mark 4311 final review

Quantitative Marketing Research

Includes new product development, brand perception, advertising concept research, and customer satisfaction.

New Product Development (NPD)

The focus is on brand recognition and comparison, optimal features, purchase intent, pricing, and brand acceptance.

Brand Perception (BP)

Aims to understand how familiar consumers are with a company and its competitors, which key attributes the company is known for, and what makes the company unique in the marketplace.

Advertising Concept (AC)

Measures the effectiveness of advertisements before full development and production.

Customer Satisfaction (CS)

Focuses on delivering surveys as soon as possible after the point of sale interaction.

Validity

The notion that an instrument is measuring what it is supposed to measure.

Reliability

An indicator of an instrument's consistency in its ability to measure.

Sampling

The process of collecting data from and studying a subset of a population to describe opinions, behaviors, and other phenomena of the population at large.

Sample

A subset of the population.

Population

The entire target group or total number of individuals being studied.

Parameter

A result that describes data from everyone in the population.

Statistic

A result that describes data from a sample of the population.

Confidence Level

The level of confidence researchers can have that if a study were replicated, the same results would be found.

Margin of Error

Indicates how much a statistic can fluctuate when using it to describe the true population.

Probability Sampling

A sampling method that uses random selection to ensure equal probabilities of being chosen for members of a population.

Non-Probability Sampling

A sampling method that relies on the researcher's subjective judgment or access to the sample.

Fielding

Refers to the data collection phase of primary research studies.

Representation

Ensuring that the sample is representative of the target population to avoid over or under-representing certain segments.

Online Surveys

A distribution method for surveys conducted online.

Snail Mail Surveys

A distribution method for surveys sent through traditional mail.

Telephone Interview Surveys

A distribution method for surveys conducted over the phone.

Response Rate

The percentage of people who respond to a survey.

Non-Response Bias

Bias that occurs when non-respondents differ from respondents in important ways.

Response Bias

Bias that occurs when respondents provide inaccurate or biased answers.

Confidentiality

Surveys where the respondent's identity is known but kept confidential.

Anonymity

Surveys where the respondent's identity is unknown.

Data Analysis

The process of analyzing and interpreting collected data.

Descriptive Statistics

Statistics that summarize and describe the main features of a dataset.

Measures of Central Tendency

Statistics that describe the center or average of a dataset, including mean, median, and mode.

Percentages

A way to express a part of a whole as a fraction of 100.

Top Box Scores

A measure of the percentage of respondents who select the highest rating on a scale.

Measures of Spread

Statistics that describe the variability or spread of a dataset, including range and standard deviation.

Cross Tabulations

A method of analyzing data by comparing the relationship between two or more variables.

Hypothesis Testing

The process of testing a theory or hypothesis to determine if there is a significant difference or relationship between groups.

Null Hypothesis

The assumption that there is no difference between the comparison groups in the target population.

Alternative Hypothesis

The prediction that a difference does exist in the target population.

p-value

The probability that the null hypothesis is true.

Z-test for Proportions

A statistical test used to compare the difference between two categorical percentages on a single characteristic.

Independent Sample T-test

A statistical test used to compare the differences of mean scores between two groups.

Paired Sample T-test

A statistical test used to compare mean scores when there are paired ratings from each respondent.

Chi-square

A statistical test used to test differences between categorical percentages variables.

Analysis of Variance (ANOVA)

A statistical test used to test differences of mean scores between three or more groups.

Data Visualization

The use of charts, graphs, and other visual representations to display data effectively.

Bar Chart

A chart used to display categorical or continuous mean scores and trend data.

Line Chart

A chart used to show data that changes over time by plotting a series of points and connecting them with a line.

Pie Chart

A chart used to display data where the parts make up a whole, with each part represented as a slice of the pie