MARK 3000 Chapter 10 Flashcards
what is marketing research?
set of techniques and principles for systematically collecting, recording, analyzing data that can aid decision makers
what are the steps to the research process?
- defining objectives and research needs
- designing the research
- data collection process
- analyzing data and developing insights
- action plan and implementation
what questions are asked during step 1 of the research process? (defining objectives and research needs)?
- what info is needed to answer specific research questions?
- how should that info be obtained?
what are the two types of data during step 2 of the research process (designing the research)?
secondary data and primary data
what are the two types of research for step 2 of the research process (designing the research)?
qualitative research and qualitative research
what is secondary data?
pieces of information collected prior to this research project; “looking things up”
what is primary data?
data collected specifically for this research; creating new information
what are the two types of secondary data?
internal and external
what are examples of external secondary data?
government sources (census), syndicated data, scanner data, panel data
what is syndicated data?
data available for a fee from commercial research firms
what are examples of internal secondary data?
data warehouse and data mining
what is a data warehouse?
where data is stored
what is data mining?
the action of finding and storing data
what are the primary data collection techniques for qualitative data?
- observation
- in depth interviews
- focus groups
- social media research
what type of primary data collection provides initial information, and is generally in depth and unstructured?
qualitative methods
what are the two types of primary data collection?
qualitative and quantitative methods
what is observation?
entails examining purchase and consumption through personal or video camera scrutiny or by tracking customer movements
what is manual observation research?
collecting information through directly or indirectly watching and observing in natural or planned environments
what is mechanical observation research?
any observation that uses some form of technology for data collection and recording
what is ethnographic observation research?
observing consumers in their natural habitat (their home)
what are in depth interviews?
where trained researchers ask questions, listen to their answers and then pose additional questions to clarify or expand particular issue
what type of qualitative research method is somewhat unstructured and time consuming and costly?
in depth interviews
what type of qualitative research methods has a group of 8-12 people, discusses one topic and is facilitated by a trained moderator?
focus groups
what type of qualitative research method is when you monitor blogs, online communities and sentiment mine?
social media research
what type of primary research method has a large number of respondents, is statically valid and can generalize?
quantitative research
what are the quantitative research methods?
- experiments
- surveys
- scanner / panel
what type of quantitative research method is when you are changing a variable and analyzing results ?
experiments
what is the most popular type of quantitative primary data collection?
survey research
what are some considerations to survey reasearch?
- the types of questions
- the wording of questions
what type of questions do you avoid in a survey?
- leading
- double barreled
- jargon or inappropriate terminology
- consumer unable to answer
what step in the research process is when you convert data into information to explain, predict and/or evaluate a particular situation ?
step 4: analyzing data and developing insights
what are the aspects of step 5 of the research process (action plan and implementation)?
- executive summary
- body
- conclusions
- limitations
- supplements including tables, figures and appendices
what is big data?
data sets that are too large and complex to analyze with conventional software
what are the 4 V’s of big data?
- volume
- variety
- velocity
- veracity
