Midterm stuff Flashcards
Marketing Research
Planning, Collection, Analysis of data relevant to marketing decision making and communication of results
Why marketing research
Helps understand external environment to make the right decisions for the marketing mix
What does marketing research provide
Data to the decision makers on current marketing mix and insights of potential changes and new opportunities
What is situation analysis
Studying the decision making environment within which the marketing research will take place
What is a marketing research problem
What is a symptom
When there’s a casual effect
What is a research design
Framework or blue print of for conducting the marketing research project
What is the purpose of designing a study
Tests the hypotheses of interest, determine possible answers to the research questions and provide the information needed for decision making
What is exploratory research
Preliminary research conducted to increase understanding of a concept, clarify exact nature of the problem and identify important variables to be studied
What does exploratory research provide
Insights into and comprehension of a situation or issue and is often done in early stages
What are appropriate data collection methods
Qualitative methods
Secondary data
What is conclusive research
Allows for concussions to be draw about which action can be taken
What is descriptive research
Appropriate primary data collection methods
What is cross sectional
Obtaining information from a sample of respondents belonging to the population of interest
What is single cross section
Can be collected one or through multiple samples
What is longitudinal
Obtaining information from fixed sample of respondents at periodic intervals
What is causal research design
An experimental in nature and demonstrates cause and effect conclusively
What is quant
Rank the most important characteristics of good service
What is a focus group useful for
Understanding peoples motivations and feelings
What is the use of focus groups
New product development
Positioning studies
Habits and usage studies
Attitude studies
Ads
Idea generation
What are the abuses of focus groups
- Generating data that they are not intending to
- Implementing more than necessary
What are projective techniques
Presentation of an ambiguous, unstructured object, activity or person that a respondent is asked to interpret and explain
What are types of projective techniques
Word association
Completion tests
Picture interpretation
Third person techniques
Role playing
What is ethnography
Study of human social phenomena and communities
What are observational methods
Systematic process of witnessing and recording the behavioral patterns of objects, people and events without directly communicating with them
What are advantages of observational research
Natural environment
No recall error
Sometimes the only way
What are disadvantages of observational research
Representativeness
Subjective interpretation by observer
No ability to know why people are engaging in the behaviors
What is survey research
Enable quantification of opinions, preferences and attitudes
What is brand loyalty
Consumers loyal to a brand
What are the concepts of being loyal to a brand
- Psychological commitment
- Purchase history
- Repurchase intentions
- Future purchase levels
- Perception of competitive advantage
- Satisfaction
What is measurements
Assigning numbers to a concept where the numbers convey some useful information about the concept
What does useful information mean
Numbers reflect the amount of an important attribute possessed by a person, object or event
What is scaling
Creation of a continuum on which the measured concept is located
What are the different basic scales
Nominal data
Ordinal data
Interval data
Ratio Scale
What is nominal data
Numbers serve as labels to identify and classify objects
What is ordinal data
Ranking scale, indicate relative positions of objects
What is interval data
Allows the differences between objects to be compared arbitrary zero point
What is ratio scale
Fixed zero point so ratios between objects can be compared
What are the rules with nominal scale
No necessary relationships among categories
No ordering or spacing implications
What are the rules around interval scale
Intervals between points are equal
Differences ca be compared
Arbitrary zero
What is a ratio scale
Type of scale with meaningful zero point
What are permissible statistics
Count/frequencies, mode, mean, sd
What are the most common measurement scales
Likert scales
Semantic differential scales
What are likert scales
Rate degree of agreement with carefully selected series of statements ranging from very positive to very negative attitudes for an object
What are semantic differential
Series of bipolar scales, poles, usually labeled with adjectives of opposite meaning
What are the criteria for assessing scale quality
- Reliability
- Validity
- Sensitivity
What is reliability
Ability to scale to obtain a consistent measure of an object
What is validity
The ability of a scale to measure the desired object
What is sensitivity
The ability to discriminate between respondents who differ with respect to the attitude being measured
