Fashion Marketing Exam
The 4 P's of the Marketing Mix
"Product". Does it meet what customers want? "Place". Can you serve your customers at the right "Place" and right "Time"? "Promotion" What will encourage customers to buy? "Price". What realistic supply and demand "Pricing" strategies make sense, add value, and stimulate purchase? Fundamental Marketing Approach: Get feedback, use research to anticipate physical ("Tangible" ) and mental ("Intangible" ) needs and wants of customers.
Fashion Marketing
"Value" and "Customization" are critical success factors for many businesses. Delivering "Value" to the customer and "Personalizing" it better than "Competition" while earning a profit leads to success. A "Strategic Marketing Plan" is a roadmap that identifies a specific "Target" market, the "Preference" of that market's members, and specific ways to connect with and keep them. Fashion Marketing combines a "Tailored Marketing" plan with current "Fashion", characterized by "frequent" marketplace changes
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As seen in the previous section ethics and responsibility are key components for the success of companies in today's marketplace. The Marketing concept requires getting feedback, and using research to anticipate physical (Tangible) and mental (Intangible) needs and wants of customers. In conducting marketing research, we have to abide by a range of ethical guidelines that include (but are not limited to) the protection of consumers as human subjects participating in our research.
Unit 2 Summary
Consumers are humans with both Physical and Emotional needs -Value perceived by your costumers can be Tangible or Intangible Knowledge of what your customers value is your way to success. Approach the Marketplace STeP by STeP -Segment, Target, Position The Marketing Mix 4 P's -Gravitate around your target market. Know your target customer, get feedback, and use research to anticipate physical (Tangible) and mental (Intangible) needs and wants of customers Do good, be mindful of the needs of individuals, organization, and Society -Treat your customers the way you want to be treated.
Plagiarism
Plagiarism is a serious violation of academic integrity. In simplest terms, this occurs if you represent as your own work any material that was obtained from another source, regardless how or where you acquired it.
Survey Questions
"Double-barreled" questions Not: "How satisfied are you with your working conditions and wages?" But: (1)"How satisfied are you with your working conditions?"; and (2) "How satisfied are you with your working conditions and wages?" Leading Question: Most community leaders feel that BP has done its fair share to clean up the environment. Do you (check one) Strongly Disagree Disagree Don't know Agree Strongly Agree Most respondents will tend to agree with experts so you will not get their genuine thoughts Loaded/threatening question: Many shady and morally questionable consumers are OK with purchasing counterfeit fashion accessories because they are cheaper. Do you agree or disagree with those people? (check one) Strongly Disagree Disagree Don't know Agree Strongly Agree How would you feel if your answer strongly agrees to this question? Avoid questions that challenge the respondent's memory Very specific questions about the past challenge the respondent's capacity to remember accurately and may be unreliable/invalid.
Methods Section
"The ultimate purpose of the methods section is to instruct the reader about exactly what was done in the study and to allow the reader to replicate the study under identical conditions". What is your body of material Your Sampling (e.g., how many reviews, how did you select them) Your unit of analysis (e.g., words or phrases customers used to describe quality characteristics) Your categories of content (e.g., you adopted a set of 9 pre-defined categories including 'other' to ensure exhaustiveness. Your Quantification System (e.g., you counted the frequency of occurrence of each characteristic in either a negative or positive mention by the customers.)
Successful Marketing
(i.e., one that helps a business capture market share) starts with good research to understand consumer needs.
Research Ethics Principles
- "Belmont Report of 1979/Respect for persons informed consent" People should not be coerced into participating in the research. Participants usually have the right to know that they are part of the study. "Informed consent" should Describe the details of the study Identify potential risks Inform the participants of their right to withdraw and of any potential costs of withdrawing "Respect for Persons-Privacy and Confidentiality" People have a right to protect themselves, by keeping information about themselves private. - "Risk, Benefit & beneficence" (doing good) & Respect for persons "Secure the well‐being of participants by not harming them" Minimize potential risks Maximize possible benefits Protect participants with diminished autonomy (e.g., children) - "Justice": Preventing the overburdening of some populations in order to apply research findings to other groups. "There must be fairness in the distribution of benefits and possible risks across all participants."
