Overview of the Marketing Research Process

What is Step One of the Marketing Research Process?

Identifying a research problem

What is Step Two of the Marketing Research Process?

Developing research framework and objectives

What is Step Three of the Marketing Research Process?

Choosing the research approach and methods

What is Step Four of the Marketing Research Process?

Data collection and analysis

What is Step Five of the Marketing Research Process?

Interpreting and drawing conclusions

What is Step Six of the Marketing Research Process?

Writing and presenting the research paper

Why is a research proposal needed?

To seek approval, secure funding, or set up corporate/collaborative research projects

What is a research proposal?

A plan, a written contract, or a contract for review and funding

What should a research proposal highlight?

Originality/significance, contribution to knowledge, importance, and researchers qualifications

What are the basic contents of a research proposal?

Executive summary, Research purpose and objectives, Proposed research design, Time and cost estimates, Appendices

What is the structure of a research paper?

Title, Abstract, Introduction, Literature Review, Research Methodology, Data Analysis and Findings, Discussion, References, Appendices

Why do we need Marketing Research?

To understand market trends, consumer preferences, needs, competitors, pricing, and target segments

What does 'ART' stand for in Marketing Research?

Accurate, Relevant, and Timely

What are the consequences of inadequate marketing research?

Poor engagement, low sales, negative brand perception, financial losses, and potential business failure

What did Bud Light use for research?

Focus groups with loyal customers

What were questions asked in Bud Light's focus groups?

Type of influencers they relate to, feelings about Pride Month, and having a figure on their drink

What are internal vs. external marketing firms?

Internal: within the company. External: outsourced firm

What are customized vs. standardized marketing services?

Customized: tailored services. Standardized: general services

List key ethical guidelines in marketing research.

Follow laws, handle child research carefully, ensure voluntary participation, protect privacy, avoid data misuse, be accurate and fair

What is marketing insight in the digital age?

Data collected online to analyze and optimize digital marketing campaigns

What is Google Analytics used for?

To track website traffic, conversions, and user behavior

What is a pageview?

The number of views a page receives; includes reloads and returns

What is a session in Google Analytics?

A visit that begins when a user lands on the site and ends after inactivity

What is a unique visitor?

A distinct individual tracked using cookies

What is bounce rate?

Percentage of single-page visits where the user leaves without interacting further

What are the four stages of marketing evolution?

Mass marketing, Segmented marketing, Data-driven marketing, 1:1 personalized marketing

What is primary data?

New, first-hand data collected directly

What is secondary data?

Previously collected data from internal or external sources

What are examples of primary data?

Surveys, interviews, focus groups, social media monitoring, ethnography

What is scanner panel data?

Tracks purchases via loyalty cards

What is web tracking?

Tracks websites visited via cookies or web tags

What is ethnography?

Observing consumers in their natural environment

What are benefits of secondary data?

Cost-effective, quick, broad samples, historical insight

What are limitations of secondary data?

May be outdated, wrong format, or collected for another purpose

What is benefit structure analysis?

Understanding primary benefits consumers want and spotting gaps

What is lead user analysis?

Analyzing early adopters who face challenges before the general public

What is the Gabor and Granger method?

Asks how much a person would pay for a product

What is multi-brand choice method?

Asks which brand a customer would choose regardless of price

What does place/distribution research optimize?

Ensures products reach the right places and times efficiently

What is ad recognition?

How easily viewers identify the ad

What is ad recall?

How well viewers remember ad content

What is persuasion in ad testing?

How much an ad changes opinions or preferences

What are brand metrics?

Measurable indicators of brand perception, behavior, and performance

What is brand awareness?

How well consumers recognize and recall a brand

What is brand preference?

Likelihood of a consumer choosing one brand over others

What is purchase intent?

A consumer's willingness to buy a brand

What is customer satisfaction (CSAT)?

Measures satisfaction after a specific interaction

What is Net Promoter Score (NPS)?

Measures loyalty and likelihood to recommend the brand

What is customer effort score (CES)?

Measures how easy it was for a customer to complete a task

What is churn rate?

Percentage of customers who stopped doing business with the brand

What is Step 1 in designing a questionnaire?

Planning what to measure

What is Step 2 in designing a questionnaire?

Selecting question types

What is Step 3 in designing a questionnaire?

Formulating clear, simple questions

What is Step 4 in designing a questionnaire?

Organizing questions logically

What is Step 5 in designing a questionnaire?

Testing and fixing with a small group

Why use indirect questions in surveys?

To avoid bias and reveal real influences for regression analysis

What is sampling?

Selecting a subset of a population to draw conclusions about the whole group

What is the opposite of sampling?

Census collecting data from the entire population

What is a sampling error?

The difference between sample results and population values

What is a non-sampling error?

Errors from recording, processing, or equipment issues

What is stratified sampling?

Dividing population into homogeneous groups, then sampling from each group

What is cluster sampling?

Dividing population into clusters, then randomly selecting entire clusters

What is convenience sampling?

Choosing participants based on ease of access

What is a hypothesis?

An educated guess or testable explanation about a phenomenon

What is the null hypothesis?

A statement that assumes no relationship exists between variables

What is a type 1 error?

Incorrectly rejecting a true null hypothesis (false positive)

What is a type 2 error?

Failing to reject a false null hypothesis (false negative)

What does p < 0.05 mean?

The result is statistically significant, and the null hypothesis can be rejected

What does correlation measure?

Strength of the relationship between two variables

What does a correlation coefficient of +1 mean?

Perfect positive relationship

What is regression analysis?

Predicts the dependent variable based on independent variable(s)

What is simple linear regression?

One dependent and one independent variable

What is logistic regression used for?

Predicting binary outcomes (e.g., yes/no)

What regression is used for continuous dependent variables?

Linear regression

How can ordinal data be used in regression?

Option 1: use linear regression; Option 2: recode to binary for logistic regression