Marketing Research Exam 1

Marketing research

A systematic, objective, information-based process used to support marketing decisions.

Systematic

Research that follows an organized process.

Objective

Research that is unbiased and based on evidence.

Information-based

Research that uses collected information or data.

Decision-oriented

Research designed to help managers make decisions.

Purpose of marketing research

To reduce uncertainty, identify problems and opportunities, and support better decisions.

Does marketing research guarantee a successful outcome?

No. It supports decisions but does not guarantee a particular outcome.

Management decision problem

An action-oriented question asking what the manager should do.

Marketing research problem

An information-oriented question asking what information is needed.

Primary research

New data collected specifically for the current research project.

Secondary research

Data that already exists and was collected for another purpose.

Primary research advantage

It is usually highly relevant to the specific research question.

Primary research disadvantage

It is usually more expensive and time-consuming.

Secondary research advantage

It is usually faster and less expensive.

Secondary research disadvantage

It may be outdated or may not fit the research question.

Internal secondary data

Data that comes from inside the company.

External secondary data

Data that comes from outside the company.

Examples of internal secondary data

Sales records, customer databases, and previous company surveys.

Examples of external secondary data

government stats, industry reports, and census data

Business intelligence

Using company data to understand business performance and support decisions.

Qualitative research

Research focused on words, meanings, opinions, experiences, and deeper understanding.

Quantitative research

Research focused on numerical data and measurable evidence.

Qualitative research usually asks

Why or how?

Quantitative research usually asks

How many or how much?

Qualitative research sample size

Usually smaller because the goal is depth rather than measurement.

Quantitative research sample size

Usually larger to allow numerical analysis and greater generalizability.

Qualitative research methods

Focus groups, interviews, open-ended questions, and observation.

Quantitative research methods

Surveys with closed-ended questions and experiments.

Is qualitative or quantitative research always better?

No. The best approach depends on the research question.

Exploratory research

Research used to develop ideas and insights when a problem is not well understood.

Descriptive research

Research used to describe characteristics, behaviors, attitudes, or opinions.

Causal research

Research used to test whether one variable causes a change in another.

Exploratory research asks

What might be happening and why?

Descriptive research asks

What is happening?

Causal research asks

Does X cause Y?

Exploratory research example

Why are college students not interested in a new product?

Descriptive research example

What percentage of college students purchase the product each month?

Causal research example

Does lowering the price increase purchase intention?

Survey

A standardized set of questions given to a sample from a population.

Open-ended question

A question that allows respondents to answer in their own words.

Closed-ended question

A question that provides specific response options.

Open-ended question advantage

It can provide detailed and unexpected responses.

Open-ended question disadvantage

Responses can be harder to analyze and code.

Closed-ended question advantage

Responses are easier to compare and analyze.

Closed-ended question disadvantage

It may limit respondents to the choices provided.

Qualitative coding

Organizing open-ende