Because Fashion Consumers are Humans (for the most part), at least two major concerns have to be considered:
- Behavior and motivations involved in the purchase decision - Ethical treatment of consumers as human 'subjects'
Consumer Behavior
- Consumers purchase fashion products for many reasons, including to fulfill physical and emotional needs, to serve as nonverbal communication of social cues, or for the entertainment that shopping provides. - "Need" for clothing often includes the "want" to conform to current fashion trends or to social and cultural cues. This makes textile and apparel products different from many other consumer products. - Consumer Decision to buy a garment is a complex process mixing rational and emotional factors - Through learning as much as possible about consumer behavior in the marketplace, fashion marketers can influence their purchasing.
Research Summary
- Human subjects must "Voluntarily Consent" to research and be allowed to "Discontinue" participation at any time. - Research involving human subjects must be "Valuable to society" and provide a reasonably expected "benefit proportionate" to the burden requested of the research participant. - Research participants must be "Protected" and "Safe". No research is more valuable than human well being and human life. - Researchers must avoid "Harm", "Injury", and "death" of research subjects and discontinue research that might cause them. - Research must be conducted by responsible and qualified researchers. - No population of people can be "excluded" from research or "unfairly burdened" unless there is an overwhelming reason to do so.
Value Vs. Cost
- P/V: "Perceived" is the ratio of "P" over "V" - When "V" increases, the "P" decreases. - When customers "Perceived" that something has value, it is "Valuable" . Fundamental marketing idea: - Identify what is "Valued" by (important to) the customer, and then "Provide" and "Communicate" that characteristic. - Doing so will reduce the customer's "Perceived Cost" ,and may help justify spending extra dollars because of added "Perceived Value"
There are different Approaches to achieving your Marketing Research goals, depending on:
- The nature of the problem you formulated - The variables you are interested in
Steps in Content Analysis
-Formulate specific research question(s) -Define the population -Select a sample of material (e.g., text for textual analysis) -Select and define the Unit (or level) of Analysis -Construct the categories of content or concepts to be analyzed -Establish a Quantification system -Train coders and conduct a pilot study -Code the content according to established definitions -Analyze the collected data -Interpret and draw conclusions Decide how many different concepts to code for. This involves developing a-priori or pre-defined set of concepts/categories
To innovate, entrepreneurs have to focus on understanding the CUSTOMER the COMPANY and the COMPETITION.
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What's a Survey
An instrument to measure and understand people's opinions or attitudes "If you can perceive, you can measure it" Data is self-reported by respondents Very common in consumer research, marketing, social science, media research, ... Telephone, mail, email, face-to-face Types of information collected include Facts, e.g., demographics (age, gender, education, income...) Opinions, attitudes, experience with products/services
Customer Requirements
Apparel consumers' needs and requirements are diverse and depend on the specific use of the garment (e.g., workplace vs. leisure). There are however general trends that appeal to today's consumers, including: - "Customization" or the integration of "Individual" requirements into a product. - There are different levels of "Customization" going from tailoring to body measurements (e.g., suit) to pure "Customization" in which products are designed to customer specifications. - Manufacturers and marketers that better "Research" what their "Target" consumers want will be in a stronger position to improve customer experiences by providing appropriate "Product" solutions and "Customizations". Social media and the Internet enable consumers to obtain what they want. They can: - Search online for product options to explore, - Compare prices, and thus evaluate perceived cost - Buy online, or visit a store to compare even more options or purchase on the spot. Social media and the Internet also enable marketers to "customize" the act of shopping, with "recommendations" for products and services "targeted" to "individual" consumers. "Marketing Customization" refers to the crafting of marketing campaigns and messages to address a particular market. If a marketing message is more "focused" , the "Response Rate" (the number of people who actually respond) is greater. In order to focus on a marketing message on what customers "value" a company uses: "Primary data": original information that is collected firsthand "Secondary Data": information that has previously been collected from other studies or sources such as textbooks, magazines, the Internet, and other published materials
You work for the Global Supply Chain division of Cotton Incorporated. Your team is tasked with finding new ways to market cotton apparel to consumers. You ask the questions: - How much cotton apparel is imported to the U.S. market annually? - What market share (in %) does cotton hold compared to synthetic competitors?
