Marketing Research Midterm

What is the marketer’s definition of marketing research?

An ongoing conversation with a target group to understand its needs, perceptions, and motivation

List 5 qualities of a solid marketing research project

1. Smart research design

2. The right combination of questions

3. Intelligent interpretation

4. Customized reports

5. Circulated knowledge

Why is Circulated knowledge important in an organization?

It ensures major research findings are shared across the organization through creative menas to influence decision making

What is the primary focus of exploratory research?

Narrowing the focus of a problem and asking open-ended How and Why questions

It is not about making final conclusions

Define causal research

Research used to determine if a change in one variable (independent) causes a change in another (dependent)

Cause and effect research

What are the 7 steps in a marketing research process?

1. Identify problem/objective

2. Create design

3. Write questionnaire

4. Collect data

5. Analyze/interpret

6. Write report

7. Present

What is a customized service supplier often called?

A boutique firm

They have a small number of MRP’s and typically take on one client at a time using a highly consultive approach

What is syndicated research

Research where a firm engages multiple clients in the design of a study to share costs

Ex: sharing costs for survey programming and recruitment

What are the 7 main secretions of research design?

1. Background

2. Objectives

3. Sampling plan

4. Methodology

5. Timing

6. Limitations

7. Budget

What is the difference between internal and external secondary data?

Internal: data found within the organization (sales records)

External: data found outside the organization (search engines)

What is a sampling frame?

The specific list or setting of a population from which a sample is drawn

Ex: customer email list

Name 4 popular business databases mentioned in class

1. Business Source

2. Passport GMID

3. IBISWorld

4. Statista

What is a usage and attitude study?

A study that measures consumers awareness and usage of products and their satisfaction levels to identify what features drive purchases

Define average minute (AMA) in TV measurement

The average number of viewers of a show, typically expressed in thousands

What is reach in the context of video advertising?

The number of unique viewers who watched at least one minute of a show

Viewers are only counted once

How do you calculate cost per thousand?

Divide the total cost of a campaign by the number of impressions (in thousands)

Define reliability in a questionnaire design?

Ensuring a question is worded so that there is no room for alternative interpretation, allowing data to be collected consistently

What is a double barreled question?

A mistake where one question actually asks about two different things

Ex: did you like the taste and texture?

Distinguish between nominal and ordinal data

Nominal: categorical data with no quantifiable differences (gendre, brand choice)

Ordinal: data that can be ordered or ranked (smallest to biggest)

What is skip logic?

Programming instructions that either include or exclude respondents from specific questions based on their previous answers

What is piping in survey programming?

An instruction used to insert an answer from a previous question into a questions asked later to keep the respondent focused

Population

An entire group of individuals with at least one thing in common (also called “universe”)

Sample

A subset or portion of a population

Representative sample

A sample with the same characteristics as the overall population, within a certain margin of error

Sampling frame

The list or setting of a population from which the sample is dream

Ex: an email list, voter registry

Census

An official count/survey of every member of the population

5 steps of the sampling process

1. Define target population

2. Locate sampling frame

3. Choose sampling technique

4. Define sample size

5. Create the sample

Probability sampling

Any method where each person has an equal/random chance of selection

Allows predictions about a population

Simple random sampling

Listing every population member and using a random number generator to select participants

Systemic random sampling

Ordering the sampling frame by an unrelated factor, picking a random start point, then selecting every other person

Stratified ransom sampling

Randomly sampling within separate, relevant subgroups proportional to their size

Cluster sampling

Dividing population into representative clusters, randomly selecting clusters then censusing each selected cluster

Non - probability sampling

Sampling based on research judgment, not generalizable, but useful for exploratory research

Quota sampling

Non-random selection from subgroups based on demographics to mirror the population