Exam Flashcards
Marketing research is one of the principal tools for answering questions because it:
Links the consumer, customer and public to the market through information used to identify and define marketing opportunities and problems.
Generates, refines and evaluates marketing actions
monitors marketing performance
Improves the understanding of marketing as a process
Dependent variable:
A criterion or variable to be predicted or explained.
Independent Variable:
Variable that is expected to influence a dependent variable.
Hypothesis:
Unproven proposition or a possible solution to the problem.
Applied Research:
Conducted when a decision must be made about a specific real-life problem.
Scientific method:
The techniques and procedures used to recognise and understand marketing phenomena (used in both basic and applied research).
The 4 strategies in Developing and implementing a marketing strategy are:
- Identifying and evaluating opportunities
- Analysing and selecting target markets
- Planning and implementing a marketing mix
- Analysing marketing performance
The determination of the need for marketing research centers on:
- Time constraints
- The availability of data
- The nature of the decision
- Benefits compared to costs
Stages in the research process:
Defining the problem
Planning a research design
Planning a sample
Collecting the data
Analysing the data
Formulating the conclusions and preparing
the report.
Basic research methods:
Exploratory research for ambiguous problems.
Descriptive research for partially defined problems (survey).
Causal research for sharply defined problems.
The process of defining the problem:
A.U.I.D.D.S
Determine the relevant variable:
A variable is anything that varies in value.
Research Proposal:
P.S.D.D.T.
Exploratory research is used for:
Diagnosing a problem
Screening Alternatives
Discovering New Ideas
Qualitative research orientations:
Phenomenology - human experiences/behavior
Ethnography - Culture of Interest
Grounded Theory - Historical Records
Case Studies
