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22 Cards in this Set
- Front
- Back
marketing research |
techniques and principles for systematically collecting, recording, analyzing, interpreting data that can aid decision makers involved in marketing |
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marketing research process |
defining the objectives, designing the research, data collection, analyzing data and developing insights, action plan and implementation |
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examples of objectives/research |
mcdonald's wants to know how to price its newest combo meal |
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data collection process |
begins only after the design process consists of primary and secondary data |
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secondary data |
information that have been collected prior to the start of the focal research project
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primary data |
data collected to address specific research needs |
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data vs information |
data: raw numbers that, on its own, have limited value to marketers information: results from organizing, analyzing, and interpreting data and putting them into a useful form |
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examples of secondary data |
-census data, information from trade associations, published reports
- internally: sales invoices, customer lists |
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disadvantages of secondary data |
not timely or specific enough to meet needs - the census is only taken once a decade |
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syndicated external secondary data |
available for purchase from commercial research firms |
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scanner data |
quantitative research from UPC labels at checkout counters |
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panel data |
information collected from a group of consumers over time - take records of what they purchased (secondary data) and ask them survey questions about it (primary data) |
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data mining |
uses a variety of statistical analysis tools to uncover previously unknown patterns in the data or relationships among variables |
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examples of qualitative research |
observation, in-depth interviews, focus groups, social media |
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examples of quantitative research |
experiments, surveys, scanners, panel |
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observation |
examining purchase and consumption behaviors through personal or video camera scrutiny |
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sentiment mining |
using social media sites, firms collect consumer comments about companies and their products - data is analyzed to distill customer attitudes towards and preferences for products |
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in-depth interview |
trained researchers ask questions, record answers, and pose additional clarifying questions |
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focus group interviews |
8-12 people discuss a particular topic |
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survey |
systematic means of collecting information from people using a questionnaire |
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experimental research |
a type of quantitative research that systematically manipulates one or more variables to determine which variables have a causal effect on others |
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biometric data |
includes one or more physical traits - facial characteristics - iris scans - fingerprints |