MKT 343 Exam 1 Class Notes

BLUF

Bottom Line Up Front!

Descriptive Research

gathering & presenting statements (Who are our customers?)

What is the role of marketing research?

the process of planning, collecting and analyzing data relevant to a marketing decision

Purpose of Sampling

to estimate parameters of the population based on a sample

Headings *HATS*

- Adequacy: documents should have an ample number to serve as "navigation signposts" - Hierarchy: use typeface, size, style, & alignment to show different levels of importance

Practicality Assessment

- Economy - Convenience - Interpretability

Typography *HATS*

- avoid using more than 2 types of font in 1 document - make sure all text can be read against background - left-justify body text, unless specified FONTS - use Times New for body - Use Arial/sans serif fonts (Franklin Gothic Book) for headings; avoid unusual like Papyrus - 11 or 12 pt font for body text - bold face headings or use a different font; bolding and underlining is overkill

3.) ORGANIZATION Communication Development Process

- decide a method of development for your communication and how to build it; structure -- organization is not all about writing > primary focus = LOGOS; have your communication make sense - HATS!!!

1.) PREPARATION Communication Development Process

- define purpose (inform/persuade/respond) - know audience (primary vs. secondary; characteristics like gender, expertise, special interest, relationship) - determine medium (audience preference, effectiveness of style, info dist. needs, record keeping needs, urgency/sensitivity needs > primary focus = PATHOS; tap into emotion & motivation of audience

2.) RESEARCH Communication Development Process

- determined by your purpose and audience - know the topic > primary focus = ETHOS; showing that you, as the communicator, can be considered credible (& trustworthy)

Composing An Email To Stranger

- meaningful subject line - open email with a greeting - standard spelling, punctuation, capitalization - clear, short paragraphs; straight to the point - friendly & cordial, but try not to joke around

Sources of Internal Secondary Data

1. Sales invoices 2. Accounts receivable reports 3, Quarterly sales reports 4. Online registration 5. Customer letters/ comments 6. Mail-order forms 7. Credit applications 8. Warranty cards 9. Past studies

Measurement Process

1. Select measureable phenomena 2. Develop a set of mapping rules 3. Apply mapping rule to each phenomena

Secondary Information

= interpretations of primary sources -- magazine/newspaper/journal articles, commentaries, biographies, some websites

Primary Information

= original materials -- research results (survey, experiment), first-hand observations, sales records, interview transcripts

Population vs. Sample vs. Statistic

> Population: entire collection of items that is focus of concern > Sample: subset of the population > Statistic: a measure on the items in a random sample

4.) WRITING Communication Development Process

> primary focus = all elements -- when writing something for the first time ... creation tends to be based on stream of consciousness ... output tends not to be in logical order ... initial work tends to be error-prone

Tips for better emailing

> reply - even if it's that you'll get to it later > answer all questions > do not forget attachments > watch tone - it cannot be "heard" > know cultural foundations of firm > don't be afraid to be informal - just not sloppy > use sentence case (only first word is capitalized) > do not use email to avoid personal contact > include a signature

Sources of error

Collector Situation Provider Measure

HATS Visual Organization (create documents that are easy to access, navigate, & remember)

H = Headings: promote easy navigation A = Access: promote the findings/understanding of info T = Typography: promotes ease of reading and clear levels of information hierarchy S = Space: promotes effective document design

1 Sample T Test APA Conclusion

Across the entire sample, the likelihood of recommending WFM (M=8.98, SD = 2.49) to other customers was significantly higher than the scale midpoint of 6.5 (t (623) = 24.81, p<.05). *(t(df) = t-value, p < .05)*

Persuasive Letter Format

I. Attention-Getter II. Introduction to Idea/Service/Product III. Details IV. Benefits to Reader V. Call for Action

Informational Letter Format

I. Main Idea/Good News II. Details III. Call for Action

Bad News Letter Format

I. Neutral Idea II. Background Info III. Bad News IV. Neutral Close

Email Etiquette --> 3. Attachments

Always include the filename, file format and program version within the email - include the attachment line after the signature - send files in rtf or pdf to ensure compatibility - watch file size (preface email note/cloud based sharing)

Crosstabs

Matrix/contingency table that displays the joint distribution of 2 or more variables - (responses of 1 question relative to the responses of another) - (distribution of 2 or more variables simultaneously) > NOMINAL & ORDINAL DATA ONLY > Requirements: Frequencies & Counts, 2 categorical variables

Null vs. Alternative (Research) Hypothesis

Null --> typically states "absence of a relationship" Alternative --> typically states "presence of a relationship"

