Mktg 3309 - Chapters 1-4

Front 1

Define Market Research

Back 1

Process of designing, gathering, analyzing, and reporting info.

Used to solve specific marketing problem.

Front 2

2 Main Types of Research

Back 2

1. Secondary

2. Primary

Front 3

Secondary Research

Back 3

Research to find answers from info someone else has collected.

Front 4

Primary Research

Back 4

Research you conduct yourself to fill gaps after secondary research.

Front 5

When conduct market research?

Back 5

In startup phase

In the expansion phase

Front 6

4 key abilities of a researcher

Back 6

1. Articulate an info need

2. Locate relevant info sources

3. Assess the quality of those sources

4. Communicate results of research

Front 7

5 Steps of Search Strategy

Back 7

1. Identify main concepts

2. Find key words and alternative terms

3. Use boolean operators

4. Use wildcards *

5. Use double quotes " " and parenthesis ()

Front 8

Boolean logic

Back 8

and, or, not

Front 9

Field searching

Back 9

author, title, subjectP

Front 10

Proximity operators

Back 10

adj, near, same

Front 11

Wildcard

Back 11

Searches variation of root word

Example: econom*

Front 12

3 Tips for Advanced Google Search

Back 12

1. Document type restriction Ex. pdf, xls

2. Domain restriction Ex. .ca or .gc.ca

3. Putting emphasis on a term Ex. fuel efficient vs. efficient fuel

Front 13

5 Questions to ask when evaluating secondary sources

Back 13

1. Who collected it?

2. What was the purpose of the study?

3. When was the info collected?

4. How was the info collected?

5. How comparable is the info with other info?

Front 14

Pros and Cons of Secondary Research

Back 14

Pros

-Quick and inexpensive

-Can help define research problem

-Can be used with primary data

-May give full answer

Cons

-Measurement (units do not match/are incompatible, class definitions not usable)

-Outdated data

-Validity and readability are hard to assess

Front 15

2 Types of Secondary Sources

Back 15

1. Internal secondary data

2. External secondary data

Front 16

Examples of Internal Secondary Data

Back 16

-Sales data

-Customer database

-Previous survey results

-Mktg/business plan

-Competitive analyses

-Financial records

Front 17

Examples of External Secondary Data

Back 17

-Government Population Statistics

-Industry/trade analyses

-Syndicated studies

-Trade journals

-Annual reports

-Academic studies

Front 18

Government Secondary Data

Back 18

All levels of government collect data about residents and jurisdictions

Ex.

- Stats Canada

-BC Stats

-Vancouver City

-Metro Vancouver

Front 19

Definition of Syndicated Studies

Back 19

Subscription based research published on a regular basis.

Clients can pay for their own questions to be added to the survey

Front 20

Types of Secondary Research Providers

Back 20

1. Secondary research services

2. Clearing houses

3. Demographic and lifestyle

4. Consumer attitudes and public opinions

5. Consumption and purchasing data

6. Ad research

Front 21

The Funnel Approach

Back 21

Broad to specific

Front 22

Uses of Secondary Data

Back 22

Market Analysis

Competitive Intelligence

Consumer Trends

Segmentation

Front 23

Use of segmentation

Back 23

Companies use this to differentiate themselves from competition

Front 24

Definition of Geo-demographics

Back 24

Demographic and psychographic data within small geographic areas.

Ex. Pcensus, PRIZM C2, SimplyMap