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HR > Unit 8 > Flashcards

Unit 8 Flashcards

1
Q

what is the market research process

A

process of collecting and analyzing information in order to recommend actions to improve marketing activities

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2
Q

what are the types of market research

A

exploratory research, descriptive research, causal research

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3
Q

what is exploratory research

A

preliminary research conducted to verify the scope or nature of a marketing problem

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4
Q

what is descriptive research

A

research designed to describe the basic characteristics of variables

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5
Q

what is causal research

A

research designed to identify the cause and effect relationship between variables

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6
Q

what are the steps in the market research process

A

problem awareness, exploratory research, data collection, analyze and interpret, recommend and implement

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7
Q

what is a research question

A

turning research objectives into a specific answerable question

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8
Q

what is a hypothesis

A

statement of predicted outcomes based on available information

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9
Q

what is a population and a sample

A

population is all individuals making up a group of interest
sample is a subset of individuals making up a group of interest

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10
Q

what is probability sampling

A

when participants are randomly selected from the population. all population members have an equal chance of being selecte

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11
Q

what is non probability sampling

A

when participants are selected on non-scientific criteria. population members do not have an equal chance of being selected

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12
Q

what are focus groups

A

small group of 8-10 people that meet with a trained moderator for interactive discussion of predetermined topics. taxing on time and resources, limited sample size. often recorded to catch both verbal and non verbal cues after.

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13
Q

what is social listening

A

monitoring social media channels for content relevant to a brand/product
helpful in gauging image/reputation
organized and analyzed on metrics and social media sentiment

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14
Q

what is social media monitoring

A

this is watching the orgs own social media accounts whereas social media listening is watching for content made by other people

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15
Q

what are observational methods

A

watching how people behave in relevant situations. can be natural or contrived. goal is to track key behaviours customers are exhibiting

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16
Q

what are the different types of surveys`

A

in person, telephone, mail, online, survey panel

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17
Q

what is longitudinal data collection and cross sectional data collection

A

longitudinal is getting data over various points in time and cross sectional is getting data at just one point in time

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18
Q

what is attrition

A

when you lose participants each time you run a training session

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19
Q

what are experiments and how do they work

A

they assess whether one variable has a causal effect on another variable
participants randomly assigned to groups, each group receives different treatment representing a level of the independent variable, dependant variables are compared between groups.

20
Q

what is test marketing

A

introducing products or campaigns to limited groups to assess viability
taxing on time and resources but better than a full launch
competitors can take advantage

21
Q

what is the process of analyzing and interpreting results

A

statistically analyze the collected data, synthesize and simplify, address the guiding hypothesis to see whether or not it was supported

22
Q

what is the process of recommendation and implementation

A

prepare a report to communicate the research and findings, include recommendations that address the marketing problem and research objectives, continue to monitor

23
Q

what is segmentation and targeting

A

process of dividing potential customers into segments based on shared characteristics
goal is to identify high yield segements

24
Q

what is demographic segmetnation

A

people grouped based on demographics: age, gender, ethnic background, religion, socioeconomic status, family status

25
Q

what is psychographic segmentation

A

people grouped based on psychographics: personality traits, values, interests, lifestyle

26
Q

what is behaviour response segmentation

A

people grouped based on behaviouristics: benefits sought, frequency of use, occasions for use, loyalty response

27
Q

what are marketing segments

A
28
Q

what is geographic segmentation

A

people are grouped based on geographic characteristics: country, province, city, region, population density, climate

29
Q

what is mass marketing

A

using one marketing strategy to appeal to all customers
goal is to reach largest audience possible

30
Q

what is niche marketing

A

marketing to a small subset of a larger segment with specific needs
little competition
customers may be willing to pay more

31
Q

what is individual marketing

A

marketing to a segment of one
deliver individualized messages and product offerings to customers
create more personal relationship between customers and the brand

32
Q

what is product positioning

A

the impression of the product you want to establish in a customers mind
clarification of how product/brand stand apart from competitors

33
Q

what makes a good positioning statement

A

clear, focus, concise
how you want your product/brand to be perceived
clarifies name, category, benefits, target market, differentiation

34
Q

what is problem awareness

A

properly understanding the marketing problem at hand
often what appears to be the problem is actually a symptom of a bigger problem

35
Q

what is funneling

A

part of exploratory research where a subject is divided into more manageable variables so specifically directed research can be done

36
Q

what is situation analysis

A

collecting info from people inside and outside the org and from secondary sources

37
Q

what are some examples of internal data sources

A

sales reports, customer profiles, inventory reports

38
Q

what are the main external data sources

A

government, academia, business

39
Q

what are the steps in sample design

A

define the population, identify the sampling frame, determine the type of sample, determine the sample size

40
Q

what is qualitative data

A

data collected from small samples in a controlled environment resulting from questions about why consumers behave as they do
typically collected using focus groups

41
Q

what is quantitative data

A

collected using a structured procedure and large sample size
focused on how, what when, who, and how many
interpretation is based on numbers and not judgment of researchers

42
Q

what are the five main geographic segments in canada

A

maritimes, quebec, Ontario, prairies, BC

43
Q

what is geodemographic segmentation

A

a mix of geographic and demographic segmentation and refers to the isolation of dwelling areas where people who share demographic characteristics tend to live

44
Q

what is micro marketing

A

the development of marketing strategies based on small regions

45
Q

what are the types of market positioning

A

head on positioning, brand leadership positioning, product differentiation positioning, technical innovation positioning, lifestyle positioning, repositioning

HR (10 decks)

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