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Principles Of Marketing 1st Quarter Reviewer > Quiz April 15, 2024 > Flashcards

Quiz April 15, 2024 Flashcards

1
Q

Managing Marketing Information to
Gain Customer Insight

A
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2
Q
  • “intersection between the interest of the consumer and features of the brand.”
A

Customer Insight

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3
Q
  • “fresh and deep insights” into customers needs and wants.
A

Customer Insight

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4
Q
  • “better information and more effective use of existing information.”
A

Customer Insight

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5
Q
  • companies are “forming customer insights teams.”
A

Customer Insight

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6
Q
  • “provides information
    to the company’s marketing” and other “managers and
    external partners such as suppliers, resellers, and marketing services agencies”.
A

Marketing Information System (MIS)

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7
Q

Marketing Information System (MIS) This consist of people and
procedures for:

A

• Assessing the information needs
• Developing needed information
• Helping decision makers use the information for
customer

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8
Q

How to develop a Marketing Information?

A

There are 3 areas where marketers obtain data:

  1. Internal Data
  2. Marketing Intelligence
  3. Marketing Research
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9
Q

– are “electronic collection of consumers and market
information obtained from data sources within the company network”.
Internal data can “provide strong competitive advantage from the key
information on customers” such as sales, websites visited, “demographics,
psychographics, service and satisfaction measures.”

A
  1. Internal Data
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10
Q

– is the “systematic collection and analysis of publicly available information” about consumers, competitors and
developments in the marketplace.

A
  1. Marketing Intelligence
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11
Q

– is the “systematic design, collection, and reporting
of data relevant to a specific marketing situation” facing an organization.

A
  1. Marketing Research
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12
Q

4 STEPS IN MARKETING RESEARCH PROCESS

A

Steps 1. Defining the Problem and the Research Objectives
Step 2. Developing the Research Plan
Step 3. Implementing the Research Plan
Step 4. Interpreting and Report the Findings

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13
Q

Steps 1. Defining the Problem and the Research Objectives

These can be explained in more depth:

A
  1. Exploratory Research
  2. Descriptive Research
  3. Causal Research
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14
Q

– objectives is to “gather preliminary
information that will help define the problem and suggest
hypotheses.”

A

• Exploratory Research

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15
Q
  • “Used to investigate a problem which is not clearly defined.”
A

• Exploratory Research

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16
Q
  • “describes things.”
  • characterized by descriptions, your data gathered comes from observing po.
A

• Descriptive Research

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17
Q

– “tests hypothesis about cause and effect
relationships.”

A

• Causal Research

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18
Q

Step 2. Developing the Research Plan

We can collect data from:

A
  1. Primary Data
  2. Secondary Data
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19
Q
  • consist of “information gathered for the special research
    plan.”
A

Primary data

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20
Q
  • collection sources includes “surveys, observation, experiments, questionnaire, personal, interview, etc.”
A

Primary data

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21
Q
  • consists of “information that already exists somewhere”,
    having “been collected for another purpose.”
A

Secondary data

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22
Q
  • “secondhand information”, it is a “commentary made by the other researchers.”
A

Secondary data

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23
Q

4 Marketing Research Approaches

A
  1. Observational research
  2. Ethnographic research
  3. Survey research
  4. Experimental research
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24
Q
  • involves “gathering primary data by observing relevant
    people”, actions, and situations.
A
  1. Observational research
25
Q
  • involves sending “trained observers to watch and interact
    with consumers in their natural environment.”
A
  1. Ethnographic research
26
Q
  • “study of people in their own environment through the use of methods such as participants” observation and face to face interviewing.
A
  1. Ethnographic research
27
Q
  • is the “most widely used method and is the best for descriptive
    information knowledge”, attitudes, preferences and buying behavior.
    •Flexible
    • People can be unable or unwilling to answer
    • Gives misleading or pleasing answer
    •Privacy concerns
A
  1. Survey research
28
Q
  • is the “best for gathering causal information
    cause-and-effect relationships.”
A
  1. Experimental research
29
Q