Both questions can be answered using the "Quantitative" approach because the variables of interest can be measured numerical description.
Types of Data
Categorical (Nonmetric) data -Properties with no "amount", Express quality rather than quantity --->Qualitative -No meaningful calculations are possible "Nominal" Variable No implied order or value of mathematical significance Are observations alike or different? No category is more or less than another No category is better or worse than another Dichotomous: when precisely only two valid categories "Ordinal" Variable Categories have some explicit ranking or Order among them e.g., small, medium, large, extra-large Socioeconomic status (class): lower, middle, upper Distance between any two rankings is unknown: No Fixed Unit (how much more/less). Categorical (Nonmetric) data ► Properties with no "amount", Express quality rather than quantity Qualitative; No meaningful calculations are possible II. Metric (Quantitative) Data ► Differing in amount or degree ► Express quantity Quantitative ► Calculations are meaningful ► Has a fixed Unit of Measurement
Interactive/Emergent coding
Categorize as you code
Dependent Variable
Central focus of the Research Outcome of interest E.g., the variable "Online sales return rate" can take different values or levels from 0% to 100%
Variable
Characteristic of a subject or situation that has different values [or levels] in a study
Sampling
Content Analysis, as well as in other research approaches including The Survey (coming up next) Experiment Observational, Non-Experimental For example in the exercise you are working on, your 'population' consists of all customer reviews posted online of charged cotton athletic tops. There may be thousands of reviews so you cannot reasonably be expected to analyze the entire 'population' (all of them) You selected a 'sample' of only 100 reviews It's almost never practical to study the entire 'population' because of its large size We select a 'sample' We wish to learn something about the entire population, but we can only test the small sample The ideal is for each object or individual in the population to be equally likely to be chosen as part of the sample, there is called an unbiased sample. Therefore, we want the sample to be representative of the entire population. We say 'approximately' because no matter what we do, there will always be sampling error or variation due to sampling.
Fashion Marketing Data Types
Data: facts, figures, elements of information; when organized, processed, and interpreted within relevant context become meaningful and actionable information. e.g., sales data, financial performance, product performance, returns, content analysis, survey data... Big Data: large Volume, broad Variety and high Velocity. Cannot be effectively processed using traditional methods. e.g., traditional data sources + websites, social media, mobile devices, customer loyalty programs, store video surveillance, RFID,
Population:
Define the body of content to be considered. (not the people!) Topic area must be clearly specified. A time period is usually defined to ensure relevance.
Trade Industry
Earnshaw's Infants, Girls and Boys wear Review, Visual Merchandising and Store Design, WWD (Women's Wear Daily)
‐ You seek out athletes and ask them about what they value in athletic wear. The method you are using is "______________" ‐ You search the library database for articles on athleisure wear. The method you are using is "______________" ‐ You gather information about a Polyester running t‐shirt sold by a competitor to find out what consumers like or complain about. The method you are using is "______________"
Expert Reviews Literature research Case Studies
Independent Variable
Explanatory, Predictor Manipulated Variable E.g., the variable "Consumers' satisfaction with sizing information" can take different values or levels among 'Extremely dissatisfied', 'Dissatisfied', 'Neutral, 'Satisfied', and 'Extremely satisfied'
To develop a research design, you will rely on three types of studies:
Exploratory, descriptive, and casual
Using a phrase verbatim from a source without quotation marks, but with a proper citation following the phrase, is not plagiarism.
False ....... Always use quotation marks
It is OK to incorporate sections of a speech I heard at a political event into my own presentation because it is all spoken words and there is no written document.
False ....... Plagiarism
It is OK to incorporate selections of an old paper from one class into a new paper for another class without citing the previous paper because it is your own work
False ....... Self‐plagiarism, you have to cite yourself.
