MKGT3310 CH 8 (Exam 3)

A typical film costs over $____ million to produce and market
concise, attention, risk
Good factors for a brand name include being concise, able to grab ______, capturing the essence of the brand, and having no legal restrictions to reduce _____ to the firm and consumers.
marketing research
the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions
likely to buy, honest, purchase behavior
Challenges to good marketing research: Are consumers ____ ___ ____ a new product? Will people give _____ answers? Will their actual ______ _____ match their stated interest?
_______ have to make reasonable estimates about what consumers want and will buy.
a conscious choice between two or more alternatives
decision making
act of consciously choosing between alternatives
define the problem
step 1 of 5-step marketing research approach: _____ ___ ______
research plan
step 2 of 5-step marketing research approach: develop the _____ _____
relevant information
step 3 of 5-step marketing research approach: collect _____ _____
step 4 of the 5-step marketing research approach: develop ______
take marketing actions
step 5 of 5-step marketing research approach: ____ ______ _____
research objectives
_____ ______ are specific, measurable goals the decision maker seeks to achieve in conducting the marketing research.
explanatory research
Type of marketing research: ______ research provides ideas about a relatively vague problem.
Type of marketing research: ______ research involves trying to find the frequency at which something occurs.
Type of marketing research: ______ research tries to determine to what extent the change in one factor changes another one (most sophisticated)
objectives, actions
Step 1: Defining the problem, includes setting the research ______, and identifying possible marketing _____.
constraints, data, how to collect
Step 2: Developing the research plan includes specifying the ______, identifying ____ needed for marketing, and determining ____ ___ _____ data.
secondary, primary
Step 3: Collecting relevant information includes obtaining ______ and ______ data.
analyze, present
Step 4: Developing findings includes having to _____ the data and ______ the findings.
recommendations, implement, results
Step 5: taking marketing actions includes having to make action _______, ______ actions, and evaluate ______.
measures of success
criteria or standards used in evaluating proposed solutions to the problem, which lead to different marketing actions
marketing actions
One test of whether marketing research should be done is if different outcomes will lead to different ______ ____.
restrictions placed on potential solutions to a problem
concepts, methods
Two key elements in deciding how to collect data are ______ and ______.
ideas about products or services
new product concept
picture or verbal description of a product a firm might offer for sale
approaches that can be used to collect data to solve all or part of the problem
Information on useful data collection ______ is available in tradebooks, textbooks, and handbooks that relate to marketing and marketing research.
American Marketing Association
Periodicals, such as the Journal of Marketing and the Journal of Marketing Research, both published by the _______ _______ _______, summarize methods and techniques available for addressing marketing problems.
sampling, statistical
Special methods, vital to marketing, are ______ and ______ inference.
selecting a group of distributors, consumers, or prospects and asking them questions, treating their answers as typical of all those in whom they are interested
statistical inference
generalizing the results in a sample to much larger groups of distributors, consumers, and prospects to help decide on marketing actions
primary data
facts and figures newly collected for the project
secondary data
facts and figures already collected before the project on hand
facts and figures related to the problem
internal secondary data
sources of data kept in records of company that offer most easily accessible marketing information
inputs, outcomes
internal sources of secondary data can be divided into two related parts: marketing _____ and marketing _____.
marketing input data
refers to the effort expended to make sales
marketing outcome data
relates to the results of the marketing efforts
external secondary data
published data from outside of the organization
Economic Census
The Census Bureau publishes the ______ ______ which is conducted every 5 years.
Census 2010
The ______ _____ is the most recent count of the US population published by the U.S. Census Bureau, which is conducted every 10 years.
time savings, low cost, detail
Advantages of secondary data: ______ ______, ____ _____, and greater amount of ______.
out of date, specific enough
Disadvantages of secondary data: data may be _____ ___ _____ and data may not be _______ ______ for the current project
observing, asking
Two principal ways to collect primary data: ______ and ______
observational data
facts and figures obtained by watching, either mechanically or in person, how people actually behave
mechanical, personal, neuromarketing
Observational data can be collected by ______, ______, or _________ methods.
mystery shopper
person paid by a company to check on quality and pricing of their products and the integrity of and customer service provided by their employees
watching, recording
_______ consumers or _______ them are two observational techniques.
_______ research is when trained observers seek to discover subtle behavioral and emotional reactions as consumers encounter products in their “natural use environment,” such as their home and car
______ observation is both useful and flexible, but also costly an unreliable when different observers report different conclusions when watching the same event
Observation can reveal what people do but not _____.
