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mktg 379 final > final > Flashcards

final Flashcards

1
Q

Marketing Research

A
  • Specifies information
  • Designs the method for collecting information
  • Manages the data collection process
  • Analyzes and communicates the results
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2
Q

By conducting marketing research on the various factors in the marketing environment,

A

you can do your best to remove any kind of uncertainty

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3
Q

Marketing Research allows businesses:

A
  • To better understand their products/services
  • To monitor their competitors
  • To understand industry market trends
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4
Q

The Marketing Research Process

A
  1. Formulate the Problem
  2. Determine Research Design*
  3. Gather Data
  4. Analyze & Interpret Data
  5. Prepare the Research Report
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5
Q

Three major categories of groups conducts marketing research

A
  • Producers of products and services
  • Advertising agencies
  • Marketing research companies
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6
Q

Producers of products and services

A

Organizations that produce products or deliver services for businesses or consumers often conduct research designed to develop and market their products and services

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7
Q

Examples of producers of products and services

A

a. Ex: ESPN, Unilever & Apple – Have internal marketing research departments
b. Target, Walmart & Zara – Operate research departments to gather information about consumer preferences, store image, etc

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8
Q

Advertising agencies

A

Conducts research designed to help create and measure the effectiveness of advertising campaigns

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9
Q

Examples of advertising agencies

A

a. Ex: Marketing and Advertising agencies – Testing alternative approaches to the words or graphics used in an ad, effectiveness of celebrity spokespeople, etc.
b. INNOCEAN Worldwide

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10
Q

Marketing research companies

A

Companies that specialize in conducting marketing research

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11
Q

Examples of marketing research companies

A

a. Ex: Nielsen Holdings – Provides product-movement data for grocery stores and drug stores, as well as television ratings

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12
Q

Other firms specialized in custom-designed research:

A
  • Field service – data collection
  • Limited-service – both data collection and analyze the data
  • Government agencies, trade associations and universities
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13
Q

Problem formulation process

A
  1. Meet with the client
  2. Clarify the problem/opportunity
  3. State the manager’s decision problem
  4. Develop a full range of possible research problems
  5. Select a research problem that best address the manager’s decision problem
  6. Prepare and submit the research request agreement to the client
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14
Q

What occurs in 1. Meet with the client

A
  • Need to gather as much information as possible about the problem at hand
  • Get the broader context more than a more specific task
  • Is issue planned or unplanned change
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15
Q

Planned change

A

more future-oriented and being proactive (i.e., increase revenue)

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16
Q

Unplanned change

A

issues that occur unexpectedly (i.e., new technology)

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17
Q

What occurs in 2. Clarify the problem/opportunity

A
  • Help managers get precisely to the heart of the problem
  • Researchers are responsible for ensuring that root causes and clear paths of actions are determined
  • One of the toughest steps
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18
Q

What occurs in 4. Develop a full range of possible research problems

A
  • Each of the possible research problems beings with an action word (ex. “investigate”, “determine”, etc)
  • Describes information to be uncovered that might help solve the decision problem
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19
Q

Managers decision problem describes…

A

the manager’s view of the situation

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20
Q

Research problem

A

a restatement of the decision problem in research terms, from the researcher’s perspective

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21
Q

What occurs in 5. Select a research problem that best address the manager’s decision problem

A
  • Review each possible research problem
  • The trade-off between the benefits of the information to be obtained,
  • The importance of the decision problem(s) to be made,
  • And the costs of obtaining that information
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22
Q

Research Request Agreement

A

a document prepared by the research team after meeting with the decision maker that summarizes the problem and the information that is needed to address it

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23
Q

What are the sections in a research request agreement

A
  1. Background
  2. Decision problem
  3. Research problems
  4. Use
  5. Population
  6. Logistics
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24
Q

Decision problem

A

The basic problem facing the manager, for which marketing research is intended to provide answers

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25
Q

A well-stated decision problem takes the managers perspective

A

and takes the form of a question

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26
Q

Two types of decision problems

A
  1. Discovery-oriented decision problem
  2. Strategy-oriented decision problem
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27
Q

Discovery-oriented decision problem

A
  1. Seeks to answer “What?” or Why?” questions about a problem/opportunity
  2. The focus is generally on generating useful information
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27
Q

Strategy-oriented decision problem

A
  1. Seeks to answer “How?” questions about a problem/opportunity
  2. The focus is generally on selecting alternative courses of action
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28
Q

What are the three research designs

A
  1. Exploratory
  2. Descriptive
  3. Casual
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29
Q

Exploratory Research

A

The major emphasis is on gaining ideas

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30
Q

Types of exploratory research

A
  1. Internet search
  2. Literature search
  3. Depth interviews
  4. Focus groups
  5. Case studies
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31
Q

