Marketing Midterm ch 1-4

Market Research

A process used to define the size, location, and or makeup of the marketing for a product or service

Which of the following statements reflect a potential disadvantage of using a simulated test market?

A simulated test market is not as accurate as full-scale test marketing.

An example of basic research is:

A winery needs to understand more about exporting wine.

Plato fundamental approach to market research

Attitudes predict future behavior See if people "buy into" your idea Model the ideal Am I objective enough in measuring attitudes? Have I asked enough people?

________ should only be used when the researcher knows a fair amount about the problem.

Causal research

field service firms

Companies that specialize in data collection

Which of the following does NOT represent an advantage of test marketing?

Competition can run a simultaneous field test

Which type of panel asks panel members the same questions on each panel measurement?

Continuous panels

An outside research firm guarantees distribution of a product that pre-specified types and numbers of distributors. This is an example of what type of test market?

Controlled test markets

The types of descriptive research study that measure a population at only one point in time is:

Cross-sectional studies.

Once a firm decides to conduct marketing research, the second step is to:

Define the problem.

The most important step in the marketing research process is:

Defining the problem.

A marketing researcher would use what type of research to find out how many customers there are, what brands they buy and in what quantities, which advertisements they recall, what are their attitudes toward the company, and who is the competition?

Descriptive research

Which type of panel varies questions from one panel measurement to the next? These are sometimes referred to as omnibus panels (omnibus meaning "including or covering many things or classes").

Discontinuous panels

The Market Research Proposal

Elements include: Statement of the problem The research objectives The research method Statement of deliverables Costs Timetable

The Marketing Research Process

Establish the need for marketing research. Define the problem. Establish research objectives. Determine research design. Identify information types and sources. Determine methods of accessing data. Design data collection forms. Determine the sample plan and size. Collect data. Analyze data. Prepare and present the final research report.

The marketing research process begins when a managerial problem or opportunity exists that demands action, but there is not enough information to know how to respond to the problem. This sets into motion a series of tasks that ultimately leads to:

Establishing research objectives.

The marketing research process contains multiple steps. The first step of the process is:

Establishing the need for marketing research.

The difference between basic research and applied research is that applied research is conducted to:

Expand our knowledge to solve a SPECIFIC problem.

What is the type of study in which one or more independent variables are manipulated to see how one or more dependent variables are affected, while also controlling the effects of additional extraneous variables?

Experimental research study

The less we know about a market or subject, the more likely it is that a researcher should use:

Exploratory research.

Research design types include:

Exploratory, descriptive, and causal.

The term "research design" refers to the research approach used to meet the research objectives. Three widely recognized research designs are:

Exploratory, descriptive, and causal.

A variable that exerts influence on the dependent variable but is not an independent variable is a(n):

Extraneous variable.

Four Current Technologies Will Disrupt Market Research Industry

Fiber Optics Wireless Broadband Digital Media Convergence Pattern Recognition Software

A research objective should specify:

From whom information is to be gathered.

Marketing research can also be used to do which of the following?

Generate, refine, and evaluate a potential marketing action

Why Is Research Design Important?

Good research design is the "first rule of good research". Knowledge of the needed research design allows advance planning so that the project may be conducted in less time and typically at a cost savings due to efficiencies gained in preplanning.

Level of advertising expenditure, type of advertising appeal (humor, prestige), display location, placement of website ads, method of compensating salespersons, price, and type of product are examples of:

Independent variables.

Components of an MIS

Internal Reports System Marketing Intelligence System Marketing Decision Support System (DSS) Marketing Research System

The two basic types of studies categorized as descriptive research include:

Longitudinal studies and cross-sectional studies.

Tracking studies are studies that involve the monitoring of the same variables of interest, such as market share or unit sales, over time. These types of studies are an example of:

Longitudinal studies.

________ designs are used to test hypotheses or measure the reaction of one variable to a change in another variable.

More formal

Aristotle fundamental approach to market research

Past behavior predicts future behavior Collect lots of observations Model the empirical How do I sort through lots of observations and separate the noise from the knowledge?

Exploratory research is unstructured research, which means it does not have a:

Predetermined set of procedures.

The success of a marketing research project depends on properly pinpointing a problem to formulate the:

Problem statement.

________ need to be very clear, since they will determine the methods used and the content of the measurement instrument.

Research objectives

The information that tells the researcher exactly what needs to be gathered and analyzed to allow managers to make decisions related to a problem is contained in the:

Research objectives.

Identifying information sources and types is an important part of the research process because

Research provides information to help solve problems.

What term describes how each sample element is to be drawn from the total population?

Sample plan

To what does the number of elements of the population that are used to make up the sample refer?

Sample size

________ is the process of searching for and interpreting existing information relevant to the research topic.

Secondary data analysis

Research design should be:

Selected after thoroughly considering the problem and research objectives.

Generate, Refine and Evaluate Potential Marketing Actions includes

Selecting target markets Product research Pricing research Promotion research Distribution research

What types of studies do descriptive research studies include?

