session 5

Question 1

How do experiments establish causality and remove confounds

Answer 1

need randomization

Question 2

internal validity

Answer 2

when you establish causality, when you are on a field experiment sometimes you cant establish validity and cant have internal validity, you establish validity through randomization and controlling your variables

Question 3

external validity

Answer 3

whether your finding can be generalized to another setting
Ex: in a lab experiment, certain kinds of packaging increase purchase intentions, in na actual retail store will these lead to purchase? Looking at different settings (not only lab setting) different cultural contexts, participants from china and from all over, high external validity means generalizability to other contexts which is good

Question 4

ecological

Answer 4

whether your findings look at real behaviour. Lab experiments are low in ecological bc you are controlling things whereas field experiments where you don’t know you are part of the experiment are high for ecological. Want high ecological
Trade Off between ecological and internal validity

Question 5

secondary data

Answer 5

information that has already been gathered
internal: company annual reports, sales/ scanner data, customer database, customer feedback data
external: gvt reports, industry profiles, social media , market overview, case analysis

Question 6

primary data

Answer 6

data collected for the first time for the study at hand
qualitative and quantitive

Question 7

Advantages of secondary data

Answer 7

High volume
Low cost
Less time
Helps define your business problem
Already available
May clarify problem
May imprpive primary data collection
Not resource intensive : saves time, money, minimal training
May provide background information

Question 8

Disadvantages of secondary data

Answer 8

Outdated data, accuracy issues
Not tailored to your business problem exactly
May have ethical issues

Question 9

Primary data

Answer 9

Data that you collect
Can do this through quantitative or qualitative

Question 10

Advantages of primary data

Answer 10

More accurate and relevant
Avoid ethical issues

Question 11

Disadvantages of primary data

Answer 11

Requires training and expertise
Methods vary on expense and speed
expensive
a lot of time