Exploratory research is conducted to provide more information to better understand a situation NOT

A

to produce answers or decisions

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32
Q

In exploratory, researchers hope to

A

produce hypotheses about what is going on about a situation

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33
Q

Internet and literature search

A
  • One of the quickest and least costly ways to discover hypotheses is to conduct
  • MUST START HERE
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34
Q

What are some examples of internet and literature search

A

news articles, report studies, US census bureau, much more

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35
Q

Depth interviews

A

Second most important step just getting out there talking to people and asking questions

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36
Q

Researchers should interview with people

A

knowledgeable about the general subject being investigated

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37
Q

Examples of people to interview

A

current customers, target market members, executives and managers of the client, sales reps, wholesalers, retailers, and much more!

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38
Q

Focus groups

A
  • An interview conducted among a small number of individuals simultaneously
  • relies more on group discussion than on directed questions to generate data
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39
Q

In focus groups discussion is directed by

A

the moderator who is an individual who meets with focus group participants and guides the session

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40
Q

Case studies

A

Intensive study of selected examples of the phenomenon of interest

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41
Q

Examples of case studies

A

examining existing records, conduct unstructured interviews, people are carefully observed

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42
Q

Descriptive Research

A

emphasis is on determining the frequency with which something occurs or the extent to which two variables covary

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43
Q

Descriptive is super common in

A

business, not to mention life in general

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44
Q

Descriptive research is used to

A
  • To describe the characteristics of certain groups
  • To determine the proportion of people who behave in a certain way
  • To make specific predictions
  • To determine relationships between variables
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45
Q

Exploratory research studies are

A

flexible and is more of an informed overload

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46
Q

Descriptive research studies require

A

specification of the who, what, when, where, why and how of the given research

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47
Q

Casual research

A

emphasis is on determining cause-and-effect relationships

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48
Q

While we may not be certain that a change in one variable produces a change in another, we can conduct

A

research to narrow the likely casual relationship between two variables by eliminating the other possible causes that we are aware of

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49
Q

Causal research designs work toward

A

establishing possible causal relationships through the use of experiments

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50
Q

Experiment

A

a scientific investigation in which an investigator manipulates and controls one or more independent variables and observes the degree to which the dependent variables changes

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51
Q

Three types of ways to use marketing information services

A
  1. Profiling customers
  2. Measuring product sales and market share
  3. Measuring advertising exposure and effectiveness
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52
Q

Profiling customers is done

A

through market segmentation

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53
Q

If firms can group their customers into relatively homogeneous groups, they can

A

tailor marketing programs to the groups, making the programs more effective and the customers more satisfied

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54
Q

Measuring product sales and market share

A

Organizations need an accurate assessment of how they are doing if they are to succeed in an increasingly competitive environment

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55
Q

How do organizations measure product sales and market share

A

review internal records and determine how much they have sold into the channel of distribution (i.e. wholesalers, distributors, etc.)
ex: online diary panels, scanners

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56
Q

Measuring advertising exposure and effectiveness

A
  1. Internet
  2. Television
  3. Social media
  4. Multimedia services
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57
Q

Two main advantages of secondary data

A

Time and money

58
Q

Secondary data does not completely solve the problem under study, but will do

A
  • Help you better state the problem under investigation
  • Suggest improved methods or further data that should be collected
  • Provide comparative data that can help interpret primary data if such data is collected
59
Q

Two main disadvantages of secondary data

A
  • They often don’t fit the current problem very well
  • They are sometimes not accurate
60
Q

Internal secondary data

A

Data that comes from internal sources

61
Q

Internal secondary data are often the

A

lease costly and most readily available of any type of marketing research

62
Q

External secondary data

A

Data that comes from external sources

63
Q

External secondary data: Published data (Before and during your search for published data)

A
  1. Identify what you wish to know and what you already know about your topic
  2. Develop a list of key terms and names
  3. Search several of the general guides and directories and web sites for papers and/or reports
  4. Compile the literature you have found. Rework your list of key words and authors if necessary
64
Q

Types of primary data

A
  1. Demographic/socioeconomic characteristics
  2. Personality/lifestyles characteristics
  3. Attitudes
  4. Awareness/Knowledge
  5. Intentions
  6. Motivation
  7. Behavior
65
Q

Demographic characteristics

A
  1. age
  2. education
  3. occupation
  4. marital status
  5. gender
  6. income
66
Q

Personality refers to the

A

normal patterns of behavior exhibited by an individual – the attributes, traits and mannerisms that distinguish one individual from another

67
Q

Attitude

A

an individual’s overall evaluation of something

68
Q

Awareness

A

what respondents do and do now know or believe about some product, brand, company, advertisement, or other element

