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Marketing Research > Notes: Midterm Review > Flashcards

Notes: Midterm Review Flashcards

1
Q

Empirical Research

A

Planning whom, when, how, and specific circumstances of your observation

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2
Q

Market Analysis

A

Survey of the structure and dynamics of a market segment within an industry

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3
Q

Marketing Analytics

A

Methodologies for identifying potential trends or correlation patterns by analyzing historical data

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4
Q

Marketing Research

A

Methods for collecting and analyzing information about customers

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5
Q

Exploratory Research

A

Used when looking for insights, new ideas. Often the first stage of larger research programs. Uses more flexible, inexpensive methods

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6
Q

Descriptive Research

A

Used to accurately describe the market and provide the input to marketing plans and decisions. Uses structured, planned methods

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7
Q

Cross Sectional Research

A

Type of Descriptive Research where each individual is observed only once`

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8
Q

Longitudinal Research

A

Type of Descriptive Research where each individual is observed repeatedly

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9
Q

Casual Research

A

Evaluates hypotheses about possible cause and effect relationships. Provides input for specific marketing decisions

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10
Q

Primary Data

A

Collected specifically for the issue at hand

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11
Q

Secondary Data

A

Collected independently and often prior to our current and specific research needs

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12
Q

Syndicated Services

A

A research study which is conducted and funded by a market research firm but not for any specific client

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13
Q

Syndicated Retail Data

A

Supports the analysis of trends and competitive situations, evaluation of marketing programs and strategies, planning and forecasting

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14
Q

Qualitative Research

A

Concerned with obtaining authentic, truthful, and rich descriptions of a consumer’s mental life

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15
Q

Quantitative Research

A

Concerned with uniform and replicable observations

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16
Q

Focus Group

A

Type of Qualitative Research. Group of “typical” consumers. Exploratory, and output is subjective

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17
Q

Focus Group - Discussion Guide

A

Drafted by supplier on the goal of the project, the moderator guides the discussion and makes sure to cover all the points in the guide

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18
Q

The Depth Interview

A

A professionally trained interviewer probes the “typical” consumer

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19
Q

Projective Techniques

A

Used when we assume that respondents cannot give candid answers spontaneously. Often used in conjunction with focus groups or depth-interviews

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20
Q

Surveys

A

Structured method of data collection. Provides data that is standardized, quantitative, and detailed.

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21
Q

Descriptive Surveys

A

Collect from a representative sample, results can be extrapolated to the studied population

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22
Q

Cost and Time is determined by

A

Complexity of sampling, accessibility of respondents, and the need to use field workers.

23
Q

Response Rate

A

Measures the number of sampled individuals who accept to participate.

24
Q

Concomitant Variation

A

In order to talk about causation, you must have data - a correlation between the proposed cause and effect - that operates in the direction you predicted

25
Q

Independent Variable

A

Set of alternatives that are manipulated.

26
Q

Stimuli

A

Actual object that embodies the treatment

27
Q

Dependent Variable

A

A measure that represents the response of the test units to the treatments

28
Q

Control

A

Procedures that ensure exclusion of all extraneous variables from having an influence over the response of the test units

29
Q

Internal Validity

A

The control over extraneous variables

30
Q

Types of Measurement Scales

A

Nominal, Ordinal, Interval, Ratio

31
Q

Nominal Scale of Measurement

A

The measure consists of the particular category a respondent belongs to. It lists all the possible categories and the respondent chooses one..

32
Q

Ordinal Scale of Measurement

A

The measure consists of the category a respondent belongs to. The range of available categories has an implicit order.

33
Q

Interval Scale of Measurement

A

The measure consists of a particular category a respondent chooses from a set. The set is carefully constructured to have many categories which are ordered, evenly spaced, and defined to range from the possible minimum to possible maximum

34
Q

Ratio Scale of Measurement

A

The measure consists of a number provided by the respondent, relative to a characteristic that is naturally expressed in terms of quantities

35
Q

Rank Order Scaling

A

A set of objects to order from most preferred to least preferred; this scale is ordinal

36
Q

Paired Comparison Scaling

A

A set of objects is organized in pairs, the respondent chooses one from each pair

37
Q

Constant Sum Scaling

A

Objects within a set have to be evaluated by assigning points to each object representing a judgement

38
Q

Likert Scale

A

Multi-item scale, contains a number of questions, each measuring the same idea from a slightly different angle. Popular for measuring attitudes and are thought to encourage rational responses

39
Q

Semantic Differential Scale

A

Multi-item scale, contains a number of questions, all measuring the same idea, each question with a slightly different angle. Each item in a SD scale is a pair of opposite adjectives or descriptive sentences.

40
Q

Questionnaire

A

A formal and structured set of questions that aims at eliciting information from respondents in the form or pre-formatted answers

41
Q

Unstructured Questions

A

Ask for a respondent’s spontaneous expression, they are useful in exploratory research

42
Q

Structured Questions

A

Ask respondents to choose among pre-established options, they provide data that is relatively easy to analyze

43
Q

Target Population

A

The aggregate of all the individuals whose characteristics are the focus of the marketing research project

44
Q

Census

A

The act of measuring the relevant characteristics of all the individuals in a population

45
Q

Sample

A

A group of individuals drawn from a population

46
Q

Sampling Error: Bias

A

Occurs when the error producing factor is stable and operates in a constant direction, worst type of error because it can’t be quantified

47
Q

Sampling Error: Random Error

A

Occurs because a sample does not include all population members and may underestimate or overestimate the true average measure of a characteristic in the population

48
Q

Simple Random Sample

A

Each sampling unit has the same chance of being sampled, and selection is based on a lottery model performed by using random numbers

49
Q

Cluster Sample

A

Population is divided into subsets and a sample of clusters is created

50
Q

Stratified Sample

A

Population is divided into strata and each stratum is sampled separately

51
Q

Convenience Sample

A

Selection of sampled individuals is based on ease of access and convenience of the researcher

52
Q

Judgement Sample

A

Selection of sampled individuals is done by the interviewer on the basis of some criterion

53
Q

Quota Sample

A

Selection of sampled individuals is based on both the goal of including certain subgroups, and the judgement of the interviewer

54
Q

Variability

A

The degree of differentiation between values of X for different people in the same population. A lot of differentiation -> high variability -> low accuracy

Marketing Research (4 decks)

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