4/4 of course Flashcards
(24 cards)
what are qualitative exploratory methods?
case studies, focus groups, qualitative research
- characteristics: flexible, versatile, but not conclusive
- useful for: discovery of ideas and insights
what are quantitative descriptive methods?
surveys, panels, scanner data
- characteristics: preplanned, structured, conclusive
- useful for: describe market characteristics or functions
what are causal quantitative methods?
experiments
- characteristics: manipulation and control of variables
- useful for: determine cause and effect relationships
what is a focus group?
Most common type of qualitative research
- Ask open-ended questions and let participants speak freely
- Content analysis of focus group discussion
- Identify important features and other (emergent) issues not known to marketer yet
what are the conditions for establishing causality?
- Association (cause and effect must be correlated)
- Temporal precedence (cause precedes effect)
- Eliminating other causes
what is post-test only?
Outcome measured only at the end
what is Post-test only with covariates?
alternative explanations measured and statistically controlled as covariates
what is pre-test and post-test?
outcome measured at beginning (brand liking and intent to purchase) and end (ad liking, brand liking, intent to purchase)
what are threats to internal validity?
- history of events
- maturation
- instrument variation
- experimental mortality (loss of respondents)
- pre-measurement/interactive testing effect
- selection bias
- statistical regression
what are threats to external validity?
- surrogate situation (not reality)
- questionable measurement of dependent variable
- measurement timing
- sample selection
what is symbolic value?
when a product is connected to something
what are the types of symbolic value?
- Emblematic
- Connectedness
- Role acquisition
- Expressiveness
what is emblematic function?
used to signify membership to social groups
- ex: bikers and harley davidson
what is connectedness function?
Connection to local/narrow external groups
- Family, friends, classmates, colleagues, product/brand communities
- Smaller groups and more personal contact with groups
what is role acquisition function?
connection to a lifestyle
- ex: student lifestyle
what is expressiveness function?
connection to one’s unique identity
what are characteristics of special possessions?
- High willingness to pay
- Low willingness to sell
- Not discarded
- New uses
- Personified
what are the 3 reasons to buy?
- functional/cognitive value
- affective value
- symbolic value
what are the 3 stages of gift giving?
- gestation stage: when we consider what to give someone
- presentation stage: when we give the gift
- reformation stage: when we re-evaluate the relationship based on the gift giving experience
Successful new products are at the intersection of 3 circles:
customer need, technology, and cost
When innovation is incremental or an extension of “comparable” with other innovations:
forecast by analogy
When innovation is radical, “nothing like it,” one-of-a kind, then use:
(Size of potential market) x (Likely market share)
Describe different target segments at different stages of the PLC
- innovators (venturesome)
- early adopters (leaders)
- early majority (deliberate)
- late majority (skeptical)
- laggards (fear of debt)
what is the effect on consumers of more information online?
- more attention to recommendations
- more choice of known brands
- more choice postponement