Exam 1 Flashcards
Aims to clarify ambiguous situations or discover ideas that may amount to true business opportunities. Does not provide conclusive evidence from which to determine a particular course of action. Can be useful in helping to better define a marketing problem or identify a market opportunity.
Exploratory Research
Describes characteristics of objects, people, groups, organizations, or environments. Tries to “paint a picture” of a given situation. Addresses who, what, when, where, why, and how questions. Accuracy is critically important. Researchers usually conduct studies with a considerable understanding of the marketing situation.
Descriptive Research
Allows decision-makers to make causal inferences. What brought some event about? Seeks to identify cause-and-effect relationships to show that one event actually makes another happen.
Causal Research
What are the three types of marketing research?
Exploratory Research, Descriptive Research,Causal Research
The process of developing and deciding among alternative ways of resolving a problem or choosing from among alternative opportunities
Decision Making
A situation that makes some potential competitive advantage possible
Market Opportunity
A business situation that makes some significant negative consequence more likely.
Market Problem
Observable cues that serve as a signal of a problem.
Symptoms
List the six major stages of the marketing research process in order
Defining research objectives, Planning a research design, Planning a sample, Collecting data, Analyzing data, Formulating conclusions and preparing a report
A formal, logical explanation of some event(s) that includes predictions of how things relate to one another.
Theory
A formal statement, derived from theory, explaining some specific outcome.
Hypothesis
A single study addressing one or a small number of research objectives
Research Project
Numerous research studies that come together to address multiple, related research questions
Research program
A conclusion that when one thing happens, another specific thing will follow.
Causal Inference
Three critical pieces of causal evidence are:
Temporal Sequence, Concomitant Variance, Nonspurious Association
Deals with the time order of events. Having an appropriate causal order is a necessary criterion for causality.
Temporal Sequence
Variation occurs when two events “covary,” meaning they vary systematically. In causal terms, means that when a change in the cause occurs, a change in the outcome also is observed.
Concomitant Variance
Means any covariation between a cause and an effect is indeed because of the cause and not simply owing to some other variable
Nonspurious Association
Causal research should do all of the following:
- Establish the appropriate causal order
- Measure the concomitant variation (relationship) between the presumed cause and the presumed effect
- Examine the possibility of spuriousness by considering the presence of alternative plausible causal factors
Degrees of Causality
- Absolute causality
- Conditional causality
- Contributory causality
The cause is necessary and sufficient to bring about the effect is:
Absolute causality
A cause is necessary but not sufficient to bring about an effect is:
Conditional causality
Maybe the weakest form of causality. A cause need be neither necessary nor sufficient to bring about an effect is:
Contributory causality
An association that is not true is:
Spurious Association