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MKT214 > Marketing Research and Consumer Insight > Flashcards

Marketing Research and Consumer Insight Flashcards

1
Q

What is it?

A

Specific marketplaces and describes people in them.

Assists management function - fine-tune marketing mix.

Gathering and interpreting information - gain insight and support decision making.

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2
Q

Research Types: Applied

A

Solves a problem, e.g. why are sales decreasing?

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3
Q

Research Types: Basic

A

Solves theoretical need, e.g. why do people shop?

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4
Q

Uses of Marketing Research: Segmentation

A

Product purchased, lifestyle, demographics etc.

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5
Q

Uses of Marketing Research: Competitor Analysis

A

Strategies, strength, limitations etc.

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6
Q

Uses of Marketing Research: NPD

A

New concepts, replacements, appeal etc.

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7
Q

Uses of Marketing Research: Pricing

A

Value, demand - what will people pay?

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8
Q

Uses of Marketing Research: IMC

A

Effectiveness, attitudinal research - do people get the message?

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9
Q

Primary vs. Secondary Data

A

Primary = Originates from researcher for specific purpose.

Secondary = Previously gathered for a different purpose.

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10
Q

Types of Secondary Data: Internal

A

Ready to use, requires further processing.

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11
Q

Types of Secondary Data: External

A

Published material, e.g. computerised database.

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12
Q

Internal Data: Examples

A

Marketing Databases - Email mailing lists.

CRM Systems - Tesco Clubcard.

Website Analysis - What are people visiting and clicking the most?

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13
Q

Internal Databases

A

Collection of data from within the company, e.g. MyCoke by Coca-Cola.

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14
Q

Internal Databases: How?

A

Stakeholder Details - customers, employees.

Salesperson call report - cold callers.

Sales and Transactional data.

Customer service feedback and reports.

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15
Q

Internal Databases: Benefits

A

Build customer profiles - consumer segments.

Like a big laboratory - sales promotions.

Refiine the marketing process - measure response to promotions.

Understand gaps in knowledge - knowing what people buy but not why?

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16
Q

External Secondary Data

A

From sources outside the organisation - usually from business sources, e.g. newspapers and books, and from the government.

Also from indexes and statistics, e.g. Datamonitor and Mintel - the Yellow Pages of Market Research.

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17
Q

Syndicated Secondary Data

A

Information services from marketing research organisatons - common database, by subscription.

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18
Q

Syndicated Seconary Data: Examples

A

Panel/Omnibus Survey - not for specific purpose.

Electronic Scanner Panels.

General Research Reports - Keynote and Mintel.

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19
Q

Exploratory Research Design

A

Develop initial ideas, used to find things out. Not generalisable, small sample.

Used when little is known.
To gain background information.
Define terms.
Clarify problems.
Establish research priorities.
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20
Q

Conclusive Research Design

A

Evaluate alternative courses of action, measure and monitor. Used after exploratory research.

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21
Q

Descriptive Research

A

Type of conclusive research, a description of something. Who, where, when, how, but not what.

Focus on evaluating alternative actions and measuring organisational performance.

22
Q

Cross-Sectional Research

A

Collection of information only once, e.g. effect or music on shoppers.

23
Q

Longitudinal Research

A

Fixed sample over a long time. Illustrate situation and changes over a period.

24
Q

Casual Research

A

Cause-and-effect relationships. Impact of variables on eachtother. Cause = independent, effect = dependent.

25
Q

Qualitative Research Methods: Focus Groups

A

Trained moderator, 6-12 people, unstructured and natural.

26
Q

Qualitative Research Methods: In-Depth Interviews

A

Unstructured, single respondent, skilled interviewer, motivations and attitudes about a single topic.

27
Q

Qualitative Research Methods: Observation

A

Covert and Overt, primary data gathering, actions are observed.

28
Q

Quantitative Research Methods: Survey

A

Structured questionnaire, large sample of population, for specific information.

29
Q

Survey: Types

A

Personal - Home, mall intercept.

Telephone - Person to person, computer aided.

Mail - Postal.

Electronic - Email, online.

Most expensive top to bottom.

30
Q

Sampling

A

Strategic selection of participants, less cost and time than looking at everyone.

Random Sampling - see level of participation, calculate non-response.

31
Q

Sampling: Population

A

Aggregate of all elements, common characteristics, purpose of the research.

32
Q

Sampling: Census

A

Complete enumaration of the elements of a population.

33
Q

Sampling: Sample

A

Subgroup of the population selected for participation in the study.

34
Q

Sampling: Sampling Frame

A

List of population elements, a list to determine the population.

35
Q

Sampling Process

A

Elements that process the information sought by the researcher - some bases would be:

Geographical area.
Demographic.
Usage awareness.

36
Q

Sampling Frame: How?

A

Drawn from:

Electoral register.
Postcode.
Telephone directory.
Specialised consumer lists.
Random-digit dialling lists.
Customer or member lists.
37
Q

Sampling Frame: Considerations

A

Who is not included? How does this affect representativeness? It may be that there is no sampling frame for your population - this is common. Must formulate a procedure to generate your own - e.g. loyalty cards.

38
Q

Sampling Method: Probability Sample

A

Every element of the population has a non-zero likelihood of being selected.

Sample is representative, can calculate sampling error, project results to entire population.

Can be expensive and time consuming - often not possible to do.

39
Q

Sampling Method: Non-Probability Sample

A

Not an equal probability of selection.

40
Q

Probability Sample: Examples

A

Simple random sampling.
Cluster sampling.
Systematic sampling.
Stratified sampling.

41
Q

Non-Probability Sample: Examples

A

Convinience sampling.
Judgemental sampling.
Quota sampling.
Snowball sampling.

42
Q

Sample Size Methods: Census

A

Asking the entire population.

43
Q

Sample Size Methods: Judgement

A

The best guess of experts, or from experience.

44
Q

Sample Size Methods: Conventional

A

Similar sample to what others have done previously.

45
Q

Sample Size Methods: Arbituary

A

Industry accepted sample - Pick ‘X’ percentage to be in the sample.

46
Q

Sample Size Methods: Cost Basis

A

What can you afford the sample to be?

47
Q

Data Analysis and Interpretation: Descriptive

A

One variable - means, frequency and standard deviation.

48
Q

Data Analaysis and Interpretation: Comparative

A

Two variables - cross-tabulations, t-test, anova.

49
Q

Data Analysis and Interpretation: Further Analysis

A

Correlation and regression.

50
Q

Marketing Information Systems

A

Information is gathered, stored, analysed and distributed to managers when they need it. Planned basis.

Build on the information needs - taken when, where and in the form it is needed.

MKT214 (5 decks)

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