Exam 1 - Chapters 1-4 Mrkt Research

Question 1

Data?

Answer 1

Raw Information

Question 2

Information?

Answer 2

Includes reorder points

Question 3

Intelligence Distinctions?

Answer 3

Software program used to pullout information

Question 4

Objective?

Answer 4

Unbiased

Question 5

Systematic?

Answer 5

Planned

Question 6

Steps in Scientific Method?

Answer 6

Make an Observation, Form a Hypothesis, Test or Empirical Observation, Theory or Conclusion

Question 7

Applied and basic research?

Answer 7

Applied Research: Conducted to address a practical issue

Basic Research: Conducted to expand the limits of human knowledge

Question 8

Difference between applied and basic research?

Answer 8

Applied to solve practical problems, basis is to expand human knowledge

Question 9

Product oriented?

Answer 9

Superiority of Product

Question 10

Production Oriented?

Answer 10

Superiority of process efficiency and or effectiveness

Question 11

Marketing Oriented?

Answer 11

Providing value from the customer’s point of view

Question 12

Meaning of the elements of marketing orientation?

Answer 12

Most companies are a mixture of both

Question 13

Situations in which marketing research is not necessary?

Answer 13

5) Too quick, done many times, not worth it, amount of knowledge is not worth it,

Question 14

Characteristics of valuable information?

Answer 14

Relevance, quality, timeliness, completeness

Question 15

Relevance?

Answer 15

Relate to the decision/situation at hand; data “fits”

Question 16

Quality?

Answer 16

Represent the true situation(accurate, reliable, valid)

Question 17

Timeliness?

Answer 17

Current enough to be relevant

Question 18

Completeness?

Answer 18

Not missing important parts or subsets

Question 19

Symptom?

Answer 19

Observable cues that serve as a signal of a problem

Question 20

Problems?

Answer 20

A situation that makes some negative consequence more likely

Question 21

Opportunity?

Answer 21

Situation that makes some competitive advantage possible

Question 22

Exploratory research?

Answer 22

Conducted to clarify an ambiguous situation or discover ideas that may be potential business opportunities

Question 23

Descriptive Research?

Answer 23

Describes the characteristics of objects, people, groups, organizations, or environments tries to “paint a picture”

Question 24

Causal Research?

Answer 24

Research which seeks to identify and measure cause-and-effect relationships

Question 25

Available Exploratory Research techniques?

Answer 25

Expert interviews, Focus Groups, Pilot Study, Secondary Research

Question 26

Requirements of causality?

Answer 26

Temporal Sequence: a occurs before b Concomitant Variation: a and b vary in a consistent and predictable fashion Absence of Confounding Variable (or "spurious association"): there is no other variable which influences a and/or b

Question 27

Characteristics of exploratory research?

Answer 27

May not be representative of early research

Question 28

Relationship to Correlation?

Answer 28

Correlation is two things happen together, they don’t always cause one another

Question 29

Independent vs Dependent Variable?

Answer 29

independent variable = is one your changing. Dependent = thing your looking for from the result

Question 30

Advantages to research by outside agencies?

Answer 30

``` Fresh perspective(avoid groupthink) Objectivity(job loss potential; executive bias) Special Expertise in subject matter, methodology, or geography ```

Question 31

Disadvantages to research by outside agencies?

Answer 31

Expensive, slower

Question 32

Syndicated Research?

Answer 32

``` Recurring Market share, quality) Ad Hoc (multi-client study) - Whats the walnut market going to be in Kazahakstan ```

Question 33

Standardized Research?

Answer 33

``` Proprietary Technology (Eg research funding) Proprietary Methodology (e.g. robustness) ```

Question 34

Custom Research?

Answer 34

Zero-based approach

Question 35

Utilitarianism?

Answer 35

English Enlightenment

Question 36

Deontology?

Answer 36

the study of the nature of duty and obligation.

Question 37

Cultural relativism?

Answer 37

.civilization is not something absolute, but ... is relative, and ... our ideas and conceptions are true only so far as our civilization goes.

Question 38

Ethical Dilemmas?

Answer 38

a complex situation that often involves an apparent mental conflict between moral imperatives, in which to obey one would result in transgressing another.

Question 39

Dilemma of observational research?

Answer 39

Get their consent, they know their being watched so they behave differently

Question 40

Rights of participants in research?

Answer 40

Confidentiality, Right to refuse, Do not call lists

Question 41

Examples of descriptive research?

Answer 41

The men’s fragrance market - is one-third the size of the women’s fragrance market - is growing at a faster pace than the women’s market - Women purchase 80% of men’s fragrance

Question 42

Examples of causal research?

Answer 42

Dependent variable is sales. Independent variable might be almost anything

Question 43

Types of pseudo-research?

Answer 43

undertaken only to prove or support a point of view