True Score Theory

Observed Score = True Score +/- Random Error

Paired Sample T test APA & Notation

Respondents see the Internet as a source of information about movies (M= 3.23, SD= 0.94) as statistically more important than newspapers as a source of information about movies (M=2.82, SD= 1.01), t(446)= 6.08, p < 0.05, d= 0.32 t(df) = t-value, p <0.05, effect size effect size = mean difference/SD of different scores

Independent Sample T test APA & Notation

The average number of movies seen per month by males in the sample (M= 1.61, SD= 1.50) was statistically equal to the average number of movies seen per month by females in the sample (M= 1.54, SD= 1.01), t(446) = 0.59, p > 0.05. *t(df) = t-value, p (><) .05*

Cross Tab Notation & APA

The data suggest that 33% of males and 37% of females recalled seeing the ad. There is no significant relationship between gender and ability to recall the ad. X^2 (1, N = 400) = .733, p = .396 *X^2(df, N = __) = Chi Sq. Value, p = ._ _ _*

1 Sample T test

Used when the mean of one sample is compared to some known or estimated population mean > Data Requirements = 1. One sample 2. One ratio or interval variable Ho: Mean = Y Ha: Mean ≠ Y

Independent Sample T test

Used when the means of two independent groups are compared on a continuous dependent variable > Data Requirements 1. One independent variable with two groups 2. One interval or ratio variable H0: Mean of Group 1 = Mean of Group 2 H1: Mean of Group 1 ≠ Mean of Group 2

Why is email etiquette important?

We interact more and more through written word - emails, forums, letters, memos, reports, etc. Without immediate feedback from the reader, it is easy to be misunderstood

Statistical Test

a procedure for deciding whether an assertion (hypothesis) about a quantitative feature of a population is true/false

What is measurement?

assigning numbers or labels to objects/persons/events in accordance with rules to represent quantities/qualities of attributes - measures attributes...not the person/event itself - rules provide for consistency & direction

Ordinal Data

maintain labeling characteristics of nominal scales AND have the ability to order data - description & order, no distance/origin > ex. = best to worst rank (comparisons), 1st/2nd/3rd, SML > analyses approach = crosstabs, sum/freq. counts, %, mode, mean (sometimes)

Random Sampling Error

discrepancy between the sample statistics and the true population statistics

Diagnostic Research

explaining data (Why did sales fall last quarter?)

Business Letters

formal communications appropriate for a superior (boss, supervisor), an external party (client, customer), & multiple groups of readers

Interval Data

have characteristics of ordinal scales, plus equal intervals between points - description, order, distance but no origin > ex. = 1-10 scale, temperature, length, most MKT scales > analyses approach = SD, variance, kurtosis, desc. stat (mean, median, mode), sums/ranged freq. counts, correlation

Ratio Data

have the characteristics of interval, plus a meaningful zero point - description, order, distance, AND origin > ex = "Age = 50", "Income = $25,000", number of kids > analyses approach = basically everything....

Marketing Intelligence

information relevant to a company's markets that is gathered and analyzed for the purpose of accurate, confident decision making

5.) REVISION Communication Development Process

revise with a focus on coherence, accuracy and completeness > primary focus = all elements - simple words work the best - each word should have a purpose - connecting words "drive" the reader ("however") - use abbreviations sparingly & appropriately - contractions (e.g., can't) are informal - use variety of sentence lengths - sentences w/ more than 4 punctuations = hard to read - use lists for three or more points

Audience influences...

tone content medium

Purpose influences ...

tone content medium key focus

Medium influences ...

tone content

Space *HATS*

use plenty of space so you don't overwhelm readers -- Margins: ensure that margins frame elements on page (1 inch is good) -- Line Spacing: use same spacing throughout text -- Paragraph Spacing: learn to use options in Word -- Crowding: do not crowd words; trust your eyes when you view from a distance

Dependent & Independent Variables

Test Variables = Dependent Variables (What is changing? What is different?) --> aka "Number of Movies Seen" Grouping = Independent Variables (What is variable of interest changing based on?) --> aka "Gender"

Paired Sample T test

Test whether the means of 2 related groups differ significantly regarding some dependent variable of interest **The source (or sample) for both questions is the same!!!** > Data Requirements = 1. One ratio or interval dependent variable 2. One ratio or interval dependent variable Ho: Mean 1 - Mean 2 = 0 Ha: Mean 1 - Mean 2 ≠ 0

Predictive Research

"What if" analysis (How might modifying our advertising influence sales?) (What is the likelihood a song will be a top Itunes hit given its audio characteristics?)

