MKT 4301 - EX1 Review
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
