Chapter 9: Marketing Research – Flashcards
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marketing research
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the process of planning, collecting, and analyzing data relevant to a marketing decision
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Analyzing of Marketing Research
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results of analysis are communicated to management
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What does marketing research accomplish?
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- main source of data for MIS - MKTG research project becomes main data source for MGMT decision making
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Three roles of MKTG research
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1. descriptive - gathering and presenting factual statement 2. diagnostic - explaining data 3. predictive - address "what if" questions
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MGMT uses of MKTG resources
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1. improves quality of decision making 2. helps decision makers trace problems 3. MKTG research can help managers understated very detailed and complicated relationships 4. gauge the perceived value of their goods/services
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satisfaction research
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carried out by individual product, product line, company industry level
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MKTG research helps managers understand what is going on in the
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marketplace and take advantage of opportunities
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WOM
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word of mouth advertising
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Marketing Research Process
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scientific process to decision making that maximizes the chance of getting accurate and meaningful results
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Market research is used to evaluate
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- product - promotion - distribution pricing alternatives
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Marketing research problem
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determining what information is needed and how that information can be obtained efficiently and effectively
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Marketing research objective
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defines the specific information needed to solve the MKTG problem and provides insightful decision making information
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Management decision problem
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broad based problem that uses MKTG research in order for managers to take proper action
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MGMT problems tend to be much broader in scope and far more generalized than MKTG research problems
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yes
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secondary data
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data previously collected for any purpose other than the one at hand
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secondary data is a valuable tool throughout
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research process and problem/opportunity stage
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outside sources of secondary information
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govt departments agencies trade and industry associations
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unpublished summarized secondary information
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contains internal reports, memos, special purpose analysis
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secondary data save time and money if they help solve problem
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aid in formulating the problem statement needed for solving the problem
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Disadvantages of secondary data
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stem mainly from a mismatch in researcher's unique problem and purpose for which secondary data is generated
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return on investment
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(TP-expenses) / investment made
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big data
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exponential growth in volume, variety, and velocity of information and the development of complex new tools to analyze and create meaning from such data
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Past:
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flow of data is slow, steady, predictable, and all data is quantitative
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Present;
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real time advertise; big data allows these auctions to take place in seconds
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Hadoop
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different analytic tasks are distributed among numerous computer services
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ability to crunch numbers mean nothing if
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you cannot apply it
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Big data analytics
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focus on what
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what are all the MKTers needs to create?
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kdjf;
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Why never comes into play with
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sending outu promotional email
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good secondary data and big data can
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help researchers conduct a thorough situation analysis
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research design
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specifies which research questions must be answered, how, and when the data will be gathered and how the data will be analyzed
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Project budgeting is finalized
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after research design has been approved
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Primary data
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information collected for the first time, used for solving the particular problem under investigation
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ADV of primary data
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- data answers specific research questions that secondary data cannot answer - available to all interested parties for relatively small fees
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piggyback studies
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gather data on two different projects using one questionnaire
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DISAD of primary data
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gathering data is expensive
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Techniques available for research
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survey, observation, and experiments
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survey research
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most popular technique for gathering primary data
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Types of survey research
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- in home personal (high quality info/cost) - mall intercept interviews - brief; hard to get representative sample of pop (disadv) but has the ability of interviewer to probe when necessary (adv)
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Computers and Research
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1. Computer assisted personal interviewing - conducts in-person interview and reads questions to respondent off of a screen; computer directly keys in the respondents answers 2. computer assistant self-interviewing - mall interviewer intercepts/directs willing respondents to nearby comp. and each respondent takes survey ' 3. fully automated self-interviewing - respondents guided by interviewers or independently approach a central located computer station
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Telephone Interviews
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cost less than personal interviews CLT facility - central location telephone (many phone lines, individual interviewing stations, computer assisted interviewing)
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Mail Surveys Advantage
