Mkt 3350, Chapter 4

Descriptive Research

Descriptive research - Systematically investigate marketing problem - Results expressed in quantitative terms - Cross-sectional vs. longitudinal designs

Research with Secondary Data

Does information already exist? Trade associations compile data Secondary data can save time and money

Exploratory Research

Exploratory research is useful for: -- Gaining better understanding of problem -- Identifying new opportunities Often qualitative in nature - Focus - Market research online community (MROC) - Case studies - Ethnographies, very detailed but no numbers or stats

3. Choose the Method to Collect Primary Data

Primary data collection falls into two broad categories Survey Observation Use of new technologies - Neuromarketing - Virtual stores

D. Longevity

5. Which of the following is NOT a part of the 3 key considerations when dealing with Data and Measurement Quality issues? A. Validity B. Reliability C. Representativeness D. Longevity

C. Primary

6. _____ Data refers to data collected by the firm to address a specific question. A. Secondary B. Descriptive C. Primary D. Casual

C. Going door to door

8. Which of the following is NOT a method to collect primary data? A. Telephone Interviews B. Face-to-Face Interviews C. Going door to door D. Mail Questionnaires

C. Define the Research problem

9. What is the first step in the market research process? A. Determine the Research Design B. Collect the data C. Define the Research problem D. Design the Sample

Successful market planning

- Developing marketing objectives - Selecting target markets - Positioning products - Developing 4 Ps strategies Information is the fuel that runs the marketing engine.

Research with Primary Data

- Primary data refers to data collected by the firm to address a specific question -- When a company needs to make a specific decision, secondary data may not be enough! -- May include demographics, psychological info, awareness, attitudes, and opinions - Exploratory, descriptive, and causal research

1. Define the research problem

- Specify the research objectives. What questions will the research attempt to answer? - Identify the consumer population of interest. What are the characteristics of the consumer group(s) of interest? - Place the problem in an environmental context. What factors in the firm's internal and external business environment might influence the situation?

B. Predictive technology

7. _______ uses shopping patterns of large numbers of people to determine which products are likely to be purchased if others are A. Bounce rate B. Predictive technology C. Mechanical systems D.Copyright

a. MIS

4. A firm's _______ stores and analyses data from a variety of sources. A. MIS B. MSDS C. Server D. Database

*Steps in the Market Research Process

1. Define the research problem 2. Determine the research design 3. Choose the method to collect primary data 4. Design the sample 5. Collect the data 6. Analyze and interpret the data 7. Prepare the research report

b. Research Design

1. _____________is a plan that specifies what information marketers will collect and what type of study they will do. a. Market Research b. Research Design c. Data Research d. Advertising Design

C. Cost

10. Which of the following is NOT an advantage in face-to-face interview? A. Takes a lot of time B. Can use long questionnaires C. Cost D. Flexibility of questioning

D. Specify the research objectives

12. Which of the following is not a step in the Market Research Process? A. Define the research problem B. Design the sample C. Analyze and interpret the data D. Specify the research objectives

A. Any location/medium to facilitate exchange

13. What is a marketplace? A. Any location/medium to facilitate exchange B. Set of institutions and processes for creating, communicating delivering, and exchanging offerings that have value for customers C. Any good/service or idea D. Consumer goods or services

C. Contests

14. Which of the following is not an example of a survey method? A. Online questionnaires B. Telephone interviews C. Contests D. Face-to-face interviews

A. Neuromarketing C. Virtual Stores

15.What specific uses of new technologies are imperative to the development of primary data? Choose all that apply A. Neuromarketing B. Interviews C. Virtual Stores D. Mechanical Systems

C. Multidimensional scaling

16.A marketing manager who wants to know how consumers perceive their brand vs. the competition might use this statistical technique. A. Conjoint analysis B. Cluster analysis C. Multidimensional scaling D. Transactional scaling

B. Marketing Research Ethics

17. _____________refers to taking an above board approach in conducting market research that does no harm to the participant. A. Marketing Intelligence B. Marketing Research Ethics C. Interactive Software D. Descriptive Research

