Question Set E F G Flashcards
What decisions are made by marketing managers and how does market research support them?
Marketing managers make strategic and tactical decisions such as identifying opportunities, target market selection, and marketing plan implementation. Market research supports by describing customer groups, understanding market forces, testing marketing mix variables, and reviewing past decisions.
What arguments support investment in market research?
It replaces hunches with data, increases the probability of making good decisions, and contributes to long-term performance and insights.
Why is defining the market research problem correctly vital?
It guides the entire research process. An incorrect definition leads to irrelevant data and potentially misleading conclusions, regardless of technical proficiency.
Why is management often unclear about the real problem?
They focus on symptoms, face time constraints, rely on tacit decision-making, and have subjective biases.
Define research design.
A blueprint for conducting research that outlines procedures for collecting and analyzing data to solve a problem.
What do decision-makers expect from research designs?
Accuracy, currency, sufficiency, availability, and relevance.
How does the subject of a study affect research design?
Public vs private nature of the topic, ability to articulate feelings, and respondent awareness affect method choice.
How is formulating a research design different from developing an approach?
The approach sets the broad direction; research design details how to implement it.
What are the benefits to marketing decision-makers of capturing in-store consumer data?
Builds customer profiles, monitors buying behavior, evaluates promotions, and informs distribution strategies.
What are the benefits to researchers of capturing in-store consumer data?
Enables causal testing, statistical modeling, identifies gaps in knowledge, and allows fusion of behavioral and attitudinal data.
