MKTG 4360 Exam 1
Editing
Involves checking the data collection forms for omissions, legibility, and consistency in classification
Pricing research
Involves finding the amount of monetary sacrifice that best represents the value customers perceive in a product after considering various market constraints.
Marketing strategy
Involves four stages to develop and implement: 1) Identifying and evaluating market opportunities 2) Analyzing market segments and selecting target markets 3) Planning and implementing marketing mix that will provide value and meet org. obj. 4) Analyzing firm performance
Integrated marketing communication
Means that all promotion efforts (adv., public relations, personal selling, event marketing, etc.) should be coordinated to communicate a consistent image
Unobtrusive methods
Methods in which research respondents do not have to be disturbed for data to be gathered
Symptoms
Observable cues that serve as a signal of a problem because they are caused by that problem. Ex. Drop in market share -Exploratory research can help identify these
Conflict of interest
Occurs when one researcher works for two competing companies. Ex. Apple study & Motorola
Temporal sequence
One of three criteria for causality; deals with the time order of events--the cause most occur before the effect
Nonspurious association
One of three criteria for causality; means any covariation between a cause and an effect is true and not simply due to some other variable
Concomitant variation
One of three criteria for causality; occurs when two events "covary," meaning they vary systematically
Idea generation
Qualitative research can generate ideas for new products, advertising copy, promotional ideas, and product improvements in numerous ways
Marketing metrics
Quantitative ways of monitoring and measuring marketing performance -allows firm to assess ROI
Geo-demographics
Refers to information describing the demographic profile of consumers in a particular geographic region
Experimental variable
Represents the proposed cause and is controlled by the researcher by manipulating it.
Applied marketing research
Research conducted to address a specific marketing decision for a specific firm or organization. Ex. Should Green Mt. Coffee add cola to its array of pod-based beverages?
Basic marketing research
Research conducted without a specific decision in mind that usually does not address the needs of a specific organization. It attempts to expand the limits of marketing knowledge in general and is not aimed at solving a particular pragmatic problem.
Product research
Research designed to evaluate and develop new products and to learn how to adapt existing product lines. -Concept testing, product testing, brand-name evaluation, and package testing
Researcher-dependent
Research in which the researcher must extract meaning from unstructured responses such as text from a recorded interview or a collage representing the meaning of some experience. (Component of qualitative research)
In-house research
Research performed by employees of the company that will benefit from the research -quick -collaboration of employees -cheaper -secrecy
Custom research
Research projects that are tailored specifically to a client's unique needs
Integrated marketing mix
Research studies often investigate effects of various combinations of marketing-mix elements on important outcomes
Debriefing
Research subjects are fully informed and provided with a chance to ask any questions they may have about the experiment.
Qualitative marketing research
Research that addresses marketing objectives through techniques that allow the researcher to provide elaborate interpretations of market phenomena without depending on numerical measures. It focuses on discovering new sights and true inner meanings. (subjective)
Promotion research
Research that investigates the effectiveness of advertising, premiums, coupons, sampling, discounts, public relations, and other sales promotions
Performance-monitoring research
Research that regularly, sometimes routinely, provides feedback for evaluation and control of marketing activity -Customer satisfaction -Most common forms: market-share analysis and sales analysis
Advocacy research
Research undertaken to support a specific claim in a legal action or represent some advocacy group. (ethical issues)
Do-not-call legislation
Restricts any telemarketing effort from calling consumers who either register with a no call list or who request not to be called
Researcher
Rights and obligations of the ________: -marketing research firms should practice good business ethics -professional org. with codes of ethics (AMA)
Codes
Rules for interpreting, categorizing, recording, and transferring the data to the data storage media
Limited-service research suppliers
Specialize in particular research activities, such as syndicated service, field interviewing, data warehousing, or data processing
Research process
Stages in the _________: -Defining research obj. -Planning a research design -Planning a sample -Collecting data -Analyzing data -Formulating conclusions and preparing a report
Distribution research
Studies aimed at selecting retail sites or warehouse locations in support of the distribution channel -Marketing channel -Supply chain
Research proposal
Summary of the managerial decision situation, the research objectives and deliverables, and a basic description of the research process
Exploratory research
Techniques for obtaining insights and gaining a clearer idea of the problem: -previous research -pilot studies -qualitative research -case studies -experience surveys
Push poll
Telemarketing under guise of research intended to "sell" a particular political position of POV Ex. Do you think candidate X, who is involved with scandal, can be trusted?
