marketing research Flashcards
Descriptive Function
Gathering and presentation of statement of facts
Diagnostic function
Explanation of data or actions
Predicitve Function
Predict the results of a planned marketing decision
Marketing Research Process
Define, Forumalte, Select method, selected data, analyze, preseent results
Managemnt oriented decision making
What should the decison maker do
Marking research decison maker
What does the decison maker need to know? How should that information be be obtained?
Quanatative Research
Conducted affter the exploratory research to test specific hypotheses
Qualatative Research
Obtain broad insights about the problem, environment, and consumer rather than asnwer specific questions
methods:
focus groups, secondary data, observations
Descriptive Research
Typically quanatiatve methods
- survey methods, observational methods, consumer panels
Cross Sectional Data
Snapshots of a phenomena at one point
- very common for conclusive research methods
Lengitudianl Data
measure phenomena repeatedly over severl time periods
consmer panels- monitor performance for affixed sample measured repeatedly over time
Casual Research
Gathers evidence on cause and effect relationships through marketing experiemetns and survey methods
When NOT to conduct research
Results not meaningful to managers, insuffecient resources, descion already been made
Convience Sample
Not chosen at random
Probability
Chosen at random with equal chance
Sample
subset of the population
Secondary Data
existing data previously gathered for different purposes that you can utilize.
pros: faster and cheaper, address common problems
cons: lack of availability, lack of relevance
Primary Data
NEw data you collect for specific purposes
pros: actionable, determine accuracy
cons: more expensive, takes time
Advantages of secondary data
CHepaer, flexible, faster
benefits of qualatative methods
Deeper insight, ideation, unexpected discoviereis, brand positioning
What can a focus group accomplish
product design- get feedback on current products
brand management- understand emotions toward brand
MR feedback loop-
follow up on research
Focus Group
9-12 participants, environment, moderator, discussion guide
Goal of focus groups
Capture breadth of opinions
pros of focus groups
leverage group dynamics
quicker then surveys
direct research interaction
