(1)MKT 473 CH. 1, CH. 20, CH. 2, CH. 3

(MIS) marketing information systems consists of 4 components

1. Internal Date 2. marketing intelligence 3. marketing science 4. marketing research

5. decline

1. cost reduction studies 2. price elasticity studies

1.precommercialiazation

1.concept tests 2.copy test 3. focus groups 4. market defintintion studies 5. name/package tests 6. product tests 7. simulated test market 8. target segment identification 9. traditional test market

two orientations of the market place? product oriented and customer oriented

Customer Oriented Companies do lots of MR (and all types) product Oriented Companies Focus their MR on Tracking Studies. steve jobs

8. firms should not do marketing research when the A. information needs are unclear B. resources are insufficient to do the research adequately C. information already exists D. value doesn't outweigh the costs E. these are all reasons no to do marketing research

E

What is the "lifeblood" of the marketing Framework?

Information

I don't know if we should enter the European Market

Information Reduces Uncertainty

the bottom line

Marketing is about creating value for the customer and the firm

problem solving research

problem solving research- "research undertaken to help solve specific marketing problems"

what it is

activities institutions processes

stage 5 Analyzing the Results

analyzing the results data without analysis is rubbish. The use of statistical and spreadsheet software makes analyzing data efficient and fun. 2 important points 1.good business decisions depend on trustworthy empirical analyses 2. you must learn to use the software needed to perform such analyses Basic Questions—Analyzing the Results Will standardized editing and coding procedures be used? How will the data be categorized? What statistical software will be used? What is the nature of the data? What questions need to be answered? How many variables are to be investigated simultaneously

6. the marketing manager needs to know the cost of the research project before approving it. during which stage of the marketing research process would such a consideration most likely take place? A. analyzing the data B. choosing the sample C. determining the research design D.Communicating the findings E. defining the problem

either E or c

marketing research can be 2 of the following three things

fast- in the sense that it can be completed quickly good- in the sense that the results can reflect reality accurately cheap- in the sense that the researcher can choose a lees costly design among comparable research designs. the 3rd will always be negative

descriptive research questions

what are the characteristics of our current customers? who are out competitors? what features of our product do our customers prefer? how many people in town are aware that we sponsor a youth sports team?

1. Internal Date

(accounting records) 1.sales 2.costs 3.inventories 4.cash flows 5. receivables 6. payables this type of data is generated from accounting records and data on sales,costs, and inventories. Because this type of data is organized according to accounting needs rather than according to marketing needs, it may be necessary to convert that data into a form thats more readily suited to marketing purposes.

3. growth

1. awareness/attitude studies 2. market structure analysis 3. positing studies 4. promotion tests 5. tracking studies POSTIONING STUDY Q2. A positioning study would typically be conducted in the <___blank___> stage of the product life cycle (PLC) and a repositioning study would typically be conducted in the <___blank___> stage of the PLC. Which response below best fill in the <___blanks___> ? a) precommercialization/introduction b) introduction/growth c) growth/maturity d) precommercialization/decline e) growth/decline

classifying MR studies along the product life cycle

1.precommercialiazation 2. introduction 3. growth 4. maturity 5. decline

9. the marketing problem should be defined clearly so that A. the research can then be designed properly B. the research can then be designed properly C. the decision maker can make the decision without the need for data collection D. all the other answers are correct E. communication between the researcher and the decision maker can be

A

casual research

To determine causality, to make "if-then" statement such as if X is done then Y will follow Identifying relationships: causal search 1. cause and effect 2. establishing relationships 3. testing hypotheses 4. pressures a solid knowledge base 5. usually use experiments ex -in store special displays increase product sales -predicting sales from a test market -"Will buyers purchase more of our products in a new package? "Which of two advertising campaigns is more effective?" causal research- which chiefly relies on experiments to establish cause and effect relationships, casual research seeks to control for external influences in an effort to assess a cause and effect relationship between 2 variables. if than satement as the name implies, causal research is meant to identify cause-and effect relationships. if you do X, than will the result be Y? experimental settings are ripe for testing cause-and-effect relationships because the researcher creates a controlled testing environment. However, its impossible to prove that a cause-and-effect relationship exists, because alternative explanations for a phenomenon may be true as well.

