Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Marketing Research > MR Test 1 > Flashcards

MR Test 1 Flashcards

1
Q

Market Research

A

systematic search to produce information about market characteristics, e.g., trends, size of the market, company, industry, country information

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Marketing Research

A

systematic research to aid marketing decisions

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Statistic

A

a single figure E.g., drowsiness contributes to 10,000 auto deaths a year.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Statistics

A

a collection of figures E.g., baseball stats

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

What is the process for Data to Decision?

A

Data (raw data)-> Process (gather, organize, analyze, interpret-> information -> processing the information -> decision

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

How is information used?

A

1) Managers use information to make decisions.

2) Managers use marketing information to make marketing decisions.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

How are statistics misused?

A

It all depends on how they are interpreted and presented.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

What are the 2 broad ares of statistics?

A

1) Descriptive statistics

2) Inferential statistics

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Descriptive statistics

A

gathers, organizes, analyzes, and presents numerical data.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Inferential statistics

A

main concern is to find out something about a population based on a sample taken from that population.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

What does N stand for?

A

Population

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Population

A

“N” Consists of all the individuals/ objects/ measurements we are interested in.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Census

A

A count or polling of the entire population

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Sample

A

A portion or subset or part of the population of interest “n”

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Sample Unit

A

refers to individual units or members of the sample

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

How should a sample be taken?

A

As a representative part of a population.

1) it should be selected from the population under study
2) The sample tries to estimate the population

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Variable

A

A measurable factor that changes, or varies

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Constant Variable

A

factor that does not change

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

Independent variable

A

a factor that causes or brings about a change (e.g., money spent on advertising)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

Dependent variable

A

a factor that is changed (by the independent variable) (e.g., sales)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

Variability

A

the amount of dissimilarity (e.g., in respondents’ answers to a particular question)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

Qualitative variable

A

the characteristic or variable being studied is nonnumeric in nature eg. Gender, religious affiliation, eye color, state of birth

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

Quantitative variable

A

when the variable can be reported numerically
eg. Balance in your checking account, ages of company presidents, life of a battery, speed of cars traveling on the Interstate, number of children in a family

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

Demographics

A 
Characteristics of the population under study
Age
Income
Gender
Family size
Occupation
Education
Religion
Socio-economic status
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

Reliable

A

one in which the same respondent responds in the same way to an identical or nearly identical question.

“I like the brand”
“I think it’s a good brand”
“I feel favorable toward the brand”

You’ve got to hit the dartboard consistently (reliability)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

Valid

A

the accuracy of the measurement; a valid measure is one that is truthful

“I like the brand”
“I’m very satisfied with the brand”

hit the bull’s eye (validity)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

Questions [on a survey]

A

need to be both reliable and valid

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
28
Q

Measurements have to be what two things?

A

Reliable and Valid

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
29
Q

Marketing

A

Marketing is the activity, set of institutions, and processes, for creating, capturing, communicating, delivering and exchanging offerings that have value for customers, clients, partners, and society at large

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
30
Q

The focus of marketing is?

A

Exchange

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
31
Q

Types of Exchanges?

A 
Commercial Exchanges
Exchange is the focus of marketing 
In a (commercial) exchange, people give up something of value to others, in order to receive something in return.
Monetary - Consumers give up money in order to obtain goods and services
Nonmonetary - Olden days – barter – exchanged one item of value for another (no money involved)
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
32
Q

The Marketing Concept

A

Also known as Market Orientation, Customer Orientation, Market Driven

Key point: Put the customer first (The customer is the whole reason for our existence):
Customer Satisfaction
Customer Loyalty
Company can be more successful

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
33
Q

Marketing Strategy

A

Select a suitable target segment
Design the appropriate “mix” – product, price, place, promotion
To best satisfy customer needs in the chosen segment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
34
Q

Success in the Marketplace=

A

“Right Philosophy” + the “Right Marketing Strategy”

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
35
Q

What are the two types of Research?

A

Basic Research

Applied Research

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
36
Q

Basic Research

A

conducted to expand our knowledge (rather than to solve a specific problem)
To improve the marketing process

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
37
Q

Applied Research

A 
conducted to solve specific problems:
To identify market opportunities
To identify market problems
To generate, evaluate, and modify marketing actions
To monitor marketing performance
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
38
Q

Online Marketing Research

A

“The use of computer networks, including the Internet, to assist in any phase of the MR process including problem development, research design, data gathering, analysis, and report writing and distribution.”
Connectivity (aided by computers)
Used in any phase of the research process

Tremendous growth, due to improved effectiveness and efficiency of technologies

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
39
Q

Web-based research

A

research about Web applications – e.g., site popularity, visit duration, click-through rates of banner ads, site effectiveness, etc.,

40
Q

Online survey research

A

collecting survey data using computer networks

41
Q

Marketing Information System

A

A structure consisting of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers
Determine what information is needed
Acquire it
Distribute it in a timely manner

42
Q

Components of an MKIS

A

Internal Reports System
-Gathers information generated by internal reports
-Tells a manager about what has happened within the firm in the past
Marketing Intelligence System
-Used by managers to obtain everyday information about changes in the environment (external)
-Marketing Decision Support System
Collected data that can be analyzed using tools and techniques that assist managers in decision making
-Marketing Research System
Gathers information not gathered by other subsystems
Conducted for a specific situation/ problem (“Ad hoc”)
Projects have a beginning and end

43
Q

Marketing environment is?

