MKTG 342 Test 1

An organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.

Marketing

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

Marketing Research

Selecting a segment of the market as the company's target market and designing the proper "mix" of the product/service, price, promotion, and distribution system (place) to meet the wants and needs of the consumers within the target market.

Marketing Strategy

•Customer satisfaction studies •Image analysis •Distributor satisfaction studies •Web site evaluations

Monitoring marketing performance

-About _________ of global revenue of marketing research firms comes from _______ the United States -Firms must _____ to cultural, economic, and regulatory differences in every single step of marketing research.

70%; outside; adapt

use of "parallel" situations to offer guidance; care needed in choosing parallel

Case analysis

Seeks to link action to result. If I undertake a particular strategy, then will sales increase?

Causal research

Answers questions about who, what, where, when and how (not usually "why")When conducted properly, gives results that are meaningful about the larger population. Usually involves quantitative variables. May be cross-sectional (snapshot) studies or longitudinal studies.

Descriptive Research

"gathering" information from knowledgeable people on subject; no effort to get representative sample

Experience surveys

Most commonly unstructured, informal research including background information and general nature of problem.

Exploratory Research

are outside firms hired to fulfill a firm's marketing research needs. Used by smaller businesses.

External suppliers

T/F Marketing research consists of selecting a segment of the market as the company's target market and designing the proper mix of product, price, place and promotion to meet the wants and needs of those consumers.

False

unstructured, spontaneous discussion in small group setting; "focused" conversation

Focus groups

Frugging

Fund-Raising Under the Guise of a survey (unethical)

•Evaluation of proposed marketing mix (4P's) •Concept tests of new products •Advertising pretesting •In-store promotion effectiveness studies

Generating, refining and evaluating potential marketing actions

•Determining market demand •Identifying market segments •Studying product usage •Analyzing competition

Identifying marketing opportunities and problems

Expand current knowledge •Consumer behavior comparisons •Predictors of new-product success •Impact of long-term advertising on consumer choice •Comparison of marketing-mix variables between Internet and other media

Improving marketing as a process

Budgets to justify a standing research unit with the firm are usually found in the larger companies (e.g. Kellogg's, Ford, AT&T) or when the research involves delicate topics and images (e.g. The American Heart Association).

Internal suppliers

"placing" respondents into a situation and gaining access to their thoughts

Projective techniques

Methods of conducting exploratory research

Secondary data analysis, Experience surveys , Case analysis , Focus groups , Projective techniques

Sugging

Selling Under the Guise of a survey (illegal)

When marketing research is not needed

They can use internal data systems, competition and the economy can make research wasteful, they cannot afford it, cheaper research is nearly as good as expensive research

•Gain background information •Define terms •Clarify problems and hypotheses •Establish research priorities

Uses of exploratory research

•Marketing researchers should not work for ______ •Marketing researchers should not _______ any aspects of the research to third parties •Marketing researchers should not ________that is not needed by the client

competing clients; divulge; suggest research

In causal research, Marketing researchers undertake ________ to find out the answer to if-then concerns.

experiments

T/F An effective way to use marketing research to monitor a brands market performance is to evaluate the appeal of individual ads for that brand.

false

T/F marketing research firms are all capable of providing full-service, customized research to their clients.

false

T/F marketing research on consumer interest in a particular flavor is not really needed if a competitor has already introduced a successful product with that flavor

false

T/F once a research project has begun and research progresses, the researcher does not return to an earlier step in the process for any reason

false

T/F the marketing reearch industry has genrated veryfew complaints about the ethics of its practices

false

T/F within a company, a designated group/division that supplies marketing research is known as an external supplier

false

"A problem well defined is a problem ________"

half solved

-Marketing research can be ________ (by mail, phone, email, in person) -___________ (e.g. "do not call" lists) have arisen to address the abuses in marketing research -Marketing research practitioners must increase ________ standards and practices

invasive; Regulations; ethical

Research design is the ______ for how the information will be obtained, so everything else depends on _________.

plan; how well it is shaped

Research integrity: •Withholding, falsifying or altering information to _______________ •Allowing __________ (e.g. from management) to "find" a particular result •_________ clients for services not needed or performed (adequately) •Sharing __________ and proprietary information •___________(or purchase) as promised

protect one's interests; influences; Swindling; confidential; Failure to perform

Descriptive Research methods

surveys and panels.

Exploratory research is usually conducted when

the researcher does not know much about the problems or in the beginning

T/F Marketing research is a part of marketing.

true

T/F globalization has brought foreign marketing research firms into the us market and us marketing research firms into foreign markets

true

T/F if a company does its own marketing research but does not create a formal marketing research department, then it may fail to properly share the research lessons for one product with managers of other products that the company owns

true

T/F part of the decision of whether to pursue a marketing research effort is based on whether the firm will still benefit after waiting for the research results

true

T/F properly defining the managers problem is the most important step in the marketing research process

true

T/F sometimes marketing research predicts failure of a product, yet the product is ultimately a success

true

T/F the marketing research professional has an obligation to help client managers be certain that they are defining the research problem correctly.

true

T/F the purpose of marketing research is to link the consumer to the marketer by providing information that can be used in making marketing decisions

true