exploratory research questions

why are our sale declining? would potential new customers be interested in our dessert menu? what if any is the nature of our customers dissatisfaction with our brand

2. marekting intelligence

(observations and outside data) observations 1. sales force and dealers and distributors 2. suppliers 3. executive 4. awareness this intelligence comprises observations and data from existing publications or companies,such as syndicated data services that are dedicated to providing such data..By observations we mean managers or business owners observations of and interactions with sales force members, distributors, suppliers , or other managers or co workers. outside data 1. census 2. trade 3. association data 4. trade press 5. syndicated 6.services Q3. Which of the following marketing information subsystems gathers information about events and happenings "outside" the firm? a) Marketing intelligence. b) Marketing research. c) Analytical system. d) Internal data. e) None of the above

Longitudinal Research

1. Changes over time. 2. Identical study units or subjects (Panels) 3. repeated measures over time 4. can be prospective or retrospective 5. usually observational not experimental ex -cohort study of brand adoption - split cable ad campaign study -2 panels conducted over a long period of time and measured repeatedly (the same sample unit) to answer questions at periodic intervals. data collected over time provides series of snapshots flip book Descriptive research mat rely on cross-sectional (data collected at one time) or longitundial ( data collected over time) longitudinal research examines shifts over time.

Ch. 20 what are 10 useful MR tips

1. Look to University Help First. 2. Take a Statistics or Research Class 3. View Research as an Ongoing Process. 4. Avoid Research Method Myopia. 5. Start Researching Only After You Know What You Want to Know. 6. Don't Ignore Opportunity Costs. 7. pretest everything 8. study your customers throughly 9. make incentives a part of your research 10. share research results with employees Q10. Below are five tips for market researchers recommended by Hyman and Sierra. Which one refers to some market researcher's tendency to be fascinated by a few techniques that they then constantly seek to employ in different research projects. A) Viewing research as an ongoing process. B) Understand what you want to know before starting the research. C) Pretest everything. D) Sharing results with employees. E) Avoiding research method myopia. avoid research method myopia when trying to answer your research questions, don't limit yourself to one method, such as a survey or a focus group. because each research method provides unique insight. its appropriate to use several methods jointly to develop a detailed picture of your business situiation study your customers thoroughly .to fully understand your customers- which is critical to anticipating their responses to planned changes in your business- you must study their rational (cognitive) and irrational (emotional) thoughts.

Cross-Sectional Research

1. changes over groups 2. different groups if study repeated 3 one point in time 4. usually, not experimental 5. usually surveys ex -tracking studies --Brand awareness -- brand preference -- purchase intentions -- customer satisfaction -positioning studies --output is a map (or series of maps) that depicts where a product is perceived to lie on several dimensions with respect to other products in the category. measuring unites from sample surveys at a SPECIFIC POINT in time to determine a postion. dataa collected at one time. provides SNAPSHOT Q11. What type of descriptive research study measures units from a sample of the population at only one point in time? A) sample surveys B) cross-sectional studies C) longitudinal studies D) population research E) Both B and C are correct. Answer B)—See page 45 of the text also slide 31 of the session 4 class slides and slide 27 of the chapter 3 slides. cross-sectional research is designed to study differences among groups at one point tin time. Descriptive research mat rely on cross-sectional (data collected at one time) or longitundial ( data collected over time)

