MKT 4301 - EX1 Review

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Scientific Method

How researchers use knowledge and evidence to reach objective conclusions about the real world

The team tasked with carefully reviewing proposed research designs to try to make sure that no harm can come to any research participant is called a

Institutional Review Board

Promotion Research

Investigates the effectiveness of advertising, premiums, coupons, sampling, discounts, public relations and other sales promotions

A network of interdependent institutions that perform the logistics necessary for consumption to occur is called a(n) ____.

Marketing channel

Temporal Sequence

Time order of events - Ads come before sales

Distribution Research

Studies aimed at selecting retail sites or warehouse locations that will physically distribute products

Which term refers to a research technique in which a sample is interviewed in some form or the behavior of respondents is observed and described in some way?

Survey

Distribution Research

The management of a superstore chain is attempting to decide where to locate its regional warehouses in order to minimize travel time from its warehouses to its local sites. Which type of research would be most effective?

Scientific method

Which approach focuses on using knowledge and evidence to reach objective conclusions about the real world?

Promotion

Which communication function of a firm is responsible for informing and persuading buyers?

The Target department store records the sales activities of its retail outlets in order to detect any changes in dollar sales. Which type of research is being used

performance-monitoring research

Concept testing

testing new product concepts with a group of target consumers to find out if the concepts have strong consumer appeal

Research Assistant

Caleb's job at a marketing research firm is to provide technical assistance with questionnaire design. Which title best describes Caleb's job?

Production Orientation

Internal focus Emphasize efficiency and low cost Process research is important Mass markets often required for success

Casual Research

Marketing research to test hypotheses about cause-and-effect relationships

All of the following are advantages of in-house research EXCEPT

More objectivity

Marketing Mix

Product, Price, Place, Promotion

unobtrusive methods

Research respondents do not have to be disturbed for data to be gathered

Which term reflects the degree to which one bases one's morality on moral standars?

idealism

All of the following are examples of an observational study EXCEPT

a consumer responding to a questionnaire about advertising

A political candidate asks staff workers to phone registered voters of another party to ask a leading and negative question about his opposing candidate. This is a form of

a push poll

Which type of research is being conducted when a researcher conducts an experiment to answer the question, "Will consumers purchase more of our brand if we change the package design?"

Causal research

Descriptive research

Characteristics of people, object, groups, orgs, or environments - seeks reasons for market outcomes -Focuses specifically on the beliefs and feelings of consumers have about competing products

Exploratory Research

Clarifies and defines the nature of a problem - Doesn't provide conclusive evidence -Discovers ideas that may be potential business opportunities - Assumes and expects subsequent research

Empirical testing

Comparing hypothetical proposition - A hypothesis vs reality using data

Basic Marketing Research

Conducted without a specific decision in mind and usually does not address the needs of an org

When drivers are unaware that a machine is recording how many cars pass a certain intersection that is being considered for a site for a new Wendy's franchise, this is an example of a(n):

unobtrusive method

Hypothesis

A formal statement, derived from theory, explaining some specific outcome

Theory

A formal, logical explanation of some event(s) including predictions of how things relate to one another

unobtrusive method

A method of research in which subjects do not know that they are being studied

Applied Marketing Research

Address a specific marketing decision for a specific firm or organization

Causal Research

Allows causal inferences - Cause-and-effect relationships

Non-spurious association

An absence of alternative plausible explanations

Marketing Research

Application of the scientific method in a searching for the truth about marketing phenomena

Product Research

Designed to evaluate and develop new products and to learn how to adapt existing product lines. - Concept Testing -Product Testing - Brand-name evaluation -Package testing

Asking consumers what they think about a possible brand name for a new product is an example of which type of research?

Product researc

The research process ends by _______________ from the data analysis.

Drawing conclusions

Evan has completed the fieldwork of collecting data, and now he is checking the data collection forms for omissions, legibility, and consistency in classification. What is Evan doing?

Editing the data

Companies, such as Kraft and Procter & Gamble, conduct research to clarify ambiguous situations or discover ideas that may be potential business opportunities. What type of marketing research is this?

Exploratory

Product testing

assessment of a product to see if it works, meets industry standards for safety, and is user-friendly

Percentage Change Formula

((Old # - New #)/ Old # ) x 100

Stakeholder Orientation

-external focus -emphasize a balance in satisfying all parties touched by organization -consumer research important -select segments served balanced with great concern for public persona

Stages in the Research Process

1 Problem 2 Defining research Objectives (variables) 3 Planning a research design 4 Planning a sample 5 Collecting data 6 Analyzing data 7 Formulating conclusions and preparing a report

Marketing Research Process

1. Idea and theory development 2. Problem definition 3. Information gathering 4. Analyzing data 5. Model Building 6. Communicating the findings and their implications

Marketing Strategy

1. Identifying and evaluating market opportunities 2. Analyzing market segments and selecting target markets 3. Planning and Implementing a marketing mix that will provide value to customers and meet organizational objectives 4. Analyzing firm performance

A researched working for __ would be considered a conflict of interest

2 competing firms

Concomitant Variation

2 events vary systematically - As ads increase, sales increase

2 Types of marketing research based on the specificity of purpose are

Basic and applied

What type of research is being conducted to answer the question: "Would this target market be interested in this type of new product?"

Exploratory Research

Marketing Orientation

External focus emphasize customer tastes and desires Customer research is essential Identifiable market segments matched with unique product

Pricing Research

Finding the amount of monetary sacrifice that best represents the value customers perceive in a product after considering various market constraints

The last stage of the marketing research process

Formulating conclusions and preparing a report

Asking target market members to compare the performance of a prototype of a possible new product to the performance of a competitor's product is an example of which type of research?

Product Testing

A marketing manager decides not to engage in research because a decision must be made before the results of the study can be analyzed. Which factor is the determinant of the need for marketing research in this case?

Time constraints

When is Marketing Research Needed?

Time constraints Availability of data Nature of decision Benefits vs cost Is the potential payoff worth the investment? Is the research expenditure the best use of the available funds? Will the information gained by research improve the quality of the decision enough to warrant the expenditure?

Product Orientation

internal focus; emphasize product superiority; product research is critical; narrow or even niche markets served


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