2 Marketing Research Contact Methods

A
  1. Focus Group
  2. Web Based
30
Q
  • is “composed of 6 to 10 people” along with a trained
    moderator. This is “quiet challenging because it is expensive,
    difficult to generalize from small group and consumers are not
    always open and honest.”
A

Focus Group

31
Q
  • “group interview where consist of 6 to 12 people who has a similar common interest or characteristics.”
A

Focus Group

32
Q
  • which “includes Online Marketing Research, Internet
    surveys, Online panels, Click-streams data and Online focus
    groups.”
A

Web Based

33
Q
  • they “use online web to collects or to gather data”.
A

Web Based

34
Q

Marketing Research Sampling Plan

A

Sample

35
Q
  • this is an “act of choosing number of observation”.
A

Sample

36
Q
  • is a “segment of the population selected for marketing research to represent the population” as a
    whole.
    In identifying the sample, researchers should answer
    the following:
    • Who is to be studied?
    • How many people be studied?
    • How should the people be chosen?
A

Sample

37
Q

2 types of Samples

A
  1. Probability Sample
  2. Non-Probability Sample
38
Q

3 Probability Sample

A

• Simple Random Sample
• Stratified Random Sample
• Cluster (Area) Sample

39
Q

– every member of the population has a known and “equal chance of selection.”
- random choosing

A

• Simple random sample

40
Q
  • the population is “divided into
    mutually exclusive groups and the random samples are
    drawn from each group.”
A

• Stratified random sample

41
Q
  • total population divided into homogeneous groups (strata) to complete the sampling process.
A

• Stratified random sample

42
Q
  • the population is “divided into
    mutually exclusive groups and the researcher draws a
    sample.”
A

• Cluster (area) sample

43
Q
  • the population divided into cluster like for example based on age, gender, and location.
A

• Cluster (area) sample

44
Q

3 Non-Probability Sample

A

• Convenience Sample
• Judgement Sample
• Quota Sample

45
Q
  • The research “selects the
    easiest population members.”
A

• Convenience sample

46
Q
  • The researcher “uses
    judgement to select population members.”
A

• Judgement sample

47
Q
  • The researcher “finds and
    interviews a prescribed number of people in
    each several categories.”
A

• Quota sample

48
Q
  • you are going to divide the population equally then after that sa per group po ay pipili naman po kayo until you reach your qoiuta
A

• Quota sample

49
Q

3 Marketing Research Instrument

A
  1. Questionnaires
  2. Close-end Questions
  3. Open-end Questions
50
Q
  • is the “most common marketing research instrument”. This as “administered in person, by phone, or
    online and said to be flexible.” Researchers must be” careful
    with wording and ordering of questions.”
A

Questionnaires

51
Q
  • easiest way and common instrument na ginagamit nila to gather data. It can be through calls, sending google forms like we use nowadays, however dapat Yung wordings po natin ay dapat clear tsaka po determined.
A

Questionnaires

52
Q
  • includes “all possible answers, and
    subjects make choices among them”. Provide answers that
    are “easier to interpret and tabulate”.
A

Closed-end questions

53
Q
  • allow “respondents to answer in their
    own words.” “Useful in exploratory research.”
A

Open-end questions

54
Q
  • own perception naman po nila, kalimitan pong ginagamit to sa exploratory research.
A

Open-end questions

55
Q

The last step for the marketing research includes the following:

A

• COLLECTING THE INFORMATION
• PROCESSING THE INFORMATION
• ANALYZING THE INFORMATION
• INTERPRET FINDINGS
• DRAW CONCLUSIONS
REPORT MANAGEMENT

56
Q
  • involves “entering information into
    databases and making it available in a time-useable manner.”
A

Information Distribution

57
Q
  • provides “information to employees and other
    stakeholders.” (Internal)
  • the information is only accesible to those people inside the company.
A

• Intranet

58
Q
  • provides “information to key customers and
    suppliers.” (External)
  • outside such as yung customers and suppliers.
A

• Extranet

Principles Of Marketing 1st Quarter Reviewer (3 decks)

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