PMM Ch 2 Flashcards
What 3 crucial elements should be agreed upon in determining the purpose of research? (p.31)
1) the current situation involving the problem to be researched,
2) the nature of the problem
3) the specific question(s) that the research is designed to investigate
What are the 5 P’s of the marketing research process? (p.31)
Purpose, Plan, Performance, Processing the data, Preparing the report
What does a research plan contain or do? (p.32)
It describes the nature of the research to be conducted, including sample design, measures to be collected and types of analysis
Name 3 key decisions related to the research plan (p.32)
1) primary data vs. secondary data
2) quantitative vs. qualitative
3) in-house vs. outsourced
Name 4 common types of quantitative research (p.32)
1) observation, 2) surveys, 3) experiments, and 4) mathematical modeling
What is survey research is commonly used to investigate? (p.32)
Customer beliefs, attitudes, satisfaction, etc.
What are 2 examples of observational research? (p.32)
1) watching customers in store to understand shopping patterns, e.g., how much time in each section, how many items examined, etc.
2) traffic counts at intersections to find best locations
What is experimental research? (p.34)
Manipulating one variable while examining the impact on other variables
Give an example of experimental research (p.34)
Test markets, like changing a price, packaging, etc.
What are the challenges of test markets? (p.34)
Hard to design and administer natural settings
What is mathematical modeling? (p.34)
Involves analyzing secondary data to investigate the impact of strategies and tactics on brands and sales
Qual or quant? - Identifying a business problem or opportunity situation, or establishing information requirements (p.34)
Qualitative
Qual or quant? - Validating or answering a business problem or information requirements
Quantitative
Qual or quant? - Obtaining preliminary insights into motivation, emotional, attitudinal, and personality factors that influence marketplace behavior (p.34)
Qualitative
Qual or quant? - Obtaining detailed descriptions or insights into motivation, emotional, attitudinal, and personality factors that influence marketplace behavior (p.34)
Quantitative
Qual or Quant? - Building theories and models to explain marketplace behaviors or relationships between 2 marketing variables. (p.34)
Qualitative
Qual or Quant? - Testing theories and models to explain marketplace behaviors or relationships between 2 marketing variables. (p.34)
Quantitative
Qual or Quant? - Developing valid scales for investigating specific market factors, consumer qualities (e.g., attitudes, satisfaction, etc.) and behavioral outcomes (p.34)
Qualitative
Qual or Quant? - Assessing the reliability and validity of scales for investigating specific market factors, consumer qualities (e.g., attitudes, satisfaction, etc.) and behavioral outcomes (p.34)
Quantitative
Qual or Quant? - Determining preliminary effectiveness of marketing strategies on actual marketplace behaviors. (p.34)
Qualitative
Qual or Quant? - Assessing the effectiveness of marketing strategies on actual marketplace behaviors. (p.34)
Quantitative
Qual or quant? - Developing new products and services, or repositioning current product or service images. (p.34)
Qualitative
Qual or quant? - Segmenting and/or comparing large or small differences in markets, new products, services, or evaluation and repositioning of current products or service images. (p.34)
Quantitative
What are four questions that segmentation can answer? (p.36)
What kinds of people buy our product? Where do they live? How much do they earn? How many are there?
What does demand estimation research answer? (p.36)
Are the markets for our product increasing or decreasing? Are there promising markets that we have not yet reached?
What type of research reveals: What kinds of people buy our product? Where do they live? How much do they earn? How many are there? (p.36)
Segmentation
What type of research can answer this —> Are the markets for our product increasing or decreasing? Are there promising markets that we have not yet reached? (p.36)
Demand estimation
What is the cardinal rule of data collection? (p.37)
Obtain and record the maximal amount of useful information, subject to constraints of time, money and respondent privacy
Describe the “Performance” step (p.37)
Preparing for data collection and collecting data
What is a typical trade-off in PREPARING the report? (p.38)
Precision of scientific language for everyday language that managers can understand