Validity Assessment

*addresses issue of whether we measured what we intended to measure* - Face (non-statistical) - Content (non-statistical) - Criterion-Related (predictive or concurrent) - Construct (convergent or discriminant)

Reliability Assessment

*degree to which measures are free from random error & provide consistent data* - Stability (same instrument used twice) - Equivalent Forms (different instruments used once) - Internal Consistency (same instrument used once) --> split-half, Cronbach Alpha

Nominal Data

*least sophisticated* - partition data into "mutually exclusive and collectively exhaustive" categories - description, but not order/distance/origin > ex. = yes/no, nouns, gender, race/ethnicity (labels & categorizes) > analysis approach = crosstabs/percentages & sum/frequency counts

P-Value (or alpha)

- allows researchers to determine if the differences are due to sampling error or some real difference - "exact probability of obtaining the specific results if the null hypothesis is true"

3 Factors - Evaluating Measurement Tools

- Reliability - Validity - Practicality

Types of Qualitative Analyses

- Summaries (review, reduce, report) - Thematic Development (review, sort, classify) - Relationship Development (review & match) - Flow Charts (review, sequence, draw) - Content Coding (schema, code, count)

Business communications should...

1. *Be persuasive* 2. *Be user-centered* = focus on how info will be used (not just read) 3. *Be effective* = doc should be designed so users can quickly find information 4. *Be sound* = doc should have a purpose & focus; anticipate needs of audience; logical arguments/ info presented consistently; appropriate language & tone 5. *Be professional* = doc. should look professional on page; appropriate spacing, headings, typography

Advantages of Secondary Data

1. Acquisition Cost 2. Acquisition Time 3. Convenience PLUS - may help redefine the problem definition - may provide the solution to a problem - may aid in primary research design - may provide background info & foster creativity

3 Elements of Email Etiquette

1. Basics 2. Tone 3. Attachments

Major Styles of Business Letters

1. Block - all elements flush left 2. Modified Block - modified flush left 3. Modified Semi-Block - indented flush left

Sources of External Secondary Data

1. Data published in Periodicals 2. Data compiled by Outside Vendors 3. Data contained in Databases

Basic Components of Business Letters

1. Date 2. Sender's Address 3. Inside Address (Recipient's) 4. Salutation 5. Body 6. Closing 7. Enclosures 8. Typist's Initials

3 Types of Marketing Research

1. Descriptive 2. Diagnostic 3. Predictive

Aristotle's 3 Elements to Effective Communication

1. Ethos -- credibility 2. Pathos -- emotion/motivation 3. Logos -- logic/facts

Disadvantages of Secondary Data

1. Lack of availability 2. Lack of relevance 3. Inaccuracy 4. Insufficient Data

Significantly Different?

1. Mathematical Difference 2. Statistical Difference 3. Managerial Difference

4 Data Types

1. Nominal 2. Ordinal 3. Interval 4. Ratio

Communication Development Process

1. Preparation 2. Research 3. Organization 4. Writing 5. Revision

Sources of Information

1. Primary 2. Secondary

Determining Quality & Limitations

1. Purpose - why was data collected? 2. Timeliness - is info out of date? 3. Accuracy - appear accurate/complete? 4. Consistency - consistent with other sources? 5. Credibility - who collected/interpreted data? 6. Methodology - how was the data collected? 7. Bias - data interpreted accurately?

Steps in Hypothesis Testing

1. State null & alt. hypotheses 2. Choose appropriate test (what are the variables?) 3. Develop a decision rule (level of sig. aka, p-value) 4. Calculate value of test statistics (SPSS) 5. State conclusion

Data

Qualitative = not subject to quantification (words) Quantitative = subject to quantification (numbers) > Data is not the final word - the final word occurs when you translate data into information

Internal Secondary Example

Sales from a dept. store may be analyzed to obtain: • Sales by product line • Sales by major department (e.g., men's wear, housewares) • Sales by specific stores • Sales by geographical region • Sales by cash versus credit purchases • Sales in specific time periods • Sales by size of purchase

Email Etiquette--> 1. Basics

Think twice about if your email is appropriate for virtual correspondence - wait until email is complete before entering recipient - try to keep email brief (one screen length) - respond within the time span you would a phone call - check for spelling, grammar & punctuation - use professional, not decorative, font

Email Etiquette --> 2. Tone

Write in a positive tone - "When I complete the task" VS "If I complete the task" Avoid negative words/phrases - un/non/ex/ or -less Graphical symbols ONLY when appropriate - for recipients you have a friendly relationship with Use contractions to be informal

Access *HATS*

ability of readers to be able to find & understand important info easily > To ensure easy access: - bullets & dashes for non-sequential lists - numbers for sequential lists or steps - graphics (tables, graphs, process charts, photos)

Random Error

caused by any factors that randomly affect measurement of the variable across the sample

Systematic Error

caused by any factors that systematically affect measurement of the variable across the sample