Why is Marketing Research Particularly critical in Fashion?
Fashion is a Buyer-Driven Value Chain ❑ The underlying purpose of every organization is to provide value to its customers and stakeholders. ❑ Value is the perception of the benefits associated with goods and/or services (i.e., what the customer gets) in relation to what buyers are willing to pay for them. ❑ "Value occurs when customer needs are met through the provision of products, resources and services"* Value provided to the customer equates to Profits for the business ❑ To succeed it is necessary to "Develop appreciation and awareness of customer needs and values, and organize the firm's activities around efficiently providing for those needs - quickly, accurately, and at a minimum cost"*
What to Use
For your marketing research, only use scholarly and trade/industry literature
Pre‐defined/a priori coding
Have set categories prior to coding
Other variables do not have numerical values and are measured through narrative answers to questions such as "How" and "Why" consumers make decisions ▪ Example: Preferred color, self-esteem, compulsive behavior
How and Why
Some variables can be measured in numbers by asking questions such as "how many "? Or "how much"? ▪ Example: Number of daily visits to your retail website; total retail sales at your store for the month of May
How many and How much
Sampling
If each unit in a population had an equal chance of inclusion in a sample, then that sample will have characteristics that can be used as a basis for inference about population characteristics Generalizability to the population Sample Representative of the population Characteristics measured on the sample can be generalized to the population
Approaching the Market Place
In marketing, a "Strategy" addresses how companies respond to "Customers" and "Competitors" in the marketplace. "Strategy" is about "Competitive" positioning and "Separating" your company from others in customer's perception. STP stands for: S: Segment potential buyers into smaller groups T: Target a particular segment to pursue P: Position the product or service & company "Market Segmentation" is the method for dividing markets into smaller "Homogenous Clusters" of possible customers with similar "Characteristics", "Wants" , and "Needs" . With "Target Marketing" you promote your product or service only to your specific "Segments". "Position" is to put in place and create a leading "Position" to your product/service and company in prospective customer's minds. Critical Questions in the STP strategy: Is your Target Segment(s) "Specify" ? Can you designate and/or quantify specific segmentation parts? Can you generate enough "Revenue" within the target market to satisfy all "Stakeholders". "Growth". How much will the target market "Grow or change" over business cycles? "Cost". How "Cost-effective" is it to reach that specific market segment?
Qualitative and Quantitative
In most cases, Quantitative and Qualitative methods are complementary, and when combined, can offer a holistic understanding of your customer, company, and market. That is why, many Marketing Research efforts combine both Quantitative and Qualitative approaches.
Content Analysis
In order guide marketing decisions based on your content analysis research, you need to document your results in a report that includes the following sections: - Introduction: this section explains the problem you are addressing and describes the Exploratory Research you conducted through literature sources. - Methods: in this section you explain what you did to address the problem
Primary Information
Information you generate on your own, for example by conducting your own survey, is referred to as Primary.
Scholarly
International Journal of Fashion Design, Technology and Education, Critical Studies in Men's Fashion, Clothing, and Textiles Research Journal
Examples of methods for the analysis of consumers' motivations:
Interview, Observation, Textual analysis
Buyers Market
Is a marketplace in which there is an excess of supply over demand.
Content Analysis
Is a research tool used to determine the presence of certain words or "Concepts" within texts The text is examined using one of two content analysis basic methods: "Conceptual" analysis: Establish the presence and frequency of concepts "Relational" analysis: Examine the relationship among concepts In conceptual analysis, a concept is chosen for examination, and the analysis involves quantifying and tallying its presence. It focuses on looking at the occurrence of selected terms within the text Convert Qualitative data (narrative text, spoken messages, images) into Quantitative Measures (number of occurrences/presence) The terms examined may be implicit or explicit. The latter requires more complicated needs because of the need for subjective judgment. Relational goes beyond the presence/occurrence of concepts by exploring the relationships between them.