Federal Trade Commission
The _______(FTC) has indicated that it is illegal to use any plan, scheme, or ruse that misrepresents the true status of a person seeking admission to a prospect's home, office, or other establishment.
Data analysis
The application of computation, summarizing, and reasoning to understand the data that have been gathered
Marketing research
The application of the scientific method in searching for the truth about marketing phenomena. This process includes: -Idea/theory develop. -Problem definition -Info gathering -Analyzing data -Communicating findings and implications
Promotion
The communication function of the firm responsible for informing and persuading buyers
Deliverables
The consulting term used to describe research objectives to a research client
Marketing orientation
The corporate culture existing for firms adopting the marketing concept. It emphasizes customer orientation, long-term profitability, and a cross-functional perspective. -external focus -customer desires -customer research -identifiable market segments w/ unique product
need for marketing research
The determination of the ____________ centers on: -Time constraints -Availability of data -Nature of the decision -Benefits vs. costs Ex. Sunchips
Research objectives
The goals to be achieved by conducting research
Confidentiality
The information involved in a research will not be shared with others is known as ______
Research design
The methods and procedures for collecting and analyzing the needed information. Provides a framework or plan of action for the research. (ex. survey)
Doers
The people actually performing the research
Decision making
The process of developing and deciding among alternative ways of resolving a problem or choosing from among alternative opportunities
Users
The research client, sponsor, or the management team requesting the research
Manipulation
The researcher alters the level of the variable in specific increments.
Scientific method
The way researchers go about using knowledge and evidence to reach objective conclusions about the real world
Total value management
Trying to manage and monitor the entire process by which consumers receive benefits from a company
Basic marketing research
Type of research that can test the validity of a general marketing theory or can be used to learn more about some marketing phenomenon, such as social networking?
Observation
Unobtrusive measurement that doesn't require direct participation Ex. A device recording the number of automobiles that pass by a proposed site for a gas station
Key questions in business and marketing research
What do we sell? How do consumers view our company? What does our company/product mean? What do consumers desire?
Informed consent
When an individual understands what the researcher wants him or her to do and agrees to the research study (active research)
Qualitative
____ research is useful when... -Difficult to develop specific research obj. -Research obj. is to develop in-depth understanding of some phenomena -Learn how consumers use product in natural setting -Context-dependent -Fresh approach needed
Honest
______ cooperation is the primary obligation of the research participant
Full-service
_______ research suppliers sometimes contract limited-service research suppliers companies for ad hoc marketing research projects
Exploratory
________ research is useful in product development
Human subjects
________ review committee carefully reviews proposed research design to try to make sure that no harm can come to any research participant. Otherwise known as an IRB.
Marketing research
_________: A means for implementing the marketing concept: -Tracking trends -Forecasting sales volume -Analysis of existing data
A marketing-oriented firm must
-Be consumer-oriented--makes decisions w/ awareness of effect on the consumer -Emphasize long-run profitability -Adopt a cross-functional perspective--integrate marketing across other business functions
Characteristics of marketing research
-Not intuitive or haphazardly gathered -Accurate and objective -Relevant to marketing mix
Identifying and Evaluating opportunities
1st stage of marketing strategy -Monitoring the competitive environ. for signals indicating a business opportunity
Analyzing and selecting target markets
2nd stage of marketing strategy -Geo-demographics -Once company knows geo-demographics of marketing segment, it can communicate with those customers by choosing particular medias Ex. Architectural Digest magazine
Planning and implementing a marketing mix
3rd stage of marketing strategy -Marketing research can be used to support specific decisions about aspects of the marketing mix -It is essential that an overall research plan involves all elements of marketing strategy
Experiment
A carefully controlled study in which the researcher manipulates a proposed cause and observes any corresponding change in the proposed effect.
