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marketing research definition

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149 Terms

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marketing research definition

the systematic & objective -identification -collection -analysis -dissemination

  • and use of information

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what is the purpose of marketing research

improving decision making related to identification and solution of problems and opportunities in marketing

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3 functional role of marketing research

  1. descriptive

  2. diagnostic

  3. predictive

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descriptive

who, what, where, how

*gathering and presentation of statements of fact

ex: what is the historic sales trend in the industry? what are consumers attitudes toward x product?

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diagnostic

why

*the explanation of data or actions

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predictive

what if

*specification of how to sue descriptive and diagnostic research to predict the results of a planned marketing decision

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marketing strategy

a plan to guide the long-term use of a firm's resources based on its existing and projected internal capabilities and on projected changes in the external environment

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2 types of research

  1. basic

  2. applied

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basic research

general/expand knowledge

ex: UNL

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applied research (3 types)

solve a specific problem

  1. programmatic

  2. selective

  3. evaluative

ex: P&G

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programmatic research (applied)

develop marketing options

ex: ebook -- research found ppl don't distinguish between independent or traditional publishers and ppl will pay more to bundle an ebook and real book

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selective research (applied)

test decision alternatives

ex: flavor contest for lays & doritos commercial competition

**type of research can backfire (naming of the boat)

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evaluative research (applied)

assess program performance

ex: satisfaction survey

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when do you not conduct research?

  1. resources are lacking

  2. results would not be useful

  3. too late --- decision already made

  4. disagreement - what is needed amongst decision makers

  5. necessary info already exists

  6. costs > benefits

  7. consumers don't know the answer

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2 determinants of potential benefits for market research

  1. profit margin

  2. market size

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should you conduct research if:

small market size - small profit margin

no

***cost>benefit

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should you conduct research if:

small market size - large profit margin

maybe

***learn what you can from existing information prior to making decision to conduct research

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should you conduct research if:

large market size - small profit margin

maybe (ex: frozen entrees, crest teeth white strips)

*** ***learn what you can from existing information prior to making decision to conduct research

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should you conduct research if:

large market size - large profit margin

yes (ex:medical equipment, 3d printer)

***benefits most likely to be greater than costs

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who are marketing research stakeholder?

-management -client -field services -respondents -general public

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ethics

moral principals/values (generally) governing the conduct of an individual or group

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most important factor between client & research supplier

confidentiality & trust

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3 types of ethical theories

  1. deontology

  2. utilitarianism

  3. casuist

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deontology

*people should adhere to obligation & duties *always keep promises, follow rules and laws

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utilitarianism

*choose the option that leads to the most benefit to the most people *act/rule utilitarians??

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casuist

rely on previous examples

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ethical risks of research supplier

pricing, subjectivity, up-selling, violating confidentiality, abusing respondents

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ethical risks of clients

malicious RFP's (request for proposals), false promises

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ethical risks of field services

professional respondents, pressure to bias response/data

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respondents rights

  1. right to choose

  2. right to safety

  3. right ot be informed

  4. right to privacy

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corporate code of ethics

*framework for a company's approach to doing business *point of reference for individual employee behavior *can help decision making *can have a positive effect on customers

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individual code of ethics

influences how a person makes a decision in certain situations

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marketing research process

  1. planning

  2. collection

  3. analysis

  4. communication

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planning

formulate problem ---> determine research design ---> choice of method

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collection

design sample procedure & collect data

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analysis

analyze and interpret the data

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communication

prepare the research project

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when determining a problem you need to ..... (2)

  1. understanding management decision problems

  2. derive corresponding market research problem and market research objectives

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management decision problem is...

*asks what the decision maker needs to do

*action oriented

*focus on symptoms

*should advertising campaign be changed

*should price of a product be changed

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market research problem is...

*ask what info is needed and how it should be obtained

*information oriented

*focuses on underlying causes

*determine effectiveness of current campaign

*to determine impact on sales and profits of various level of price changes

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types of exploratory research

  1. situational analysis

  2. pilot studies

  3. case analysis

  4. focus groups

  5. experience surveys

  6. secondary data analysis

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decision makers look at ______ where researchers look at _____

*iceberg principle

symptoms

causes

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research design

a framework or blueprint for conducting the market research project that details the procedures necessary for obtaining the info needed to structure or solve marketing research problems

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exploratory research

*formulates problem more precisely *helps develop hypothesis *clarifies concepts or eliminates ideas

ex: literature, focus groups, interviews

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types of quantitate research

