| Question |
Answer |
| Definition of Marketing Research |
the systematic & objective identification, collection, analysis, dissemination, & use of information for the purpose of improving decision making related to the identification & solution of problems and opportunities in marketing |
| Problem-identification research |
research undertaken to help identify problems which are not necessarily apparent on the surface and yet exist or are likely to arise in the future, types of research: market potential, share, image, characteristics, forecasting, business trends |
| problem-solving research |
research undertaken to help solve specific marketing problems, types of research: segmentation, product, pricing, promotion, distribution |
| segmentation research |
basis of segmentation, establish market potential & responsiveness for various segments, select target markets, create lifestyle profiles: demography, media, & product image characteristics |
| product research |
test concept, determine optimal product design, package tests, product modification, brand positioning & repositioning, test marketing, control score test |
| pricing research |
pricing policies, importance of price in brand selection, product line pricing, price elasticity of demand, initiating and responding to price changes |
| promotional research |
optimal promotional budget, sales promotion relationship, optimal promotional mix, copy decisions, media decisions, creative advertising testing, evaluation of advertising effectiveness, claim substantiation |
| distribution research |
types of distribution, attitudes of channel members, intensity of wholesale & resale coverage, channel margins, location of retail & wholesale outlets |
| segmentation research |
determine basis of segmentation, establish market potential and responsiveness for various segments, select target markets and create lifestyle profiles for demography, media, and product image characteristics |
| product research |
test concept, determine optimal product design, package tests, product modification, rand positioning and repositioning, test marketing, control store tests |
| Marketing Research Process |
1. define the problem (mgmt vs. marketing), 2. developing an approach to the problem, 3. formulating a research design, 4. doing field work or collecting data, 5. preparing & analyzing data, 6. preparing and presenting the report |
| Marketing Research Suppliers & Services |
internal suppliers, external supplies: full service suppliers- syndicated services, standardized, customized, internet services: limited service suppliers- field, focus group & qualitative, technical & analytical, and other |
| Marketing Information System (MIS) |
structured problems, use of reports, information displaying restricted, can improve decision making by clarifying new data |
| Decision Support System (DSS) |
unstructured problems, use of models, adaptability, can improve decision by using "what if" analysis |
| Interaction |
communication, cooperation, confidence, candor, closeness, continuity, creativity |
| conducting a problem audit |
history of the problem, alt course of action available, criteria for evaluation, nature of potential actions based on research, info needed to answer the question, how info will be used, corporate decision-making culture |
| Factors in the environment context of the problem |
(PROBLEM)past info & forecasts, resources & constraints, objectives, buyer behavior, legal environment, economic environment, marketing & technological skills |
| Management-decision problem |
asks what the decision maker needs to do, action-oriented, focuses on symptoms |
| marketing research problem |
asks what information is needed and how it should be obtained, information oriented, focuses on the underlying causes |
| components of an approach |
analytical framework & model, research questions & hypotheses, specification of the information needed |
| analytical model |
a set of variables and their interrelationships designed to represent, in whole or in part, some real system or process |
| verbal model |
the variables and their relationships are stated in prose form |
| graphical models |
visual, used to isolate variables and to suggest directions of relationships but are not designed to provide numerical results: awareness, evaluation, preference, patronage |
| mathematical models |
explicitly specify the relationships among variables |
| research questions |
refined statement of the specific components of the problem |
| hypothesis |
an unproven statement or proposition about a factor or phenomena that is of interest to the researcher, declarative statement, empirically tested |
| research design |
a framework/ blueprint for conducting the marketing research project, details the procedures necessary for obtaining the information needed to structure or solve marketing research problems |
| exploratory research |
provide insights & understanding, info defined loosely, flexible & unstructured, sample is small & non-representative, data analysis is qualitative, tentative findings, followed by exploratory/ conclusive research |
| conclusive research |
test specific hypotheses and examine relationships, info is clearly defined, formal & structured, sample is large & representative, data analysis is quantitative, conclusive, used as input into decision making |
| descriptive research |
describe market characteristics/ functions, marked by the prior formulation of specific hypotheses, preplanned & structured design, secondary data, surveys, panels, observational & other data |
| casual research |
determine cause & effect relationships, manipulation of 1+ independent variables, control of other mediating variables, experiments |
| cross-sectional design |
collection of info from any given sample of population elements only once, representative sampling, response bias |
