Unit 7 - Continuous market research

Question 1

What is longitudinal design?

Answer 1

A type of research involving a fixed sample of population elements that is measured repeatedly.
The sample remains the same over time which allows to see the changes taking place over time.

Question 2

What is secondary data?

Answer 2

data collected for some purpose other than the problem at hand

Question 3

What are syndicated services or sources?

Answer 3

They are companies that collect and sell common pools of data of known commercial value, designed to serve information needs shared by a number of clients.

These data are not collected for the purpose of marketing research problems specific to individual clients, but can be personalized to fit particular needs.

Question 4

What is the classification of syndicated services?

Answer 4

It is done based on the unit of measurement:

• households/consumers
• institutions

Question 5

What are household/consumer panels?

Answer 5

a panel is a group of people chosen to represent a larger universe of people that have agreed to provide information at specified intervals over an extended period.

syndicated firms maintain panels, and panel members are compensated for their participation with gifts, coupons, information or cash.

Question 6

What are the panel advantages?

Answer 6

• amplified response rate
• discuss multiple topics
• diversity of members
• deep understanding of topics
• focus groups and online discussions
• online surveys and polls

Question 7

What is an omnibus?

Answer 7

it is a shared-cost survey that allows us to collect data on a wide variety of subjects during the same interview.

it works by combining survey questions from multiple clients to all questions from the same group of respondents

Question 8

what is a purchase panel?

Answer 8

it is a data-gathering technique in which respondents record their purchases online or in a diary

Question 9

what are the characteristics of a purchase panel?

Answer 9

households provide specific information regularly over an extended period of time;
respondent is asked to record specific behaviours as they occur

Question 10

What are the disadvantages to a purchase panel?

Answer 10

lack of representativeness;
response bias
maturation (changes in test units with passage of time)

Question 11

what are the uses of a purchase panel?

Answer 11

forecasting sales, market share and trends
establishing consumer profiles, brand loyalty and switching
evaluating test makers, advertising and distribution

Question 12

what is a media panel?

Answer 12

it is a data-gathering technique that is comprised of samples of respondents whose media consumption is automatically recorded by electronic devices, supplementing the purchase information recorded online or a diary

Question 13

what are the characteristics of a media panel?

Answer 13

electronic devices automatically recording behavior, supllemented by a diary

Question 14

what are the advantages of a media panel?

Answer 14

same as diary purchase panel

Question 15

what are the disadvantages of a media panel?

Answer 15

same as diary purchase panel

Question 16

what are the uses of a media panel?

Answer 16

establishing advertising rates
selecting media program or air time
establishing viewer profiles

Question 17

how do we use panel data?

Answer 17

panels provide an accurate picture of how consumers are engaging with brands, consuming media and what products they are buying
this allows marketers to overcome data gaps

Question 18

what are the key features of marketing mix strategies?

Answer 18

• consumer insights for growth
• a bigger picture of market
• measurement and optimisation

Question 19

what is on-device market research

Answer 19

• it is a methodology used to monitor consumers in real time by using passive mobile data collection this technology allows obtaining data directly from mobile devices including geo location, physical movements, browser history, app usage, and call and text message logs
• these data enable researchers to study users mobility patterns, physical activity and health, consumer behavior and social interactions

Question 20

what is an audit?

Answer 20

• It is a data collection process derived from physical records or by performing inventory analysis
• Data are collected personally by the researcher and are based on counts usually of physical objects

Question 21

what are the uses of audit?

Answer 21

• Determining the size of total market and distribution of sales by type of outlet, region or city
• Assessing brand shares and competitive activity
• Identifying shelf space allocation and inventory problems
• Analyzing distribution problems
• Developing sales potentials and forecasts
• Developing and monitoring promotional allocations based on sales volume

Question 22

What are the advantages of audit?

Answer 22

provides relatively accurate information on movement of different products at wholesale, retail events

information can be broken down by a number of important variables such as brand, type of outlet and size of market

Question 23

what is a b2b panel?

Answer 23

it is a collection of pre-screened qualified people willing to participate in surveys and provide feedback for a product/service

it provides crucial insights into complex products across multiple sectors in the expertise