MARK 1115 - Ch 4

three functional roles that both marketing research and marketing analytics can play in an organization:

1. Descriptive role: Presenting factual statements. For example, what are the historic sales trends in the industry? What are consumers’ attitudes toward a product and its advertising?

2. Diagnostic role: Explaining relationships within data. For example, what is the impact on a product’s sales if the colour of the packaging is changed?

3. Predictive role: Predicting results of a marketing decision. For example, what is the impact of a new product introduction on market share?

Figure 4.2 The Marketing Research Process

5 - interpret and draw conclusions from data

6 - statement of research, summary of major findings, conclusion

7 - internal/external → ask furthur questions and support decisions

vocab: research design

specifies which research questions must be answered, how and when data will be gathered, and how the data will be analyzed.

→ exploratory research - gathers information to help define the problem

→ descriptive research - describe marketing situations or markets

→ causal research - test hypothesis of cause-and-effect

probability sampling

• SRS

• systematic sampling - K=N/n

• stratified sampling - grouped, then randomly choose n from each group

• cluster sampling - grouped, then randomly choose group to survey

non-probability sampling

• convenience sampling - proximity and idea

• judgemental sampling - choose people based on what you think about them

• quota sampling - need to have a specific amount, then use convenience/judgemental

• snowball sampling - ask one person then ask if they know other people

advantages and disadvantages of secondary data

advantages and disadvantages of primary data

vocab: measurement error

occurs when the information requested by the researcher differs from the information provided by the measurement process.

→ e.g. say they bought crest toothpase when they do not

qualitative data collection method:

• depth interview: involves a discussion between a well-trained researcher and a respondent who is asked about attitudes and perspectives on a topic.

  → 1-on-1

• focus group: is a small group of recruited participants engaged in a nonstructured discussion in a casual environment

quantitative data collection method:

• survey research

• online/telephone/mall intercept interview

• questionnaire

• observation research/mystery shopper

• experiments (laboratory/field)

observational research and mystery shopper

• obs: researchers watching what other people do (behavioural pattern)

• mystery: reseachers pose as customers, observational data about the store (ie. are the shelves are stocked & customer-employee interactions)

vocab: ethographic research

the study of human behaviour in its natural context, involves observation of behaviour and physical setting.

vocab: experiment

• causal method - cause and effect

  • laboratory: researcher can create and control set of variables

  • field - more realistic experiment → respondant will display relevant behaviour and attitudes

vocab: big data

exponential growth in the volume, variety, and velocity of information and the development of complex new tools to analyze and create meaning from such data.

CRM

• customer relationship management

  • records all interactions between a company and its customers

vocab: data mining

the process of sorting through large sets of data to find patterns and relationships

vocab: structured data

is data that is easily defined and organized

vocab: unstructured data

is data that is not easily defined and organized, including audio, video, photos, written messages, presentation slides, and anything else where the contents of the data don’t belong to a clear category

vocab: personally identifiable information

data that can be used to identify a particular person

vocab: anonymized data

data where personally identifiable information has been removed