Marketing Research Exam 1 (Kopp) – Flashcards
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An organizational function and a set of processes of creating, communicating, and delivering value to customers, and for managing customer relationships in ways that benefit the organization and its stakeholders
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Marketing
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Selecting a segment of the market as the company's target market and designing the proper mix of products/services, price, promotion, and distribution system to meet the wants and needs of those within the target market
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Marketing Strategy
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the action or activity of gathering information about consumers' needs and preferences.
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Market Research
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a business philosophy key to achieving organizational goals and to be more effective than competitors in creating, delivering, and communicating customer value to target market.
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Marketing Concept
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Systematic gathering an analysis of marketing-related data to produce information that can be used in decision making
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Marketing Research
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to reduce uncertainty
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Why do we study marketing research
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What are the four reasons we do marketing research
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1. Explore 2. Describe 3. Diagnose 4. Predict
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What qualifications does a company have to have to be a marketing research firm?
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NOTHING
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What is the "Gold 50"?
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Top 50 revenue generating marketing research firms in the U.S.
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How does the Gold 50 get their data?
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Invitations to marketing research firms with estimated annual revenue of more than 15 million are sent in January of each year requesting revenue information for prior calendar year.
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When is research not needed?
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Expensive, Research already conducted, Information, Decisions must be made now
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Information already collected
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Secondary Information
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Intended to help make a decision about a specific market problem.
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Applied research
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More theoretical in nature. Intended to advance general marketing knowledge, verify a proposed marketing theory or concept
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Basic research
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Select units from the population (representative)
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Sample plans
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Number of elements (statistical analysis)
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Sample size
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tabulations, statistical tests, text analysis, listen to consumer word choice.
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Data analysis
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State what the researcher must do .Figure out what to research
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research objectives
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experiments. Isolation of causes and effects
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Causal research
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1. Define a problem 2. Research the design 3. Sample the plan 4. Data Collection 5. Data analysis 6. Research report
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The research process
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Collected specifically for the problem at hand
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Primary information
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A plan that offers ideas for constructing research; Defining the problem
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Marketing research proposal
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less formal, no quantitative objectives, questionnaire, on sample plan we don't know much about the problem, background information.
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Exploratory Research
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The type of research that we use depends on what we know and what we want to find out
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Research Design
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individuals who are knowledgeable about the problem
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Experience surveys
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accurate description for something that is occurring (usually) market characteristics and/or marketing mix characteristics (most popular type of marketing research)
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Descriptive research
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Repeadetly mearure the same something overtime
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longitudinal studies
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a small group of people brought together to discuss, investigate, or decide on a particular matter, especially in the context of business or government
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panels
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The one that is changed by scientists
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independent variables
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Things we cant control that might affect the experiment
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extraneous variables
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Group that may affect a dependent variable but are not independent variables
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control group
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Observed change in the dependent variable if in fact due to the independent variable
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internal validity
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A natural setting (improves external valdidity)
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field experiments
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Responds to the change made to the independent variable
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dependent variable
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Something that happens where we can look at before and after but we have no control over the independent variable but still can measure the effect of the dependent variable
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quasi-experimental design
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Conducted in an artificial setting allows control of as many extraneous variables as possible (Improve internal validity)
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laboratory experiments
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understanding a phenomenon in terms of conditional statements (if, then)
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causality
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A procedure for devising an experimental setting such that a change in a dependent variable may be attributed solely to the change in an independent variable
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experimental design
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Results can apply outside the experimental setting
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external validity
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Firm that collects data through utilizing multiple sample companies
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Sample agregator
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group of individuals who have agreed to provide input on research studies and are asked to participate in research studies on a regular basis
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Research panels
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group of individuals who are part of a firms database and are asked to participate in research studies sporadically
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Research databases
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Underlies researchers efforts to make sense of the world and its various activities and events in a wide variety of disciplines.
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philosophy of science
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measure something only one point at a time
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cross sectional studies
