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L4 ME - Market Research > Month 5 > Flashcards

Month 5 Flashcards

K8: The principles of effective market research and how this can influence marketing activity e.g., valid data collection sources and methodologies and usage, including digital sources, and when to use quantitative and qualitative methods. (90 cards)

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1
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A
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2
Q

What is the definition of Marketing Research?

A

The collection, analysis, and communication of information undertaken to assist decision making in marketing (Wilson, 2006).

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3
Q

What are the three main areas where effective marketing decisions rely on information?

A
  1. Information on customers 2. Information on other organisations 3. Information on the marketing environment.
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4
Q

What are the four roles of marketing information?

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Descriptive, Comparative, Diagnostic, Predictive.

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5
Q

What does the term ‘Population’ refer to in marketing research?

A

The group on whom the research needs to be carried out, i.e., the audience.

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6
Q

What is the purpose of identifying the ‘Purpose’ in the Marketing Research Mix?

A

To clearly define what the research is for.

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7
Q

What does ‘Procedure’ refer to in the Marketing Research Mix?

A

How you are going to find out the answers to the Purpose questions from the Population.

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8
Q

What is meant by ‘Publication’ in the Marketing Research Mix?

A

What you plan to do with the results and who needs to see them.

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9
Q

What is the role of sampling in marketing research?

A

To estimate characteristics of the whole population.

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10
Q

What should students understand from the session on Gathering Primary Research?

A

The principles of effective market research and how this influences marketing activities (K8).

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11
Q

What is a key advantage of sampling in research?

A

It overcomes the impracticality of asking the entire population.

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12
Q

What are the benefits of using sampling in research?

A

It?s cheap, efficient, manageable, and allows high precision.

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13
Q

How does the accuracy of a sample affect research outcomes?

A

The more accurate the sample, the more reliable the extrapolation.

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14
Q

What is primary research?

A

Data collected directly to meet specific research objectives.

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15
Q

What question does qualitative research aim to answer?

A

‘Why?’

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16
Q

What question does quantitative research aim to answer?

A

‘How many?’

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17
Q

What are the characteristics of qualitative research?

A

Less structured, small samples, deeper insights, skilled researchers needed.

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18
Q

What is the purpose of individual depth interviews?

A

To explore subjects in detail and understand consumer attitudes.

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19
Q

What is a focus group?

A

A group discussion to gain rich, qualitative insights.

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20
Q

What is the typical size of participants in a focus group?

A

6?12 participants.

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21
Q

What role does the moderator play in focus groups?

A

Guides discussion and ensures constructive input.

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22
Q

What are key considerations for group discussions in qualitative research?

A

Participant recruitment, screening questions, venue selection.

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23
Q

What is the recruitment process for focus groups?

A

Screening participants and ensuring attendance.

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24
Q

What is the nature of qualitative research samples?

A

Small, non-random, carefully selected for depth.

