Research process & design (L2) Flashcards
what is a market problem
A situation that makes some significant negative consequence more likely
What is a market opportunity
A situation that makes some potential competitive advantage possible
What are the decision making contexts
Certainty - have all the information needed
Uncertainty - grasps the general nature of the objective
Ambiguity - the problem is unclear and objective is vague
What is research design
the methods and procedures for collecting and analysing the needed information. It provides a framework or plan of action for the research.
What is problem definition
A broad statement of the general problem and identification of the specific components of the marketing research problem.
management decision problem
Management asks what the decision maker needs to do, is action oriented and focuses on symptoms.
Define Theory
Theory is a formal, logical explanation of some events that includes predictions of how things relate to one another
Define hypothesis
A formal statement of an unproven proposition, derived from theory,
that is empirically testable
What is exploratory research
To discover ideas that may be potential business opportunities.
What is descriptive research
To describe characteristics of objects, people, groups or environments; tries to “paint a picture” of a given situation.
What is causal research
To identify cause-and-effect relationships; allows causal inferences to be made.
Marketing research problem
Marketing asks what information is needed and how it should be obtained, is information oriented and focuses on underlying causes.
