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Bus 345 > Midterm stuff > Flashcards

Midterm stuff Flashcards

1
Q

Marketing Research

A

Planning, Collection, Analysis of data relevant to marketing decision making and communication of results

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2
Q

Why marketing research

A

Helps understand external environment to make the right decisions for the marketing mix

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3
Q

What does marketing research provide

A

Data to the decision makers on current marketing mix and insights of potential changes and new opportunities

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4
Q

What is situation analysis

A

Studying the decision making environment within which the marketing research will take place

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5
Q

What is a marketing research problem

A
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6
Q

What is a symptom

A

When there’s a casual effect

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7
Q

What is a research design

A

Framework or blue print of for conducting the marketing research project

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8
Q

What is the purpose of designing a study

A

Tests the hypotheses of interest, determine possible answers to the research questions and provide the information needed for decision making

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9
Q

What is exploratory research

A

Preliminary research conducted to increase understanding of a concept, clarify exact nature of the problem and identify important variables to be studied

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10
Q

What does exploratory research provide

A

Insights into and comprehension of a situation or issue and is often done in early stages

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11
Q

What are appropriate data collection methods

A

Qualitative methods
Secondary data

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12
Q

What is conclusive research

A

Allows for concussions to be draw about which action can be taken

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13
Q

What is descriptive research

A

Appropriate primary data collection methods

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14
Q

What is cross sectional

A

Obtaining information from a sample of respondents belonging to the population of interest

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15
Q

What is single cross section

A

Can be collected one or through multiple samples

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16
Q

What is longitudinal

A

Obtaining information from fixed sample of respondents at periodic intervals

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17
Q

What is causal research design

A

An experimental in nature and demonstrates cause and effect conclusively

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18
Q

What is quant

A

Rank the most important characteristics of good service

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19
Q

What is a focus group useful for

A

Understanding peoples motivations and feelings

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20
Q

What is the use of focus groups

A

New product development
Positioning studies
Habits and usage studies
Attitude studies
Ads
Idea generation

21
Q

What are the abuses of focus groups

A
  • Generating data that they are not intending to
  • Implementing more than necessary
22
Q

What are projective techniques

A

Presentation of an ambiguous, unstructured object, activity or person that a respondent is asked to interpret and explain

23
Q

What are types of projective techniques

A

Word association
Completion tests
Picture interpretation
Third person techniques
Role playing

24
Q

What is ethnography

A

Study of human social phenomena and communities

25
Q

What are observational methods

A

Systematic process of witnessing and recording the behavioral patterns of objects, people and events without directly communicating with them

26
Q

What are advantages of observational research

A

Natural environment
No recall error
Sometimes the only way

27
Q

What are disadvantages of observational research

A

Representativeness
Subjective interpretation by observer
No ability to know why people are engaging in the behaviors

28
Q

What is survey research

A

Enable quantification of opinions, preferences and attitudes

29
Q

What is brand loyalty

A

Consumers loyal to a brand

30
Q

What are the concepts of being loyal to a brand

A
  • Psychological commitment
  • Purchase history
  • Repurchase intentions
  • Future purchase levels
  • Perception of competitive advantage
  • Satisfaction
31
Q

What is measurements

A

Assigning numbers to a concept where the numbers convey some useful information about the concept

32
Q

What does useful information mean

A

Numbers reflect the amount of an important attribute possessed by a person, object or event

33
Q

What is scaling

A

Creation of a continuum on which the measured concept is located

34
Q

What are the different basic scales

A

Nominal data
Ordinal data
Interval data
Ratio Scale

35
Q

What is nominal data

A

Numbers serve as labels to identify and classify objects

36
Q

What is ordinal data

A

Ranking scale, indicate relative positions of objects

37
Q

What is interval data

A

Allows the differences between objects to be compared arbitrary zero point

38
Q

What is ratio scale

A

Fixed zero point so ratios between objects can be compared

39
Q

What are the rules with nominal scale

A

No necessary relationships among categories
No ordering or spacing implications

40
Q

What are the rules around interval scale

A

Intervals between points are equal
Differences ca be compared
Arbitrary zero

41
Q

What is a ratio scale

A

Type of scale with meaningful zero point

42
Q

What are permissible statistics

A

Count/frequencies, mode, mean, sd

43
Q

What are the most common measurement scales

A

Likert scales
Semantic differential scales

44
Q

What are likert scales

A

Rate degree of agreement with carefully selected series of statements ranging from very positive to very negative attitudes for an object

45
Q

What are semantic differential

A

Series of bipolar scales, poles, usually labeled with adjectives of opposite meaning

46
Q

What are the criteria for assessing scale quality

A
  1. Reliability
  2. Validity
  3. Sensitivity
47
Q

What is reliability

A

Ability to scale to obtain a consistent measure of an object

48
Q

What is validity

A

The ability of a scale to measure the desired object

49
Q

What is sensitivity

A

The ability to discriminate between respondents who differ with respect to the attitude being measured

Bus 345 (6 decks)

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