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10 Cards in this Set
- Front
- Back
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What is marketing research? |
The process of defining a marketing problem/opportunity, collecting/analyzing info, recommending actions to improve organization's marketing activities |
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What are the 3 different types of marketing research? |
Exploratory: preliminary, clarify scope of problem, assumes more research will follow, asking questions
Descriptive: already has sense of problem; seeks conclusive data to answer questions and determine following course of action; designed to describe the basic characteristics of a population or to profile certain marketing situations
Casual: identifies cause/effect relationships amongst variables; done last; attempts to establish that one event will generate another. |
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Scientific method definition |
process of systematically collecting, organizing, analyzing, data in an objective & unbiased manner |
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Marketing research must meet 2 basic principles of the scientific method: ____ & ____ |
Reliability: can replicate results in identical conditions
Validity: research measures what was intended to be measured |
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Exploratory research has 3 techniques: ___ & ___ & ___ |
Secondary data (internal & external)
Focus groups
Depth interviews |
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What are 3 basic research methods? |
Survey - you assume 1) you're asking the right questions 2) people understand the questions 3) people know the answers 4) researchers understand the answers 5) people answer truthfully
Experiment - obtaining data under tightly controlled conditions by manipulating variables to test cause and effect -
Observation - watching how people behave |
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Sampling as a method of gathering information.. 2 types.. and definition |
Probability sampling: precise rules; everyone has same chance of being selected; accurately describes who population
Nonprobability sampling: arbitrary judgments to select sample; biased; used with caution when budgets/time is limited
*Sampling = the process of gathering data from subsets of a total population |
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What is a marketing information system?
What are 2 of its key elements? |
information technology network that stores and processes organization's data for more effective marketing decisions
1) Data warehouse (where data is stored)
2) Sensitivity analysis (what if questions determine how hypothetical change can affect sales) |
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7 factors that influence sales |
product price promotion distribution competition consumers advertising
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What is the difference between data mining and traditional marketing research? |
Data mining: extracting hidden information from large databases
Traditional marketing research: developing hypothesis, collecting data, trying to verify the truth |
