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Research/Target MRKT

Foundation of MRKG Pride/Ferrell 5th Chap 4

TermDefinition
Marketing Research The systematic design, collection, interpretation, and reporting of information to help marketers solve specific marketing problems or take advantage of marketing opportunities
Steps for Research 1.)Locating and Defining Problems or Research Issues 2.)Designing the Research Project 3.)Collecting Data 4.)Interpreting Research Findings 5)Reporting Research Findings
Research design An overall plan for obtaining the information needed to address a research problem or issue
Hypothesis An informed guess or assumption about a certain problem or set of circumstances
Exploratory research Conducted to gather more information about a problem or to make a tentative hypothesis more specific
Conclusive research Designed to verify insights through objective procedures and to help marketers to make decisions
Descriptive research Used to clarify the characteristics of certain phenomena to solve a particular problem
Experimental research Allows marketers to make causal inferences about relationships
Reliability A condition that exists when a research technique produces almost identical results in repeated trials
Validity A condition that exists when a research method measures what it is supposed to measure
Primary Data Are observed, recorded, or collected directly from respondents
Secondary Data Are compiled both inside and outside the organization for some purpose other than the current investigation
Population All the elements, units, or individuals of interest to researchers for a specific study (Method of Primary Data)
Sample A limited number of units chosen to represent the characteristics of a total population (Method of Primary Data)
Sampling The process of selecting representative units from a total population (Method of Primary Data)
Probability Sampling A technique in which every element in the population being studied has a known chance of being selected
Random sampling All units in a population have an equal chance of appearing in a sample (Probability Sampling)
Stratified Sampling The population is divided into groups according to a common attribute and a random sample is taken within each group (Probability Sampling)
Nonprobability Sampling A technique in which there is no way to calculate the likelihood that a specific element of the population will be chosen
Quota Sampling Researchers divide the population into groups and then arbitrarily choose participants from each group (Nonprobability Sampling and final choice left up to interviewer)
Survey Methods Mail (Questionnaire), Telephone (Favored for Flexibility), Online (via e-mail or website),Personal Interview (face-to-face)
Crowdsourcing Taking tasks usually performed by a marketer and outsourcing them to a potential market through an open call for ideas
Personal Interview Surveys In home/Door-to-door, Focus-group (observation), Customer advisory boards(small group feedback),Telephone depth (Confidential probing),Shopping mall intercept, On-site computer interview
Tyes of questions Multiple-choice question Open-ended question Dichotomous question (Fixed-alternative question that can only be answered in one of the two indicated ways, such as 'A' or 'B', Agree or Disagree, True or False, Yes or No)
Marketing information systems (MIS) A framework for managing and structuring information gathered from internal and external sources
Database Collection of information arranged for easy access
Single source data Information provided by a single marketing research firm
Marketing decision support systems (MDSS) Customized computer software that aids marketing managers in decision making
International Issues in Marketing Research Marketers must modify data-gathering methods to account for differences in sociocultural, economic, political, legal, and technological forces
Two-pronged approach to international marketing research *A detailed search and analysis of secondary data to better understand the marketing environment *Conduct field research using methods described in this chapter
Created by: 100002002310518
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