5 common types of exploratory research

1. focus group- is a type of qualitative research in which a group of people discuss their attitudes toward a product, an ad. and idea and so on. an interactive group setting-coordinated by a paid moderator-- encourages participants to speak freely with one another . confusion about the need for further research is major problem for managers enamored with focus groups. some managers who order focus groups erroneously believe that these groups fully indicate consumer through and expirations, so they mistakenly fail to order the additional research thats needed. 2.secondary or historical data- less expensive. secondary data are collected for a purpose other than the research problem at hand. such data often are economical in the sense that they are almost always less expensive to acquire than primary data. such data can provide a quick source of background information. given the growing prevalence of the internet, this may be the dominated kind of research you do during the next 30 to 40 years. data collected by the u.s. census bureau is an example of secondary data. gov collects data from citizens help make better mkt decisions. both the business literature targeted at academics and the literature targeted at practitioners may provide manful insight into the direction you may choose to take your orgnaization. 3. pilot study- are initial, small scale exploratory studies. if you intend to conduct a large and rigorous study, but your concerned about possible design error, a pilot study can help. it can provide feedback about the viability of the planned study, whether new procurers are required, and so on 4. experience survey- is a type of in-depth interview in which knowledgeable people are asked about a particular research problem. these surveys typically are instructed and detailed, so they require more than an hour to conduct. fortunately, many experts are willing to talk about their expertise and their impressions of the problem or situation at hand. such interviews offer a rate venue for experts to display their expertise to an interested person. 5. case study- entails intensive investigation of one or more situations similar to the problem at hand. often, case studies require the cooperation of a hose site.

determines the success or failure of a marketing effort

1. how much specific targeted research was conducted. 2. how well the research was conducted 3. how the research was used

what marketing research does for your business

1. it provides important behavioral information 2. it generates, refines, and evaluates your marketing activities 3. it helps you benchmark and monitor your company performances 4. it helps you understand marketing as a process

why not do do marketing research?

1. lack of resources 2. poor timing 3. decision already made 4. managers cannot agree on needed information 5. needed information exists 6. costs outweigh benefits 7. lose element of surprise Q6. Which of the five situations below is not a situation where marketing research is recommended? A) A well established, low-price apparel retailer wants to reposition itself as a high-end boutique. B) A local restaurateur seeks to capture and maintain market share in a market crowded with corporate franchises C) A firm facing bankruptcy is interested in finding ways to turn the situation around. D) A producer of packaged foods wants to know if the addition of zip lock bags to its offerings will increase market share. E) A firm wishes to use an overt warning label to create a socially responsible reputation among its consumers C

4. maturity

1. lifestyle studies (current and potential customers) 2. repositioning studies 3. segmentation studies REPOSTITIOINING STUDY

why do marketing research

1. make better marketing decisions 2. understand consumers and the market 3. find out what went wrong

problem identification research (potential research)

1. market potential research 2. market share research 3. brand image research 4. market characteristics research 5. sales forecasting research 6. business trends research

problem-solving research

1. segmentation research 2. product research 3. pricing research 4. promotion research 5. distribution reserach • Problem solving research— "5 Ps": Price, product, place (distribution), promotion, people (segmentation) o Segmentation (division of customers into meaningful subgroups) o Product research o Pricing research—setting the ideal price is critical for new and existing products. o Promotional research—spending right amount on advertising, effective ads, online vs. print ads, etc. o Distribution research—helps determine best path from your facilities to customer's bags. Q5. All of the following are examples of topics typically addressed by problem-solving research EXCEPT ________. A) segmentation B) product C) promotion D) market share E) pricing D

CH. 3 both basic and applied research may employ the same methods

1. surveys 2. experiments 3. secondary data 4. qualitative methods 5. observation methods depend on problems not on type of research

Determining when to conduct marketing research

1. time constraints is sufficient time available? yes arability of data information already on hand inadequate? yes nature of the decision is the decision of strategic or tactical impotence? yes benefits vs costs does the information value exceed the research cost? yes conduct marketing research

2. A test market would typically be conducted in the <> stage of the product life cycle (PLC) and a price elasticity study would typically be conducted in the <> stage of the PLC. A. Introduction/maturity B. precommercialization/decline C. growth/decline D. precommercilaztion/introduction E. introduction/growth

B

3. Measure twice cut once and look before you leap are adages that in marketing research mean ensuring that your methods and questionnaires are free from flaws before employing them in data collection. which of the five tips below express the sentiment expressed in the opening of this question? A. understand what you want to know before stating the research B. presets everything C. sharing research results with employees D. avoid research method myopia E. viewing research as an ongoing process

