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Marketing Research > Marketing Research Process (W2) > Flashcards

Marketing Research Process (W2) Flashcards

1
Q

Outline the market research process

A
  1. Identify problem/ state research objectives
  2. Create research design
  3. Choose research method
  4. Select sampling procedure
  5. Collect data
  6. Analyse data
  7. Write and present report
  8. Follow-up
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2
Q

Explain

1. Identify problem/ state research objectives

A 
Recognise problem 
Why is information wanted?
Understand the environment 
Make research problem 
Does the information already exist? 
State objectives
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3
Q

Market opportunity

A

A situation that makes some potential competitive advantage possible

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4
Q

Market problem

A

A situation that makes some negative consequence likely

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5
Q

Explain

Why is information being sought?

A

What information will be used for?

What decisions will be made?

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6
Q

What process do you do to understand the decision-making environment?

A 
Understand company/ market/ industry 
Exploratory research 
Pilot study 
Survey 
Secondary data
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7
Q

Symptom

A

A phenomenon that occurs because of the existence of something else

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8
Q

Management decision problem

A

A statement specifying the type of managerial action required to solve the problem

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9
Q

Marketing research problem

A

specifies what information is needed to solve the problem and how that information can be obtained efficiently and effectively

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10
Q

Marketing research objective

A

goal statement defining the specific information needed to solve the marketing research problem

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11
Q

Research question

A

what is the demographic, geographic and psychographic profile of the credit unions depositors, investors and mortgage holders?

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12
Q

Research objective

A

to determine the demographic, geographic and psychographic profile of the credit unions depositors, investors and mortgage holders

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13
Q

Hypothesis

A

an assumption or theory that a researcher or manager makes about some characteristic of the population being investigated

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14
Q

Null hypothesis

A

there is no difference between variables

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15
Q

Explain:

2. Creation of research design

A

Plan for addressing research objectives/ hypothesis

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16
Q

Descriptive studies

A

research studies that answer the questions who, what, when, where and how

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17
Q

Casual studies

A

research studies that examine whether the value of one variable causes or determines the value of another variable

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18
Q

Dependent variable

A

a concept expected to be explained or influenced by the independent variable

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19
Q

Independent variable

A

a concept over which the researcher has some control and that is hypothesized to cause or influence the dependent variable

20
Q

Temporal sequence

A

an appropriate casual order of events

21
Q

Concomitant variation

A

the degree to which a presumed cause and a presumed effect occur or vary together

22
Q

Spurious association

A

a relationship between a presumed cause and a presumed effect; that occurs as a result of an unexamined variable or set of results

23
Q

Secondary data

A

gathered for some purpose other then the one in hand

24
Q

Experience survey

A

discussions with knowledgeable individuals, both inside and outside the organization, who may provide insights into the problem

25
Q

Case analysis

A

reviewing information from situations that are similar to the current one

26
Q

Focus groups

A

in depth discussions, usually consisting on 8-12 participants, which are led by a moderator and are generally limited to one particular concept

27
Q

Methods of exploratory research

A 
Expert survey 
Pilot survey 
Secondary data 
Experience survey 
Case analysis 
Focus groups 
Qualitative interviews 
Unstructured observations
28
Q

Conclusive research

A

to describe specific phenomena, to test specific hypotheses and examine relationships; more formal and structured. Based on large representative samples

29
Q

Methods of conclusive research

A 
Survey
Secondary data 
Databases
Panels 
Structured observation 
Experiments
30
Q

Methods for collecting data

A 
Surveys
Observations 
Experiments 
Depth interviews 
Focus groups 
Projective techniques
Ethnography 
Secondary data
31
Q

Survey

A

interviewer interacts with respondents to obtain facts, opinions and attitudes (except in mail, internet and mobile survey)

32
Q

Observations

A

monitors respondents’ actions without direct interaction

33
Q

Experiments

A

Measure causality in which researcher changes one or more independent variables and observes the effect of the changes on the dependent variable

34
Q

Depth interview

A

Face-to face interview which provides maximum probing; great depth on a topic

35
Q

Projective techniques

A

Involve the use of an ambiguous stimulus that an individual is asked to describe, expand on or build a story around

36
Q

Ethnography

A

Involves participant observation; studying human behaviours in its natural setting; interactions; reactions to events and experiences

37
Q

Sampling

A

involves any procedure that draws conclusion based on measurements of a portion of the entire population

38
Q

Sample

A

a subset from a larger population

39
Q

Population of interest

A

group of where the sample will be drawn; includes all people whose opinions, behaviours, preferences, attitudes etc. will yield the information needed to answer the research questions

40
Q

Probability sampling

A

A sampling technique in which every member of the population has a known nonzero probability of selection

41
Q

Non-probability sampling

A

A sampling technique in which units of the sample are selected on the basis of personal judgment or convenience the probability of any particular member of the population being chosen is unknown

42
Q

Data analysis

A

application of reasoning to understand the data that have been gathered; determining consistent patterns and summarising the relevant details revealed

43
Q

Raw data

A

survey questionnaires; interview or participants observation notes, recording (audio or visual)

44
Q

Editing

A

checking the data collection forms for omissions, legibility and consistency in classification, correcting problems before transferring to the computer

45
Q

Transcribing

A

Audio files are generated into transcripts for analysis

46
Q

Coding

A

establishing rules for interpreting, categorizing, recording and transferring the data to the data storage media

47
Q

Explain

6. analysing data

A

Raw data
Editing
Transcribing
Coding

Marketing Research (10 decks)

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