68
Q

Person’s intentions

A

refer to their anticipated or planned future behavior
* receive less attention in marketing than some other types of primary data

69
Q

Motive

A

a need, want, drive, urge, wish, desire, impulse, or any inner state that directs behavior towards goals

70
Q

Two methods to obtain primary data

A

Communication and observation

71
Q

Communication

A

questioning respondents to get the information you need using a questionnaire

72
Q

Observation

A

DOES NOT involve questioning
Researchers instead carefully watch individuals in a particular situation and record their behaviors in detail

73
Q

Communication method of data collection has advantages

A
  • Versatility
  • Speed
  • Cost
74
Q

Versatility

A

ability to collect information on the different types of primary data that marketers care about

75
Q

Observation method of data collection have the advantages

A

Objectiveness and accuracy

76
Q

Which is more preferred when examining consumer behavior

A

Observation research

77
Q

Which is more expensive? Observation or Communication

A

Observation

78
Q

Structured observation

A

applies when the research problem has been defined precisely enough so that you can specify the behaviors to observed as well as the categories used to record and analyze the situation

79
Q

Unstructured observation

A

used for studies in which the research problem has not been precisely defined and you have a great deal of flexibility in terms of what to note and record

80
Q

Disguised observation

A

when those being observed don’t know they are being observed

81
Q

Undisguised observation

A

when they do know

82
Q

Natural setting for observation

A

subjects are observed in the environment where the behavior normally takes place

83
Q

contrived setting for observation

A

subjects are observed in an environment that has been specially designed for recording their behavior

84
Q

Human observation

A

is where individuals are trained to systematically observe something and record on the observational form what takes place

85
Q

Electrical/mechanical observation

A

where a device observes instead of a human

86
Q

the scales of measurement

A
  • nominal
  • ordinal
  • interval
  • ratio
87
Q

nominal

A

the measurement in which numbers are assigned to objects or classes of objects solely for the purpose of identification

88
Q

Example of nominal

A

Ex: social security #
* Basketball jerseys
* Male respondents = 1, female respondents = 2
* Numbers don’t mean anything other than simple individual or category identification

89
Q

Ordinal

A

measurement in which numbers are assigned to data on the basis of some order (ex. More than, greater than) of the objects

90
Q

Example of ordinal

A
  • It is impossible to say how much any individual prefers more than the other
  • Ex: rank the soft drinks of the following according to your degree of liking for each, assigning your most preferred drink rank = 1 and your least preferred drink rank =6
91
Q

Interval

A

measurement in which the assigned numbers legitimately allow the comparison of the size of the differences among and between members

92
Q

An example of interval

A
  • The intervals between the numbers tell us how far apart the objects are with respect to the attribute
  • Allow us to say that one brand is preferred over another by comparing scores and which brand is generally liked or disliked
93
Q

Ratio

A

measurement that has a natural, or absolute, zero and therefore allows the comparison of absolute magnitudes of the numbers

94
Q

Example of ratio

A

EX: height, weight
* Can compare intervals, rank objects according to magnitude, use the numbers to identify the objects
* EX: in the past seven days, approx. how many 12-ounce servings of each of the following soft drinks have you consumed?

95
Q

Developing a questionnaire

A
  1. Specific what information will be sought
  2. Determine method of administration
  3. Determine content of individual questions
  4. Determine form of response to each question
  5. Determine wording of each question
  6. Determine question sequence
  7. Determine physical characteristics of questionnaire
  8. Develop recruiting message or script
  9. Reexamine steps 1-8 and revise if necessary
  10. Pretest questionnaire and revise if necessary
96
Q

Three methods of collecting questionnaire data

A
  1. Personal interviews
  2. Phone interviews
  3. Web-based questionnaires
97
Q

Census

A

if you collect information from or about each member of the relevant population

98
Q

Sample

A

a selection of a subset of elements from a large group of objects

99
Q

Population

A

a complete set of what you want to measure

100
Q

What does it mean by defining the target population

A

all the individuals or objects that meet certain requirements for membership in the overall group

101
Q

The simpler the definition of the target population

A

the easier it will be to find the sample

102
Q

sampling frame

A

the list of population elements from which a sample is drawn
* geographic areas
* institutions
* individuals

103
Q

there are no perfect sampling frames

A

but you should always case a big net

104
Q

Two sampling procedures

A

Non-Probability Sampling and Proability Sampling

105
Q

Non-Probability

A
  • When the units are of the sample are selected based on convenience or judgement
  • NOT a random procedure
106
Q

