Chapter 28 & 29 Marketing – Flashcards
Unlock all answers in this set
Unlock answersquestion
Marketing research
answer
gathering, recording and analyzing information about consumer behavior and sales
question
MR used to
answer
determine consumers attitudes and preferences test product features determine market size and potential learn about competitors
question
MR is important because it
answer
minimizes loses and helps with decisions and problems Marketing information systems
question
Marketing information systems
answer
procedures and methods for generating analyzing and storing data about consumers sales and advertising
question
examples of marketing information systems
answer
company records competition customers government market research
question
CRM
answer
customer relationship management
question
database marketing
answer
designing creating and managing customer lists using technology
question
data base
answer
computer file of related information about a specific topic primary public concern about MR
question
quantitative
answer
gathers info from large segments of people relies heavily on surveys
question
what does quantitative ask
answer
how many or how much
question
qualitative
answer
focuses on smaller groups relies on interviews
question
qualitative asks
answer
how or why
question
attitude research
answer
opinion research how consumers feel about products etc satisfaction surveys consumer panels
question
market research (intelligence)
answer
research about size and location of market the competition and segmentation
question
market research creates
answer
profile of customers competitors and overall industry
question
sales forecasting
answer
sales potential and individual market share
question
economic forecasting
answer
predicting general economic conditions (government data)
question
Media Research
answer
measure effectiveness of message and media placement brand awareness radio tv
question
people meters
answer
automated tracking of TV viewing
question
SRDS (standard rate and data service)
answer
publishes rates and data for advertising industry
question
Product research
answer
evaluates product design and packaging product acceptance and usage
question
test marketing
answer
when a new product is place in select geographic areas (adv feedback dsadv competitors)
question
Global market place
answer
continuing increased international competition
question
TWM (total wuality management)
answer
improves business operations by gather and using database research
question
Limitations of MR
answer
resources time and test markets
question
5 steps in conducting market research
answer
define the problem obtain data analyze data recommend solutions apply results
question
define the problem
answer
clearly identify the problem then determine what is needed to solve it MOST DIFFICULT STEP IN MARKETING RESEARCH PROCESS
question
second step
answer
obtain data
question
secondary data
answer
has already been collected by someone else can be obtained from both internal and external sources
question
primary data
answer
obtained for the first time original research
question
secondary data examples
answer
internet government research business publications trade publications
question
advantages of secondary data
answer
can be obtained quickly less expensive
question
disadvantages of secondary data
answer
may not be suitable for problem or outdates
question
primary data
answer
obtained by company research commercial research
question
method for collecting primary data
answer
survey method observation method experimental method
question
survey method
answer
data gather directly from people by using interviewS or questionnaires MOST FREQUENTLY USED METHOD
question
sample
answer
part of total population assumed to represent entire population
question
examples of survey method
answer
interviews telephone interviews mail/ online survey
question
observation method
answer
people actions are observed and recorded in either set up or natural situations
question
point of sale research
answer
combines natural observation followed by personal interviews
question
observation method is
answer
fastest and often most cost effective
question
experimental method
answer
researchers observe under controlled situations the results of changing one or more marketing variables USED LEASE OFTEN
question
step 3
answer
analyze the data
question
data analysis
answer
compiling analyzing and interpreting the results of primary and secondary data
question
step 4
answer
recommending solutions
question
recommend solutions
answer
conclusions drawn from research are usually presented in report form
question
step 5
answer
applying the results
question
applying the results
answer
MR report used by management to make decisions then monitor results for desired outcome
question
validity
answer
when questions asked truly measure what was intended
question
reliability
answer
when research produces nearly identical results in repeated trials
question
open-ended questions
answer
asks respondent to construct their own responses
question
force choice questions
answer
ask respondents to choose from list of possible answers
question
filter questions
answer
yes/no guides respondent to answer only those questions that apply
question
multiple choice
answer
always include other as final choice
question
rating scale/level of agreement
answer
use even # of choices
question
guidelines for surveys/questionnaires
answer
make questions clear no leading questions no bias pre test formatting clear directions incentives demographic at end
question
leading questions
answer
ones that suggest a correct answer
question
bias
answer
encouraging one outcome/answer over others
question
formatting
answer
visual appeal and design of survey
