Ad Research terms from chapters 1-3

Things I'm thinking I may need to know for the quizes and tests and all that jazz

marketing

meeting needs profitably

marketing (AMA defenition)

the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

marketing concept

a business philosophy that holds that the key to achieving organizational goals consists of the company being more effective than competitors in creating, delivering, and communicating customer value to its target markets.

marketing strategy

consists of selecting a segment of the market as the company’s target market and designing the proper “mix” of product/service, price, promotion, and distribution system to meet the wants and needs of the consumers within the target market.

marketing research

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

market research

a process used to define the size, location, and/or makeup for a product or service.

function of marketing research

to link the consumer to the marketer by providing information that can be used in making marketing decisions.

basic research

the aim of this is to expand our knowledge rather than to solve a specific problem.

applied research

research conducted to solve specific problems

marketing information system (MIS)

a structure consisting of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers.

marketing intelligence system

a set of procedures and sources used by managers to obtain everyday information about pertinent developments in the enviroment.

internal reports system

gathers information generated within a firm, including orders, billing, receivables, inventory level, stockouts, and so on.

marketing decision support system (DSS)

collected data that may be accessed and analyzed using tools and techniques that assist managers in decision making.

Charles Coolidge Parlin

the “Father of Marketing Research”, started the first continuous and organized research in 1911

client-side research

research that is conducted within an organization

DIY research

refers to forms conducting their own marketing research.

supply-side research

research that is conducted by an outside firm to fulfill a company’s marketing research needs.

agency or suppler

a firm that is engaged in supply-side marketing research.

two main categories firms in the research industry can be classified as

full-service supplier firms and limited-service supplier firms.

full-service supplier firms

have the capability to conduct the entire marketing research project for buyer firms.

limited-service supplier firms

specialize in one or at most a few marketing research activities.

frugging

fund raising under the guise of research

Transparency Initiative

launched in 2014 to encourage the routine disclosure of methods used in research information that is released to the public

National Do Not Call Registry

established in 2003, allows U.S. residents to registers their telephone numbers to be protected from receiving unsolicited telemarketing calls.

ethical conduct

Fair dealings with respondents, fair dealings with clients and subcontractors, maintaining research integrity, concern for society.

marketing research system

gathers information not gathered by the other MIS component subsystems

Step One: Establishing the need for marketing research

weighing the value that may be possibly obtained from conducting marketing research and having the information at hand with the cost of obtaining the information

why is marketing research not always the best solution?

If the information is already available, the timing is wrong to conduct marketing research, or the costs outweigh the value of marketing research

Step two: define the problem

the most important step, if the problem is not correctly defined, all that follows is wasted effort. At this stage a problem statement should be developed that summarizes the problem.

Step 3: Establish research objective

research objectives tell the researcher exactly what information needs to be gathered and analyzed to allow managers to make decisions related to the problem. Need to be clear because they will determine the methods used and the content of the measurement instrument.

step 4: determine research design

research design is referring to the research approach used to meet the research objectives.

Three widely recognized research designs are…

exploratory, descriptive, and casual

exploratory research

a form of casual, informal research that is undertaken to learn more about the research problem, learn terms and definitions, or identify research priorities. Conducted early to help clients determine research objectives.

descriptive research

research that describes the phenomena of interest

casual research

attempt to uncover what factor or factors cause some event. Ex. “will a change in our package size of our detergent cause a change in sales?” Achieved from a class of studies called “experiments”

Step 5: identify information types and sources

because research provides information to help solve problems, researchers must identify the types and sources of information they will use in this step. Two types of information are primary and secondary.

primary research

information collected specifically for the problem at hand

secondary research

information that is already collected - secondary information should always be sought first because it is cheaper and faster to collect.

step 6: determine methods of accessing data

data may be accessed through a variety of methods. Through observation of consumers, by monitoring information available online, by using surveys, or by using multiple methods.

Step 7: design data collection forms

involves designing the form for data collection. This could be a questionnaire, or a focus group guide. Questions must be phrased properly to generate answers that satisfy the research objectives. They must also be clear and unbiased.

step 8: determine the sample and plan size

in many cases, marketing research studies are undertaken to learn about populations by taking a sample of that population

population

consists of the entire group about which the researcher wishes to make inferences based on information provided by the sample data.

sample

a subset of the population

sample plans

describe how each sample element or unit is drawn from the total population

sample frame

list of the population elements or units

step 9: collect data

there can errors in this process

field research firms

companies that specialize in data collection

Step 10: analyze data

marketing researchers transfer data from the data collection forms and enter the data into software packages that aid them in analyzing the data. The objective is to use statistical tools to present data in a form that fulfills the research objective

Step 11: prepare and presenting the data

presenting the research in marketing research report. The report is essential because it is often the clients only record of the research project.

problems

situations calling for managers to make choices among decision alternatives

marketing opportunity

defined as a potentially favorable circumstance in which a company can perform sucessfully

symptoms

changes in the level of some key monitor that measures the achievement of and objective

situation analysis

a form of exploratory research undertaken to gather background information and data that may be helpful in properly defining the problem decision.

decision alternative

all marketing action that the manager thinks may resolve the problem

consequences

the results of marketing actions

assumptions

assertions that certain conditions exist or that certain reactions will take place if the considered alternatives are implemented.

information state

the quantity and quality of evidence a manager possesses for each of his or her assumptions

information gaps

discrepancies between the current information level and the desired level of information.

hypotheses

statements that are taken as true for the purpose of argument or investigation

construct

an abstract idea or concept composed of a set of attitudes or behaviors that are thought to be related.

variables

elements of a construct that can be measured or quantified

operational definition

a construct, such as intention to buy or satisfaction, in terms of the operations to be carried out for the construct to be measured empirically.

action standard

the predesignation of some quantity of a measured attribute or characteristic that must be achieved for a predetermined action to take place

the marketing research proposal

the contract that documents what the marketing researcher pledges to deliver as a result of the marketing research process.

Invitation To Bid (ITB) or Request For Proposal (RFP)

when a client first contacts a marketing research supplier to conduct research they will go through these processes as a proposal for working with the firm