B

4. the last stage of the marketing research process is <> and is typically followed by <> which response below best fill in the blanks? A. Analyzing the data/ presenting the findings B. defining the problem/ making a marketing decision C. presenting the findings/ making a marketing related decision D. making a marketing decision/ drafting the report E. presenting the finding/design the problem for the next project

C

5. which of he following is not to one of the subsystems of the marketing information systems? A. marketing intelligence B. marking science C customer information and service support systems D. marketing research system E. internal reports

C

Identifying Causality is not easy

Causal relationships are impossible to prove Evidence of causality 1.Appropriate causal order of events 2.Concomitant variation: Two phenomena vary together 3.Absence of alternative plausible explanations casual marketing campaign ex. nutrisystem Direct Marketers can trace which ads produced which sales

Stage 2—Designing the Study

Choosing the design Choosing the master plan for the research that follows. 1. master plan 2. framework for action 3, specifies methods and proceduers Q8. Fossil is considering the introduction of a super featured, fashionable wristwatch for men and women priced at $399. For this, the marketing research manager decided on 300 telephonic interviews from their customer database, 500 valid survey responses from individuals whose income is greater than $60,000, to be preceded by 3 focus groups. To which of the six steps of the marketing research process do the actions of the marketing research chief for Fossil fall into? A) Defining the problem B) Presenting the results. C) Analyzing the data. D) Collecting the data. E) Choosing the study design. E Basic questions - research design What types of questions need answering? Are descriptive or causal findings required? What is the data source? Are objective answers available by asking people? How quickly is information needed? How should survey questions be worded? How should experimental manipulations be made?

Components of Marketing research Vs components of marketing information systems

Components of marketing research 1. external information 2. fewer data sources 3. lesser volume of information () marketing research is conducted to answer an immediate, one time question like "in the last year, why have our restaurants customers reduced their purchases of appetizers by 25 percent? its inspired by a problem or an opportunity that mangers or current or potential business owners suddenly or gradually recognize. marketing research uses only those data sources that are relevant to the research problem. if marketing research is needed to better understand attitudes among various consumer groups, a survey-based study is appropriate. of course, sane study participants with real lives will answer only limited number of questions preferably on a single occasion. components of marketing information systems 1. internal and external information 2. greater number of data sources 3. bigger volume of information () ongoing, in contrast MIS generate marketing information on a routine basis, which can be weekly, monthly, or quartlely. MIS generate ongoing reports in a standardized format that managers can business owners can use for benchmarking or tracking trends. For, example these reports can alert a restaurant operator that dessert sales have been higher the first weekend of each month for the past six months. information system gathers great quants of data, and if the systems is working properly, it allows its operators to sift and organize that data in ways that allow managers to recognize patterns and trends. they differ in 1. why there used 2. how much data is collected

1.) Marketing research is best defined as A. systematic process of deigning experiments that provide decision makers with causal information so they can make marketing related decisions. B. systematic application of scientific principles to improve marketing related decisions C. systematic and objective process of refining and evaluating actions D. systematic process of analyzing existing information so that marketing managers can make marketing-related decisions E. Systematic and objective process of generating information to help managers make marketing-related decisions

E

Contrasting MR and MIS

MARKETING RESEARCH Emphasis on external Information Focus on Problem Solving Project by project operation Oriented on past Not well integrated into MIS One component of MIS MARKETING INFORMATION SYSTEMS Emphasis on both external and internal information Focus on both problem prevention and problem solving Continuous operation Future oriented Other coronets well integrated Includes MR and other components

Marketing research

Marketing research is systematic and objective process of generating information to help you make marketing related decisions. Marketing research is the function that links the consumer, customer, and public to the marketer through information --information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve the understanding of marketing as a process. Marketing research specifies the information required to address these issues; designs the method for collecting information; manages and implements the data collection process; analyzes the results; and communicates the findings and their implications. one component of MIS 1. external information 2. fewer data sources 3. lesser volume of information Q12. Which of the following statements is most TRUE about marketing research? A) Marketing research follows an unpredictable path. B) Marketing research is systematic. C) Marketing research cannot be planned. D) All of the answer selections are FALSE. E) A and C are both true. Answer B)—See page 10 of the text also slide 20 of the session 2 class slides and slide 3 of the chapter 1 slides.

