MKTG 322 Exam 1 - FLASHCARDS - Developing consumer behavior
What is analysis of archival data?
Patterns in a data between variables, across platforms, over time. Inside or outside a company
Why do we do experiments?
To learn, discover new information, and test an existing theory for a cause and effect relationship
Does correlation mean causation?
No
What is an experiment?
A scientific procedure undertaken to test a hypothesis and establish a causal relationship. It involves a study where participants are randomly assigned to different groups
What are the pros of lab experiments?
Controlled setting
What are the cons of lab experiments?
• Informed consent
• Lack of realism
• Incentives might be too small
What are the pros of field experiments?
• Large and scalable
• Real-world stakes
What are the cons of field experiments?
• Contamination
• Noise
What are requirements for experiments?
- Outcome variable(s)
• What are you trying to change? - Experimental variable(s)
• How will you create that change? - Hypothesis: a testable prediction!
- Participants
• Sample size (50+ per group)
• Random assignment
What is a main effect experiment?
Two or more groups across one factor
*has one experimental variable but that variable can be experimented with in different ways (font: red, blue, purple, etc.)
What do surveys describe?
• Consumer sentiment or satisfaction
• Brand perception
• Service feedback
Gym membership application was an example of…
a properly conducted experiment
Control v. Treatment Condition
Control = way it already is
Treatment = way/thing I am trying out instead
What is the 2X2 framework?
Two factors w/ two groups each
*Two experimental variables, each with a control & treatment condition = four groups to experiment with (font: red or black AND bold: yes or no)
- Field Experiments
- Lab Experiments
- Surveys
- Analysis of archival data
- In-depth Interviews
- Focus groups
Which research tools show causality; which ones show correlation?
Field and lab experiments show causality. Surveys, archival data, in depth interviews, and focus groups show correlation
What are the cons of surveys?
-limitations from wording/leading
- only provides correlation, not causality
What does analysis of archival data describe?
patterns of data between variables, across platforms, over time
What is the limitation of archival data?
correlation, not cause
What do in depth interviews describe?
individual interview & can study non-verbal communication