An "EXPLORATORY" study helps you focus your project and keep its scope manageable. It usually involves three methods:
Literature research Expert Reviews Case Studies
Value Vs. Cost
Most buying experiences result in the exchange of price-paid against a combination of Tangible and Intangible value-adding attributes. - The physical objects given to the customer represent Tangible value. Customers can touch, see, and try a Tangible product before buying. - Intangible value accrues from benefits that have no physical embodiment. A long-term customer-vendor relationship providing services beyond the purchased object is an example of Intangible value.
Examples of Failures
Nazi experiments on prisoners, including children, led to the Nuremberg Code U.S. Public Health Service: STD Inoculation Study carried out from 1946 to 1948 in Guatemala, exposed as many as 1,500 Guatemalan prison inmates, psychiatric patients, soldiers, ... 1932-1972 Tuskegee researchers intentionally withheld penicillin treatment from approximately 400 black men diagnosed with syphilis and did not inform them about the risks involved in doing so.
• Convenience • Snowball
Non-probability sampling methods
Popular Sources
People magazine, Harper's Bazaar, Nylon magazine,
The variables above are analyzed using "Qualitative Research" methods
Qualitative Research
The variables above are analyzed using "______________" methods
Quantitive Research
Survey Scales
Rating scales: ask respondents to rate something like an idea, concept, individual, program, product, etc. based on a closed ended scale format, usually on a five‐point scale. ‐ Likert scale: measures degree of agreement of respondents with a series of statements Ranking Scales: Ask respondents to rank a set of ideas or things, etc.
Qualitative Data Example
Reasons cited by consumers for choosing cotton: ▪ "Comfortable", "I like the feel", "the touch" ▪ "it is natural", "renewable", "biodegradable" ▪ "I trust cotton", "I have always worn cotton" Reasons cited by consumers for not choosing cotton: ▪ Need to "dress up", "appear more professional", "it wrinkles" ▪ "it was raining", "polyester dries quickly" ▪ Need to "exercise", performance sportswear
Stage 1 of the process is Formulating the Problem
Research problems arise when you experience an obstacle to understanding a "Management" problem. Determining whether the returns are related to consumer dissatisfaction with sizing information on your website is a "research" problem. A Research Problem is formulated as a statement about the relationship between two or more variables.
Simple Random
Say you want to select a sample of 50 students from the population of 2000(ish) Fashion School Students: You write the names of all 2000 students on a piece of paper, put all pieces of paper into a box. You shake the box, draw a piece of paper and set it aside, shake again, draw another, set it aside, etc. until you have 50 slips of paper Each unit has an equal chance (1/2000) of being picked for inclusion in the sample
In such a marketplace, buyers can be "___________" about their purchases because there are many "___________" available to them.
Selective, Choices
Content Analysis Purpose
Study consumer behavior by making sense of Communication Identify Patterns, Themes, Biases, and Meanings in a particular Body of Material Spoken, Written, Audio-Visual... (any form of human communication) Examples: Political speech Newspaper articles Photographs Customer reviews Interactive material User Comments
survey reliability and validity
Surveys are generally strong on reliability but weak on validity An instrument to measure and understand people's opinions or attitudes Non-tangible constructs difficult to capture in a survey
Exhaustive
The choices are not Exhaustive Where do you get most of your information about current events in the nation and the world? ( ) Radio ( ) Newspapers ( ) Magazine Now it is Exhaustive Where do you get most of your information about current events in the nation and the world? ( ) Radio ( ) Newspapers ( ) Magazine ( ) Internet ( ) Other Not Mutually Exclusive How much money do you spend on clothing every month? less than $100 $50-$150 more than $200 more than $300 Mutually Exclusive How much money do you spend on clothing every month? less than $100 $100-$200 More than $200 but less than $300 more than $300
Secondary Information
The information generated by others that you can borrow and apply for your own purposes. This is referred to as Secondary information/data because you borrow it from others; it is "second hand" and you either read or hear about it from others. The purpose of using secondary information is to focus your marketing research, i.e., Narrow down the Problem into Specific Question(s)
Interval Variables
The interval measurement level implies a fixed unit of measurement but no natural zero point. True interval variables are rare but one of the few examples is temperature in degrees Celsius. The measurement unit is fixed because every degree Celsius represents the same amount ("interval") of temperature. However, zero degrees Celsius does not mean "nothing" with regard to temperature.* Without a natural zero point, multiplication is not meaningful. It doesn't make sense to say that 40 degrees Celsius is "twice as warm" as 20 degrees.