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

Q9. The difference between basic research and applied research is that basic research is conducted to: A) determine the most appropriate basic price for new products B) determine the most efficient basic distribution channels for products. C) to expand our knowledge, rather than solve a specific problem. D) to determine the most basic desired features in new products. E) to understand the basic desires and motives of consumers. c although we different between basic and applied research, they can overlap

4. marketing research

Quantitative. number (surveys) 1.Surveys 2.Observation 3.Experiment Qualitative (focus groups) 1.Focus Groups 2.Projective Tests 3. Depth Interviews this is a component of the information system thats triggered by observations or trends revealed by the ongoing data-collection process. For example, the first three components of a marketing informations system may reveal a sales decline in one geographical region, but its unlikely they include the information needed to create marketing strategies and tactics to reverse that decline. however, a marketing study of consumer, retailers, and wholesalers may suggest he cause of the decline, which in turn may suggest ways to reverse it.

CH. 2 stages of marketing research

Stage 1—Identifying the Problem Stage 2—Designing the Study Stage 3—Selecting the Sample Stage 4—Gathering the Data Stage 5—Analyzing the Results Stage 6—Communicating the Findings

Exploratory versus conclusive research: whats the differnce?

The objective of Exploratory research is to provide insights into the research environment and research problem Conclusive research, on the other hand, is meant to test specific hypotheses and to examine specific relationships among variables.

What is descriptive research

To describe and measure marketing phenomena at a point in time Describing your market environment: descriptive research 1. describe characteristics of a population 2. describe features of a phenomenon 3. who? what? where? when? how? 4. to measure marketing metrics 5. project sample results on to population defined well ex -weight watchers average customer. women about 40 years old household income of about 50,000. at least some college education. trying to juggle children and a job -mens fragrance market- 1/3 size of women fragrance market. but growing at a faster pace. women buy 80 percent of mens fragrance. -"What kind of people are buying our product? Who buys our competitor's product?" -"What features do buyers prefer in our product?" Descriptive research- which predominantly is survey-based research. Descriptive research can describe the environment by identifying the characteristics of things or phenomena that are associated with one another. more definitive- in large part because you better understand your research problem and associated research questions- than exploratory research results. the point of descriptive research is to provide some understanding about the nature of a problem.

what is exploratory research

To gain background information, to define terms, to clarify problems and hypotheses, to establish research priorities Getting started: exploratory research 1. to better define the problem. 2. define terms and questions 3. usually instructed 4. to establish research priorities 5. conducted at the outset Exploratory research often is initial research thats conducted to clarify and define the nature of a marketing research problem,. In other words, exploratory research isn't meant to provide conclusive evidence upon which you can base a decision. most researchers conducting an exploratory study would assume that subsequent, more conclusive evidence would be provided by one or more later studies. ex -a firm needs to find out why product complaints were usually high -focus groups or depth interviews to help design the questionnaire for an image study -Ray Kroc, the milkshake machine salesman who created McDonald's, observed that restaurants in San Bernardino, California, run by the McDonald brothers were so busy they burned up more milkshake machines than any of his other clients -A furniture store owner asked employees what questions customers asked them. When he learned that a large percent asked "Where can I find office furniture?" he investigated carrying a line of office furniture. -"Our sales are declining and we don't know why." "Would people be interested in our new product idea?" Exploratory research is not conclusive. Subsequent reseach is expected exploratory research: to gain background information, to define terms, to clairfy problems, to establish research priorities. -asking what (qualatitiative) to find our how (secondary data) Informal usually preliminary to more conclusive research exploratory research- which includes qualitative research, in depth interviews, and observations. Exploratory research can clarify there research environment and thus help improve the design of descriptive studies. because the information revealed by exploratory research is only loosely defined, the research approach must be flexible and instructed. such research relied on small samples and doesn't require drawing representative samples from a larger population of interest. Exploratory research tends to be qualitative rather than quantiative: in other words, it entails words instead of numbers. the findings, results, and outcomes are tentative for exploratory because exploratory research results help undersigning sound conclusive research, the typical outcome of exploratory research is to suggest more research.

