Chapter 8

Question 1

Procedures that design, gather, analyze and report research that may be used to solve a specific problem for a market, or segmented group

Answer 1

• Market Research

Question 2

• Scientific method (3)

Answer 2

o Objective
o Orderly
o Tests ideas

Question 3

Uses of market research?
o ___marketing opportunities and problems
o ___, ___and ___potential marketing actions
o Monitor marketing ___
o Improve marketing as a ___

Answer 3

o Identify

o Generate, refine and evaluate

performance

process

Question 4

• Market Research Process (5 steps)

Answer 4

o 1. Define the problem/research objective
o 2. Analyze the situation
o 3. Get problem specific data

o 4. Interpret data
o 5. Solve the problem

Question 5

 what was supposed to happen and what did happen

Answer 5

o 1. Define the problem/research objective

Question 6

 Situational Analysis
 ___data sources
• Pre-collected data from a variety of sources
• More accessible
• E.g. Newspapers, research articles, web sites

Answer 6

o 2. Analyze the situation

secondary

Question 7

1. ______
   
   1. Data is collected by researchers for specific projects
   2. • E.g. interviews, surveys, fieldwork
2. _______
   
   1. • Uses structured questions
   2. • Predetermined responses
   3. • Large groups of respondents
3. ______
   
   1. • In-depth, open-ended responses

Answer 7

3. Get problem specific data
4. primary data source
5. quanitative research
6. qualitative research

Question 8

 Extract findings from data
 Tabulate data
 Statistical software

Answer 8

o 4. Interpret data

Question 9

 “Sexy/rich findings”
 Application in marketing strategy planning
 Evaluate
 Report findings

Answer 9

o 5. Solve the problem

Question 10

Quantitative vs. Qualitative

• Quantitative
  
  • 1) Benefits (2)
  • 2) Disadvantages (1)
  • 3) Types (3)
• Qualitative
  
  • 4) Benefits (3)
  • 5) Disadvantages (2)
  • 6) Types (2)

Answer 10

1) Easy to measure and analyze data
Statistically reliable

2) • Costly
3) • Surveys

• Consumer panels
• “People meter” – wear tech stuff to monitor behaviors

4) • More rich in-depth responses

• Small sample size
• Studies context and social meaning and effects of on individuals

5) • Subjectivity

• Time-consuming

6) • Interviews

• Focus groups

Question 11

Types of research

1. gathers preliminary data (e.g. focus groups, interviews, small surveys)
2. : describes the market potential for a product, consumer attitudes and behavior (e.g. large surveys)
3. tests hypotheses about cause-effect relationships (e.g. experiments)

Answer 11

1. o Exploratory research
2. o Descriptive research
3. o Casual research:

Question 12

• **Info only: New Forms of Market Research

Answer 12

o QR Codes
o Data mining
o Web community research

Question 13

Poor Questions

• o When was the last time you upgraded your computer and printer?
  
  • 1) when someone asks a question that touches upon more than one issue, yet allows only for one answer
• o Now that you’ve seen how you can save time, would you buy our product?
  
  • 2) giving part of answer to participant
• o Do you approve of the governors’ oppressive immigration policy?
  
  • 3) a question which contains a controversial or unjustified assumption

Answer 13

1. Doubled-barreled
2. Leading question
3. Loaded question

Question 14

• **Info only: Market Research Implications

Answer 14

o Contribution to marketing discipline
o Benefits to marketers
o Benefits to consumers

o Future research

Question 15

• **Info only: Prominent Market Research Companies

Answer 15

o nielsen
 o SMR (Suncoast Market Research)
 o Trendology Research
 o RMS (Research & Marketing Strategies, Inc.)

Question 16

• **Info only: Leading Marketing Journals

Answer 16

o JMR
o Journal of Consumer Research
o The Journal of Advertising
o Journal of Marketing

Question 17

o Procedures that develop and analyze new information about a market

Answer 17

• Marketing research

Question 18

o Organized way of continually gathering, accessing, and analyzing information that marketing managers need to make ongoing decisions

Answer 18

• Marketing information system (MIS)

Question 19

o System for linking computers within a company
 Works like the Internet
 Limited to employees

Answer 19

• Intranet

Question 20

o Place where databases are stored so that they are available when needed
 Like an electronic library

Answer 20

• Data warehouse

Question 21

o Computer program that makes it easy for marketing manager to get and use information as he or she is making decisions

Answer 21

• Decision support system (DSS)

Question 22

o Computer program that helps marketing manager find information that is needed
 Helps change raw data into more useful information

Answer 22

• Search engine

Question 23

o Displays up-to-the-minute marketing data in an easy-to-read format
 Usually customized to manager’s areas of responsibility

Answer 23

• Marketing dashboard

Question 24

o Statement of relationships among marketing variables
 Puts managers online so they can study available data and make better marketing decisions - faster

Answer 24

• Marketing model

Question 25

o Decision-making approach that focuses on being objective and orderly in testing ideas before accepting them

Answer 25

• Scientific method

Question 26

o Educated guesses about the relationships between things or about what will happen in the future

Answer 26

• Hypotheses

Question 27

• Marketing research process o 5 step application of the scientific method

Answer 27

 1. Defining the problem  2. Analyzing the situation  3. Getting problem-specific data  4. Interpreting the data  5. Solving the problem

Question 28

o An informal study of what information is already available in the problem area  Can help define the problem and specify what additional information, if any, is needed

Answer 28

• Situation analysis

Question 29

1. Information that has been collected or published already 1. Provide answers or some background Ex. 1. • Company files, intranet, reports, cost data, people, sales, etc. 2. • Internet, libraries, governments, trade associates, universities, private research organizations

Answer 29

• Secondary data 1. Inside company 2. outside company

Question 30

o Information specifically collected to solve current problem Ex. 1. • Equipment (video, scanner, etc.), web site analysis, personal approaches 2. • In-depth and focus group interviews, online/phone/personal surveys, panels

Answer 30

• Primary data 1. Observation 2. Questioning

Question 31

* Plan that specifies what information will be obtained and how – to be sure no misunderstandings occur later * May include information about costs, what data will be collected, how it will be collected, who will analyze it and how, and how long the process will take

Answer 31

• Research proposal

Question 32

* o Seeks in-depth, open-ended responses, not yes or no answers * Tires to get people to share their thoughts on a topic – without giving many directions or guidelines about what to say

Answer 32

• Qualitative research

Question 33

* o Widely used form, involves interviewing 6 to 10 people in an informal group setting * Uses open-ended questions, but interview wants to get group interaction to stimulate thinking and get immediate reactions

Answer 33

• Focus group interview

Question 34

o Seeks structured responses that can be summarized in numbers, like percentages, averages, or other statistics

Answer 34

• Quantitative research

Question 35

o Percentage of people contacted who complete the questionnaire

Answer 35

• Response rate

Question 36

o Group of consumers who provide information on a continuing basis

Answer 36

• Consumer panels

Question 37

o Researchers compare the responses of 2 or more groups that are similar except on the characteristic being tested

Answer 37

• Experimental method

Question 38

o Easy-to-use computer programs that analyze data

Answer 38

• Statistical packages

Question 39

o Total group they are interested in

Answer 39

• Population

Question 40

o Part of the relevant population

Answer 40

• Sample

Question 41

o Range on either side of an estimate that is likely to contain the true value for the whole population

Answer 41

• Confidence intervals

Question 42

o Concerns the extent to which data measure what they are intended to measure

Answer 42

• Validity