Marketing CH 4

examples of secondary research

- companies internal database -can buy from outside suppliers -using commercial online databases so marketing researchers can conduct their own searches (lexisnexus) -cheaper and can be more quickly obtained than primary

Nonprobability sample

-convenience sample -judgment sample -quote sample

How MIS operates

1.) Interacts with these information uses to assess information needs. 2.) interacts with the marketing environment to develop needed information through internal company databases, marketing intelligence activities and marketing research 3.) Finally, the MIS helps users to analyze and use the information to develop customer insights, make marketing decisions and manage customer engagement and relationships **begins and ends with users--assessing their needs and then delivering information to meet those needs

Marketing research project objectives

1.) exploratory research 2.) descriptive research 3.) casual research

marketing analytics

_______ Consists of the analysis tools, technologies, and processes by which marketers dig out meaningful patterns in big data to gain customer insights and gauge marketing performance.

casual research

test hypotheses about cause and effect relationships

Asses the information needs of the study

Cupcakes by Cindy is attempting to gather information about its customers in order to improve its customer service. Which of the following is the BEST place for this company to start to develop an efficient MIS?

Observational research

involves gathering primary data by OBSERVING relevant people, actions, and situations Ex: Trader joes might evaluate possible new store locations by checking traffic patterns, neighborhood conditions and locations of competitors like whole foods --observe not only what consumers do but what they say

Judgment sample (nonprobability)

The researcher uses his or her judgment to select population members who are good prospects for accurate information

touch point

Any contact between a customer and a company is called ___

Probability sample

- Simple random sample -Stratified random sample -cluster (area sample)

Survey (quiz)

A colleague needs to collect descriptive data about his customer's attitudes. He has not done this type of research before. What research approach would you recommend to best suit this research project?

Intrusions on customer privacy and the misuse of research findings

According to the text, two major public policy and ethical issues in marketing research are ___.

Inform customers of the privacy policy policy of the company

An international company has appointed a CPO to ensure the privacy and confidentiality of the consumer data it collects. Which of the following is the CPO MOST likely to do as a function of his job?

Experimental research

Best suited for gathering casual information. Involves selecting matched groups of subjects, giving them different treatments, controlling unrelated factors and checking for differences in group responses tries to explain cause and effect relationships

Customer relationship management (CRM)

Capturing and using customer data from all sources to manage customer interactions, engage customers and build customer relationships Companies use __ to manage detailed information about individual customer and carefully manage customer touch points to maximize customer loyalty Using __ can help understand customers better which in turn can help companies provide higher level of customer service and develop deeper customer relationships This technique integrates, analyze and apply the mountains of individual customer data to gain a 360 view of customers

publicly available

Competitive marketing intelligence uses _____ data sources

Marketing information system

Consists of people and procedures dedicated to assessing information needs, developing the needed information and and helping decision makers use the information to generate and validate actionable customer and market insights

Simple random sample (probability sample)

Every member of the population has a known and equal chance of selection

online marketing research

Internet and mobile surveys, online panels, experiments and online focus groups and brand communities -online panels for regular feedback or conduct live discussions and focus groups --internet well suited for quantitative research

Ethnographic research

Involves sending observers to watch and interact with consumers in their natural environments. Best way to observe people is in a real life situation

Send researcher door to door to collect data from target consumers

Lydia's Lights wants to extend its market into Mexico. Before jumping in, the company needs to conduct some in-depth research to gauge customer's needs, interests, and buying patterns. Which of the following is the BEST option for Lydia's Lights?

an internal database

Many companies build extensive electronic collections of consumer and market information obtained from data sources within the company's network. This is known as ___________.

Survey research

Most widely used method for primary data collection, is the approach best suited for gathering DESCRIPTIVE information Used when a company wants to know about peoples knowledge, attitudes, preferences of buying behavior can often find out by asking directly Advantage=flexibility and can be conducted in many situations Disadvantage= give pleasing answers to help interviewer, may not know the answer and make up to appear informed

Focus groups

Researchers and marketers watch the focus group discussion from behind a one-way mirror and record comments in writing or video. Researchers not only hear consumer ideas and opinions, they observe facial expressions, body movements, group interplay. Small samples and sometimes hard to generalize from results. Also some are not open and honest in front of others

Marketing information system (quiz)

The people and procedures dedicated to assessing information needs, developing the needed information, and helping decision makers use the information to generate and validate actionable customer and market insights comprise a

Stratified random sample (probability)

The population is divided into mutually exclusive groups such as age groups and random samples are drawn from each group

Cluster or area sample (probability)

The population is divided mutually exclusive groups such as blocks and researcher draws a sample of the groups to interview

Quota sample (nonprobability)

The researcher finds and interviews a prescribed number of people in each of several categories

convenience sample (nonprobability)

The researcher selects the easiest population members from which to obtain information

Provide useful customer insight

To deliver real value to markets, marketing information must ____

Internal databases, marketing research and marketing intelligence

To develop needed information, marketing information systems utilize _________.

Exploratory research, descriptive research, and casual research

What are the 3 types of objectives a marketing research project might have

Define the problem and research objectives, develop the research plan, implement the research plan, interpret and report the findings

What are the 4 steps of the marketing research process in their correct sequence

Marketing research, marketing intelligence, internal data

What are the three general sources from which marketers can obtain information

To create more value for customers

Which of the following best describes the purpose of the customer's insight team?

Translating questionnaires from one language to another is not an easy task

Which of the following is true regarding international marketing research?

secondary research

consist of information that already exists or has been collected for another purpose **companies start with this

primary research

consists of information collected for the specific purpose.

descriptive research

describe things such as the market potential for a product or the demographics and attitudes of consumers who buy the product

exploratory research

gather preliminary information that will help define the problem and suggest hypothesis

Big data

refers to the huge and complex data sets generated by today's sophisticated information generation, collection, storage and analysis technologies

A company extranet

A power tool company wants to give its customers access to internal, non-public information about how best to use its product in creative ways. What should the company create to provide customers with this information

Subjective

A researcher must always evaluate secondary information carefully; however, the researcher does not need to ensure the evaluation is _________.