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- low costs, elimination of interviewers and field supervisors - centralized control - actual or promised anomity for respondents
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Mail Surveys Disadvantage
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- low response rate - no one probes respondents to elaborate/ clarify - mail panels - alter to one-shot mail survey
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exclusive interview
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interviewing business people at offices concerning industrial products/service
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focus group
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type of personal interviewing; seven to ten people participate in a group discussion led by a moderator - often recruited by random telephone calls
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open-ended quesitons
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encourages an answer phrased in the respondents own words
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close ended questions
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asks the respondent to make a selection from a limited list of responses, either - dichotomus (Y/N) - multiple choice
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close ended and scaled ended responses
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- easier to tabulate than open-ended questions because response choices are fixed - good question = clear, concise, avoid ambiguity
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Clarity
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-state surveys purpose and begin of interview -avoid leading questions and adjectives that cause respondent to think of the topic a certain way -avoid asking two questions in one
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observation research
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watching what people do or using machines to watch what people do; research method that relies on 4 types of observation
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4 types of observation research
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- people watching people - people watching activity - machines watching people - machines watching activity
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Mystery shopping is classified as a
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observational marketing research method
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Behavioral target (BT)
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or tracking, began as a simple process by placing cookies in a users browsers
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social media monitoring
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the use of automated tools to monitor online buzz, chatter, and conversation
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ethnographic research
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the study of human behavior in its natural context; involves observation of behavior and physical setting
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Virtual shopping
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advances in computer technology have enabled researchers to simulate an actual retail store environment on a computer screen
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experiment
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method of gathering primary data in which the researcher alters one or more variables while observing the effects of those alterations on another variable
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sample
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a subset from a larger population
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universe
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the population from which a sample will be drawn
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probability sample
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a sample in which every element in the population has a known statistical likelihood of being selected
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random sample
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a sample arranged in such a way that every element of the population has an equal choice of being selected as a part of the sample
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non probability sample
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any sample in which little or no attempt is made to get a representative cross section of the population
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convenience sample
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a form of non probability sample using respondents who are convenient or readily accessible to the researcher - for example, employees, friends, and relatives
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measurement error
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an error that occurs when there is a difference between the information desired by the researcher and the information provided by the measurement process
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sampling error
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an error that occurs when a sample somehow does not represent the target population
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frame error
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an error that occurs when a sample drawn from a population differs from the target population
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random error
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an error that occurs when the selected sample is an imperfect respresentation of the overall population
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field service firm
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a firm that specializes in interviewing respondents on a subcontracted basis
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cross-tabulation
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a method of analyzing data that lets the analyst look at the responses to one question in relation to the responses to one or more other questions
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Advantages of Internet surveys
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- rapid development, real-time reporting - dramatically reduced costs - personalized questions and data - improved respondent participation - contact with the hard-to-reach
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Methods of conducting online surveys
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- web survey systems - google consumer surveys - online panel providers
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Advantages of Online Focus Groups
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- better participation rates - cost effectiveness - broad geographic scope - accessibility
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Scanner based research
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a system for gathering information from respondents by continuously monitoring the advertising, promotion, and pricing - entails the aggregation of scanner data from retailers, analysis, and identification of sales trends by industry, company, product line, and individual brand
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BehaviorScan
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a scanner based research program that tracks the purchases of 3,000 households through store scanners in each research markets
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InfoScan
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a scanner-based sales-tracking service for the consumer packaged-goods industry
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neuromarketing
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a field of marketing that studies the body's responses to marketing stimuli
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competitive intellegence (CI)
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an intellignence system that helps managers assess their competition and vendors in order to become more effective and efficient competitors
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online panel providers
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created for specific industries and may have a few thousand panel members - when people join online panels they go through extensive surveying to ensure they meet the criteria
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online focus groups
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research firm builds a database of respondents via a screening questionaire on its Web Site.
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A Web community is
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a carefully selected group of customers who agree to participate in an ongoing dialogue with a particular corporation