B. Internal Databases

18. Electronic collections of consumer and market information obtained from data source within the company network are ____ A. Commercial Online Databases B. Internal Databases C. Market Research D. Primary Data

c. Both A and B

19. Exploratory research is useful for? A. Gaining better understanding of problem B. Identifying new opportunities C. Both A and B D. None of the above

d. Step 3

2. In which step of the Market Research Process is the method to collect primary data chosen? A.Step 2 B.Step 7 C.Step 5 D.Step 3

a. Custom Research

20. What kind of research is useful for a firm that needs to know more about why certain trends have surfaced? A.Custom Research B. Syndicated Research C. Market Research D. Reverse Engineering

d. The brain is scanned to find out why consumers make certain decisions

21. Neuromarketing is a marketing approach where A. Stores promote products that have not yet been released B. Consumers are studied on a small scale C. Companies advertise their product to all age groups D. The brain is scanned to find out why consumers make certain decisions

c. Marketing intelligence

3.________ is gathered via monitoring of everyday data sources, observations, and discussions with sales representatives. A. Marketing Research B. Information for Marketing Decisions C. Marketing Intelligence D. Computer Software

Causal Research

Causal research - Attempts to identify cause-and-effect - Often involves experiments - Independent and dependent variables Sales of beer and diapers are correlated, but does one cause the other?

Customer Insights and Marketing

Goal of the Marketing Insights function -transform data into information -- Data are raw unorganized facts -- Information is interpreted data More complicated than it sounds -- Massive amounts of data -- Much data is unstructured -- Functional silos

The Marketing Information System

Information for marketing decisions - Computer hardware and software -- Internal company data -- Marketing intelligence -- Marketing research -- Acquired Databases

2. Determine the research design

Once the problem is isolated, the next step is to determine a 'plan of attack' - A research design is a plan that specifies what information marketers will collect and what type of study they will do Research designs fall into two categories: - Secondary data - Primary data

Marketing research ethics

Refers to taking an aboveboard approach in conducting market research that does no harm to the participant. - Privacy issues - Confidentiality issues

Market Research

Refers to the process of collecting, analyzing, and interpreting data about customers, rivals, and the business environment - Syndicated research -- info that people developed on their own - Custom research reports -- original

Observational Methods

¥ Data collection approach in which researcher records consumer behaviors, often without their knowledge ♣ Personal observation ♣ Unobtrusive measures ♣ Mechanical systems

6. Analyze and Interpret the Data

¥ Data must be analyzed and interpreted to be meaningful! ¥ Tabulation ♣ Arranging data in a table or other summary form to get a broad picture of overall response ¥ Cross-tabulation ♣ Exploring data by sub-groups in order to see how results vary across categories

4. Design the sample

¥ Probability sampling ♣ Each member of the population has some known chance of being included (example: action films vs. "chick flicks") ♣ Simple random sample ♣ Systematic sampling procedure ♣ Stratified sample ¥ Nonprobability sampling ♣ A sample in which personal judgment is used to select respondents (example: surveying random individuals at your favorite restaurant) ♣ Convenience sample ♣ Quota sample

Data and Measurement Quality issues

¥ Quality of market research insights based on "garbage in, garbage out!" ¥ Three key considerations: ♣ Validity ♣ Reliability ♣ Representativeness

7. Prepare the research report

¥ Research reports typically include the following sections: ♣ Executive summary ♣ Description of research methods ♣ Discussion of study results ♣ Limitations of study Conclusions and recommendations

Survey Methods

¥ Survey methods are used to interview respondents ♣ Mail questionnaires ♣ Telephone interviews ♣ Face-to-face interviews ♣ Online questionnaires

5. Collect the data

¥ The quality of research conclusions is only as good as the data used to generate them ¥ Challenges to gathering data in foreign countries ♣ Cultural issues ♣ Language issues

Online Research

¥ Two major types of online research ♣ Gathering info from online surfing (e.g., cookies) ♣ Gathering info via online sources (e.g., hash tag searches) ¥ Predictive technology uses shopping patterns of large numbers of people to determine which products are likely to be purchased if others are