MKT 319 Final Exam – Flashcards
Unlock all answers in this set
Unlock answersquestion
Marketing Research
answer
Systematic and objective identification, collection, analysis, dissemination, and use of information that is undertaken to improve decision-making related to identifying and solving problems in marketing
question
Problem identification research
answer
Research undertaken to help identify problems that are not necessarily apparent or that are likely to arise in the future
question
Marketing research process:
answer
Step 1: Defining the problem - define the management decision problem and the marketing research problem Step 2: Develop an approach to the problem - formulate analytical framework and models, research questions and hypotheses Step 3: Formulate a research design - Framework or blueprint for conducting research. Conducting preliminary or exploratory research, define the variables, design appropriate scales to measure Step 4: Doing fieldwork or collecting data Step 5: Preparing and analyzing data - Editing, coding and transcribing of collected data Step 6: Preparing and presenting the report - addresses specific research questions, describes approach, design, data collection and analysis
question
Competitive intelligence
answer
Enhancing the marketplace competitiveness through a greater understanding of the firm's competitors and the competitive environment Enables senior managers in companies of all sizes to make informed decisions
question
Internal supplier (client side)
answer
Marketing research departments located within a firm (GM, Ford)
question
External supplier (supplier side)
answer
Outside marketing research companies hired to conduct a complete marketing research project or component of it
question
Full service suppliers
answer
Companies that offer the full range of marketing research activities
question
Syndicated Services
answer
Companies that collect and sell common pools of data designed to serve the information needs of multiple clients (Nielsen)
question
Customized Services
answer
Companies that tailor research procedures to meet the needs of each client
question
Internet Services
answer
Companies that specialize in conducting research on the internet
question
Limited Service Supplies
answer
Companies that specialize in one or a few steps of the marketing research process
question
Field Services
answer
Companies whose primary service offering is their expertise in collecting data for research projects
question
Focus Group and Qualitative Services
answer
Services related to facilities, recruitment, and other services for focus groups and other forms of qualitative research, such as one-on-one depth interviews
question
Technical and Analytical Services
answer
Services related to design issues and computer analysis of quantitative data, such as those obtained in large surveys
question
Problem Definition
answer
Broad statement of the general problem and identification of the specific components of the marketing research problem
question
Secondary Data
answer
Data collected for some purpose other than the problem at hand (Census, internet)
question
Primary Data
answer
Data originated by the researcher to address the research problem
question
Qualitative Research
answer
An unstructured, exploratory research methodology based on small samples intended to provide insight and understanding of the problem setting (Focus groups, interviews)
question
Management Decision Problem
answer
Problem confronting the decision maker. Asks what the decision maker must do
question
Marketing Research Problem
answer
Asks what information is needed and how it can best be obtained
question
Research Questions
answer
Refined statements of the specific components of the problem. Designed to ask the specific information required to address each problem component
question
Research Design
answer
Framework or blueprint for conducting the marketing research project that specifies the procedures necessary to obtain the information needed to structure and/or solve the marketing research problem
question
Exploratory Research
answer
Primary objective is the provision of insights into and comprehension of the problem situation confronting the researcher • Realize a problem exists, but does not yet understand why • Conducted on a small and non representative sample, findings are tentative
question
Conclusive Research
answer
Designed to assist the decision maker in determining, evaluating, and selecting the best course of action for a given situation • Assumes researcher has an accurate understanding of the problem at hand • More formal and structured
question
Descriptive Research
answer
Type of conclusive research. Major objective is the description of something - usually market characteristics or functions • Develop a profile of a target goal • Estimate the frequency of product use as a basis for sales forecasts • Determine the relationship between product use and perception of product characteristics • Determine the degree to which marketing variables are associated
question
Cross-Sectional Design
answer
One-time collection of information from any given sample of population elements, snapshot of marketplace at specific time
question
Cohort Analysis
answer
Measuring a cohort at two or more points in time. Panel: same people (longitudinal) Series of cross sectional surveys Create a cohort table to disentangle three possible effects. Time period: e.g., 10 year blocks; horizontal Age groups: e.g. 10 year age groups; vertical Cohort groups: following an age group down their diagonal
question
Longitudinal Design
answer
Fixed sample of population elements that is measured repeatedly. Sample remains the same over time, portrays both the situation and the changes that are taking place
question
Panel
answer
Consists of a sample of respondents, generally households that have agreed to provide information at specified intervals over an extended period
question
Marketing Research Proposal
answer
Contains the essence of the project and serves as a contract between the researcher and management
question
Qualitative Research vs Quantitative Research
answer
Qualitative research provides insight and understanding, explores the problem with few preconceived notions about the outcome of that exploration. Appropriate when facing a situation of uncertainty Quantitative data seeks to quantify data. Findings can be used as conclusive and recommend course of action When new marketing research problem is approached, quantitative must follow qualitative
question
Focus Groups
answer
An interview conducted by a trained moderator among a small group of respondents in an unstructured and natural manner
question
Depth interviews
answer
An unstructured, direct personal interview in which a single respondent is probed by a highly skilled interviewer to uncover underlying motivations, beliefs, attitudes and feeling on a topic.
