Term
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Definition
Satisfying consumer wants and needs through the exchange process and delievery of value.
New concepts: customer focused, goal oriented, systems based |
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Term
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Definition
1. Product, 2. Placement, 3. Pricing, 4. Promotion -
5. People, 6. Processes, 7. Physical Evidence.
(for information)
8. Personalization |
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| Define Marketing Research |
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Definition
| The planning, collection, and analysis of data relevant to market decision making and communication of the results of this analysis to management |
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| The importance of Marketing Research to Management |
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Definition
| Descriptive function, Diagnostic function, Predictive function - The unrelenting drive for quality and customer satisfaction. |
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| Applied versus Basic Research |
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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. |
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Definition
| Understand consumers and the market place, Find out what happened when something goes wrong, Make better marketing decisions |
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| Reasons to not do research |
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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 |
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| Benefits of research formula |
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Definition
| Market window / f(market size, ROI) |
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Term
| The general rule for spending on research is... |
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Definition
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Definition
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Definition
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Term
| 8 Steps of the research process |
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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 |
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| Most important step in the research process |
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Definition
| Identifying the research problem (Step 1) and framing it. |
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Definition
| Observational, Survey, Experimental |
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| Describe Observation research method |
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Definition
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| Describe Experiment research method |
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Definition
| causuality, most interaction |
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| Describe Survey research method |
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Definition
| Some interaction, includes focus groups. Ask questions to obtain facts, opinions, and attitudes. |
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Definition
| Every element in the population has a known; non-zero chance of being selected. |
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Definition
| Little or no attempt is made to ensure representativeness of the sample. |
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| 4 Ethical Obligations of Marketing Research |
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Definition
| 1. Use research only for scientific investigation, 2. Be objective, 3. Avoid misrepresenting the results, 4. Protect confidentiality of respondents. |
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Term
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Definition
| Survey, observation, or experiment data collected to solve a particular problem |
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Definition
| Info. that has been gathered and only might be relevant to problem at hand. |
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| Advantages of Secondary Data |
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Definition
| May help claify problem, Provide solution to problem, provide questions/alternatives, alert researcher to potential problem, may provide background info. |
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| Limitations of Secondary Data |
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Definition
| Lack of availability, lack of relevance, Inaccuracy |
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Term
| Qualitative charactoristics |
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Definition
| Probing, small sample size, exploratory, can't duplicate results |
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| Quantitative characteristics |
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Definition
| Limited probling, large sample size, must be able to duplicate results |
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Term
| 4 steps in conducting a focus group |
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Definition
| 1. Recruit participants, 2. Select Moderator, create guide, 3. Conduct group, 4. Prepare report |
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| Advantages of Focus Groups |
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Definition
| Quick info, Stimulate new ideas, inexpensive, very flexible, spontaneous |
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Term
| Depth Interview characteristics |
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Definition
| like focus groups, reduce recruiting difficulties, takes more time, 5-8 ppl required, requires more skill |
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Term
| Depth Interview Advantage vs. Disadv. |
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Definition
| Advantage: If scheduling people is a problem. Disadvantage: more time, higher skill required. |
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Term
| Topics that Projective Techniques are needed for... |
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Definition
| Sex, politics, religion. Sometimes guilt |
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Term
| Various Projective Techniques... |
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Definition
| Word association, Sentence completion, cartoon tests, photo sorts, consumer drawlings |
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Term
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Definition
| A technique used to study written material, by breaking it into meaningful units using applied rules |
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