MGT 103 Product Marketing and Management - Marketing Research

This set of flashcards covers key vocabulary and concepts from the Marketing Research lecture, useful for understanding the various aspects of marketing research methodologies and principles.

Marketing Research

The process of collecting, analyzing, and interpreting data about customers, competitors, and the business environment to improve marketing effectiveness.

Primary Data

Data collected specifically for the current research purpose, can provide more relevant information.

Secondary Data

Previously collected data that is used to inform current research, which may come from internal or external sources.

Qualitative Methods

Research methods that collect verbal or observational data, often requiring a limited number of participants but being harder to summarize.

Quantitative Methods

Research methods that collect measurable data, allowing for easier interpretation and summary, typically requiring a larger participant sample.

Causal Research

Research that tests hypotheses about cause-and-effect relationships between variables.

Exploratory Research

Research conducted to explore a problem or to gain insight into consumer behavior, often using qualitative methods.

Focus Groups

A qualitative research method where a group of respondents discuss a marketing problem, allowing for interactive feedback.

Depth Interviews

One-on-one interviews used for exploratory research, typically lasting 30-60 minutes with preplanned questions.

Observational Research

A research method involving the observation of behavior without interaction, useful for understanding real-world settings.

Correlation

The relationship between two variables, indicating how they may be related.

Causation

The relationship where one variable produces an effect in another variable, requiring specific conditions to be established.

Executive Summary

A concise summary included in a research report that provides an overview of the research findings.

Sampling Methods

Techniques used to select individuals from a population for the purpose of conducting research, including probability and nonprobability sampling.

Research Design

The framework for collecting and analyzing data to answer research questions or test hypotheses.

Survey Research

A method of collecting data through questions posed to participants, often taking the form of personal interviews, mail, or online surveys.

Experimental Research

Research that seeks to determine causal relationships by manipulating an independent variable and measuring its effect on a dependent variable.