Research Problem & Ethics + Ch3

Question 1

Marketing Research

Answer 1

Marketing research is the systematic gathering, recording, and analysis of data about issues relating to marketing products and services

Question 2

Three functions marketing research aims to answer

Answer 2

Descriptive function - what?
Diagnostic function - why?
Predictive function - if-then

Question 3

6 steps of market research process

Answer 3

1. Translate business problem into research questions
2. Design research program to answer research questions
3. Collect data
4. Analyze research results
5. Interpret research findings and make recommendations
6. Communicate recommendations to business audiences

Question 4

Defining research objectives (3 components)

Answer 4

Independent variables (IVs)
Dependent variables (DVs)
Hypotheses

Question 5

Independent variables (IVs)

Answer 5

Can be manipulated
Influences dependent variables

Question 6

Dependent variables (DVs)

Answer 6

Outcomes influenced or explained by independent variables

Question 7

Hypotheses

Answer 7

Statements that are taken as true for the purpose of argument or investigation

eg: promoting a small incentive to students (such as a t shirt) will increase blood donations

Question 8

Problems

Answer 8

Situations that call for managers to make choices among various alternatives

Question 9

4 steps to the process of defining a problem

Answer 9

1. Recognize the problem
2. Understand the background of the problem
3. Determine the decision alternatives
4. Formulate the problem statement

Question 10

2 ways to recognize the problem (process of defining a problem)

Answer 10

Failure to meet an objective (KPIs are a teller)
Identification of an opportunity

Question 11

Understand the background of the problem (process of defining a problem)

Answer 11

Conduct a situation analysis - a form of exploratory research to help determine the root causes of a problem
Clarify the symptoms - symptoms often confused with problems. Role of a symptom is to alert management that there exists a problem
Determine the probable cause of symptoms - narrowing down the root causes to a small set of probable causes

Question 12

Determining the decision alternatives (process of defining a problem)

Answer 12

All the marketing actions that the manager thinks may resolve the problem - manager and researcher must determine which action is best

Question 13

Problem Statement

Answer 13

The problem statement consists of a concise description of the problem or opportunity that management is facing that requires research to make a decision

eg: an app dev hopes to increase the number of downloads of her app
eg: a snack manufacturer seeks to increase sales by offering sustainable packaging

Question 14

Research objective

Answer 14

A goal-oriented statement or question that specifies what information is needed to solve a problem

Should be clear, specific, actionable, and obtainable through marketing research

eg: to determine what college students see as the benefits of donating blood