Proability

A
  • When a random technique is used to select units of a sample
  • The sample is based on chance and every member has a known probability of selection
107
Q

does size of the population have a direct effect on the size of the sample

A

no

108
Q

3 types of non-probability samples

A
  1. Convenience
  2. Judgement
  3. Quota
109
Q

Convenience samples

A

population elements are included in the sample because they were readily available

110
Q

Judgement samples

A

the elements are handpicked because they are expected to serve the research purpose

111
Q

Quota samples

A

the proportion of sample elements with certain characteristics is about the same as the proportion of the elements with characteristics in the target population

112
Q

Probability samples

A

each target population elements has a known nonzero chance of being included in the sample

113
Q

5 types of probability samples

A
  1. simple random
  2. systematic
  3. stratified
  4. cluster
  5. multi-stage cluster
114
Q

Simple random sample

A

basically just pulling out names of a hat or selecting via random procedure

115
Q

Systematic sample

A

we pick every X person from our sampling frame

116
Q

Stratified sample

A

use this to represent various subgroups of the population

117
Q

Cluster sample

A

where the entire population is divided into groups and a random sample of these clusters are selected. Instead of sampling consumers you sample a cluster of consumers are a higher level

118
Q

Multi-stage cluster sample

A

involves using two or more probability techniques above

119
Q

Types of errors

A
  1. Sampling error
  2. non-coverage error
  3. Non-response error
  4. Response error
  5. Office error
120
Q

Sampling error

A
  • Affects projects that rely on samples drawn from a population
  • The difference between results obtained for a sample and the results we would have obtained had we gathered the information from the entire population
  • This error isn’t as significant as the other four
121
Q

Noncoverage error

A
  • Error due to the failure to include some elements of the defined target population in the sampling frame
  • Essentially is sampling frame issue
  • Ex: Loss of previous consumer information (emails, etc.)
122
Q

Nonresponse error

A
  • Error from failing to obtain information from some elements of the population that were selected and designated for the sample
  • Ex: “How successful recent school graduates are?”
123
Q

Response error

A

Error that occurs when an individual provides an inaccurate response, consciously or subconsciously, to a survey item

124
Q

Office error

A

Error due to data editing, coding or analysis errors

125
Q

6 ways to improve response rates

A
  1. survey length
  2. guarantee of confidentiality
  3. Interviewer characteristics and training
  4. Personalization
  5. Response incentives
  6. Follow-up surveys
126
Q

What is editing?

A

the process of checking completeness, consistency of data and making the data ready for coding

127
Q

What is coding?

A

when we take the answers from the questionnaire and put them in numeric form

128
Q

Primary tasks in the editing process

A
  • Convert all responses to consistent units
  • Access degree of nonresponse
  • When possible, check for consistency across responses
  • Look for evidence that respondent wasn’t really thinking about his or her answers
  • Verify that branching questions were followed correctly
  • Add any needed codes
129
Q

Marketing data analytics process

A
  1. Get the data
  2. Organize and merge the data
  3. Analyze
  4. Act
130
Q

Big data sources

A
  • Internal company data
  • Online retailers
  • Search engines
  • Social media
131
Q

Data from traditional sources

A
  • Internal company data – consider your own interactions with companies:
  • Data from traditional primary sources
132
Q

What are the steps in cleaning the collected data

A
  1. Validation and editing the data (quality control)
  2. Coding
  3. Data Capture
  4. Logical cleaning of data
  5. Tabulation and statistical analysis
133
Q

Types of analytics

A
  1. Descriptive analytics
  2. Predictive analytics
  3. Prescriptive analytics
134
Q

Descriptive analytics

A

Data summarized in basic forms to discern patterns

135
Q

What is an example of descriptive analytics?

A

Ex: collecting median data for potential new homebuyers

136
Q

Predictive analytics

A

Predicts what customers or potential customers will do in response to various marketing programs or classify them into market segment or other subgroups

137
Q

Prescriptive analytics

A

Tells us the best course of action in a given situation

138
Q

Give an example of prescriptive analytics

A

Ex: Airlines adjusting fares for different destinations based on the time of the year

139
Q

Handling missing data

A
  • Eliminate the case with the missing item(s) from all further analyses * Eliminate the case with the missing item in analyses using the variable
  • Substitute values for the missing items
  • Contact the respondent again
140
Q

What is Market Testing?

A
  • involves the use of a controlled experiment done in a limited but carefully selected section of the marketplace
    -* sed to predict the sales or profit outcomes
141
Q

What are the key issues to Market Testing?

A
  1. Cost
  2. Time
  3. Control
142
Q

What are the three types of test markets?

A
  1. Standard Test Market
    -the company sells the product through its normal distribution channel
  2. Controlled Test Market
    -conducted by an outside service
  3. Simulated Test Market
    -consumer ratings and other information are fed into a computer model

mktg 379 final (2 decks)

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