Shared Flashcard Set

Details

MKTG 3010
Marketing Research, final exam. Topics covered: Data analysis including fundamentals, hypothesis testing, coding data, regression, conjoint analysis, chi-squared test, etc.
26
Marketing
Undergraduate 3
12/10/2009

Additional Marketing Flashcards

 


 

Cards

Term
When is a questionaire considered incomplete?
Definition
  • If any of the questions are not completely answered
  • If the pattern of the responses indicates that the respondent did not understand the survey
  • The responses show very little variance
  • If it is answered by someone who does not qualify for participation
Term
How can you treat unsatisfactory questionaire results?
Definition
  • Return to the field and gather the complete response from that individual
  • Assign missing values to unsatisfactory responses
  • Discard the entire questionaire with unsatisfactory responses
Term
What is "data cleaning"?
Definition
Data cleaning is done via consistency checks, which identify data that are out of range, logically inconsistent, or have extreme values.
Term
How are missing variables treated?
Definition
  • Substitute a neutral value (i.e. the mean response for that variable from all of the other respondents)
  • Substitute an imputed response (i.e. the respondents' pattern of response to other questions are used to calculate a suitable response to the missing question)
  • Casewise deletion - cases, or respondents with any missing responses are deleted completely
  • Pairwise deletion - instead of discarding all cases with any missing values, the researcher uses those cases with complete responses for each question when doing calculations
Term
What is a "dummy" variable?
Definition
A dummy variable is used in coding data from questionaires.  The dummy is what the code is based off of.  If, after coding, the response to a question reads "0", then the response to that question was the base, or dummy.
Term
When selecting a data analysis technique, what options should be used when considering only ONE variable (univariate)?
Definition
  • t-Test
  • two sample means t-Test
  • Chi-Squared test
  • ANOVA
Term
When selecting a data analysis technique, which tests should be used when analyzing more then one variable (multivariate)?
Definition
  • Regression analysis
  • Conjoint analysis
Term
What does a One-Way Chi-Square analysis test?
Definition
  • The researcher develops a theory about the data that was collected from N individuals
  • The one-way chi-squared analysis tests how close the data is to the theory
  • The theory can come from historical data
Term
What does it mean when the Chi-Square statistic (for One-Way Chi Square tests) is large?
Definition

Because the Chi-Square statistic is a function of the deviation of the observed counts from the theory, a larger Chi-Square statistic means that there is a big difference between the theory of the data and the actual data.

 

When the chi-square statistic is large (i.e. bigger than the critical value) then reject the null hypothesis.  The actual data is new and the theory must be changed.

Term
Explain the null hypothesis when running a One-Way Chi-Square test.
Definition
In a Chi-Square test, a null hypothesis is a statement of the status quo, one of no difference or no effect.  If the null hypothesis is not rejected then no changes will be made.
Term
When is the single-means t-Test appropriate?
Definition
  • Tests the mean of a single variable against a number
  • Use with interval and ratio questions
Term
When is the paired means t-Test appropriate to use?
Definition
  • Paired means t-Test tests the mean for the same group to two different variables or activities
  • Example: men's attitudes towards the Internet and men's attitudes towards technology in general
  • Use with interval and ratio questions
Term
When is the two sample means t-Test appropriate to use?
Definition
  • Use when comparing two different groups to the same variable or activity
  • Example: men's opinions of the rec center and women's opinions of the rec center
Term
When is ANOVA appropriate to use?
Definition
  • Use when testing 3 or more groups (as opposed to t-Testing which tests 1 to 2 groups) for the same variable or usage
  • Example: Internet usage by income level, age groups, household size, etc.
    • Is mean internet usage the same across different income classes?
    • Null hypothesis would be: The mean internet usage in each class is equal to that of every other class.
Term
What is a Two-Way Chi-Square test?
Definition
  • This tests for statistical independence
  • Testing to see if one variable has nothing to do with another variable
  • Null hypothesis: Variable 1 and Variable 2 are statistically independent
    • Rejecting the null hypothesis shows that the variables actually can affect one another.
Term
What does correlation analysis tell us?
Definition

It will show if there is a relationship between an interval and nominal variable by making a linear relationship between the two variables.


Should be completed prior to running a regression on variables.  Check for collinearity and make sure that the variables should even be included in the regression.

Term
What numbers are associated with correlation analysis?
Definition
  • Correlation numbers range from -1 to +1
  • At or near 0 there is NO relationship between the two variables
  • Low correlation is around +/- 0.50
  • High correlation close to +/- 1.00
Term
What is multi-collinearity?
Definition
  • When the independent variables (X's) are highly collinear together with each other
  • When this happens do not include all of the X's in the regression model
  • Choose which X to include
Term
What is conjoint analysis?
Definition
Attempt to determine the relative importance consumers attach to saliet attributes and the utilites they attach to the levels of attributes.
Term
What is the process to complete conjoint analysis?
Definition
Respondents are presented with products with various combinations of attribute levels and are asked to evaluate these products in terms of their desirability.
Term
What is a part-worth utility (in terms of conjoint analysis)?
Definition
  • The utility for a specific level of a particular attribute. 
  • It designates how much that part of the product or service is worth to the consumer.
  • Note that regression analysis usually is used for this step, the coefficients for each of the attributes that are given in the regression output ARE the part worths
Term
What are importance weights (in terms of conjoint analysis)?
Definition
  • Note that importance is relative to the other attributes, show which attributes are most/least important
  • Importance weights illustrate how much one attribute can contribute to the overall utility - i.e. an attribute cannot effect utility any more than it's maximum value of the importance weight
Term
What is the importance of conjoint analysis?
Definition
  • Extremely useful tool in predicting the performance of new products and to help re-designing old products
  • In addition, it can be used to determine price elasticity of demand and can help segment the market better
Term
How do you compute the relative importance of attributes RI(A1)?
Definition

A1(maximum part worth - minimum part worth)


Sum of all attributes max-min part worths

Term
Can the dollar value of attributes be computed using conjoint analysis (i.e. can you determine how much the customer would pay for a product with XYZ attributes)?
Definition

Yes, IF:

  • One of the attributes tested was price of the overall product
  • Determine the range of part worths (max part worth - min part worth)
  • That util range is the number of utils that the range in overall price is worth
  • Divide the range of overall price by the range of part worths to get $X/1 util
Term
What are some common mistakes of conjoint analysis?
Definition
  • Testing too many attributes
  • Attribute descriptions are vague or ambiguous
  • No pre-test of attributes
  • Completed too early, needs to be done way at the end of marketing research
  • Convenience sample
  • Incorrect attribute levels for competitors
Supporting users have an ad free experience!