Nominal Measurement Level
The nominal measurement level implies that there's no undisputable order in what's represented by the data values. An easy example is country. We may sort countries alphabetically, according to their sizes or to numbers of inhabitants. Different orders make equal sense for a list of countries. Now don't overlook the phrase "what's being represented". It's not the data values that matter. It's what they represent in the real world. So a tricky example are ZIP codes. These actually represent geographical areas, which don't have an undisputable order. This renders ZIP code a nominal variable.
Ordinal Measurement Level
The ordinal measurement level implies that there's a clear order but no fixed unit of measurement in what's represented by the data values. Typical examples are attitude scales like 1. Bad; 2. Neutral; 3. Good. known as Likert scales. There's a clear order in the sentiments represented by these values. "Neutral" is clearly between "Bad" and "Good". However, we've no clue just where between those. For instance, a demanding respondent who rates almost everything "Bad" may feel "Neutral" is actually closer to "Good" than to "Bad".
Ratio Measurement Level
The ratio measurement level implies a fixed unit of measurement and a natural zero point. An example is weight in kilos. A kilo is a fixed unit of measurement because it always represents the exact same weight. So what is meant by "a natural zero point"? A natural zero point means that zero represents "nothing". This holds because zero kilos corresponds to "nothing" with regard to weight. We rather avoid "absolute zero point" because ratio variables may hold negative values; the balance of my bank account may be negative but is has a fixed unit of measurement -Euros in my case- and zero means "nothing". This natural zero point is what really renders multiplication - and therefore ratios - of values meaningful; it makes perfect sense to say that € 2000,- is two times € 1000,- or four times € 500,-.
• Simple Random • Systematic • Cluster • Stratified
These are referred to as Probability sampling methods
Pre‐defined coding is also known as 'a‐priori' coding.
This is when you decide in advance how many and what concepts or categories you will look for in the material you will analyze. This decision is often made based on exploratory research and prior knowledge about the topic Even with a priori coding, Flexibility is recommended to make coding exhaustive. An easy way to ensure exhaustiveness is to add an 'Other' category to the 8 concepts listed above. This allows you to capture characteristics that are mentioned by costumers but that were not considered in the pre‐ defined list.
As previously mentioned, the objective is to convert Qualitative data (narrative text, spoken messages, images) into Quantitative Measures (number of occurrences/presence)
This where you decide to code for Existence or Frequency. In the first case, each concept is examined for whether it appears at least once, leading to a very basic process with limited perspective on the text. In the second case, you examine the number of times the concept is mentioned, which provides insight into the relative importance of the different concepts. A good quantification system you might consider for the Athletic Tops example, would have to code for Existence because one of the research questions you are asking is about how the characteristics rank in importance. You also need to quantify Positive and Negative mentions separately to answer the third question (What are the major factors that lead to negative reviews?)
Assume that after answering the quantitative questions in the previous slide, your team wants to understand the consumers motivations for selecting cotton apparel or synthetic alternatives. You ask the question: - Why do consumers sometimes prefer cotton apparel? - Why do consumers sometimes prefer synthetic apparel?
Those questions can be answered using the Qualitative approach because the variables of interest are best measured words description.
Citing Sources
To avoid plagiarism, you must give credit whenever you: • Use another person's idea, opinion, or theory. • Refer to facts, statistics, graphs, drawings, etc. that are not common knowledge. • Quote another person's actual spoken or written words. • Paraphrase another person's spoken or written words.
Societal Marketing Concept
Today, businesses have to carefully balance the needs of "individuals", the "organizations", and "society", because "ethics" and responsibility are key components for the success of companies. The four key ideas that must be balanced for this concept to work are: "customer wants" "competitors actions" "society's interests" "company profits"
An image that you cut and paste from a government website to use in your paper needs to be cited.
