marketing ch.8 Flashcards
Marketing Research
the process of defining a marketing problem/opportunity and systematically analyzing info to recommend actions
5 step process
define the problem, develop research plan, collect info, develop findings, take marketing action
Define the problem
set objectives, identify possible actions
Exploratory research
when defining the problem, provides ideas about relatively vague problem
Descriptive research
when defining the problem, trying to find the frequency that something occurs or extent of a relationship
Causal Research
when defining the problem, most sophisticated research. Tries to determine the extent to which the change in one factor changes the other
Measures of Success
criteria used in evaluating proposed solutions (ex. amount of time child plays with toy)
Constraints
restrictions placed on potential solutions
Constraints
restrictions placed on potential solutions
Concepts
ideas about the products/services used to get reactions
Concepts
ideas about the products/services used to get reactions
Methods
approaches that can be used to collect data to solve all or part of a problem
Methods
approaches that can be used to collect data to solve all or part of a problem
Collect Relevent Info
Obtain Secondary Data
Obtain Primary Data
Collect Relevent Info
Obtain Secondary Data
Obtain Primary Data
Secondary Data
Facts/figures that have already been recorded before
Secondary Data
Facts/figures that have already been recorded before
Internal/External data
internal: marketing inputs and outcomes. External is thigns like census
Internal/External data
internal: marketing inputs and outcomes. External is thigns like census
Primary Data
facts/figures collected for the project
Primary Data
facts/figures collected for the project
Observational data
obtained by watching people in some way
Observational data
obtained by watching people in some way
Mechanical Methods
Type of obeservational data gathering. like TV measurer
Mechanical Methods
Type of obeservational data gathering. like TV measurer
Personal Methods
type of observational data gathering. like the mystery shopper
Personal Methods
type of observational data gathering. like the mystery shopper
Neuromarketing
type of observational data gathering used when analyzing brain
Neuromarketing
type of observational data gathering used when analyzing brain
Individual Interviews
for idea generation. single researcher, one respondent
Individual Interviews
for idea generation. single researcher, one respondent
Depth interviews
for idea generation.researchers ask lengthy free flowing kinds of questions
Depth interviews
for idea generation.researchers ask lengthy free flowing kinds of questions
Focus Groups
for idea generation. 6-10 customers
Focus Groups
for idea generation. 6-10 customers
Idea evaluation methods
mostly questionaires
Idea evaluation methods
mostly questionaires
Open ended questions
allows respondents to express in own words
Open ended questions
allows respondents to express in own words
closed ended questions
requires respondents to select from optiomns
closed ended questions
requires respondents to select from optiomns
Dichotomous question
yes/no
Dichotomous question
yes/no
scales
answer 1-10
scales
answer 1-10
semantic differential scale
five point scale, opposite ends=opposite meanings
semantic differential scale
five point scale, opposite ends=opposite meanings
likert scale
stronglt agree–>strongly disagree
likert scale
strongly agree–>strongly disagree
Panel
samples of customers/stores used to take measurements
Information TEchnology
operating computer networks that store/process data
Data mining
the extraction of hidden predicitive info from large databases to find links between consumer purchasing powers and marketing actions
Develop Findings
analyze data, present findings
take marketing actiosn
make action recomendations, implement action, evaluate results
Sales forecast
total sales of a product that a firm expects to sell during a specified time period under specified conditions and its own marketing efforts
Direct forecast
estimatinghte value without intervening steps
lost horse forecast
starting with last know value, listing the factors, +/- effect? final forecast
survey of buyer intentions forecast
ask prospective customers if they are likely to buy the product
salesforce survey forecast
asking the firms salespeople to estimate
