mkt 500 final

Marketing Research

process of designing, gathering, analyzing, and reporting information that may be used to solve a specific marketing problem by linking the consumer to the marketer

marketing concept

business philosophy that holds the key to achieving organizational goals consisting of being more effective than competitors in creating, delivering, and communicating customer value to chosen target markets

marketing strategy

strategy consisting of selecting a market segment to target and designing the proper marketing mix to meet their needs

Marketing Information System

structure consisting of people, equipment, and procedures to sort, analyze, evaluate and distribute information to marketing decision makers

Internal Reports System

Component of a Marketing Information System that gathers information generated from within a firm

Marketing Intelligence System

Component of a Marketing Information System that consists of a set of procedures and sources used by managers to obtain everyday information about pertinent developments in the environment

Marketing Decision Support System

Component of a Marketing Information System that consists of collected data that may be accessed and analyzed using tools and techniques that assist managers in decision making

Marketing Research System

Component of a Marketing Information System that gathers information for a specific situation facing a company

Research objectives

tells the researcher what information needs to be gathered and analyzed

Exploratory research

informal research conducted to learn more about the problem, gain background information about the general nature of the research problem, and establish research priorities

Descriptive research

research undertaken to collect data and examine the characteristics of consumers and/or markets

Causal research

research that attempts to uncover the factors that cause an event through experiments

Defining the problem

the most important step in the marketing research process by seeking out experts, and using exploratory analysis

problems

situations calling for managers to make choices among alternatives

symptom

a change in the level of a key monitor that measures the achievement of an objective or a perceived change in the behaviour

situation analysis

exploratory research undertaken to gather background information and data pertinent to the problem area that may be helpful in properly defining the problem decision

Hypothesis

statements taken as true for the purposes of argument or investigation

construct

an abstract idea or concept composed of a set of attitudes or behaviours thought to be related

operational definition

defines a construct in terms of opperations to be carried out to empirically measure the construct

Marketing research proposal

contract documenting what the marketing research firm pledges to deliver as a result of the marketing research process that includes a problem statement, research objectives, research method, statement of deliverables, costs, and a timetable

cross sectional study

measure units from a sample of the population at one point in time

longitudinal study

repeatedly measures the sample units of a population over a period of time

panels

samples of respondents who provide information or answer questions at regular intervals

continuous panels

panels where the members answer the same questions at each panel measurement

discontinuous panels

panels where the members answer different questions from one panel measurement to the next

omnibus panels

panels where the members answer different questions on a regular basis over a period of time

causality

a relationship in which one or more variables affect one or more other variables

experiment

a study in which one or more independent variables are manipulated to see how one ore more dependent variables are affected

independent variable

a variable in which the researcher has control and manipulates to measure the effect on the dependent variable

dependent variable

a variable that is measured in response to a change in the independent variable

extraneous variable

variable other than independent variable that may have an effect on the dependent variable

experimental design

a procedure for deciding an experimental setting so that a change in a dependent variable may be attributed solely to the change in an independent variable

pretest

measurement of the dependent variable prior to changing the independent variable

post test

measurement of the dependent variable after changing the independent variable

control group

a group whose subjects have not been exposed to the change in the independent variable

experimental group

a group whose subjects have been exposed to the change in the independent variable

internal validity

extent to which the researcher can be certain that a change in the dependent variable is due to the independent variable

external validity

the extent to which a researcher can be certain that a relationship observed between the independent and dependent variables during an experiment would occur under real world conditions

laboratory experiments

independent variables are manipulated and dependent variables are measured in a artificial setting for the purpose of controlling all extraneous variables that may affect the dependent variable

field experiments

independent variables are manipulated and depended variables are measured in their natural setting

test marketing

conducting an experiment in a field setting to evaluate a new product, service, or other marketing mix elements

standard test market

test market in which the firm tests the product or marketing mix variables through the company's normal distribution channels

controlled test market

test market conducted by outside research firms that guarantee distribution of the product through pre-specified types and numbers of distributors

electronic test market

panel members carry identification cards that each consumer presents when buying goods and services

simulated test market

a limited amount of data on consumer response to a new product is fed into a model containing assumptions regarding planned marketing programs

test market selection criteria

representativeness, degree of isolation, and ability to control distribution

Big data

large amounts of data from multiple sources which multiplies on an ongoing basis

internal secondary data

data collected from within a firm such as sales records, purchase requisitions, and invoices

internal database

information gathered by a company during the normal course of business transactions

data mining

software that helps managers make sense of seemingly senseless masses of information contained in databases

external data

data from outside the firm such as published sources, official data, and data aggregators