________ methods use brain scanning mechanisms to record people’s brain responses to various marketing stimuli.
2008 breakthrough book by Martin Lindstrom that summarizes his controversial findings using neuromarketing
generation, evaluation
The primary data gathering technique, asking people and recording their responses, can be divided into idea _______ methods and idea ______ methods.
questionnaire data
facts and figures obtained by asking people about their attitudes, awareness, intentions and behaviors
individual interview
a single researcher asking questions to one respondent
free-flow interviews
researchers ask long, lengthy kinds of questions to probe for underlying ideas and feelings
focus groups
informal sessions of 6 to 10 past, present, or prospective customers in which a discussion leader, or moderator asks their opinions about the firm’s and its competitors’ products, how they use the products, and what other special needs need to be accomodated
tastes, trends
“fuzzy front end” methods attempt early identification of elusive consumer _____ or _____.
Trend Hunter
firm that seeks to track and anticipate the “evolution of cool”
flexible, costly
personal interview surveys allow the interviewer to be ______ when asking questions but are ______
minimal, quicker
The costs of online surveys is relatively _______ and the turnaround time is _____ than the traditional methods. However, some consumers ignore them.
questions that allow consumers to express their opinions, ideas, or behaviors in their own words
(or fixed-alternative) questions that require respondents to select one or two predetermined options
questions that allow only a “yes” or “no” answer
semantic differential
a _______ ______ scale is a 5 point scale in which the opposite ends have one or two word adjectives that have opposite meanings
a ______ scale is one in which a respondent indicates to the extent he/she agrees or disagrees with a statement
Research questions must be worded precisely so that all consumers _______ the same question similarly.
mall intercept interviews
personal interviews of consumers visiting shopping centers, that provide flexibility while showing visual cues but may not be representative of customers targeted, giving a biased result
media, panels, technology, mining
Other Sources of primary data include social _____, ______ and experiments, information ______, and data ______.
sample of consumers or stores from which researchers take a series of measurements
obtaining data by manipulating factors under tightly controlled conditions to test cause and effect
information technology
operating computer networks that can store and process data
factors that influence the buying decisions of a household or organization which can affect sales
_______ analysis involves asking “what-if” questions to answer hypothetical questions involving changes in product
data mining
the extraction of hidden predictive information from large databases to find statistical links between consumer purchasing patterns and marketing actions
__ billion is spent annually on social media marketing
flexible, specific, time consuming
Primary data has advantages of being more _____ and _____ to the current problem but it also more costly and _____ _______.
responsible for actions- delivering the clear and understandable findings in clear pictures and, if possible, in a single page
decision, process
Evaluating the results includes evaluating the ______ itself and evaluating the decision _____ used.
sales forecast
the total sales of a product that a firm expects to sell during a specified time period under specified environment conditions and its own marketing efforts
judgements, surveys, statistical
The three forecasting techniques often used include ______ of the decision maker, ______ of knowledgeable groups, and ______ analysis.
Probably ___% of all sales forecasts are simply the judgement of the person who must act on the results of the forecast- the individual decision maker.
direct forecast
involves estimating the value to be forecast without any intervening steps
type of forecast that involves starting with the last known value of the item being forecast, listing the factors that could affect the forecast, assessing whether they have a positive or negative impact, and making the final forecast
A survey of buyers’ _______ forecast involves asking prospective customers if they are likely to buy the product during some future time period.
A _______ survey forecast involves asking the firm’s salespeople to estimate sales during a coming period.
The best known method of forecasting is known as ______ extrapolation, which involves extending a pattern observed in past data to the future. When then pattern is a straight line, it is linear trend extrapolation.
Carmex’s “engagement” strategy: use a _____
Carmex’s “likes” strategy: use a ______
poll and contest
The combined strategy: use a _________

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