Mkt Research Ch.1-5

Front 1

purpose of MR

Back 1

link the CONSUMER to the marketer by providing information that can be used in making marketing decisions

Front 2

basic vs. applied research

-define
-ex.
-what type is vast majority?

Back 2

basic-expands knowledge
ex./what are ppl's greatest fears?

applied-conducted to solve SPECIFIC problem, vast majority
ex./pepsi does specific study on can size

Front 3

3 roles of MIS

Back 3

DAD
1. determine decision maker's information needs
2. acquire needed info
3. distribute needed, timely, and accurate information to marketing decision maker

Front 4

4 components of MIS

define and ex

Back 4

1.internal reports aka acctng info systems-*financial statements, detail of rev and cost

2.MKT intelligence system- formal and informal methods, newspaper clippings... *LEXIS NEXIS

3.MKT decision support system (DSS)- used with analyzing tools. *linear regression, break-even analysis

4.MR system-specific problem at hand, finite. ex./which of the three People magazine covers should be used?

Front 5

types of limited service mkt research firms (5)

-define limited service supplier

-name/ ex./ why useful

Back 5

specialize in one or more marketing research activities


FASSS
1. field service firms-collecting data. ex./telephone surveys
-so expensive, difficult, and time consuming

2. data analysis service-provide technical assistance to interpret data. use more complex techniques.

3.market segment specialists-collect data for special market segments ex./gays

4.sample design and distribution-provide samples to firms that are conducting research studies. ex./Survey Sampling Inc. provides company A with low-incidence samples.

5.specialized research technique firms-expertly administer special technique. ex./Eye Tracking Inc. specialize in eye movement research.

Front 6

full service marketing research firms

-define
-different kinds (4)

Back 6

external supplier that conduct the entire MR project

SSCO
1.syndicated-collects info that is available to multiple subscribers (same data)
2. standardized-offers the same/standarized marketing research services but results in different in respect to company.
3.customized-variety of different research services tailored to client's specific need.
4.online research-specialize in online services.

Front 7

MR is $____ dollar industry.

__% of revenues come from United States, United Kingdom, and Netherlands.

Back 7

+$15Billion

75%

Front 8

11 steps in marketing research process

-name and explain

Back 8

N,P,O,D,S,M,F,S,C,A,R



1.establish NEED for MR
2.define PROBLEM (suppose-did-could happen)
3.establish research OBJECTIVES
4.determine research DESIGN (exploratory, descriptive, causal)
5.identify info types and SOURCES (primary or 2ndary)
6.determine data collection METHOD (we ask, automated, they answer, combo)
7.design data collection FORMS
8.determine SAMPLE SIZE
9.collect DATA
10.ANALYZE
11.prepare final research REPORT (written and oral)

Front 9

marketing research definition

AMA def: 4 key verbs...benefit who(2)
book def: 4 key verbs...used to do what(1)

Back 9

AMA: creating, communicating, and delivering value to customers, managing customer relationships...benefit organization and stakeholders.

book def: designing, gathering, analyzing, and reporting info...used to solve problem.

Front 10

web-based research vs. online survey research VS. online research

define each and ex.

Back 10

difference: both are subsets of online research, but not the same thing!

WEB-BASED=traditional research methods -or- online research methods, but conducted ON a web application. ex./"site hit counts"

ONLINE SURVEY RESEARCH: collection of data using computer networks. a SUBSET of online research. ex./customer satisfaction intranet

ONLINE RESEARCH: use of COMPUTER NETWORKS to assist in any part of the marketing process. (problem development, designing, info gathering, analyzing, and reporting.)

Front 11

Professional Researcher Certificate

1. who created it
2. accomplish 3 objectives
3. 3 major segments of certificate
4. 3 levels of experience
5. how does one get inducted

Back 11

1. MRA along with other companies
2. -reflect all aspects of MR
-recognized by experts/associations
-meet requirements of being (NOCA)certificate authentic
3. data collection, research suppliers ,end user
4. EPA: expert, practitioner, associate
5. examination

Front 12

2 ethical philosophies of MR

Back 12

1.DEONtology-rights of individual
ex./ not ethical= MRer hiding behind by aisle and observing shopper. BC person did not know/have opt-out option.

2.TELEology-in terms of benefits and costs to society. if net gains>individual's costs, then ethical.

Front 13

sugging

illegal or unethical?

Back 13

selling products under the disguise of 'conducting research'

-ILLEGAL

Front 14

frugging

illegal or unethical?

