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Marketing > Marketing Research > Flashcards

Marketing Research Flashcards

1
Q

What is market research

A

It is the research taken to understand markets aka customers, channels and competitors

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2
Q

What is marketing research

A

Research taken about the efficacy of marketing activities like pricing and supply chain activities

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3
Q

What are customer insights

A

Knowing your customers

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4
Q

What is big data

A

Systematically analyze high volume highly volatile and highly varied data

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5
Q

What is marketing analytics

A

Analyze mathematical patterns in the market such as sales and activities

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6
Q

Is consumer insight research more commin un b2b or b2c

A

B2c

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7
Q

When is a customer insight process most valuable

A

When it is rare, difficult to imitate and useful for management decisions

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8
Q

What should CEOs and CMOs do to affectively implement consumer insights

A

Provide the necessary resources for proper research and act upon evidence and not preconceptions

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9
Q

How should researchers act to effectively implement customer insights

A

As problem solvers not reporters and give concrete ways to implement their findings

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10
Q

What is a marketing research brief

A

A brief outline if a clients marketing problem to a marketing research firm

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11
Q

I hat is most often included in a market research brief

A

A summary of the company and its offerings, a statement if why research is needed and what decision the research will inform. It also includes a detailed list if information needed, schedule and scope

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12
Q

What is a good marketing research question

A

A question outlining the problem of the marketer that can be subdivided int smaller questions

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13
Q

What is a research proposal

A

A detailed outline if how a research agency will investigate a problem

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14
Q

What types of research objectives are there in business research

A

Exploratory, descriptive and causal

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15
Q

What is exploratory research

A

Develop hypothesis of new concepts when little is known about a management problem

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16
Q

What is descriptive research

A

Accurately describe variables considered

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17
Q

What is causal research

A

To research if a variable causes an effect in another variable

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18
Q

What is primary research

A

Research conducted for the first time

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19
Q

What is desk research

A

Gaining access yo previous research aka secondary research

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20
Q

How is primary and desk research commonly conducted

A

First desk and then fill in knowledge gaps with primary

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21
Q

How is qualitative data often obtained

A

Interviews, observations and focus groups to get an idea of underlying meaning. Popular in exploratory research

22
Q

What distinguishes quantitative research

A

They use organized and structured procedures as well as a large amount of tests and data to answer specific questions

23
Q

How is quantitative business research commonly conducted

A

Through survays

24
Q

How do you determine the validity and reliability of the test results

A

You check for statistical errors and sample bias

25
Q

Bow may you test the validity and external reliability of research results

A

Through multiple tests aka the test retest strategy if at different times or split half strategy if two tests at ones

26
Q

What is a face validity test

A

Yo read research results critically

27
Q

What is the difference between market, research and testing

A

Market research researches attitudes in the market through surveys while market testing puts these ti the test using a test market

28
Q

What are the five types of data sources

A

Public data, private data, data exhausts, community data and self quantification data

29
Q

What is public data

A

Data held by public authorities

30
Q

What is private data

A

Data held by private entities that cannot be ascertained from public sources

31
Q

What is data exhaust

A

Information generated through everyday actions like search data

32
Q

What is community data

A

Unsorted raw data like social media reviews that concern social trends

33
Q

What is self quantification data

A

Data generated by people reviewing themselves

34
Q

What should you think of when making research questions for other cultures

A

Conceptual, functional, measurement, sampling, data collection and translation equivalence in the interview questions

35
Q

What ways are there to conduct market research

A

You can do it in house, hire researchers, go via a trade association or study official statistics

36
Q

Name some sources of official statistics

A

Eurostat, scb, national accounts and household expenses

37
Q

What is the difference of knowledge in social science and natural science

A

In natural science there is a hard truth while social science is more open for different interpretations. Social constructs etc

38
Q

What is ontology

A

The study of knowledge

39
Q

How does realists look at the social world

A

As something objective and external that exists independent of actors

40
Q

How do idealists look at the social world

A

As something that is constructed by the actors in it

41
Q

How do positivists learn about the world

A

Use established theory to construct a hypothesis that can be tested. Research objective cause and effect

42
Q

How do hermeneutics learn about the social world

A

They interpret the subjective meaning of social actions

43
Q

What are type of research is preferred by positivists

A

Quantitative studies

44
Q

How do you evaluate qualitative studies

A

Is it credible and relevant, is your results similar to others, is it dependable aka sufficiently backed up with data and is it confirmable through links between the data and conclusions that others can understand

45
Q

When should should you employ a quantitative study

A

When you know what to study and need information about something specific and important

46
Q

When should you employ qualitative studies

A

When identifying new challenges, when there are complex dynamic contexts and when exploring large social changes

47
Q

Name some methods of data collection

A

Primary or secondary collection, document studies and literature review

48
Q

What is co-shopping

A

Join a customer and chat while they shop to gain insight about their experience

49
Q

What is a netnograohy

A

An ethnography on the internet detailing the dreams ideas and complaints of a group online

50
Q

Explain an attitude survay

A

Ask consumers to rank their attitudes in a scale

Marketing (17 decks)

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