| longitudinal design |
a fixed sample of population elements is measured repeatedly on the same variables, samples remain the same over time, detects change, large amount of data collection, accuracy |
| methodology/ specifications |
data collection method, response rate, quality of data, sampling technique, sample size, questionnaire design ,field work, data analysis, data should be reliable, valid, & generalizable to the problem at hand |
| error |
examine errors in: approach, research design, sampling, data collection, data analysis, reporting, assess accuracy by comparing data from different sources |
| currency |
time lag between collection and publication, frequency of updates, census data are periodically updated by syndicated firms |
| objective |
why were the data collected, objective will determine the relevance of data |
| nature |
definition of key variables, units of measurements, categories used, relationships examined, reconfigure the data to increase their usefulness if possible |
| dependability |
expertise, credibility, reputation, and trustworthiness of the source, data should be obtained from an original rather than an acquired source |
| surveys |
conducted at regular intervals, flexible way of obtaining data, information on underlying motives, interviewer & respondent errors, market segmentation; advertising theme selection, and advertising effectiveness |
| purchasing panels |
households provide specific information regularly over an extended period of time; recorded purchase behavior can be linked to the demographic/ psychographic characteristics, lack of representative-ness, maturation, forecast sales |
| media panels |
electronic devices record behavior, +/- same as purchase panel, establish advertising rates; selecting media program or air time; establishing viewer profiles |
| scanner volume/ tracking data |
household purchases are recorded through scanners, data reflect actual purchases, timely data, less expensive, data might not be representative, error in record, price tracking modeling, effectiveness of in-store modeling |
| scanner diary panels with cable tv |
data reflect actual purchases, sample control, ability to link panel data to household characteristics, not representative, quality of data limited, promotional mix analyses, copy testing, new product testing, positioning |
| audit services |
verify product movement by examining physical records/ performing inventory analysis, relatively precise information at retail and wholesale levels, coverage incomplete, matching of data on competitive activity may be difficult, measure customer sales |
| industrial product/ syndicated services |
data banks, important source of information, data is lacking in terms of content, quality, & quality, determine market potential by geographic area, define sales territories, allocate advertising budget |
| single-source data |
provide integrated information on household variables, including media consumption and purchases, and marketing variables, such as product sales, price, advertising, promotion, and in-store marketing effort |
| advantages of focus group |
synergism, snowballing, stimulation, security, spontaneity, serendipity, specialization, scientific scrutiny, structure, speed |
| disadvantage of focus group |
misuse, misjudge, moderation, messy, misrepresentation |
| advantage of online focus group |
geographical constraints removed&time constraints lessened, unique opportunity to recontact group participants at a later date, can recruit people not interested in traditional focus groups, moderators can carry on side conversations with indiv, low cost |
| disadvantages of online focus group |
need internet access, uncertain if in target group, lack of control over environ, only audio and visual stimuli can be tested, difficult to capture body language & emotions |
| depth interviews |
one-on-one basis, uncover underlying motives, prejudices, or attitudes toward sensitive issues |
| advantages of depth interviews |
uncover deeper insights, attribute response directly to indiv, free exchange of info, no social pressure to conform, get at real issues |
| disadvantages of depth interviews |
skilled interviewers expensive & difficult to find, quality and completeness of the results depends on interviewer's skills, data obtained are difficult to analyze and interpret, high cost, less interviews |
| projective techniques |
interpretation of behavior of others, word association, completion technique- picture response, cartoon tests, store completion, expressive techniques- role playing, third-person technique |
| advantages of projective techniques |
elicit responses that subjects would be unwilling or unable to give, can address personal, sensitive, strong social issues, subconscious |
| disadvantages of projective techniques |
suffer from many of the disadvantages of unstructured direct techniques, require highly trained interviewers, interpretation bias, expensive, unusual behavior |
| advantages of survey method |
easy to administer, fixed- response, simple |
| disadvantages of survey method |
unable/ unwilling to give info, loss of validity for beliefs & feelings, difficult to properly word questions |
| advantages of observation |
measurement of actual behavior, no reporting bias, cheaper & faster than survey |
| disadvantage of observation |
selective perception, time-consuming & expensive, unethical |
| scale characteristics |
description (nominal), order (ordinal), distance (interval), origin (ratio) |
| advantages of comparative scaling |
small differences detected, same reference points, easily understood, fewer theoretical assumptions, reduce halo/ carryover effects from one judgement to another |
| disadvantages of comparative scaling |
ordinal nature of data, inability to generalize beyond the stimulus objects scaled |
BIOL3326 Forms
