Marketing Management Exam 2
What is the 1st step of the marketing research process?
Defining the problem and research objectives
What type of marketing research is this an example of? Professor Scrofani sent out surveys and examined internal data to get feedback from the consumer.
Descriptive research
What is the 2nd step that occurs with marketing information system?
Develop the needed information using a.) Internal data b.) marketing intelligence c.) Marketing Research
What is the 2nd step of the marketing research process?
Develop the research plan for collecting info
What type of research objective is this an example of? Benchmarking (evaluating) competitors' products
Example Competitive Marketing Intelligence analyzing competitors.
What type of research objective is this an example of? Companies monitor social media buzz/trends:
Example Competitive Marketing Intelligence monitoring public data
What type of research objective is this an example of? Jaguar set up a social media command to manage engagement with its super bowl ads featuring famous movie villains.
Example Competitive Marketing Intelligence monitoring public data
What type of research objective is this an example of? Online research
Example Competitive Marketing Intelligence monitoring public data
What type of research objective is this an example of? PepsiCo, Mastercard, Kraft, and Dell will set up sophisticated digital command centers that focus on consumer/marketplace activity.
Example Competitive Marketing Intelligence monitoring public data
What type of research objective is this an example of? Observing consumers firsthand
Example of Competitive Marketing Intelligence collecting information about consumers
What type of research objective is this an example of? Companies sending out teams of trained observers to meet customers in person and talk about the company products
Example of Competitive Marketing Intelligence collecting information about consumers.
What type of research objective is this an example of? Amazon routinely purchases merchandise from competing sites to analyze and compare to their products.
Example of Competitive marketing intelligence analyzing competitors.
What type of research objective is this an example of? U.S Security and exchange commissions database provides financial information on public competitors.
Example of Competitive marketing intelligence as it is public information and information about competitors.
What type of research objective is this an example of? A company discovered orange cleats were the # 1 search for Nike so they made orange cleats to steal customers.
Example of Competitive marketing intelligence collecting public information
What is this an example of? Pinterest discovered customers want more than what Facebook/Twitter offers of people sharing their different opinions and pictures.
Example of Customer Insight
What type of research approach is this an example of? Coors insight teams frequent bars and other locations as a real-life lab, talking to patrons anonymously to gain insight.
Example of Ethnographic Research
What type of Primary data is this an example of? Lego observed children playing, interviewed parents, shopped with families, and studied work behaviors inside toy stores.
Example of Ethnographic Research because their observing the consumer in their natural environment.
What type of research approach is this an example of? Trader Joes evaluates possible new store locations by checking traffic patterns, neighborhood conditions, and locations of competing companies.
Example of Observational research
What is this an example of? Targeting segments such as Hispanics, African Americans, and Asian Americans.
Example of Total market strategy
What type of research objective is this an example of? Accounting department provides detailed records of companies sales, cost, and cash flow.
Example of companies using Internal data by taking internal information
What type of research objective is this an example of? Customer service department keeps records of customer satisfaction or service problems.
Example of companies using Internal data by taking internal information
What type of research objective is this an example of? Dr. Scrofani uses Company's google analytics to determine what customers are coming in and where they are coming from
Example of companies using Internal data by taking internal information
What type of research objective is this an example of? Marketing department supplies information on customer characteristics, in-store and online sales transactions, and web/social media site visits.
Example of companies using Internal data by taking internal information
What type of research objective is this an example of? Operations reports on companies production, shipments, and inventories.
Example of companies using Internal data by taking internal information
What type of research objective is this an example of? Salesforce reports on resellers' reaction and competitor's activities.
Example of companies using Internal data by taking internal information
What type of research objective is this an example of? USAA uses information collected directly from surveys, transaction data, and browsing behavior to create an extremely loyal customer database.
Example of companies using Internal data by taking internal information
What is this an example of? Big Companies like PepsiCo use ____________ to gather insights from grocery store registers, surveys, and monitoring social media behaviors.
Example of companies using customer insight teams to manage marketing information
What is this an example of? Walmart's retail link system gives key suppliers access to information like customers buying patterns.
Example of marketing information helping external partners like suppliers.
What type of research objective is this an example of? Would a 10% percent decrease in tuition at a private college result in an enrollment increase sufficient to offset the reduced tuition
Example of the research objective: Marketing Research as you are performing own research.
What type of marketing research is this an example of? Professor Scrofani made observations while working at Tidewater.
Exploratory research
What type of contact method is this an example of? researchers hear consumers ideas/opinions and observe consumers behaviors
Focus group interviewing
What type of contact method is this an example of? Researchers observe consumer facial expressions, body movement, group interplay, and conversational flows.
Focus group interviewing because they are observing consumers behavior.
What is the 3rd step of the marketing research process?
Implementing the research plan collecting/analyzing data
How should the research plan be presented?
In a writing proposal
What is the 4th step of the marketing research process?
Interpreting and reporting findings
What is 3/4 characteristic of internal data?
It's important to keep data updated as it is constantly changing
What type of research approach is this an example of? McDonald uses experiments to test the effects on sales of two different prices it might charge.
Market research as its performing its own research. More specifically experimental research
What type of research does companies need customer/market insight for specific marketing situations and decisions?
Marketing research
What type of research objective is this an example of? The decision where the WISP company spent $5000 on advertisements at the movie theater
Marketing research
What type of research objective is this an example of? Yahoo wants to know customers would react to a new breakfast menu item
Marketing research because they would be performing their own research.
