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SEM143 > Market Research > Flashcards

Market Research Flashcards

1
Q

Define Marketing

A

The process of planning and executing the conception, pricing, promotion, and placement of goods and services to create exchanges that satisfy individual and organizational objectives.

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2
Q

What is the main purpose of Market research?

A

Its a means of understanding the environment and market segments

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3
Q

What is market research?

A

links the consumer to the marketer through information that is used to

  • identify and define marketing opps/probs
  • generate and eval marketing actions
  • monitor performance
  • improve the process
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4
Q

when should we not conduct market research?

A
  • not enough rescues (time/money)
  • managers cannot agree on what they need to know
  • Research cost outweigh benefits
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5
Q

Positive aspects of internet surveys

A
  • rapid access to information
  • easy management
  • reduce costs
  • quick to publish results
  • easier to follow up longitudinal studies
  • higher response rates
  • can contact the hard to reach
  • can be updated instantly
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6
Q

Neg of internet surveys

A
  • sample might not represent the population
  • could over-survey your audience
  • not everyone has an internet connection
  • you can’t see body language, depth of comments
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7
Q

Users of market research?

A

Internal clients
External Clients
(every level in a business can use MR)

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8
Q

Explain the Deontology perspective

A

People should adhere to their (moral obligations) when analysing a dilemma.

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9
Q

What is the utilitarianism ethical perspective?

A

Cost/Benefit analysis. Do the benefits outweigh the costs?

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10
Q

Explain the Casuist ethical perspective

A

(based on historic evidance) - Current ethical dilemma resolved by perusing examples of similar situations.

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11
Q

What are the 7 BUHREC principles?

A
  • Notice
  • Choice
  • Onward Transfer
  • Access
  • Security
  • Data Integrity
  • Enforcement
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12
Q

What are some examples of unethical behavior?

A
  • Low Ball pricing
  • be subjective in your research
  • abusing respondents
  • selling unnecessary research
  • misrepresentation
  • Blk box branding
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13
Q

What are some examples of unethical behavior by clients?

A
  • Requesting bids after supplier has been predetermined
  • Requesting bids to obtain free advice
  • Making false promises
  • Proposals without authorization
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14
Q

What is the market research process?

A 
1 - Problem and objectives
2 - Building/Design the study, Choose research method
3 - selection of sampling procedure
4 - Collect data
5 - Data analysis
6 -  write and present report
7 - Follow up
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15
Q

What is exploratory research?

A

Research that is contracted fro a problem not yet properly defined.

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16
Q

What is descriptive research

A

It describes the characteristics of a population or phenomena

17
Q

What is causal research?

A

Attempts to describe a relationship between two variables

18
Q

What is primary research?

A

Research you have conducted yourself from (Focus groups, survey or one on one interviews)

19
Q

What is secondary research?

A

Research that has been collected by someone else

20
Q

What is a research request?

A

an internal document that describes a potential research document. (action, origin, information, use, targeting, logistics, comments)

21
Q

What is Qualitative research?

A

Method of inquiry employed to gather in-depth understand of human behavior and reasons why.

22
Q

What is Quantitative Research

A

This method is used to gather opinions in a structure way to produce statistical evidence. You must survey large numbers of people

23
Q

What are cross sectional surveys?

A
  • Provides insight on a matter in a specific moment in time (comparing age cohorts of genders)
24
Q

What are longitudinal surveys?

A
  • Provides insight on a matter over a period time using the same survey and sample. (I want to know your opinion about the government)
25
Q

What are some ways of collecting data?

A 
Survey
Interviews
Telephone
Mail
Internet
Observation
Machine
Experiments
26
Q

What is the importance of Focus groups?

A
  • use customer vocal
  • revelas info through emotions
  • Group dynamics is key
27
Q

What are the steps in focus groups?

A
  • Prepare the group
  • Select moderator
  • Conduct the group
  • Prepare report
28
Q

What makes a good moderator?

A
  • Genuine interest in people
  • acceptance and appreciation for differences in people
  • Good listening skills
  • Politely probe for reasons why
  • Think on feet
29
Q

Advantages of in-depth interviews?

A
  • No pressure from peers
  • respondent feels important
  • they attain heightened state of awareness
  • can have consecutive questions to just that person (laddering)
30
Q

Disadvantages of In-depth interviews

A
  • Expensive
  • Less client involvement
  • don’t cover much material in one day
  • no group discussion
  • very in-depth no breadth
31
Q

What is hermeneutic research?

A

Research that focuses on interpretation through conversations

32
Q

What is the Delphi method?

A
  • multi rounds of data collection
  • first round is unstructured
  • second/third round is questions consolidated from first round
33
Q

What is observation research?

A

systematic process of recording patterns of occurrences or behaviors with no communication with the people involved ex(mystery shopper)

34
Q

What are some types of observational research situations?

A
  • People watching people
  • People watching phenomena
  • Machines watching people
  • Machines watching phenomena
35
Q

What are the advantages of observation research?

A
  • You see what people actually do, rather than what they say they do
  • first hand information (less bias)
  • data can be executed quickly
36
Q

What are the disadvantages of observation research?

A
  • Not sure why they are doing what they are doing
  • sensitive nature of some topics make it impractical
  • can be expensive
37
Q

What is ethnographic observation research?

A

Studying human behavior in their natural context, goal is to gain insight.

38
Q

What is mystery shopping?

A

People who pose as customer and shop at company’s stores. collect data about the interaction. Compare other elements in environment too.

39
Q

What is machine observation?

A
  • Traffic counter
  • EEG
  • Galvanic skin responses
  • eye tracking
  • FACs
  • TV audience measurement
  • Rewards cards

SEM143 (5 decks)

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