Value should> exceed estimated costs

VALUE Decreased uncertainty Increased likelihood of a correct decision Improved marketing performance and resulting higher profits COSTS Research expenditures Managerial time Delay of marketing decision and possible disclosure of information to rivals Possible erroneous research results

types of research

basic research 1. new knowledge 2. value to society as a whole 3.not decision oriented 4. done by university professors 5. published in professional journals 1.Attempts to expand the limits of knowledge 2. Not directly involved in the solution to a specific problem basic research is the type of research that academic may conduct. value to society as whole not decision orientated Helps to further our understanding of marketing as a discipline. It is conducted by academics and is published in scholarly journals. Example—how effective is advertising in a mature market. ex -does a Corporate social responsibility corporate social responsibility image positively influences consumers Willingness To Pay ? -what types of music enhance a stores luxury image? --Do consumers experience cognitive dissonance in low-involvement purchase situations? the research you probably don't care about basic research: helps to further our understanding of marketing as a discipline. conducted by academics and is published in journals. -attempts to expand the limits of knowledge - not directly involved in the solution to a specify problem -enhances our theory of marketing its intended to develop new marketing knowledge that ultimately may help managers with their practical problems in the same way that cutting-edge medical research may eventually cure a disease or research on child behaviors may help toy companies create a popular toy. Applied research 1. focus on specific marketing problems 2. value to a particular organization 3. decision oriented 4. done by MR firms or client organizations 5. confidentail 1.Conducted when a decision must be made about a specific real-life problem applied research is the type that research consultants, corporate research departments, or you may conduct. This type of research can help you choose among several viable courses of action. focuses on a specific problem decision orietnated ex - is there a profitable market for the iphoneSE? -how should the Heinz ketchups single serve packing be changed -Should McDonalds add Italian pasta dinners to its menu? -Should Procter & Gamble add a high-priced home teeth bleaching kit to its product line? the research you want to do applied research: conducted when a decision must be made about a specfic real-life problem. -top secret and is not published -focuses on specific problems - decision oriented is inspired by a real-life problem confronted by a real-life manager or business owner who must make a real-life decision in a timely fashion. applied research can keep you from being swayed by fault intuition and group think, or herd mentality. if done right offers critical info for making important business decisions. Helps managers to choose between several courses of action. It is conducted by research suppliers and corporate research departments. Example—how much to spend on broadcast and digital advertising for the next marketing campaign, for a specific offering and market

stage 6 Communicating the findings

communicating the findings the best study in the world is worthless if its findings are not presented meaninfgully 2 important points 1. one of the most important stages in the MR process. 2. Reports/slides often the only record of the research project for the client Basic questions- communicate the findings Who will read the report? Are managerial recommendations requested? Are presentations are required? If so, how many and to which people? What format will the written report take?

what it does

creates communicates delivers exchanges

hanging from descriptive research

cross-sectional and longitudinal Cross setional Gather data at a point in time Measure units from a sample Sample surveys are cross-sectional studies cross-secitonal- advantage of 1.representative sampling 2 response bias Longitudinal Repeatedly measure the same sample units of a population over time. Often make use of a panel -which represents sample units who have agreed to answer questions at periodic intervals. -Many large research firms maintain panels of consumers. Longitudinal-advantage 1.Detecting change 2. large amount of data collection 3. Accuracy

who benefit

customers clients partners society at large Firm benefits is self-evident

Conclusive

descriptive and casual such research is meant to provide sufficient evidence for making more informed managerial decisions. test specific hypothesis and to examine specfic relationships among variables. incoraptes well-defined information into the research design. in this sense, the research process is more formal because the questions are clearer. such research depends on large and representative samples that can be projected to a larger population of interest. the data anatlyis is quantitative. number oriented more defintive Conclusive research findings can support more informed decisions.