What is this an example of? Pepsico's focus tested women's response to baked lays. The research helped shape an ad campaign and new single-serve packaging.
Neuromarketing Because they made the chip sweeter and lower calories to appear more desirable to women their target audience.
What type of contact method is this an example of? researchers collect primary data through internet, mobile surveys, etc.
Online marketing research
Primary or secondary? surveys, observations, experiments
Primary data
Primary vs. Secondary Is involved with research approaches, contact methods, sampling plan and research instruments
Primary data
Primary vs. Secondary Research approaches for gathering data include observation, surveys, and expierements.
Primary data
Primary vs. Secondary When companies are conducting their own research"
Primary data
Primary vs. Secondary uses ethnographic research
Primary data
What is 4/4 characteristic of internal data?
Requires highly sophisticated equipment/technology to manage and distinguish information.
What is the hardest step in the marketing research process?
STEP 1: Defining the problem and Research objectives
Primary vs. Secondary Nielsen sells shopper insights data from a consumer pannel
Secondary because your buying secondary data from outside suppliers.
Primary vs. Secondary Can usually be obtained more quickly and at lower cost
Secondary data
Primary vs. Secondary Companies usually start by gathering this data:
Secondary data
Primary vs. Secondary It can have problems such as not being able to obtain all the data they need due to it not being relevant or current.
Secondary data
Primary vs. Secondary When companies are using broad information:
Secondary data
Primary vs. Secondary When companies use internet search engines
Secondary data because their not using their own research but
Primary vs. Secondary When companies use commercial online databases
Secondary data because this allows researchers to conduct their own research THROUGH secondary sources.
What is 1/4 characteristic of internal data?
They are accessed more quickly and cheaply than other information sources.
What type of research objective is this an example of? Lego used__________ by creating a global insight team responsible for finding new innovative ways to connect with customers.
example of Marketing Research doing their own research.
Consumer buyer behavior
the buying behavior of final consumers - individuals and households that buy goods and services for personal consumption
What is this an example of? Crystal pepsi
was a failed experiment but is making a comeback because our society has a culture of retro comebacks. Marketers are trying to use this retro to trigger emotional response and have people buy it.
What is the process that occurs with marketing information system?
1.) Assess user information needs 2.) Develop the needed information using a.) Internal data b.) marketing intelligence c.) Marketing Research 3.) Analyze marketing information: make the information available to users in the right form at the right time.
What is 1/2 characteristics of Competitive marketing intelligence?
1.) Can help marketers gain insight into how consumers talk about/engage with companies' brands.
What are the characteristics of Competitive marketing intelligence?
1.) Can help marketers gain insight into how consumers talk about/engage with companies' brands. 2.) The goal is to improve strategic decision making by A.) Understanding consumer environment B.) Assessing/tracking competitors actions C.) Providing early warnings of opportunities/threats
What are the 4 steps of the marketing research process?
1.) Defining the problem and research objectives 2.) develop the research plan for collecting info 3.) implementing the research plan collecting/analyzing data 4.) interpreting and reporting findings
What are the three types of marketing research?
1.) Exploratory research 2.) Descriptive research 3.) Causal research
What are the types of research objectives?
1.) Internal data 2.) Competitive Marketing Intelligence 3.) Marketing Research
What are characteristics of Internal data?
1.) They are accessed more quickly and cheaply than other information sources. 2.) Because it is collected for other purposes, it may be incomplete or in the wrong form for making marketing decisions. 3.) It's important to keep data updated as it is constantly changing 4.) Requires highly sophisticated equipment/technology to manage and distinguish information.
What does marketing research give insight to?
1.) customer motivations 2.) purchase behaviors 3.) customer satisfaction 4.) Market share/potential 5.) effectiveness of a.) pricing b.) product c.) distribution d.) promotion activities
What should the research plan address?
1.) management problems 2.) research objectives 3.) information to be obtained 4.) how the results help management decision making 5.) estimated research cost
What is 2/2 characteristics of Competitive marketing intelligence?
2.) The goal is to improve strategic decision making by A.) Understanding consumer environment B.) Assessing/tracking competitors actions C.) Providing early warnings of opportunities/threats
What is the 3rd step that occurs with marketing information system?
Analyze marketing information: - make the information available to users in the right form at the right time.
What is the first step that occurs with marketing information system?
Assess user information needs
What is 2/4 characteristic of internal data?
Because it is collected for other purposes, it may be incomplete or in the wrong form for making marketing decisions.
What is this an example of? a buyer looks on Facebook platform at a shoe and then you search the internet the same shoe reappears.
Behavior targeting
What is this an example of? you place an apple ipad in your amazon.com shopping cart but decide not to buy it. Then Later in the day you see more ads of that specific product
Behavior targeting
What type of marketing research is this an example of? Professor Scrofani used trial and error through customer feedback as a way to get more in-depth info on the problems.
Causal research
Which of the types of research raises ethical issues?
Competitive marketing intelligence because some techniques of finding information about competitors can be unethical.
What is this an example of? The tendency to over value data that supports a pre-existing belief because "it worked for one, so it must work for another."
Confirmation bias
What is the buying behavior of final consumers - individuals and households that buy goods and services for personal consumption?
Consumer buyer behavior
