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Details Title: Marketing Research Description: Marketing Research Test 1 Total Flash Cards: 33 Created: 02/11/2007 13:56:34	To study from this set of flash cards, or to create your own your own study flash cards, register HERE. If you are already a registered user, CLICK HERE.
Cards Term The Marketing Concept Definition Satisfying consumer wants and needs through the exchange process and delievery of value. New concepts: customer focused, goal oriented, systems based Term The Marketing Mix Definition 1. Product, 2. Placement, 3. Pricing, 4. Promotion - 5. People, 6. Processes, 7. Physical Evidence. (for information) 8. Personalization Term Define Marketing Research Definition The planning, collection, and analysis of data relevant to market decision making and communication of the results of this analysis to management Term The importance of Marketing Research to Management Definition Descriptive function, Diagnostic function, Predictive function - The unrelenting drive for quality and customer satisfaction. Term Applied versus Basic Research Definition Basic research hopes to provide further confirmation to an existing theory. Applied research pertains to the task at hand and is mostly done b/c it is most cost effective and provides the most value. Term Reasons to do research Definition Understand consumers and the market place, Find out what happened when something goes wrong, Make better marketing decisions Term Reasons to not do research Definition Poor timing, a lack of resources, research would not be useful, managers cannot agree on a needed decision, when the costs of conducting research outweigh the benefits Term Benefits of research formula Definition Market window / f(market size, ROI) Term The general rule for spending on research is... Definition 1-3% Term Long term sales do not = Definition f(advertising) Term Long term market share = Definition f(advertising) Term 8 Steps of the research process Definition 1. Identify problem, 2. Creating research design, 3. Choosing research method, 4. Selecting the sampling procedure, 5. Collecting Data, 6. Analyzing the data, 7. Writing/Presenting report, 8. Follow-up Term Most important step in the research process Definition Identifying the research problem (Step 1) and framing it. Term 3 Research methods Definition Observational, Survey, Experimental Term Describe Observation research method Definition no interaction Term Describe Experiment research method Definition causuality, most interaction Term Describe Survey research method Definition Some interaction, includes focus groups. Ask questions to obtain facts, opinions, and attitudes. Term Probability Samples Definition Every element in the population has a known; non-zero chance of being selected. Term Non-Probability Samples Definition Little or no attempt is made to ensure representativeness of the sample. Term 4 Ethical Obligations of Marketing Research Definition 1. Use research only for scientific investigation, 2. Be objective, 3. Avoid misrepresenting the results, 4. Protect confidentiality of respondents. Term Primary Data Definition Survey, observation, or experiment data collected to solve a particular problem Term Secondary Data Definition Info. that has been gathered and only might be relevant to problem at hand. Term Advantages of Secondary Data Definition May help claify problem, Provide solution to problem, provide questions/alternatives, alert researcher to potential problem, may provide background info. Term Limitations of Secondary Data Definition Lack of availability, lack of relevance, Inaccuracy Term Qualitative charactoristics Definition Probing, small sample size, exploratory, can't duplicate results Term Quantitative characteristics Definition Limited probling, large sample size, must be able to duplicate results Term 4 steps in conducting a focus group Definition 1. Recruit participants, 2. Select Moderator, create guide, 3. Conduct group, 4. Prepare report Term Advantages of Focus Groups Definition Quick info, Stimulate new ideas, inexpensive, very flexible, spontaneous Term Depth Interview characteristics Definition like focus groups, reduce recruiting difficulties, takes more time, 5-8 ppl required, requires more skill Term Depth Interview Advantage vs. Disadv. Definition Advantage: If scheduling people is a problem. Disadvantage: more time, higher skill required. Term Topics that Projective Techniques are needed for... Definition Sex, politics, religion. Sometimes guilt Term Various Projective Techniques... Definition Word association, Sentence completion, cartoon tests, photo sorts, consumer drawlings Term Define Content Analysis Definition A technique used to study written material, by breaking it into meaningful units using applied rules