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25
What type of insights does qualitative research provide?
Non-quantifiable insights into attitudes and motivations.
26
What is the main focus of qualitative research?
Understanding underlying reasons behind behaviors.
27
Why is qualitative research used?
For exploratory research, new products, and idea generation.
28
What is a key feature of individual depth interviews?
They are longer and allow deep probing.
29
What is the structure of qualitative research?
Typically unstructured or loosely structured.
30
What is a critical aspect of focus group success?
Group dynamics.
31
What is the minimum number of groups recommended?
More than two, to reduce bias.
32
What is a discussion guide?
A flexible agenda for topics in qualitative research.
33
What factors can affect group discussion outcomes?
Moderator skill, participant no-shows, dominant respondents.
34
What is quantitative research?
Structured research to produce measurable, numerical data.
35
List key features of quantitative research.
Structured, larger samples, replicable, statistically analysed.
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What research involves observing behavior without questions?
Observational research.
37
What behaviors can observational research measure?
Actions, speech, spatial/temporal patterns, and objects.
38
What is the focus of online usability testing?
Measuring user performance during specific tasks.
39
What are key elements of survey design?
Introduction, screening, subject questions, classification, conclusion.
40
What is the purpose of screening questions?
To identify qualified respondents.
41
What does experimental research measure?
Causal effects of one variable on another.
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What is the significance of the introduction in a survey?
It outlines purpose and expected outcomes for the respondent.
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What can online surveys provide?
Efficient feedback, visitor targeting, and mixed data types.
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What is a potential issue in group discussions?
Dominant participants can skew results.
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How does quantitative research support comparisons?
Structured format enables direct result comparison.
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What is the role of a moderator in group discussions?
Facilitates conversation and manages dynamics.
47
What are benefits of online surveys?
Low-cost, fast results, detects problems and opportunities.
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What is the purpose of a survey's conclusion?
To thank participants and formally close the process.
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What is the effect of participant no-shows in groups?
Reduced effectiveness and validity of results.
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What is the main focus of experimental research?
Observing variable effects under controlled conditions.
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Who are key authors referenced in marketing research theory?
Bradley (2007) and Wilson (2006).
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What is secondary data?
Previously collected data reused for new research.
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What are benefits of secondary research?
Fast, low-cost, method guidance, background insight.
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What are limitations of secondary research?
Limited availability, compatibility, accuracy, and completeness.
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How does secondary research support primary research?
It informs questionnaire design and target focus.
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How does secondary research help external analysis?
It offers insights into competitors and market conditions.
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How can secondary research help with customer insights?
Identifies segments, preferences, and behaviour trends.
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How does secondary research support decision-making?
Provides relevant background to support strategic choices.
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What issue relates to data availability in secondary research?
Needed data may not exist.
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Why is accuracy important in secondary research?
It affects reliability and the credibility of findings.
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What factors influence secondary data accuracy?
Source credibility, methodology, and sample size.
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What does 'applicability' mean in secondary research?
Data relevance and measurement unit alignment.
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What is a common issue related to completeness of data?
Missing variables limit analysis.
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What is comparability in secondary research?
The ability to integrate different data sources.
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How can secondary research highlight early problems?
It identifies issues before launching primary research.
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How does the internet enhance secondary research?
It speeds up data access and source reach.
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What is a key outcome from understanding secondary research?
Recognising its influence on marketing activity.
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What are internal data sources?
CRM data, sales, customer feedback, campaign metrics, analytics.
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What are external data sources?
Search engines, social media, government data, trade bodies.
70
What is social media listening?
Monitoring online platforms for brand or industry mentions.
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What insights can social media listening reveal?
Demographics, sentiment, engagement, competitor activity.
72
What is Google Alerts used for?
Tracking new content on competitors or industry terms.
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What should be considered when presenting research?
Audience needs, relevance, key points, context, and next steps.
74
Describe characteristics of a bar chart.
Bars represent data horizontally or vertically.
75
What is the purpose of a line graph?
To show trends and data movement over time.
76
How is a pie chart structured?
A circle divided into segments by value proportion.
77
What is a pictogram?
Data shown through symbols or pictures.
78
Define data in marketing.
Raw facts or figures needing interpretation.
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What is information in marketing?
Processed data with context and meaning.
80
Explain 'intelligence' in marketing.
Synthesised information forming a broader understanding.
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What does insight mean in marketing research?
A deeper understanding of consumer behaviour and trends.
82
What components make up the MkIS?
Marketing environment, managers, and information system.
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What are key areas in marketing information development?
Target markets, channels, competitors, publics, macro forces.
84
What are steps for presenting research data?
Summarise key points, explain context, recommend actions.
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What is the role of marketing intelligence?
Gathering insights from various sources to inform strategy.
86
How does data impact marketing decisions?
It drives planning, execution, and performance evaluation.
87
Who authored referenced marketing texts?
Kotler & Armstrong (2008), Wilson (2006).
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What?s the difference between data and intelligence?
Data is raw; intelligence is connected, analysed insight.
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What can web analytics track?
Site visits, behaviours, sources, and conversion paths.
90
What is the value of customer feedback?
Identifies satisfaction levels and areas for improvement.

L4 ME - Market Research (1 decks)

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