Lectures 1 and 2

Question 1

marketing research

Answer 1

the specification, gathering, analysis, and interpretation of information to help management understand the environment, identify problems and opportunities, and develop and evaluate courses of marketing action

Question 2

why do marketing research?

Answer 2

Provide Market Intelligence
Aid Decision Making
Minimize Risk

Question 3

why not just make educated guesses?

Answer 3

you’re likely to be pretty wrong (quotes)

Question 4

where to do marketing research?

Answer 4

Understand customer, competitor, and company
Set the right marketing mixes:
-Product
- Price
-Promotion
-Place
-Segmentation, targeting and positioning

Question 5

When was the first example of marketing research?

Answer 5

First Recorded Marketing Research Survey

-Election poll in 1824 by Harris Pennsylvanian

Question 6

issues to consider related to marketing research

Answer 6

sample size, margin of error, sample bias, nonresponse

bias, etc.

Question 7

Mature Years - 1950-Present

Answer 7

Change from seller’s market to buyer’s market is key
Market segmentation techniques develop
1960s predictive and descriptive mathematics employed
1990s OTC software enables masses to analyze data

Question 8

Early Growth - 1900-1920

Answer 8

Curtis Publishing started first research department in 1911

Recall measures and scaling introduced

Question 9

Adolescent Years - 1920-1950

Answer 9

A.C. Nielsen begins research in 1922
1940s focus groups and random sampling selection begin
WWII gets social scientist into marketing research

Question 10

Inception - Pre-1900

Answer 10

Harrisburg, PA - first research survey in 1824

Mail surveys introduced in 1895 with 10% response rate

Question 11

programmatic

Answer 11

Research conducted to develop marketing options
through market segmentation, market opportunity
analyses, or consumer attitude and product usage
studies.

Question 12

selective

Answer 12

Research used to test decision alternatives such
as new product concept testing, advertising copy
testing, pretest marketing, and test marketing.

Question 13

evaluative

Answer 13

Research done to assess program

performance.

Question 14

marketing research industry structure

Answer 14

1. Corporate, organizational marketing departments
2. Media companies
3. Research suppliers: Ad-hoc to full service
   suppliers
4. Field service or specialized service firms

Question 15

the research process

Answer 15

1. formulate the problem
2. determine the research design
3. design the data collection method and forms
4. design the sample and collect data
5. analyze and interpret the data
6. prepare the research report

Question 16

formulate the problem

Answer 16

Whose problem?
decision-managers perspective
research-researchers perspective

Question 17

determine the research design

Answer 17

what are we looking for?

insights, generalizability, causality

Question 18

design the data collection method and forms

Answer 18

can we use secondary date? (availability, level of fit) if not collect primary data

Question 19

primary data

Answer 19

interviews, observation, questionnaire

Question 20

design the sample and collect data

Answer 20

sampling:

sample size, population, sample frame, probability vs. nonprobability

Question 21

analyze and interpret the data

Answer 21

coding, tabulation (frequencies, descriptive statistics, cross-tabs), statistical tests

Question 22

prepare the research report

Answer 22

make it clear, accurate, and professional.

interpret findings and tailor to audience

Question 23

why is it important to have an understanding of marketing research?

Answer 23

without it, you have to take recommendations from others-putting career in the hands of others

Question 24

where do marketing problems come from?

Answer 24

Planned change

• Desired change to help business grow
• Problem: How change can be brought about?

Unanticipated change

• Change in environment
• Problem: What is happening and why?

How do we take advantage of opportunity?

Question 25

Decision problem

Answer 25

the problem facing the decision maker for which the research is intended to provide answers

Question 26

Research problems

Answer 26

A restatement of the decision problem into what information is required by the decision problem. Usually there are multiple research problems corresponding to a decision problem.

Question 27

example Decision Problem

Answer 27

Should YouTube offer movie rental for a fee?

Question 28

example research problem

Answer 28

Who are YouTube’s major competitors? What are they offering?
What are their market shares?

Who are YouTube’s customers? their perceptions of and attitudes
toward YouTube and competitors? Would this service offer change
the brand image of YouTube?

Is there a segment of customers who are willing to pay for movie
rental on YouTube? And their price sensitivity?

What movies that YouTube select to rent for a fee? How to
distinguish from competitors?

Channel of communication?

Question 29

discovery oriented decision problems

Answer 29

associated with unplanned change
-what is going on?
-why is it going on?
research findings provide insights which lead to more research

Question 30

strategy oriented decision problems

Answer 30

associated with planned change
-how should we do this?
-where should we do this?
-to whom should we do this?
research findings lead directly to action

Question 31

marketing analysis

Answer 31

Customer (needs), Company (resources), Competitors

capabilities), collaborators (activities), Context (forces

Question 32

marketing strategy

Answer 32

market segmentation, target market selection, and product/service positioning

Question 33

when not to conduct research

Answer 33

• research costs exceed expected benefits
• insufficient time/budget
• new product with radical innovation
• outcome “decided” in advance

Question 34

what is the most important step of the marketing research process?

Answer 34

defining the problem (step 1)