True
That Barack Obama was the first American of mixed race to be elected president is common knowledge that wouldn't have to be cited in a paper.
True... Common Knowledge
Survey
Two types of Questions or Items 'Open-ended questions' respondents are allowed to answer freely "How do you feel about...?"; "How many times have you been to Europe?" "Close-ended" respondents are allowed to choose from options "Do you approve of...?" Yes/No. "Do you: strongly disagree/ disagree/ neutral/ agree/ strongly disagree" You have been to Europe: Never, less than 5 times, 5-10, more than 10. The item is referred to as dichotomous when there are 'options' choices to select from.
The Market Place
When consumers perceive "Value" in a product, they become willing to pay the price for it. - In the Burberry example, "Exclusivity" is used to raise the desirability factor and the "Value" points of products. - Attributes that improve the desirability of and add "Value" to a product or service can be "Intangible" or "Tangible" - Examples of "Value"-adding attributes include a store's "Ambiance", or a "Customer Service" that exceeds expectations.
Cluster Sampling
You first list all Classes taught at the fashion school in a given term, then select a random subset of classes. Within each class, all Fashion students are included in the student sample. Each unit (student) has a nonzero chance of being selected. Advantages • Convenient and practical (compared to simple random) Disadvantages • If the 'clusters' are different from each other with regards to the measurement, there can be 'bias' or 'non-representativeness'
Stratified
You first list all Students and categorize them by classification (freshmen, sophomores,...). Then you draw a random subsample from each class to constitute your overall sample. Population, Strata, Random Subsamples Each unit has a known nonzero chance of being selected, depending on the size of the group or Strata Advantages • Representativeness of relevant variable is ensured • Selection is made from homogeneous groups • Sampling error is reduced Disadvantages • Knowledge of the population prior to selection is required • Can be complex expensive and time-consuming to administer
Systematic
You obtain a list of all Students. You randomly select a starting point on the list then 'systematically' pick students at a certain number apart (for example every 20th name) Each unit has a nonzero chance of being selected. Advantages • Selection is easy • Good approximation • The procedure can be inexpensive Disadvantages -a list of the population must be complied - Periodicity may bias the process Starting point selected randomly, then selection at a given distance 'systematic' sampling misses pattern.
Snowball
You recruit your classmates to participate in your sample. You ask them to recruit their own classmates from other courses they are taking. Each student recruited to participate in the sample is then asked to become a recruiter of more students. This is called Snowball Sampling The probability of inclusion of each individual is unknown (depends on connections to other individuals) This is the kind of sampling you do when you post a survey on Facebook and ask your friends to take it then pass it on to their friends. Easy to administer, can obtain large samples quickly, but problems with bias and lack of representativeness
Convenience
You sit in the atrium on a Friday afternoon, and ask Fashion school students passing by you to be part of your sample. Out of the population, only students who happen to be in the building and passing by you at the time have a chance of being selected.
Metric Variables
are variables on which calculations are meaningful. They thus comprise interval and ratio variables. We never distinguish these and we always use the same analytical procedures for them. Metric variables are also known as quantitative variables because they express a quantity of something rather than a qualtity.
Categorical variables
are variables on which calculations are not meaningful. They thus comprise nominal and ordinal variables. The distinction between the two is the same as is the classical approach, i.e., the existence of a clear order of data values. Ordinal variables are very common in survey data (all rating scales including Likert scale result in ordinal data. Categorical variables are also known as qualitative variables because they express a quality rather than a quantity.
Dichotomous variables
are variables that have precisely two distinct values. It is useful to distinguish dichotomous variables as a separate measurement level because they require different analytical procedures than other variables, such as SPSS Independent Samples T Test and SPSS Binomial Test. Dichotomous variables are sometimes known as binary variables.
Sellers Market
is a marketplace situation in which increased demand and low supply result in higher prices, because a limited supply gives sellers an advantage.
