Market Research

Question 1

Types of Research Methods. Numbers. Correlational and exponential, narrow, specific questions.

Answer 1

Quantitative

Question 2

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.

Answer 2

Qualitative

Question 3

Types of Research Methods. Researched designed and done by you

Answer 3

Primary

Question 4

Types of Research Methods. Using information that others have put together

Answer 4

Secondary

Question 5

Research Methods division. Focus groups, in depth interviews, observations

Answer 5

Exploratory Research

Question 6

Research Methods division. Longitudinal studies, cross section surveys

Answer 6

Descriptive Research

Question 7

Research Methods division. Correlations, experiments

Answer 7

Casual Research.

Question 8

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”

Answer 8

Focus Groups

Question 9

Goal of ___ ___: to predict what consumers want, not what we think they want.

Answer 9

Market Research

Question 10

__ 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

Answer 10

Market Research: Pepsi vs Coke

Question 11

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.

Answer 11

Definition of market research

Question 12

Basic vs Applied. Looks for general relationships between variables, and isnt situation specific.

Answer 12

Basic market research.

Question 13

Basic vs Applied. Looks at one relationship in a specific situation.

Answer 13

Applied market research.

Question 14

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.

Answer 14

BO - Business Objectives and decisions

Question 15

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.

Answer 15

Research Objectives

Question 16

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?

Answer 16

Information to get from the client previous to market research

Question 17

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.

Answer 17

Interaction w/ Client, what are you looking for?

Question 18

___ ___ 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

Answer 18

Focus Group Design

Question 19

___ ___ 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.

Answer 19

Focus Group Design

Question 20

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)

Answer 20

In-depth interviews.

Question 21

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.

Answer 21

Projective Tests

Question 22

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

Answer 22

Observation

Question 23

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

Answer 23

Longitudinal studies

Question 24

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

Answer 24

Surveys

Question 25

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.

Answer 25

Correlations

Question 26

Why don’t —- = ___? Variable A could cause B, B could cause A, or a third factor could cause both. “linked” = not real

Answer 26

Correlation does not equal causation

Question 27

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.

Answer 27

Experiments

Question 28

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.

Answer 28

Random Assignment

Question 29

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.

Answer 29

Consumer Behavior and research