Market Research Flashcards
(39 cards)
Define Marketing
The process of planning and executing the conception, pricing, promotion, and placement of goods and services to create exchanges that satisfy individual and organizational objectives.
What is the main purpose of Market research?
Its a means of understanding the environment and market segments
What is market research?
links the consumer to the marketer through information that is used to
- identify and define marketing opps/probs
- generate and eval marketing actions
- monitor performance
- improve the process
when should we not conduct market research?
- not enough rescues (time/money)
- managers cannot agree on what they need to know
- Research cost outweigh benefits
Positive aspects of internet surveys
- rapid access to information
- easy management
- reduce costs
- quick to publish results
- easier to follow up longitudinal studies
- higher response rates
- can contact the hard to reach
- can be updated instantly
Neg of internet surveys
- sample might not represent the population
- could over-survey your audience
- not everyone has an internet connection
- you can’t see body language, depth of comments
Users of market research?
Internal clients
External Clients
(every level in a business can use MR)
Explain the Deontology perspective
People should adhere to their (moral obligations) when analysing a dilemma.
What is the utilitarianism ethical perspective?
Cost/Benefit analysis. Do the benefits outweigh the costs?
Explain the Casuist ethical perspective
(based on historic evidance) - Current ethical dilemma resolved by perusing examples of similar situations.
What are the 7 BUHREC principles?
- Notice
- Choice
- Onward Transfer
- Access
- Security
- Data Integrity
- Enforcement
What are some examples of unethical behavior?
- Low Ball pricing
- be subjective in your research
- abusing respondents
- selling unnecessary research
- misrepresentation
- Blk box branding
What are some examples of unethical behavior by clients?
- Requesting bids after supplier has been predetermined
- Requesting bids to obtain free advice
- Making false promises
- Proposals without authorization
What is the market research process?
1 - Problem and objectives 2 - Building/Design the study, Choose research method 3 - selection of sampling procedure 4 - Collect data 5 - Data analysis 6 - write and present report 7 - Follow up
What is exploratory research?
Research that is contracted fro a problem not yet properly defined.
What is descriptive research
It describes the characteristics of a population or phenomena
What is causal research?
Attempts to describe a relationship between two variables
What is primary research?
Research you have conducted yourself from (Focus groups, survey or one on one interviews)
What is secondary research?
Research that has been collected by someone else
What is a research request?
an internal document that describes a potential research document. (action, origin, information, use, targeting, logistics, comments)
What is Qualitative research?
Method of inquiry employed to gather in-depth understand of human behavior and reasons why.
What is Quantitative Research
This method is used to gather opinions in a structure way to produce statistical evidence. You must survey large numbers of people
What are cross sectional surveys?
- Provides insight on a matter in a specific moment in time (comparing age cohorts of genders)
What are longitudinal surveys?
- Provides insight on a matter over a period time using the same survey and sample. (I want to know your opinion about the government)
