Market Research Flashcards
Types of Research Methods. Numbers. Correlational and exponential, narrow, specific questions.
Quantitative
Types of Research Methods. in depth experience of a few people. Nitty gritty BUT only one person. (Interviews, case studies) Useful up front, when you don’t know what the consumers want.
Qualitative
Types of Research Methods. Researched designed and done by you
Primary
Types of Research Methods. Using information that others have put together
Secondary
Research Methods division. Focus groups, in depth interviews, observations
Exploratory Research
Research Methods division. Longitudinal studies, cross section surveys
Descriptive Research
Research Methods division. Correlations, experiments
Casual Research.
Exploratory Research. 8-12 participants with a moderator who guides the discussion. Need a moderator so the group doesn’t fall into groupthink. Conversationally based, make sure everyone speaks, use props/imagination. Establish rapport immediately with an icebreaker. Can be “conversation” “activity based” or “moderated Q&A”
Focus Groups
Goal of ___ ___: to predict what consumers want, not what we think they want.
Market Research
__ vs __. P marketed itself as the “youth” cola, then the other came out with a NEW c, but c underestimated the power of brand preference and emotional attachment to c. Marketing is not just about the quality of the product, but also pre-existing attitudes. End result, c was forced to bring back its original brand formula with “classic”, increased c’s loyalty
Market Research: Pepsi vs Coke
Def of ___ ____. Systematic process of planning, collecting and interpreting data & info relevant to marketing problems and consumer behavior. Provides marketers with relevant info for making decisions, reducing uncertainty, improving profits & developing consumer insights.
Definition of market research
Basic vs Applied. Looks for general relationships between variables, and isnt situation specific.
Basic market research.
Basic vs Applied. Looks at one relationship in a specific situation.
Applied market research.
Learning Plan Contents BO - pick 3 key information pieces, use backward market research, take the people who like your product then figure out why they like it.
BO - Business Objectives and decisions
Learning Plan Contents. RO. 3-5 major topics/objectives, with three sub-bullets for each. Specific activity on specific segment/sample, specific information needed. How info is used/ the decisions made is the connection to the business objectives.
Research Objectives
The Learning plan - Interaction with the client. Circumstances? Stakeholders? Decisions you’ve already made? Management want to learn? Specific info requests? Research report look like? What is most important? 2nd? 3rd?
Information to get from the client previous to market research
Interaction w/____, what are you looking for? RO/importance (sample RO/target segment), how RO relates to BO: how will info be used, what does this say about the nature of information we need to provide.
Interaction w/ Client, what are you looking for?
___ ___ Design. Tips for Q & A: General questions before specific questions, behavior before attitude (behavior is when someone actually buys your product), pos before neg questions (5 pos questions needed to outweigh 1 neg), unaided before aided (hear what the consumers think first), identify activity timing, set limits for transitions/topics
Focus Group Design
___ ___ Design - Screeners and sample. FG is intentionally biased, want small samples, group interactions and screener limitations. Desire: able to have more meaningful conversations, what we say and others hear can be very different, so you must use active listening and clarifying, include target segments (buyer, user, influencer), manage sensitive topics.
Focus Group Design
Exploratory research. __ - ___ _____. One on one interview that is 1+ hour. Trained interviewer, useful for sensitive or emotionally charged topics, limitations: time consuming and costly (paying interviewers and participants for their time)
In-depth interviews.
Exploratory research. __ __. Freud (unconscious) Ambiguous stimuli that allows participants to project their underlying beliefs/ thoughts/ feelings. Word association/construction or expression tests. Limitations: Time consuming, awkward to code, subjective interpretations. Picture sort, archetypes, storytelling, letter writing, role playing, qualitative perceptual mapping.
Projective Tests
Exploratory research. ____. Observe people and systematically record measurements/their behavior. Did you know that people hang out in grocery stores and watch customers? Obtrusive vs unobtrusive (cameras). Useful to see what consumers actually do, limitations: hard to implement and quantify, open to bias, can’t access participants thoughts
Observation
Descriptive research. __ ___. A panel followed over the course of time, data collected systematically. True panel: repeated measurements of static variables over time (scanner data) Omnibus panel: varied measurements of different variables over time, Limitations: expensive, attrition
Longitudinal studies
Descriptive research. __. A structured set of questions, useful for collecting specific info from large groups of people. Limitation: bias can occur via wording, interviewer bias, or social desirability
Surveys
Casual research. Observe the relationships between two or more variables. Study issues that are otherwise impossible or unethical… efficient, allow researchers to collect more info and test more relationships. Limits: cannot conclude a causal relationship.
Correlations
Why don’t —- = ___? Variable A could cause B, B could cause A, or a third factor could cause both. “linked” = not real
Correlation does not equal causation
Casual research. _____ can determine causality, or direction. Manipulation of one or more variables as long as your hold all things constant except variables of interest. IV and DV and constants. Must use random assignments.
Experiments
You can’t see the change in variables unless you use ___ _____. Keeps the data static, each participant in the sample has the same chance of being placed in a different condition. Allows you to pinpoint your change to x. Necessary to establish causality. Individual differences will be cancelled out.
Random Assignment
Research should only be conducted when it is worth the cost… should be useful in making specific decisions (size/price of the product). Always use the more flexible method before less flexible methods.
Consumer Behavior and research
