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Research/Target MRKT
Foundation of MRKG Pride/Ferrell 5th Chap 4
| Term | Definition |
|---|---|
| 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 |
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