  1. descriptive

  2. casual

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descriptive research

*describe segment characteristics *estimate proportion of ppl. who behave in a certain way

ex: longitudinal study, cross sectional

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casual research

*provide evidence regarding casual relationship

ex: lab experiment, field experiment

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objective of qualitative research

gain a qualitative understanding of the underlying reasons and motive

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qualitative research : sample

small number of non representative cases

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qualitative research : data collection

unstructured

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qualitative research : data analysis

non-statistical

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qualitative research : outcome

develop an INITIAL understanding

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objective of quantitative research

to draw inference

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quantitative research : sample

large number of representative cases

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quantitative research : data collection

structured

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quantitative research : data analysis

statistical

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quantitative research : outcome

recommend a final course of action

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descriptive research methods (3) ---

  1. secondary data

  2. survey --- binary -- yes or no -- 1 or 0

  3. observation -- monitoring w/o asking questions

*still quantitative

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survey

interview, mail, online --- everyone gets the same questions

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observation

monitoring without asking questions -- tracking, sensors

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expierements

manipulate independent variable(s), observe effects on dependent variable(s) --- hold everything else constant

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correlation

relationship between two variables

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causation

one variable producing an effect in another variable

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t or f correlation equals causation

FALSE

*correlation does NOT mean causation

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3 factors necessary for causation

  1. correlation

  2. temporal antecedence

  3. no third factor driving both

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spurious correlation

*artificial fake relationship *dangers of data mining *lots of thing correlate but are not really related

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primary data

data collected to solve a specific problem

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secondary data

data that already exists

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two sources of secondary data

  1. internal databases --- accounting, sales, purchasing, logistics, customer service

  2. external databases --- gov. agencies, trade association consumer reports, syndicated market research services

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characteristics of primary data

-slow -expensive -relevant to problem at hand

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characteristics of secondary data

-fast -inexpensive -may or may not be relevant to problem at hand

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why should you use secondary data before primary?

-helps clarify the problem -may inform primary data collection alternatives -may highlight forthcoming difficulties in primary data collection -can support research report & assist in identifying a sample

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how to check secondary data

  1. is data available?

  2. relevant?

  3. accurate? (who, what purpose, what info, when, how)

  4. sufficient?

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database

a collection of related information

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data mining

the use of software or statistical tools to identify non obvious patterns in a database

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what do you look for with database marketing and data mining?

classes, clusters, associations, sequential patterns

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how to apply data-mining applications

-behavioral targeting -customer acquisition -customer retention -customer abandonment -market basket analysis (which products are bough together) -forecasting

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geographic information system (GIS)

-computer based system that displays various types of data geographically -uses both primary and secondary data

ex: google maps

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GIS applications

-map & target customers -choose new store sites -develop local advertising campaigns ---> micro-marketing

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decision support systems

interactive, personalized information management system designed to be initiated and controlled by individual decision matters

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characteristics of decision support systems

-interactive -flexible -discovery-oriented -easy to learn & use -theoretical but rapidly evolving

ex: cortona

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Walgreens examples

using customers purchase data to show relevance of the flu across the country

*knew information before the CDC

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qualitative research

non numeric research

-research whose finding are not subject to quantification or quantitative analysis

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when is qualitative research used?

used to UNDERSTAND in depth motivations and feeling of consumers

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why use qualitative research?

  1. better able to capture emotional and subconscious influencers of purchase and usage of offerings

  2. the above is accurately communicated only through indirect communication techniques

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focus groups

-8 to 12 individuals -moderator (well trained researcher) -informal discussion about research topic -contains group dynamics

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advantages of focus groups

  1. in depth in from RIGHT customer dynamics

  2. observe and record

  3. group dynamics can enhance conversation

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disadvantages of focus groups

  1. can't just use findings by itself

  2. bandwagon effect

  3. peer pressures (dominant talkers, socially desirable responses)

  4. moderator can introduce bias

  5. participants may or may not be your typical customers

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individual in-depth interviews

-non directive interviews -semi- structured or focused individual interviews -constant probing

*respondent enjoys max freedom

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advantages individual in-depth interviews

  1. group pressures are eliminated

  2. respondent is focused

  3. longer talking time

  4. flexible location

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disadvantages of individual in-depth interview

  1. cost

  2. time

  3. no group dynamic

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hermeneutics

-research that focuses on interpretation through conversation -identification of THEMES across multiple participants

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projective techniques

-unstructured & indirect form of questioning -project underlying motivations, beliefs, attitudes/feelings

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types of projective techniques

  1. association

  2. completion

  3. construction

  4. expressive

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association techniques

word association

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word association

-words are read aloud and each respondent is asked to say the first word that comes to mind -analyzed in terms of responses, non-responses, time-elapsed

*type of association technique

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completion techniques

  1. story completion

  2. sentence completion test

ex: ppl who eat chipotle are...

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construction techniques

  1. thematic apperception test (TAT)

  2. storytelling

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thematic apperception test (TAT)

-subject given pictures w/ consumers or products at the center -subject asked to write a story about each picture

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storytelling

??? ZMET- Zaltman Metaphor Elicitation Technique

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