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201POM > Lesson 4: Marketing Research > Flashcards

Lesson 4: Marketing Research Flashcards

1
Q

A systematic Investigation.

A

research

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2
Q

A process of seeking out answers to a specific problem.

A

research

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3
Q

a systematic study of challenges, modelling, and fact-finding for the essential decision-making and control in the marketing of products and services.

A

marketing research acc. to philip kotler

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4
Q

the systematic gathering, recording, and analyzing of data about problems relating to the marketing of goods and services

A

marketing research acc. to ama

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5
Q

ama stands for

A

american marketing association

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6
Q

process of collecting, analyzing, and interpreting data about your target market, consumers, competitors, and the industry as a whole

A

market research

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7
Q

vital to the development of effective marketing campaigns and programs.

A

marketing analysis

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8
Q

being used recently to help build and improve brand value.

A

marketing research

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9
Q

It is an important to research

A

buyer behavior; shifts in customer preferences and patterns of purchase; brand loyalty; forecasting market changes

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10
Q

The analysis is also used to research

A

rivalry and to evaluate the role of the rival product and how to achieve a competitive advantage

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11
Q

how is marketing research important to income

A

offers the highest return on marketing investment

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12
Q

why is marketing research important to customer expectations

A

it clarifies customer expectations that have not been addressed

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13
Q

helps to establish standards and to manage the plans cautiously and to take the appropriate steps and to give an opinion on the amount, importance, or quality of their results.

A

marketing analysis

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14
Q

The most valuable aspect of marketing research is to

A

help identify possible problems and provide enough time to uncover the facts and determine an appropriate solution

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15
Q

seven stages of marketing research process

A

identifying the research problem; deciding the research design; selecting the method for collecting primary data; designing the study; collecting data; evaluating and interpreting data; preparing the research report

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16
Q

This is the starting point for a marketing analysis exercise.

A

problem definition

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17
Q

It is important to be __________ in the definition of problems

A

specific

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18
Q

when coming up with a research problem, you must be as

A

deductive as you can

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19
Q

your research problem should be related to a

A

theory

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20
Q

an explanation of events or phenomena or behavior

A

theory

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21
Q

Once the problem has been established, the next logical step is to

A

state what the researcher wants to accomplish

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22
Q

research objective is also known as

A

objective/goals

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23
Q

intended to serve as a guide to the researcher and to help him keep focus during the research process.

A

research objective

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24
Q

. To order to be relevant and encourage the researcher to concentrate his attention, these goals should be

A

precise, attainable, and observable

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25
Q

The third stage in the marketing research process is deciding on the

A

research design

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26
Q

three types of research design

A

exploratory, descriptive, causative

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27
Q

Collecting information in unstructured or informal manner.

A

exploratory research

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28
Q

This form of study is carried out when the researcher does not know how and why a certain phenomenon happens

A

exploratory research

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29
Q

the primary aim of exploratory research is to

A

learn the unknown

30
Q

the work involved in exploratory research is

A

unstructured

31
Q

techniques used in exploratory research

A

case study, focus group discussion, pilot survey, interviewing key consumer groups, experts, and looking for written/published info

32
Q

It refers to a set of method s and procedures describing the marketing variables.

A

descriptive research design

33
Q

This research is conducted to identify a trend or business characteristics.

A

descriptive research

34
Q

It describes the characteristics of the group, situation, or phenomenon being studied without manipulating variables.

A

descriptive research design

35
Q

a study to understand the actions of the consumer and to explain the characteristics of the target market is a

A

descriptive study

36
Q

research into how customers determine the quality of competing service organizations can be seen as a definition of

A

descriptive analysis

37
Q

how can descriptive research design be reported

A

survey, observational studies, case studies

38
Q

This form of research is undertaken to create a relationship of cause and effect, such as the impact of income and lifestyle on buying decisions.

A

causal research

39
Q

Here, the researcher may like to see the effect of an increase in income and shifting lifestyles on the consumption of selected goods.

A

causal research

40
Q

causal research involves

A

cause and effect

41
Q

method of causal research design

A

experiment

42
Q

Once the study concept has been determined, the next step is to pick the

A

data sources

43
Q

two sources of data or information

A

secondary and original/priimary

44
Q

refer to data obtained directly from the marketplace-customers, dealers, and suppliers are also the primary sources. They are also accurate data sources and help to address secondary data limitations.

A

primary data

45
Q

It is often used when secondary data is missing.

A

primary data

46
Q

problem with primary data

A

cost, both in terms of money and time

47
Q

another issue with primary data

A

researcher’s prejudice

48
Q

This piece of information obtained earlier by someone else.

A

secondary data

49
Q

Information are already collected.

A

secondary data

50
Q

examples of secondary data

A

written or released records, new stories, business/trade figures, invoices, revenue records, consumer payment history

51
Q

secondary data also includes

A

internal data like invoices, revenue records, consumer payment history

52
Q

why are internal documents valuable to the researcher as secondary data

A

they provide insight into the issue

53
Q

it is always limited to secondary data.

A

preliminary analysis

54
Q

after selected the data source, the researcher must go through with

A

data collection

55
Q

two ways to collect data

A

observation and experimentation

56
Q

the two ways to collect data can also be

A

a combination of observation and experimentation

57
Q

This method includes watching how a customer acts in a retail area, how he or she dresses up, and what the customer says when he or she sees the product.

A

observation method

58
Q

this is a strategy that involves experimenting with new product concepts, promotional copies & promotions, sales promotion concepts & even pricing & delivery techniques for the target consumer community. Such tests may be performed in an unregulated environment or a controlled and simulated business environment.

A

experimentation

59
Q

three types of data collection methods

A

questionnaire, schedule of interviews, association test

60
Q

used for the form of survey

A

questionnaire

61
Q

Schedule of interviews are used mainly for

A

exploratory analysis

62
Q

Association test are primarily used in

A

qualitative studies

63
Q

The next step after data collection is the

A

interpretation of the data

64
Q

what type of data is not used in marketing research

A

raw data

65
Q

the simplest way to analyze data

A

numerical analysis (e.g. percentages and ratios)

66
Q

examples of statistical analysis

A

mean, median, style, percentage, standard deviation, and correlation coefficient

67
Q

The last step is to

A

write a report/make a presentation to the decision-maker

68
Q

the presentation and report of market research must include a

A

summary

69
Q

the summary of a market research is also known as

A

executive summary

70
Q

provides a birds-eye view of the analysis.

A

executive summary

71
Q

guide the reader’s attention to specific issues by referring to the related sections of the report.

A

executive summary

72
Q

layout of a good report for market research

A

application of the problem, marketing study results/survey results, interpretation the results of the study, implications of strategy

201POM (13 decks)

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