question
Laddering
answer
...
question
Projective Technique
answer
Unstructured and indirect form of questioning that encourages respondents to project their underlying motivations, beliefs, attitudes, or feelings regarding the issues of concern
question
Completion Technique
answer
Requires respondent to complete an incomplete stimulus situation
question
Story Completion
answer
Respondents are provided with part of a story and required to give the conclusion in their own words
question
Sentence Completion
answer
Respondents are presented with a number of incomplete sentences and asked to complete them
question
Cartoon Tests
answer
Cartoon characters are shown in a specific situation related to the problem. The respondents are asked to indicate the dialogue that one cartoon character might make in response to the comments of another character
question
Association Technique
answer
Respondent is presented with a stimulus and asked to respond with the first thing that comes to mind
question
Measurement
answer
means assigning numbers or other symbols to characteristics of objects according to certain pre specified rules.
question
Scaling
answer
involves creating a continuum upon which measured objects are located.
question
Scale Characteristics
answer
Description Order Distance Origin
question
Description
answer
By description we mean the unique labels or descriptors that are used to designate each value of the scale. All scales possess description.
question
Order
answer
By order we mean the relative sizes or positions of the descriptors. Order is denoted by descriptors such as greater than, less than, and equal to.
question
Distance
answer
The characteristic of distance means that absolute differences between the scale descriptors are known and may be expressed in units.
question
Origin
answer
The origin characteristic means that the scale has a unique or fixed beginning or true zero point.
question
Primary Scales of Measurement
answer
1. Nominal 2.Ordinal 3.Distance 4.Ratio
question
Nominal
answer
The numbers serve only as labels or tags for identifying and classifying objects. When used for identification, there is a strict one-to-one correspondence between the numbers and the objects
question
Ordinal
answer
A ranking scale in which numbers are assigned to objects to indicate the relative extent to which the objects possess some characteristic. Can determine whether an object has more or less of a characteristic than some other object, but not how much more or less
question
Interval
answer
Numerically equal distances on the scale represent equal values in the characteristic being measured. It permits comparison of the differences between objects.
question
Ratio
answer
Possesses all the properties of the nominal, ordinal, and interval scales.It has an absolute zero point. It is meaningful to compute ratios of scale values. Only proportionate transformations of the form y = bx, where b is a positive constant, are allowed. All statistical techniques can be applied to ratio data. Allows researcher to identify or classify objects, and compare intervals or differences. The highest level of measurement.
question
Comparative Scales
answer
1.) Paired comparison 2.) Rank Order 3.) Constant Sum
question
Paired Comparison
answer
A respondent is presented with two objects and asked to select one according to some criterion. The data obtained are ordinal in nature.
question
Rank Order
answer
Respondents are presented with several objects simultaneously and asked to order or rank them according to some criterion. Possible that the respondent may dislike the brand ranked 1 in an absolute sense.
question
Constant Sum
answer
Respondents allocate a constant sum of units, such as 100 points, to attributes of a product to reflect their importance. If an attribute is unimportant, the respondent assigns it zero points. It can be unit like $, points, chits, stickers, or chips. Among a set of stimulus objects with respect to some criterion.
question
Non Comparative Scales
answer
...
question
Continuous rating scale
answer
Respondents rate the objects by placing a mark at the appropriate position on a line that runs from one extreme of the criterion variable to the other. The form of the continuous scale may vary considerably.
question
Likert Scale
answer
Respondents rate the objects by placing a mark at the appropriate position on a line that runs from one extreme of the criterion variable to the other. The form of the continuous scale may vary considerably.
question
Semantic differential
answer
is a seven-point rating scale with end points associated with bipolar labels that have semantic meaning.
question
Non Comparative itemized rating scale decisions
answer
...
question
Number of Scale categories
answer
While there is no single, optimal number, traditional guidelines suggest that there should be between five and nine categories.
question
Balanced vs Unbalanced
answer
In general, the scale should be balanced to obtain objective data. A scale with an equal number of favorable and unfavorable categories.
question
Odd vs Even # of catergories
answer
If a neutral or indifferent scale response is possible for at least some of the respondents, an odd number of categories should be used.Mid point usually represents neutral point.
question
Forced vs unforced
answer
A rating scale that forces the respondents to express an opinion because a "no opinion" option is NOT provided.
question
Verbal Descriptions
answer
An argument can be made for labeling all or many scale categories. The category descriptions should be located as close to the response categories as possible.
question
Validity
answer
The extent to which differences in observed scale scores reflect true differences among objects on the characteristic being measured, rather than systematic or random errors.
question
Reliability
answer
The extent to which a scale produces consistent results if repeated measurements are made on the characteristic.
question
Sampling techniques
answer
...
question
Element
answer
is the object about which or from which the information is desired (the respondent)
question
Population
answer
The aggregate of all elements sharing some common set of characteristics, that comprise the universe for the purpose of tje marketing research problem.
question
Census
answer
A complete enumeration of the elements of a population or study objects.
question
Sample
answer
A subgroup of the elements of the population selected for participation in the study.
question
Target Population
answer
The target population is the collection of elements or objects that possess the information sought by the researcher and about which inferences are to be made. The target population should be defined in terms of elements, sampling units, extent, and time.
question
Sampling Unit
answer
is an element, or a unit containing the element, that is available for selection at some stage of the sampling process.
question
Sampling Frame
answer
A representation of the elements of the target population. It consists of a list or set of directions for identifying the target population.
question
Non- Probability Sampling
answer
Sampling techniques that do not use chance selection procedures, but that instead rely on the researcher's personal judgment and/or convenience
question
Convenience
answer
attempts to obtain a sample of convenient elements. Often, respondents are selected because they happen to be in the right place at the right time.
question
Judgmental
answer
is a form of convenience sampling in which the population elements are selected based on the judgment of the researcher.
question
Quota
answer
may be viewed as two-stage restricted judgmental sampling. The first stage consists of developing control categories, or quotas, of population elements. In the second stage, sample elements are selected based on convenience or judgment
question
Snowball
answer
an initial group of respondents is selected, usually at random.
question
Probability Sampling
answer
A sampling procedure in which each element of the population has a fixed probabilistic chance of being selected for the sample. A
question
Simple Random Sampling
answer
Each element in the population has a known and equal probability of selection. Each possible sample of a given size (n) has a known and equal probability of being the sample actually selected. This implies that every element is selected independently of every other element.
question
Systematic Sampling
answer
The sample is chosen by selecting a random starting point and then picking every ith element in succession from the sampling frame. The sampling interval, i, is determined by dividing the population size N by the sample size n and rounding to the nearest integer. When the ordering of the elements is related to the characteristic of interest, systematic sampling increases the representativeness of the sample.
question
Stratified Sampling
answer
A two-step process in which the population is partitioned into subpopulations, or strata. The strata should be mutually exclusive and collectively exhaustive in that every population element should be assigned to one and only one stratum and no population elements should be omitted. Next, elements are selected from each stratum by a random procedure, usually SRS. A major objective of stratified sampling is to increase precision without increasing cost.
question
Cluster Sampling
answer
The target population is first divided into mutually exclusive and collectively exhaustive subpopulations, or clusters. Then a random sample of clusters is selected, based on a probability sampling technique such as SRS. For each selected cluster, either all the elements are included in the sample (one-stage) or a sample of elements is drawn probabilistically (two-stage)
question
Cross Tabulations
answer
A statistical technique that describes two or more variables simultaneously and results in tables that reflect the joint distribution of two or more variables that have a limited number of categories or distinct values.
question
Frequency of Distribution
answer
A mathematical distribution with the objective of obtaining a count of the number of responses associated with different values of one variable and to express these counts in % terms
question
Measures of variability
answer
Statistics that indicate the distribution dispersion. Range, variance, standard deviation.
question
Chi-Square Statistic
answer
A skewed distribution whose shape depends solely on the number of degrees of freedom. As the number of degrees of freedom increases, the chi-square distribution becomes more symmetrical.