Studies that need answers to who, what, when, where, and how questions

Several firms flood a test market with sales promotions when they know a competitor is test-marketing a product. This is an example of:

Test market sabotage.

Which of the following concerns internal validity?

The extent to which the change in the dependent variable was actually due to the independent variable

What is the definition of marketing research?

The process of designing, gathering, analyzing, and reporting information that may be used to solve a specific marketing problem

Selecting Test-Market Cities

Three main criteria: Representativeness Degree of isolation Ability to control distribution and promotion

Objectives of Research Design

To gain background information and to develop hypotheses To measure the state of a variable of interest To test hypotheses that specify the relationships between two or more variables

According to the American Marketing Association, which of the following is the primary use of marketing research?

To identify and define marketing opportunities and problems. Secondary is to generate, refine, and evaluate potential marketing problems and to monitor marketing performance

According to the American Marketing Association (AMA), what is the function of marketing research?

To link the consumer to the marketer

The purpose of market research is best described by which of the following statements?

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

Monitor Marketing Performance

Tracking data collected at point-of-sale terminals as consumer packages goods are scanned in grocery stores, mass-merchandisers, and convenience stores. Tracking social media

Some market research studies are designed to find out what?

What consumers' problems are and to assess the suitability of different proposed methods of resolving those problems.

invitation to bid (ITB) or request for proposal (RFP) .

When a client first contacts a marketing research supplier to conduct research, the client will generally request a proposal prior to agreeing to work with the firm in a process called an ....

Pros of test marketing

allows for the most accurate method of forecasting future sales, and it allows firms the opportunity to pretest marketing-mix variables.

construct

an abstract idea or concept composed of a set of attitudes or behaviors that are thought to be related.

Research objectives

are specific and tell the researcher exactly what information must be collected to solve the problem by facilitating selection of an alternative. Specify from whom information is to be gathered Specify what information is needed Specify the unit of measurement used to gather information Word questions used to gather information using the respondents' frame of reference

Causal studies

attempt to uncover what factor or factors cause some event.

Since research situations typically have at least some similarities to a past situation, executives may use ________ to review available information about one or more former situations to gain understanding of a current research problem with similar characteristics.

case analysis

When conducting ________, "if-then" statements become a researcher's way of manipulating variables of interest.

causal research

Exploratory Research

collecting information in an unstructured and informal manner.

Brand-switching studies can be invaluable to brand managers because ________ that show changes in market shares between several brands can be misleading.

cross-sectional studies

Focus groups are one of the most widely used ________ methods to gain greater understanding of a current problem or to develop preliminary knowledge to guide in the design of descriptive or causal research.

exploratory research

Because one of the major reasons for conducting a test market is to achieve ________, the test-market city should be representative of the marketing territory in which the product will ultimately be distributed.

external validity

Key-informant technique:

gathering information from those thought to be knowledgeable on the issues relevant to the problem

Questions must be phrased properly to ________ and therefore can be used to solve the problem.

generate answers that satisfy the research objectives

Secondary information

information already collected

Primary information

information collected specifically for the problem at hand

Data analysis

involves entering data into computer files, inspecting data for errors, and running tabulations and various statistical tests.

A ________ is a structure consisting of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers.

marketing information system

The ________ goes on continuously and searches a broad range of information sources to bring pertinent information to decision makers.

marketing intelligence system

The ________ is the marketing information system component that provides studies conducted for specific situations facing the company.

marketing research system. It gathers information for a specific situation -- not gathered by the other MIS component subsystems. Marketing research projects are not continuous -- they have a beginning and an end.

The research design is a ________ that specifies the methods that will be used to collect and analyze the information needed for a research project.

master plan

Reporting

one of the most important phases of marketing research. Its importance cannot be overstated because it is the report, or its presentation, that properly communicates the results to the client.

Electronic test markets

panel of consumers has agreed to carry identification cards that each consumer presents when buying goods and services.

Test marketing

phrase commonly used to indicate an experiment, study, or test that is conducted in a field setting. Main uses of test markets: To test sales potential for a new product or service To test variations in the marketing mix for a product or service

action standard

predesignation of some quantity of a measured attribute or characteristic that must be achieved for a research objective for a predetermined action to take place.

Experience Surveys:

refers to gathering information from those knowledgeable on the issues relevant to the research problem

Descriptive research

research that describes the phenomena of interest.

marketing research proposal

serves as the basis of a contract as it documents what the marketing researcher proposes to deliver to the client for some consideration, typically a fee.

Problems

situations calling for managers to make choices among decision alternatives.

Hypotheses

statements that are taken as true for the purposes of argument or investigation.

A procedure for ensuring that ________ is experimental design.

the change in the dependent variable may be solely attributed to the change in the independent variable

Lead-user survey

used to acquire information from lead users of a new technology

Nonsampling errors

will occur in data collection, so researchers must know the sources of these errors and implement controls to minimize them. Researchers aim to minimize this possibility by undertaking a control referred to as validation.