Marketing Research (Test 1) Flashcards
Basic Research
Research to understand consumer behavior or marketing in general
Academic research on consumer decision making
Applied Research
Research directed at a specific problem at a specific organization
Corporate research for designing ads, design products, segmenting consumers
Primary Data
Collected for a specific purpose
Could be internal or external
Secondary Data
Collected for other purposes
Secondary data, then primary data
Focus Groups
A form of in-depth interview involving 6 to 10 consumers
Used to find what people want through a small people
Cannot generalize too much
Observation Research
The technique which researchers observe how consumers behave in real-world surroundings
Can be natural or artificial
Test market
Studies the effectiveness of one or more elements of the marketing mix evaluating sales of the product in an actual market
What is the purpose of experiments?
Helps determine causality
Correlation
Relationship between two variables
Causation
One variable producing an effect in another variable
3 Factors Necessary For Causation
Correlation
Temporal antecedente - one thing before the other
No third factor driving the result
Spurious Correlation
Lots of things are correlated, but don’t affect each other