Back 14

fundraising under the disguise of 'conducting research'

-UNETHICAL

Front 15

3 areas within code of ethics

Back 15

1. prohibit sugging and frugging
2. Integrity: accurate data only! (no misrepresentation of data, and no omission of important data to skew results)
3. treat all people fair. EX./phony RFP's

Front 16

father of marketing research

Back 16

Charles Coolidge Parlin

1911:conducted the first organized market research

Front 17

deception ex.

Back 17

MR respondents are not told true identity of sponsor

ex./ marlboro saying they are lung cancer association to conduct MR

Front 18

types of internal marketing research departments (3)

-type
-pro/con

Back 18

1. formal MR dept. (big companies)
-: $$$
+:staff aware of firm's operations and industry, better insights to identify problems/opp.
+: can be divided into different divisions (consumer and industrial)

2. place single individual/small committee on MR
-: time
+:less expensive, still internal

3.assign no one person MR responsibility
-:not as coordinated
+: saves $ on staff

Front 19

MR not necessary when.. (4)

Back 19

1. info is readily available
2.timing wrong to conduct MR (ex./need to respond quickly to competition)
3. funds not available (funding research AND implementing finding's recommendations)
4.research costs>value/benefits

Front 20

marketing decision support system (MDSS) answer ____ questions.

-def.

Back 20

answers WHAT IF questions

def: coordinated collection of data, system tools, and techniques with supporting software and hardware. use this data to make marketing decisions.

Front 21

exploratory research

-def.
-ex./
- +/-

Back 21

DEFINITION: background information, general learning process

ii. Use when you have little idea of what to expect
iii. “dipping toe in water”

ex./going to library to look into plastic surgery

+: learn new things, helps clarify problems, FAST, CHEAP, GOOD 1ST STEP
-:broad, not specific

Front 22

descriptive research

def.
ex./

Back 22

i. Describing/Say something about a target mkt, about a population
1. Ex./ income levels or age ranges of heavy users of dr. dre beat headphones

Front 23

causal research

-def.
-what are x and y variables (independent/dependent)
-ex. of each
- +/-

Back 23

def: what factors CAUSE some event

X-independent-causes change (ex./advertising)
Y-dependent-being changed (ex./sales)

think IF X, THEN Y.

+: high reward if no extraneous variable, can more easily forecast, more relevant marketing with cause-effect relationship
-: very hard to conduct bc of extraneous variables and control groups

Front 24

online marketing research trends (4)

why are these trends happening?

Back 24

surveys, tracking, blogs, focus groups

-technology advancing SAVES $$ and SAVES TIME

Front 25

Concentration of industry

Back 25

concentrated around a few large firms, NOT 1000s of little ones

Front 26

experience surveys

-what kind of research?
-define
-ex
-differentiate between other types of MR

Back 26

gathering info from people thought to be knowledgeable on the issues relevant to the research problem

ex./ want to know more about difficulty with buying infant clothes-> survey parents with infants.

-different from descriptive bc no formal attempt that survey results are symbolic of defined group of subjects.

Front 27

focus groups

-define
-involves...
-ex.

Back 27

selecting a sample of the population in order to gain more insight to their feelings, reasons to buy a product, etc.

-aka spontaneous discussion to gain relevant information

ex./ cafeteria food company focus group to gain insight on perceived quality of food.

Front 28

indepth interviews

-type of research
-define
- +/-

-

Back 28

-qualitative exploratory research
-probing questions posed 1-on-1 to a subject
+: great insight on what respondent is thinking, why behave certain ways
-: flawed info

Front 29

projective techniques

-type of research
-define
-ex. of test

Back 29

-exploratory research
-seek to explore hidden consumer motives for buying goods by asking participants to project themselves into a situation and then respond to specific questions regarding the situation.

-sentence completion test, cartoon test

Front 30

descriptive research methods

-define
-ex
- 2 types

Back 30

-describes/answers 5 W's
-ex./ WHO are our customers? answer is maybe age, ethnicity..

-cross sectional (comparison study) and longitudinal (trends)

Front 31

cross sectional research

-type
-define
-ex

Back 31

-descriptive
-measures at one point in time/a comparison study
-ex./ competitor comparison study

Front 32

longitudinal research

-type
-define
-ex

Back 32

-descriptive
-repeatedly measures same thing over period of time/find trends
-ex./ measuring percentage of certain age groups of apple computers over last 50 years

Front 33

extraneous variables

-define
-ex.

