Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
D077 Module 3
Marketing Research
| Question | Answer |
|---|---|
| Marketing Research | is the process of systematic gathering, recording, and analyzing data about customers, competitors, and the market. |
| Primary research | involves data collection that is tailored to the specific challenge or problem you are trying to address. There are many ways to conduct primary research. |
| qualitative primary research | explores ideas, perceptions, and behaviors in depth with a relatively small number of research participants. It aims to answer questions with more complex, open-ended responses. |
| quantitative primary research | collects information that can be easily counted, tabulated, and statistically analyzed. |
| Secondary research | uses secondary data, or source information that has previously been collected either inside or outside the organization. Internal data and some external data are freely available or have only a nominal |
| primary data | Data collection specifically tailored to the problem you are trying to address |
| secondary data | Source information that has been previously collected for other purposes (internal or external) |
| Primary data benefit | Information is directly related to what you want to know |
| Secondary data benefit | Typically lower cost and less time to collect Data already exists |
| Primary data limitations | Can be costly or time-consuming to collect Requires expertise in data collection |
| Secondary data limitations | Information may be dated May not directly address what you need to know |
| Primary research technique | behavioral observation, in-depth interviews, focus groups, social listening, survey research, and experimental research. |
| Behavioral observations | Watching customers and noncustomers engage with a product |
| in-depth interviews | Conversations with an individual the marketer wants to understand better |
| focus groups | Small groups of individuals (usually 6–12) who delve deeply into topics of interest |
| social listening | Monitoring conversations on social media or soliciting input from a social media community |
| survey research | Asking individual consumers to provide responses on a questionnaire |
| experimental research | Testing the effect of varying a factor or a set of factors in a marketing artifact |
| internal data | A company’s internal data, such as sales and marketing records, customer account information, product purchasing, and usage data are typical secondary data sources. |
| Database marketing organizations | sometimes called customer insights services providers, collect massive amounts of information about consumers by linking financial and credit data to tracking data about online and offline purchases and other behaviors |
| Government agency, nonprofit, and NGO data | Agencies freely publish economic data, demographic data, trade statistics, and regulatory information. |
| Industry and professional associations | Most industries have dedicated media and organizations, which publish online or offline news, magazines, newsletters, and journals and collect data about their industry or profession. |
| Commercial marketing research companies | Syndicated research of consumer data for purchase as well as database information on consumer purchases and behavior. |
| Internet searches | May provide useful insights into what data has already been collected. |
| storing content | protect participants’ privacy, measures in place to store collected data, notify participants if data breach |
| A/B testing | A marketing experiment where two variants of a campaign are tested to see which one is most effective |
| Group think | Psychological phenomenon in which individual members of a group accept a viewpoint or conclusion that represents a perceived group position (even when it conflicts with their own beliefs or judgment) |
| Open ended questions (Unstructured questions) | Questions where a researcher asks participants to provide a verbal or textual response |
| Closed-ended questions (structured questions) | Questions where a researcher provides a set of options from which to choose a response, also called structured questions |
| Syndicated marketing research companies | Source of secondary data for marketing research that is collected by a marketing research company and can be purchased by organizations |
Created by:
mkale
Popular Marketing sets