470 Exam

Front 1

Independent Samples T Test

Back 1

is for comparing the means of 2 independent groups in order to determine if there is statistical difference

Front 2

Back 2

Front 3

Paired samples Test

Back 3

Test is for comparing two means that are fromthe same individual, object, or related units (example: did training help a newemployee? Collect data before and after training)

Front 4

Rules to making categories:

Back 4

Segments must be:

· Measurable

· Accessible

· Substantial

· Differentiable

· Actionable

Front 5

Measurement data

Back 5

Nominal

Ordinal

Interval

Ratio

Front 6

Mean, Median, Mode

Back 6

Mean:regular average

Median:middle value

Mode: number that is repeated most often

Front 7

Panel Data

Back 7

also known as longitudinal or cross- sectionaltime-series data) is a data set in which the behavior of entities are observedacross time. These entities could be states, companies, individuals, countries,etc.Cross sectional = single point in timemeasures of a sample selected from a population

Front 8

Longitudinal

Back 8

= repeatedmeasures, over time, of a fixed sample (panels of people)

Front 9

4 steps to Marketing Research Plan:

Back 9

1. Formulate Problem

2. Determine Research Design

3. Analyze & Interpret Data

4. Prepare the Research Report

Front 10

Targeting, segmenting, positioning:

Back 10

1. To place a product occupies in consumers’ minds relative to competing products. Market segmentation:

classifying customerswith similar needs and wants within a specific market

-Often best to combine variables and identify smaller, better-defined targetgroups

-Demographic segmentation most frequently used segmentation variable

Front 11

Primary Data

Secondary Data:

Back 11

PrimaryData: : data collected first hand2. SecondaryData: data not collected by the researcher (ie. From articles, books,interviews already done, etc.)

Front 12

Descriptive Research

Back 12

concerned with determining the frequencywith which something occurs / describing a population with respect to importantvariables

Front 13

Exploratory Research-

Back 13

Best for Clarifying Concepts /Discover ideas and insights Casual-

used to establish cause and effect relationships between variables

Front 14

Pros of communication method of collection

Back 14

faster & easier

Front 15

Cons of communication method of collection

Back 15

not as accurate as observation method (but observation method takes longer)

Front 16

Rules for showing causality

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· Concomitant Variation (change is in effect aligns w/change in given factor :X and Y effect occur together)

· Temperalorodering

· Control over other possible causes

Front 17

Independent Variables in MKTG

Back 17

x

Front 18

Dependent variables in MKTG

Back 18

sales (end result studied)

“When experimenter manipulates X and looks at revenueand sales effect, X is independent and sales in dependent.”