Back 33

-noise to an experiment
-ex./economic factors, sales force efforts

Front 34

experimental designs

-define
- +/-

Back 34

-procedures that allow experimenter to control for the effects on a dependent variable by an extraneous variable.

-: can be timely, difficult to understand, very process sensitive

+: controls effects of extraneous variable

Front 35

internal validity

-define
-without this, is there value in experiment?

Back 35

concerned with the extent to which the change in the dependent variable (sales) was actually due to the independent (advertising)

-no value, bc otherwise just misleading results

Front 36

external validity

-define
-threats to external validity

Back 36

def: the extent that the relationship observed between ind. and dep. variables is generalizable to the 'real world'

threats: bad samples, too artificial

Front 37

lab experiment

define
-use when..
pro/con

Back 37

def: experiment in a controlled, artificial setting to control the many possible extraneous variables that may affect dep. variable.
-use when want high levels of internal validity.
+:cheaper, less time
-: not real

Front 38

field experiment

-define
-use when..
-pro/con

Back 38

def: experiment in which the ind. var. is manipulated and measurement of dep. var. are in natural setting
-should still have internal validity

+: natural setting=more likely to hold true in real world
-:hard to control extraneous var.

Front 39

test markets

-overall pro/con
-4 types

Back 39

+: accurate method of forecasting future sales
+: pretest marketing mix variables

-:not dependable results
-:timely
-:expensive
-:expose to competition

4 types: standard, controlled, electronic, simulated

Front 40

standard test market

-def
-pro/con

Back 40

-tested through normal distribution channels

pro: most like environment
con: competitors aware of product

Front 41

controlled test market

-def
-pro/con

Back 41

-conducted by outside firms and put in pre set-up distribution channels

pro: quick access to distribution system set-up to test product.
con: may not be externally valid bc not actual distribution channels.

Front 42

electronic test market

-def
-pro/con

Back 42

-panel of opt-in consumers with ID cards (in participating cities) to present with buying things.

pro: speed, less costly than standard and controlled,greater confidentiality

con: not a real market, consumers atypical, cities may be misrepresentative.

Front 43

simulated test market

-def
-pro/con

Back 43

-limited amount of data on consumer response to a new product is fed into a model containing certain assumptions regarding planned marketing programs, which generates product sales volume.

pro: fast, CHEAP!, confidential
con: dependent on assumptions made for program

Front 44

internal secondary data

-def.
-ex.
-major source
-uses (2)

Back 44

def: data that have been collected within the firm

ex./ sales records, purchase requisitions

-Major source= database marketing, internal databases consist of info gathered by a company typically during normal business transactions

-use for direct marketing and strengthen CRM(customer relationship management)

Front 45

external secondary data

-def
-3 types (def and ex.)

Back 45

def: data that has been collected outside of firm

3 types:
1.published=prepared for public distribution. (ex./library book)
2.syndicated services data=found by MR firms, and then businesses buy subscription. specialized, usually by industry. (ex./ACNielson TV ratings)
3.databases: ex./LexisNexis

ex./IBIS world,

Front 46

5 questions to ask when analyzing credibility of 2ndary MR

Back 46

PWWOC


1. PURPOSE of study?
2. WHO collected data?
3. WHAT info was collected?
4. OBTAINED how?
5. CONSISTENT with other info?

Front 47

NAICS

-stands for
-def.
-replaces what system? why?
-pros of switching
-why important to marketers

Back 47

-North American Industry Classification System
-6 digit coding system used to access information
-replaces SIC
+:more detail/specificity
+: greater detail to emerging industries like technology

-important to marketers bc allows you to find related industry 2ndary information

Front 48

EBI

-stands for/def.
-equation
-used to represent

Back 48

-Effective Buying Income
-disposable income=gross income-taxes
-reflects amount of income consumers can spend on goods, taxes are subtracted.

-used to represent market ability to buy

Front 49

BPI

-stands for/def.
-equation
-used to represent

Back 49

-Buying Power Index, takes the 3 factors that make up market (people, ability to buy, willingness to buy)
-weighs different factors

BPI=(pop'n/total pop'n)2 + (EBI/total EBI)5 + (retail sales/total retail sales)3

-quantitatively represents the BUYING POWER OF THE MARKET.

Front 50

standardized services

-def.
-how many clients
-pro/con

Back 50

a standardized market research PROCESS, but yields different results bc different firms.
-few clients

pro: experience of MR firm
pro: reduced cost

con:MR firm doesn't have client's industry expertise
con: can't customize services