Fundamental Research
• Add Knowledge • Develop & test theories • Explain/Predict phenomena
Protection Of Human Subjects
• Following the "Nuremberg" Code, other guidelines were developed • The "Helsinki Declaration" was developed by the World Medical Association and has been revised and updated periodically since 1964 • Next came the "Belmont Report" of 1979 from the National Commission for the Protection of Human Subjects of Biomedical and Behavioral Research.
The Marketing Research Process
• Formulate a Problem • Review Current Knowledge, Literature, Practice in the industry, Competition... • Select Method of Inquiry • Gather Information, Collect Data • Interpret, Analyze, Develop Marketing Strategy
Vulnerable Populations
• Populations with particular potential for exploitation • Any individual that due to conditions, either acute or chronic, who has his/her ability to make fully informed decisions for him/herself diminished can be considered vulnerable • Any population that due to circumstances, may be vulnerable to coercion or undue influence to participate in research projects.
Validity and Reliability
• Reliability: The degree of stability or consistency exhibited when a measurement is repeated under identical conditions • A consistent questionnaire gives consistent answers/scores when used repeatedly under the same conditions Validity and Reliability • Validity is about truthfulness; are you measuring what you think you are measuring? Different ways to gauge Reliability: • Test-retest reliability: consistency over time of the same test conducted in the same conditions. • Internal consistency reliability: consistency across the items contained in the same assessment. Does the term coder ring a bell? This form of reliability is important to us, not because of figure skating as suggested by the narrator, but because of Content Analysis. • Parallel reliability: consistency across two or more versions of the same questionnaire. • Split Half reliability: consistency across two parts (halves) of the same test. • Special Case reliability: consistency across multiple raters or judges, or coders. Remember Content Analysis? Assume that instead of coding your customer reviews on your own, you ask a colleague or an intern to help you. You want your coding results to be consistent across coders ensure intercoder reliability Different ways to gauge Validity: • Content-related validity: do you cover/capture the test domain of interest? • Construct-related validity: are you capturing the concept of interest in your assessment? • Criterion-related validity: are you capturing the _________ of interest in your assessment? This is the third way, consider the following example: You come up with a questionnaire (a test) to assess your customers' purchase intention. Your test has high criterion-related validity if the customers who score high on purchase intentions end up actually purchasing your product. Construct Related Validity Straightforward and relatively guaranteed when measuring tangible variables, e.g., Average monthly sales over the last 5 years % returned online purchases Not as straightforward when measuring consumers' attitudes, feelings, etc., Satisfaction with your product (vs. the store/online experience) Motivation to purchase,... These constructs may be hard to capture in a survey question and thus lead to concerns with Construct‐Related Validity
5 methods of sampling
• Simple Random • Systematic • Cluster • Stratified • Convenience • Snowball
Applied research
• Solve specific problems • Develop new products • Make informed decisions
Things you do NOT need to credit/cite
• Writing your own lived experiences, your own observations and insights, your own thoughts, and your own conclusions about a subject • When you are writing up your own results obtained through experiments, surveys, observation or other research you conducted • When you use your own artwork, digital photographs, video, audio, etc. • When you are using "common knowledge," things like folklore, common sense observations, myths, urban legends, and historical events (but not historical documents) • When you are using generally-accepted facts, e.g., pollution is bad for the environment, including facts that are accepted within particular discourse communities, e.g., in the field of composition studies, "writing is a process" is a generally-accepted fact.
Important considerations before you begin marketing efforts
• Your customers and competition • Awareness and image of your product • Your product usage • Undiagnosed problems with you products • Customer desires and needs
Qualitative Methods
▪Narrative description and in-depth analysis of problem ▪Interviews, focus groups, observation ▪Content Analysis ▪ Conducted on Small samples (typically a limited number of participants) ▪ Cannot be generalized ▪ In-depth understanding of underlying phenomena
Quantitative Methods
▪Numerical description and analysis of problem ▪Experimental/Non-Experimental, Databases (trade, sales,...) ▪Survey ▪ Can be conducted on large samples ▪ Can be generalized ▪Often describes phenomena without in-depth understanding of underlying causes