course recap Flashcards
(36 cards)
What is the role of problem definition in market research?
It specifies research questions to be answered and the objectives of the research.
A crucial initial stage that indicates a specific marketing decision to be clarified or problem to be solved.
Define qualitative research.
The collection of data in the form of text or images using open-ended questions, observation, or ‘found’ data.
It deals primarily with ‘why’ questions.
What is a key advantage of personal interviews in qualitative research?
Depth, flexibility, and comprehensiveness of information.
They are particularly good for understanding complicated or sensitive situations.
What is a focus group?
A small group of respondents (6-12) led by a trained moderator to discuss topics in a relatively non-structured manner.
Commonly used for exploratory research to understand consumer perceptions.
List at least three criteria used to compare focus groups, depth interviews, and projective techniques.
- Degree of Structure
- Probing of individual respondents
- Overall usefulness
What is the significance of secondary data in market research?
It provides insights and can achieve various research objectives using existing data sources.
It includes both internal and external sources of data.
What are the typical objectives for secondary data research designs?
To discuss advantages and disadvantages, understand types of objectives, and describe sources of secondary data.
This includes discussing the impact of single-source data.
What is an experiment in the context of market research?
A controlled procedure to measure the effects of variables under realistic conditions.
It often involves test marketing.
What is a test market?
A controlled experimental procedure under realistic market conditions to measure sales or profit potential.
Key decisions involve whether to test market, length, and location of the test.
What are the stages of the measurement process?
- Specify information sought
- Determine type of questionnaire
- Determine question content
- Determine response form
- Determine wording
- Determine question sequence
- Pretest the questionnaire
What is the difference between probability and non-probability sampling?
Probability sampling involves random selection, while non-probability sampling does not.
Each method has its advantages and disadvantages.
What does the Chi-square statistic help determine?
Whether the difference between observed and expected frequency distributions can be attributed to sampling variation.
It is checked against the p-value for significance.
What does R-Square indicate in regression analysis?
The level of variation in the dependent variable explained by independent variables.
A higher R-Square indicates better explanatory power.
What is the purpose of conducting an ANOVA?
To determine if there are statistically significant differences between the means of three or more groups.
It involves checking the p-value for significance.
Fill in the blank: A _______ is a method to gather data from a sample of individuals to understand consumer behavior.
[survey]
True or False: Focus groups are structured interviews that follow a strict format.
False.
They are relatively non-structured and allow for free-flowing discussion.
What is the main focus of exploratory research?
To gain insights and understanding of consumer perceptions and behaviors.
Often conducted through focus groups or qualitative interviews.
What does the term ‘sampling’ refer to in research?
The process of selecting a subset of individuals from a population to estimate characteristics of the whole population.
Sampling is essential for conducting research efficiently.
Descriptive research
purpose is to describe characteristics of a population (e.g. determining who purchase a product, portraying the size of the market, identifying competitors actions)
- measure phenomena using methods such as surveys, panels and observations
Exploratory research
technique used when little is known about the research problem
- understand issues using methods such as interviews, focus groups and secondary data
causal research
identifies cause and effect relationships among variables using methods such as experiments
fact finding
identifying consumption patterns, tracking trends
model building
estimating market potential, forecasting sales, selecting trade areas and sites
database marketing
- enhancing customer databases, developing prospect lists
- using CRM database to develop relationships and precisely targeted promotional efforts with individual customers
