Exam #1 - the research process (chap 1-5) Flashcards
What is geofencing?
when a virtual fence is placed around a geographic location in real life (monitors time of day of visits, length of visits, in-the-moment feedback)
The large and complex datasets that IT enables organizations to gather and store is referred to as …
“big data”
Where is “big data” stored?
“databases” or “data warehouses”
Descriptive techniques…
answer what has happened.
Predictive techniques…
predict future developments.
Prescriptive techniques…
determine optimal behaviors.
Which of the following characteristics is NOT true for internal marketing research departments?
a) there is shared info across the company
b) lower research costs
c) research method consistency
d) more objective, less subject to company politics
d is not true - internal departments may be subject to company drama
Which of the following characteristics is NOT true for external marketing research sources?
a) made up of operations within the company
b) operate on a fee basis
c) specialized talents
d) scheduled basis, can perform all aspects
a is not true - they are made up of external researchers and designers
“Curbstoning” is when…
the researcher trains the interviewers
True or False: You must debrief a subject when they’ve been deceived in a study.
TRUE!
Why is marketing research important? / What is the purpose?
it is the only way we can know if the consumer is satisfied, if they’d buy the product, what they want, etc.
True or False: Our wants and needs remain constant over time.
FALSE - They change!
Explain the Tupperware vs. Rubbermaid situation. Why is this a good example of marketing research?
- Tupperware only sold product through “tupperware parties” in the 50s and 60s with housewives with nothing better to do in the middle of the day
- They still sell product like that because they failed to change their sale design with the “times”
- Rubbermaid swept in and stole their market share because they sell everywhere (in stores, online, etc.)
Marketing research links…
an ORGANIZATION and its MARKET
Information gathered through marketing research must be: (4 things)
- objective + impartial (cannot have any stake in the outcome)
- current
- relevant
- translatable
What is the difference between basic research and applied research?
basic - theory-driven
applied - commercial / company-driven
Research that helps to identify problems that are not apparent on the surface / are likely to arise in the future is…
problem identification research
Research that helps solve specific marketing problems (like customer segmentation, marketing mix, etc.) is…
problem solving research
MARKETING RESEARCH PROCESS
What is the research “chain” through which increased information = value?
data -> info -> knowledge -> decision-making -> implementing action
We conduct marketing research to… (ISA)
- identify marketing problems
- solve marketing problems
- add value
What are some examples of reasons companies would not want to engage in research?
“We have no $$.”
“Research won’t be useful.”
“Timing isn’t right.”
“We already have the info.”
“The decision is already made.”
Which two things mean the same thing?
- internal suppliers
- full-service suppliers
- external suppliers
- marketing liaisons
- corporate marketing research depts.
- consulting
internal suppliers = corporate marketing research departments
Which two things mean the same thing?
- internal suppliers
- external suppliers
- marketing liaisons
- initiative limited-servicers
- consulting
external suppliers = consulting