations
Identify types of observation
1) unobtrusive
2) visible (obtrusive)
Identify what can be observed
1) direct - conducted in authentic situations (natural)
2) contrived - researchers create artificial environments under controlled conditions
What is a mystery shopper?
researcher posing as a consumer to collect data
Identify various types of questions in qualitative research
1) main open ended questions - evoke more than yes or no, start a discussion (what comes to mind/think about a time…)
2) follow up question - provide further details, expand on answers, seek details (you mentioned)
3) probing question - want to provide more, clarify responses that lead to next question (please explain…)
What is a screener?
screens out people who don’t meet the research criteria
Understand what a codebook is
describes the contents, structure, and layout of a data collection
Understand how to develop codebook for closed-ended questions in a given
research scenario
EX: what is your gender A) female b) male C) prefer not to say… Codebook = 1- female 2-male 3-prefer not to say
