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MKT 352 Market Research > Exam 1 > Flashcards

Exam 1 Flashcards

1
Q

Why does marketing research matter?

A

provides info on consumers’ needs/wants, competitors

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2
Q

What is marketing research?

A

inform marketing processes

gathering, analyzing, and interpreting data about consumers to make decisions

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3
Q

When do we NOT need to research?

A

When there isn’t enough time
Limited resources
cost outweighs the value

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4
Q

Business Problem

A

the real issue that needs to be addressed

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5
Q

Research Problem

A

a question that needs to be answered to solve a business problem

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6
Q

Steps of Marketing research

Phase 1

A

Determine the research problem

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7
Q

Step of research

Phase 2

A

Select research design

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8
Q

Step of research

Phase 3

A

Execute the Research Design

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9
Q

Step of research

Phase 4

A

Communicate the Results

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10
Q

Step of research

Phase 5

A

Identify Information Types and Sources

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11
Q

Step of research

Phase 6

A

Determine Methods of Accessing Data

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12
Q

Step of research

Phase 7

A

Design Data Collection Forms

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13
Q

Step of research

Phase 8

A

Determine the Sample Plan and Size

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14
Q

Step of research

Phase 9

A

Collect Data

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15
Q

Step of research

Phase 10

A

Analyze Data

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16
Q

Step of research

Phase 11

A

Prepare and Present the Final Research Report

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17
Q

By Source

Primary data

A

first-hand data (you gather yourself)
ex. surveys, observation, focus groups interview

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18
Q

By Source

Secondary data

A

existing data
ex. gov stats, articles, publications
Con: outdated, not 100% accurate
Pro: available, quick acquisition

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19
Q

Qualitative research

A

observe and interpret

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20
Q

Quantitative

A

numerically measure and test

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21
Q

Exploratory research

A

develop an idea further
conducted to clarify and define the nature of a problem
Qualitative

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22
Q

Descriptive research

A

describe an element of an idea precisely
provide answers to specific questions on WHO,WHAT,WHEN
QUANTATIVE

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23
Q

Causal (or experimental) research

A

cause and effect
test relationships between specifically defined marketing variables

24
Q

What can I obtain from ISBNWorld?

A

contains US industry profiles, sources, surveys, statistical modeling

25
Q

What can Claritas Zipcode Lookup obtain?

A

demographics, lifestyle, and purchase behaviors

26
Q

What is syndicated data?

A

refers to market research data that are collected, packaged, and sold to many different firms
secondary data collected by companies that sell the data to multiple companies

27
Q

What info does Google Trends obtain?

A

people are searching for, in real time. Measure search interest in a particular topic, place, and time

28
Q

What info does Google Scholar obtain?

A

research papers, grey literature, non-peer-reviewed papers, reports

29
Q

Literature Review?

A

secondary info for a research topic

30
Q

Descriptive hypotheses

A

answers to the specific applied research problem

31
Q

Predictive hypotheses

A

theoretical statement about relationships between
variables.

32
Q

What is FGI?

A

qualitative research method
8-12 individuals
group discussion
A well-prepared and skilled moderator\
Group: Homogeneous
Similar interests and experiences

33
Q

In-depth Interview

A

One-on-one conversations between interviewer and participant
develop in the participant’s thoughts

34
Q

Case study

A

one or several existing situations that are
similar to the current problem/opportunity situation
-recent change
- new trend

35
Q

Projective Techniques

A

indirect method of questioning
feelings onto a third
party, into a task situation, or onto an
inanimate object
useful when the topic involves social
desirability or personally sensitive issues.

36
Q

Ethnography

A

qualitative research that studies subjects in a natural setting

37
Q

Netnography

A

ethnography conducted online
social media

38
Q

Longitudinal Study

A

Repeated measures of variables
from panel over specific time
periods.

39
Q

Cross-Sectional Study (Survey)

A

Studying variables from a population
of interest, measured at a single point
in time.

40
Q

What are two types of descriptive research?

A

Longitudinal and Cross-Sectional Study

41
Q

Recognition test

A

show the respondents the target
object (e.g., brand, company, product attributes) and ask them to tell us whether or not they remember it.
a relatively shallow memory trace

42
Q

Recall test

A

you ask the respondent to
reproduce the target object
a relatively deep memory trace.

43
Q

What is “Top of Mind (T.O.M)”?

A

measures how well a brand is known by consumer

44
Q

How to calculate “T.O.M”?

A

add up the number of times the brand was
mentioned in the first column, divide by the total number of respondents, and
multiply by 100.

45
Q

Calculate “Share of Mind”?

A

0.10 and is exposed to 300,000 people, its share of mind would be 30,000, or 10%

46
Q

Calculate “recall intensity ratio”?

A

divide the T.O.M. percentage for
the brand by the overall recall percentage of the brand.

47
Q

Independent variable (x)

A

The presumed
cause variable

48
Q

Dependent
Variable (y)

A

The presumed
resulting outcome

49
Q

Are Correlation vs. Causation the same thing?

A

No

50
Q

Experiment

A

Scientific investigation in which an
investigator manipulates one or more
independent variables (X) and observes
the degree to which the dependent
variables (Y) change.

51
Q

Field Experiment

A

realistic situation where one
or more independent variables are manipulated by the
experimenter

52
Q

Laboratory Experiment

A

investigators create a
situation with exact conditions in order to control some
variables and manipulate others.

53
Q

Internal Validity

A

attributed to an
experimental variable

54
Q

External Validity

A

can be
generalized, or extended

55
Q

A/B Testing

A

two versions randomly assigned to subjects and then compared on
outcomes of interest.

56
Q

3 Types of Test Markets

A

Standard Test Market
Controlled Test Market
Simulated Test Market

MKT 352 Market Research (1 decks)

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