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Lesson 5
Marketing Research
| Question | Answer |
|---|---|
| Marketing Research Process | 1. Define the problem 2. Develop the research plan 3. collect data 4.develop findings 5.take actions based on your findings |
| Defining the problem | what stage? What decision? What information? What data? |
| Developing the research plan | How? What? Primary or Secondary? ourselves or marketing research firm? Constraints? |
| Primary Research | Original data collected by the researchers |
| Secondary Research | data collected and analyzed by someone else |
| Exploratory Research Goal | To explore an early stage idea and gather more information about it |
| Descriptive Research Goal | To describe the current situation, consumers, environment, market, etc. ( This does not involve causes) |
| Causal Research Goal | To understand the cause of a certain phenomenon or behavior. Used when marketers are predicting a specific casual relationship between two phenomena, for example, increased advertising causes higher sales |
| Continuous Data | Scanner Data, Panel Data, Cookies, Credit Card Transaction, |
| Data Quality | Who collected? For what purpose? How/When? consistent and logical? instrument available? |
| Emerging Marketing Research Techniques | Observational Research Ethnographic Research |
| Ethical Concerns: Deceit and Fraud | manipulating data lying to participants disguising a sales attempt as a piece of marketing research |
| Ethical Concerns: Invasions of Privacy | gathering data on consumers without there permissions industrial espionage |
| Participants Rights | Right to Privacy Right to Safety Right to Information Right to Self-Determination |
| Marketing Research | the process of defining a marketing problem and opportunity, systematically collecting and analyzing information and recommending actions |
| concepts | ideas about products or services |
| methods | the approaches that can be used to collect data to solve all or part of a problem |
| sampling | selecting representative elements from a population: probability and non probability |
| probability sampling | involves using precise rules to select the sample such that each element of the population has a specific known chance of being slected |
| nonprobability sampling | use arbitraty judgments to select the sample so the chance of selecting particular element may be unknown or 0 |
| information technology | involves operating computer networks that collect, store and process data |
| data mining | the extraction of hidden predictive information from large databases. |
Created by:
lfowler322
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