A

dynamic

44
Q

11 steps in MR

A

1) Establish the need for MR
2) Define the problem
3) Establish Research objectives
4) determine research design
5) identify information types and sources
6) determine methods of accessing data
7) design data collection forms
8) determine sample plan and size
9) Collect Data
10) Analyze
11) Prepare and present final research report

45
Q

In SPSS, an “I don’t know” response to a survey question is entered is entered into SPSS as

A

-99 or -88

46
Q

Marketing is all about bringing ___________ in the marketplace

A

exchange

47
Q

SPSS data fl=iles have the _________ extension

A

.sav

48
Q

________ is known as the right guidig philosophy for marketing

A

The marketing concept

49
Q

If you were asked to summarize the job of marketing research in one word, it would be _______

A

information

50
Q

Inferential statistics deals with trying to understand population characteristics based on a _________ from the population.

A

sample

51
Q

Another way of stating that the marketing environment is constantly changing is that it is _________

A

dynamic

52
Q

___________ is the process of designing, gathering, analyzing, and reporting information that may be used to solve a specific marketing problem

A

Marketing Research

53
Q

A plan to help me get from where I am to where I want to be, in “business language” is ___________

A

Strategy

54
Q

“A measurable factor that changes” in marketing research is known as a _______

A

variable

55
Q

Information

A

processed data

56
Q

descriptive statistics

A

gathers, organizes, analyzes, and presents numerical data

57
Q

inferential statistics

A

attempts to understand population characteristics based on data from a sample

58
Q

census

A

a count of an entire population

59
Q

sample

A

a portion of or extract from the population

60
Q

sample unit

A

individual members of the sample

61
Q

variable

A

a measurable factor that changes

62
Q

constant

A

measurable factor that does not change

63
Q

variability

A

the amount of dissimilarity

64
Q

qualitative variable

A

the property being studied is nonnumeric in nature

65
Q

quantitative variable

A

the property being studied can be reported numerically

66
Q

demographics

A

variables used to describe or define the population being studied

67
Q

reliable

A

a situation where the same respondent responds the same way to an identical or nearly identical question

68
Q

valid

A

a measurement that is accurate (true to purpose)

69
Q

problem statement

A

a single statement that identifies: the company or division involved, symptoms (or signals), possible causes of symptoms. and anticipated used of research information

70
Q

ITBs

A

a formal document that the manager prepares, inviting different marketing research companies to submit proposals to do research

71
Q

Model

A

a set of constructs with their relationships specified

72
Q

symptoms

A

a change in behavior of a market factor that implies adverse consequences or an emerging opportunity

73
Q

information gap

A

a discrepancy between current information level and the desired information level

74
Q

research objective

A

these serve to close information gaps; they are specified bits of knowledge that need to be gathered.

75
Q

operational definition

A

this describes how the researcher is going to measure the construct

76
Q

construct

A

a marketing variable or concept that is involved in the problem to be researched

77
Q

assumption

A

assertions that certain conditions exist or that certain reactions will occur if considered action is implemented

78
Q

iceberg phenomenon

A

a situation where a formal monitor may not present the complete picture of the problem

79
Q

possible solutions

A

any marketing action that the marketing manager thinks may resolve the problem

80
Q

probable causes

A

the most likely factors giving rise to the symptoms

81
Q

syndicate research

A

identical research supplied to all buyers by the MR supplier

82
Q

custom design research

A

research that addresses a unique problem faced by a company or manager

83
Q

marketing research proposals

A

a formal document that defines the problem, specifies the resaech objectives, and details the research method

84
Q

uncertainty

A

lack of information

85
Q

symptoms or problem? profits are down

A

symptom

86
Q

symptoms or problem? headaches

A

symptom

87
Q

symptoms or problem? poor understanding of customer needs

A

problem

88
Q

symptoms or problem? customers are unhappy

A

symptoms

89
Q

symptoms or problem? viral infection

A

problem

90
Q

symptoms or problem? strong anti-brand feelings, “I hate Nike”

A

symptom

91
Q

symptoms or problem? sales decline

A

symptom

92
Q

symptoms or problem? food poisoning

A

problem

93
Q

symptoms or problem? not keeping an eye on the competition

A

problem

94
Q

symptoms or problem? declining popularity

A

symptoms

95
Q

symptoms or problem? sore throat

A

symptoms

96
Q

symptoms or problem? poor pricing

A

problem

97
Q

symptoms or problem? market chare erosion

A

symptoms

Marketing Research (2 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions