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Marketing Research 2
Lecture 2- Exam 2
37
Marketing
Undergraduate 3
05/19/2010

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Term

Marketing Information System

(MIS)

Definition

- determine what information is needed


- use hardware and software to gather, sort, analyze, store, and distribute information


- resulting information must be relevant, timely, complete and accurate


- available to marketing decision makers

Term
The Marketing Information System
Definition

1. Internal Company Data

 

2. Marketing Intelligence

 

3. Marketing Research

 

4. Acquired Databases

Term
Scopes of Information Sources
Definition

- internal company data

- intranets

- marketing intelligence systems


Term

Define:

Internal Company Data

Definition
- information from within the company to produce reports on the results of sales and marketing activities
Term

Define:

Marketing Intelligence Systems

Definition
- method by which marketers get information about everyday happenings in the marketing environment
Term
What do Futurists do?
Definition

- Specialize in predicting the future

 

**based on trends... right now!**

Term
Market Research
Definition

- collecting, analyzing, and interpreting data about customers, competitors, and the business environment to improve marketing effectiveness


1. syndicated research (AC Nielson)

2. custom research (developed for a specific reason)

Term
Types of Market Research Tests:
Definition

1. Copy Tests - Advertisements

*how well the ad was received

 

2. Concept Tests - New Products

*how well is the product idea received

 

3. Satisfaction studies - Customer Service

 

4. Market Share Analyses

 

5. Segmentation Strategies - who should we target?


Term
What are acquired, external databases used for?
Definition

- to collect a variety of information from different sources

* non-competing businesses

* government databases

 

-- Misuse of database can be problematic and has led to do-not-call lists and antispam laws

Term

Define:

Data Mining

Definition

- includes sophisticated analysis techniques to take advantage of the massive amount of transaction information now available

 

* analysts sift through data to identify unique patterns of behavior among different customer groups for use in behavioral targeting

Term
Data Mining Applications
Definition

1. Customer Acquisition

2. Customer retention and loyalty

3. Customer Abandonment

4. Market Basket Analysis

- what do you put in your online shopping cart

Term
Steps in the Research Process
Definition

1. Define the Problem

2. Determine Research Design

3. Choose Data Collection Method

4. Design the Sample

5. Collect the Data

6. Analyze and Interpret Data

7. Prepare the Research Report

Term
Step 1: Define the Research Problem
Definition

- specify the research objectives

- identify the consumer population of interest

- determine what information is needed to make the decision

Term
Step 2: Determine the Design
Definition

- can the information be acquired from existing data?

 

- if so, secondary data sources will be utilized

 

- if not, primary research will be necessary

*firm must collect info

Term
Secondary Research
Definition

- collected for some other purpose

- can be obtained quicker and less costly

- collected for some other problem other than the purpose at hand

 

* can be outdated - or businesses try to force fit it to their particular need

Term

Define:

Primary Data

Definition
- information collected directly from respondents to specifically address the question at hand
Term
Exploratory Research
Definition

- generally provides qualitative data

 

- may take several forms:

* consumer interviews

* focus groups

* case studies

*ethnography

* projective techniques

Term
Descriptive Research
Definition

- Large samples

- quantitative data

Term
Cross-Sectional Descriptive Research
Definition

- Taken all at one time - and only once

- no opinions change

Term
Longitudinal Descriptive Research
Definition

- taken at different points in time

- opinions may change

Term
Casual Research
Definition

- cause and effect relationships

- independent variables

- dependent variables

Term
Experimental Design
Definition
- allows researchers to control possible explanations for the effect
Term

Data Collection Methods:

Survey Communication

Definition

- mail questionnaires

- telephone

- face to face

- online questionnaires

Term

Data Collection Methods:

Observation

Definition

- shows behavior, but does not explain why the behaviors took place

- personal- counting traffic in lawn chairs

- mechanical - the black strips across the street

Term
Data Quality: The three key considerations
Definition

- validity (are you asking the right questions)

- reliability (can you trust the results)

- representativeness (representative of the population)

Term

Survey Design Considerations:

Sample Selection

Definition

- identify population

- determine sample size

- select sampling frame

*non-probability vs. probablity

Term

Survey Design Considerations:

Representative Sample

Definition

- question wording

- response format

- questionnaire layout

- pretesting

Term

Define:

Probability Sampling

Definition

- each member of the population has some known chance of being included

- sample is representative of population, and inferences about population are justified

Term
Types of Probability Sampling
Definition

- Simple Random Sampling

*each subject has an equal chance of being selected

 

- Stratified Sampling

*divide population into homogeneous subgroups

Term

Define:

Nonprobability Sample

Definition

- personal judgement used in selecting respondents

- some members of population have no chance of being included so sample is not representative of population

Term
Types of Nonprobability Sampling
Definition

- Convenience Sampling (mall intercept)

- Quota Sampling

Term
Challenges Collecting Data from Foreign Countries
Definition

- differences in sophistication of research operations

- infrastructure/transportation challenges

- lack of phones and/or low literacy rates

- local customs and cultural differences

- language translation difficulties

Term
In order for Data to be meaningful is must be....
Definition

-coded

-analyzed

-interpreted

Term

Define:

Tabulation

Definition
- arranging data in a table or other summary form to get a broad picture of overall responses
Term

Define:

Cross-Tabulation

Definition
- examining the data by subgroups to see how results vary between categories
Term
What do Research Reports typically contain?
Definition

- executive summary

- description of research methods

- discussion of results

- limitations

- conclusions/recommendations

Term

Define:

Marketing Research Ethics

Definition

- taking an ethical and above-board approach to conducting marketing research that does no harm to the participant in the process of conducting the research

 

** researchers must provide full disclosure of confidentiality and anonymity options

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