Market Research Test 1

marketing research

-the organization’s formal communication link with the environment

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

purpose of market research

-the organization gathers and interprets data from the environment for use in developing, implementing and monitoring the firm’s marketing plans

-can be utilized to make informed and relevant business decisions

history of market research

-N.W. Ayer & Son were the first company to do market research in 1879

-they collected data on people who produced agricultural machinery

-grew around the end of WW2

who uses marketing research

-producers of products/services

-advertising agencies

-marketing research companies

the four P’s

-product

-price

-promotion

-publicity

planned change

-looking forward and making voluntary changes (proactive)

-deliberate and systematic effort to alter a process to achieve a specific goal

roles of managers in marketing research

-marketing research helps uncover information managers need to make important business decisions

-managers act as the bridge between data analysis and strategic decision making

unplanned changes

responding to changes in the marketing environment (reactive)

discovery oriented decision problem

-generate information that can be used by managers to make important decisions

-research itself does not lead directly to the decision

-typically as “what” or “why”

strategy oriented decision problem

-indicate the way information will be used to help make decisions

-supplying logical reasons for each piece of the research ensures that the research problem makes sense in light of the decision problem

descriptive research

a method that aims to describe and observe phenomena without manipulating any variables

cross sectional descriptive research

studies involving drawing a sample of elements from the population of interest

longitudinal descriptive research

studies involving a panel from which measures are taken over time

causal research

a type of study that aims to identify cause-and-effect relationships between variables through controlled experiments

hypothesis

-a statement that describes how tow or more variables are related

-use exploratory research to come up with one

request for proposal

some form of document that a company issues to marketers in order for them to help them market their product of help them do research and identify problems

sugging

contacting people under the guise of marketing research when the real goal is to sell products or services (untruthful)

secondary data

-data that has previously been gathered by someone other than the researcher for some other purpose than the research project

-companies that sell standardized marketing data

Which of the following data collection methods provides the fastest turnaround?

e-mail surveys

It is not important to set a time schedule (timeline) in your research proposal

false

One of the biggest advantages of mail questionnaires is the anonymity offered to the respondent.

true

normal thinking

routine way of looking at the business and responding to different situations (what the customer is doing)

key parts of a timeline

-preliminary investigation

-final test of questionnaire

-sample selection

-mail questionnaire and follow up

-analysis and final preparation of the report

exploratory research

to gather information about the issue, understand and clarify the problem, and begin to develop a hypothesis or explain why

steps of exploratory research

-define the problem

-develop questions

-gather data through literature review, focus groups, in-depth interviews

-interpret findings

-generate hypothesis

task force

a temporary, cross-functional team formed to complete a specific marketing-related project

focus groups mainly gather what kind of data

qualitative

focus group

a qualitative marketing research method where a trained moderator leads a small group in a guided discussion about a specific topic, such as a product, brand, or advertisement

role of moderator in a focus group

-the most critical factor in a focus group

-they control the conversation and direct questions

new coke product failure

-new coke in 1984

-discontinued coke in just three months

-they were worried about a taste problem when in reality, consumers were loyal to coke brand for decades

internal secondary data

Information that originates within the organization for which the research is being done

external secondary data

Data that originate outside the organization for which the research is being done

unstructured data

Asking observers to record overall aspects of behavior

structured data

-Asking observers to note specific aspects of the
behavior

-Number of brands picked up; time
spent in the aisle etc.

undisguised data

-Subjects are aware of the nature of the research
and that they are being observed

-subjects may shift away from natural behavior

disguised data

-Subjects are not aware of somebody observing
their behavior

-not possible to get further information

natural data

Study conducted at natural setting like retail
store

contrived data (simulated)

Study conducted in a lab setting or using
computer simulations and virtual reality

mystery shoppers

a person who shops a store under a disguise that is completing an evaluation for the company

attitudes

an individual’s overall evaluation of something

self reports

method of assessing attitudes in which individuals are asked directly for their beliefs about or feelings towards an object

lifestyle characteristics

the idea that a company can be more successful if it knows more about its customers in terms of how they live, what interests them, and what they like

demographic/socioeconomic characteristics

the distribution or description of characteristics of a population (age, gender, race, income)

behavior/perceptions

the actions a person is doing or has already done

personality

the distinguishable factors of an individual such as their mannerisms, ideas, activities, values, and interests

motivation

a need, want, drive, urge or wish

intention in market research

the analysis of customer behavioral signals to determine whether a customer intends on buying something

web surfing

the act of browsing the internet to collect and analyze a wide variety of public and behavioral data

web analytics

tactic of companies increasingly placing a higher priority on tracking the behavior of a target audience via internet such as personal profile data and web clicks

web shadowing

refers to the practice of tracking and observing the online behavior of users as they navigate websites, social media

day after recall

a method of research that enables the researcher to assess the effectiveness of an advertisement message the day following its broadcast (super bowl)

observational approaches

a research technique where you observe participants and phenomena in their most natural settings

recall test

a method used to measure how well consumers remember a brand or product after being exposed to it

aided recall

in these test consumers are provided with prompts to help them remember the brands or products

unaided recall

no prompts are given to see how well consumers remember brands or products by memories

data mining

the use of analytic techniques to explore the data held within a dataset to isolate useful information

disguised questions

attempts to hide the purpose or the sponsor of the study

undisguised questions

makes the purpose of the research obvious, either in the intro, the instructions or the questions

debrief

process of providing appropriate information to respondents after data has been collected

administrative control

ability to collect data in a time efficient and cost efficient manner

mall intercepts

a method of data collection in which interviewers in a shopping mall stop or interrupt a sample of those passing by to ask them if they would be willing to participate in research

sampling control

a sample that is used as a standard of comparison in a statistical analysis 

mail questionnaire

-long and rarely get filled out

-effective for older generation

-can’t target directly one person

phone interview

-can happen anywhere

-lower costs

ad recall survey

the objective is to ask people what they remember about an ad after they have seen/watched it

nominal

-Used to identify or categorize objects or
individuals

-university ID or phone number

ordinal

-Used to order objects

-customer satisfaction

interval

-Used to compare intervals

-ACT scores

ratio

-Used to compare absolute magnitudes

-income

reliability

ability of measure to obtain similar scores for the same object across time, across different evaluators

efficacy

focuses on the outcome rather than just the efficiency of the activity

likert scale

a self report technique for attitude measurement in which respondents indicate their degree of agreement or disagreement with each of a number of statements