make sure research results are relevant and believable

does the research follow accepted scientific methods? 1. bottom left. is the research relevant to a specific marketing problem? 2. on top y y n n yes and yes- results are relevant and beleviable yes and no- results are belibable but not relevant no and yes- results are relevant but not believable no and no- results are neigh billable nor relevant

stage 4 gathering the data

gathering the data .... arguably the most important stage in the data collection stage. if not research can't be answered 2 important points 1. errors in data collection are inevitable 2. identify sources of error and strive to minimize them data collection should be 1. valid 2. repetable 3. reliable Basic questions-gathering the data Who will gather the data? How long will data gathering take? How much supervision is needed? What operational procedures need to be followed?

stage 1 identifying the problem

identify the problem (problem definition) Indication of specific marketing decision area that will be clarified by answering some research questions Albert Einstein "the formulation of the problem is often more essential than its solution" iceberg principle in identifying the problem- the dangerous parts of many marketing problems is neither visible to nor understood by marketing managers. if the problem is incorrectly defined, all else is wasted effort. many authors say this is the most important step Determine the Unit of Analysis Individuals, households, organizations, etc. In many studies, families rather than individuals are the appropriate unit of analysis Users—Heavy Users/Light Users— or Non-users Determine Relevant Variables Anything that may assume different numerical values that are measures of something relevant Types Categorical Continuous Dependent Independent Hypothesis- A statement that can be refuted by empirical data ExploratoryResearch 1.Seconday (historical data) 2. Pilot study 3. Experience Survey 4. Case Study

marketing research is

just doing marketing research is not enough. marketing research increases likelihood of success

Marketing (AMA)- American Marketing Association

marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offering that have value for customers, clients, partners, and society at large.

Problem identification research

potential problems that may need fixed problem identification research- "research undertaken to help identify problems which are not necessarily apparent on the surface and yet exist or will likely exist in the future" Q4. Which of the following classifications of marketing research involves going below the surface to identify the true underlying problem that the marketing manager is facing? a) Problem solving b) Problem manipulation c) Problem correction d) Problem identification e) Problem exception ex. MIS in use 1. a menu-item analysis to identify items that are and aren't selling well 2. a promotions analysis to assess coupon redemptions and happy-hour purchases.

stage 3 selecting the sample

selecting the sample Sample is a subset of a larger population. 2 important points 1. samples need to be representative of the population 2. accuracy of results is determined by the sample size Q7. After determining the research design the next step in the research process is to A) collect data. B) select the sample. C) formulate the problem. D) prepare the research proposal. E) none of the above. B Who or what is the source of the data? Can the target population be identified? Is a sample necessary? How accurate must the sample be? Is a probability sample necessary? Is a national sample necessary? How large a sample is necessary? How will the sample units be selected?

7. the text says that marketing research can be A. good B. fast C. cheap D. actionable E. any two of the above, but not all three at the same time F. any two of A, B, or C but not all three

F

How many stages/steps are involved in the Marketing research process?

It depends on how the stages are defined. Different authors propose different numbers of stages. ours is 6

what is the objective

offerings with VALUE

3. marketing science Analytical system

(decision support systems) 1. analytical models 2. simulations 3. statistical analysis this system is developed by marketing scientists who create empirical models meant to help managers make better decisions. because such a system relies on sophisticated statistical methods and computer algorithms, the mangers who use one often don't understand its inner workings. Fortunatntey, not understanding whats under the hood is no more a problem for managers than it is for automobile drives. of course, most drivers must take their car to a mechanic when it breaks because they don't know how to fit it: similarly, most managers must ask a marketing scientist to fix an analytical system that no longer produces useful information.

2. intorduction

1. awareness/attitude studies 2. new advertising stagey tests 3. product refinement studies 4. tracking studies 5. usage studies

Both marketing research and Marketing information systems are used by

marketing managers to make better decisons

Are the Stages/Steps Compensatory?

not compensatory Compensatory means that a bad stage can be overcome by a good stage. MR Projects are like such a chain strongest as the weakest link