Packaged information

a type of secondary data in which the data collected is prepackaged for all users. Includes syndicated data and packaged services

Syndicated data

form of external data supplied form a common database to subscribers for a service fee

Packaged Service

prepackaged marketing research process used to generate information for a particular user

Geodemographics

the classification of geographic areas in terms of the socioeconomic characteristics of their inhabitants

tracking studies

longitudinal studies that monitor a variable such as sales or market share over time

in home interview

the interviewer conducts the interview in the respondents house.

Mall intercept interview

shoppers in a mall are approached and asked to take part in the survey

in office interview

interviewer makes an appointment with the business executives or managers to conduct the interview in the respondent's place of work.

telephone interview

interviews are conducted over the phone in a data collection company's office.

fully automated interview

interviews where the the respondents interact with a computer programmed to administer questions

group self administered survey

surveys where the respondents work individually along with a group of other people allowing the researcher to economize.

drop off survey

questionnaires are left with the respondent to fill out and the administrator returns at a later time to pick up the completed questionaires

computer assisted telephone interview

the interviewer reads the questions off of a computer screen and enters respondents answers directly into the program

mixed methods research

the combination of qualitative and quantitative research methods to gain the advantages of both

direct observation

observing behaviour as it occurs

indirect observation

observation of the effects or results of behaviour rather than the behaviour itself

covert observation

observation where the subject is unaware they are being observed such as a mystery shopper

overt observation

observation where the subject is aware they are being observed such as in a laboratory setting

structured observation

observation in which the research identifies beforehand which behaviours are being observed

unstructured observation

observation in which there are no predetermined restrictions on what the observer records

in situ observation

behaviour is observed exactly how it happens in a natural environment

invented observation

behaviour is observed in a simulated environment in order to improve understanding of a phenomena

Focus groups

small groups of people are brought together and guided through unstructured, spontaneous discussion to gain information relevant to the research problem and to explore rather than predict.

Ethnographic research

a detailed, descriptive study of a group and its behaviour, characteristics, culture,

Protocol analysis

places people in a decision- making situation and asks them to verbalize everything they considered.

Person Administered Survey

survey method involving the interviewer reading questions to the respondent and recording their answers

Computer assisted surveys

the interviewer verbalizes the questions while assisted by a computer

Computer administered survey

online questionnaire in which the computer plays an integral role

Interval

The distance between two known measures

Ordinal

A scale that shows the order such as 1st, 2nd, 3rd

Open ended

A question with no response options

Lifestyle scale

Scale that measures a consumer's unique way of living

Simple random

Method of choosing sample randomly

Systematic

Method of choosing a sample at a regular interval

Stratified

Choose a sample of a few people from larger groups that have same characteristics

Nonsampling error

Error caused by factors other than sample choice

Sampling error

Error caused by sample selection and size

Question Bias

A type of response bias resulting from question wording, or respomdents wanting to exagerate their knowledge.

Warm ups

Questions directly after screening questions that generate respondent interest

Screening

The first questions asked. Used to select respodents of interest to the researcher

Transition

Questions or statements prior to major questions notifying a change in question format of the questions following it

Classification

Questions asked last in the survey that are most personal

Nominal

Questions with words

Likert

Scale that primarily measures attitudes by asking respondents their degree of agreement or disagreement to a number of statements

Double barrel

Asking two questions at the same time

Break off

respondent stops filling out the survey

probability sample

when the number of people you have to choose from is known

nonprobability sample

when the number of people you have to choose from is unknown

measurement

determining a desciprtion of amount of some property of an object that is of interest to the researcher