Marketing concept
A central idea in modern marketing thinking that focuses on how the firm provides value to customers more than on the physical product or production process.
Placebo
A false experimental effect used to create the perception that some effect has been administered
Hypothesis
A formal statement, derived from theory, explaining some specific outcome
Theory
A formal, logical explanation of some event(s) that includes predictions of how things relate to one another
Syndicated service
A marketing research supplier that provides standardized information for many clients in return for a fee Ex. The Nielsen Company
Marketing channel
A network of interdependent institutions that performs the logistics necessary for consumption to occur
Survey
A research technique in which a sample is interviewed in some form or the behavior of respondents is observed and described
Focus group
A small group discussion about some research topic led by a moderator who guides discussion among the participants
Pilot study
A small-scale research project that collects data from respondents similar to those to be used in the full study (pretest and focus group)
Pretest
A small-scale study in which the results are only preliminary and intended only to assist in design of a subsequent study
Stakeholder orientation
A way of doing business that recognizes that multiple parties are affected by firm decisions. -external focus -consumer research -selecte segments w/ concern for public persona
Mystery shoppers
Act like customers while observing and recording data
Quantitative marketing research
Addresses research objectives through empirical assessments that involve numerical measurement and statistical analysis. Entails less interpretation. (objective)
Causal Research
Allows causal inferences to be made--they identify cause-and-effect relationships. (Causal inference) -Temporal sequence -Concomitant variation -Nonspurious association
Communication technologies
Always "connected"--time, place, and distance are irrelevant -decreases in info acquisition, storage, access, and transmission costs
Outside agency
An independent research firm contracted by the company that actually will benefit from the research -new perspective -objective -special/local expertise
Implicit consent
Behaviors that are openly performed in public implies that one is willing to have others observe them (passive research)
Research suppliers
Commercial providers of marketing research services Ex. Burke, JD Power
Relationship marketing
Communicates the idea that a major goal of marketing is to build long-term relationships with the customers contributing to their success. Views a sale not at the end of a process but as the start of the org's relationship with a customer. (CLV)
Standardized research services
Companies that develop a unique methodology for investigating a specific business specialty area *Method is standardized, not data
Empirical testing
Comparing a hypothetical proposition against reality using data
Pseudo-research
Conducted not to gather information for marketing decisions but to bolster a point of view or satisfy other needs
Exploratory Research
Conducted to clarify ambiguous situations or discover ideas that may be potential business opportunities. Initial research that does not provide conclusive evidence and assumes subsequent research.
Service monitoring
Contacting customers about their experience with a product -There is no selling attempt
Qualitative data
Data that are not characterized by numbers, and are textual, visual, or oral; focus in on stories, visual portrayals, meaningful characterizations, interpretations, and other expressive descriptions.
Quantitative data
Data that represent phenomena by assigning numbers in an ordered and meaningful way
Product oriented
Describes a firm that prioritizes decision making in a way that emphasizes technical superiority in the product. -internal focus -product research is critical -narrow/niche markets served
Production oriented
Describes a firm that prioritizes efficiency and effectiveness of the production processes in making decisions. -internal focus -process research -mass markets
Descriptive research
Describes characteristics of objects, people, groups, organizations, or environments; tries to "paint a picture" -Addresses who, what, etc. -Accuracy is critical -Understand nature of problem -No evidence of causality -Diagnostic analysis
Analyze marketing performance
Final stage of marketing strategy -performance-monitoring research -marketing metrics
spurious
Ice cream is a ______ cause of drowning
survey
Inexperienced researchers often jump to the conclusion that a _____ methodology is usually the best design because they are most comfortable with this method
Sampling
Involves any procedure that draws conclusions based on measurements of a portion of the population