60 terms

Marketing Research Midterm

STUDY
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Marketing Concept
A business philosophy based on consumer orientation, goal orientation and systems orientation
Consumer Orientation
Identify target market, needs, product
Goal Orientation
Identify corporate goals
Systems Orientation
Identify systems to deliver marketing mix and monitor the external environment
Marketing Research
The planning, collection, and analysis of data relevant to marketing decision-making and the communication of the results of this analysis to management
Marketing
Process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services, and creates exchanges that satisfy individual and organizational objectives
Three Critical Roles of Marketing Research
Descriptive, Diagnostic, Predictive
Descriptive function
The gathering and presenting of statements of fact
Diagnostic
The explanation of data or actions
Predictive
Analyzing opportunities to predict the results of a marketing decision
Customer Satisfaction
Well accepted measurement directly related to sales
Return on Quality
Management objective based on the principles that 1) the quality being delivered is at a level desired by the target market and 2) the level of quality must have a positive impact on profitability
Marketing Strategy
A plan to guide the long-term use of a firm's resources based on its existing and projected internal capabilities and on projected changes in the external environment
Marketing Mix
The unique blend of product/service, pricing, promotion, and distribution strategies designed to meet the needs of a specific target market
Proactive Management
Alters the marketing mix to fit newly emerging patterns in the market, target group, competition and internal capabilities. Views turbulence as an opportunity. Develops a marketing strategy which guides the long-term use of the firms resources based on marketing research.
Reactive Management
Waits for change to have a major impact before taking action. The turbulent market is a threat. Ex- Kodak
Applied Research
Research aimed at solving a specific, pragmatic problem in the short-term
Basic or Pure Research
Research aimed at expanding the frontiers of knowledge, validate theories, learn more about a concept/phenomenon with longer-term application
Programmatic- Applied Research type
Research conducted to develop marketing options- done repeatedly, helps uncover opportunities
Selective - Applied Research type
Research used to test decision alternatives- helps make decisions
Evaluative- Applied Research type
Research done to assess program performance- tracking success of decisions
When to conduct marketing research
high margin product, large industry
When not to conduct marketing reserach
Resources lacking, Results not useful, Opportunity has passed, Decision already made, Unclear what is needed to know, Information already exists, Costs of research outweigh benefits
Request for Proposal (RFP)
A solicitation sent to marketing research suppliers inviting them to submit a formal proposal, including a bid
Secondary Data
Data that have been previously gathered
Primary Data
New data gathered to help solve the problem under investigation
Behavioral Targeting
Use of online and offline data to understand a consumer's habits, demographics and social networks in order to increase effectiveness of online advertising
Internal Database
A collection of related information developed from data within the organization
Qualitative Research
Research finding that are not subject to quantification or quantitative analysis
Individual Depth Interviews (IDI)
One-on-one interviews that probe and elicit detailed answers to questions, often using non-directive techniques to uncover hidden motivations.
Projective Tests
Technique for tapping respondents' deepest feelings by having them project those feeling into an unstructured situation.
Hermeneutic Research
Research that focuses on interpretation through conversations
Concept
Captures the main promise and reason to believe for a product. Is often essential for qualitative research. Is written by the product mgr. or ad agency. Several concepts may be written for comparison in the research.
Quantitative Research
Research that uses mathematical analysis
Focus Group
Group of 8 to 12 participants who are led by a moderator in an in-depth discussion on one particular topic or concept
Delphi Method
Rounds of individual data collection from knowledgeable people. Results are summarized and returned to the participants for further refinement
Random Error
Error that results from chance variation
Systematic Error, or bias
Error that results from problems or flaws in the execution of the research design; sometimes called non-sampling error
Sample design error
Systematic error that results from an error in the sample design or sampling procedures
Frame error
Error resulting from an inaccurate or incomplete sampling frame
Population specific error
Error that results from incorrectly defining the population or universe from which a sample is chosen
Selection error
Error that results from incomplete or improper sample selection procedures or not following appropriate procedures
Measurement error
Systematic error that results from a variation between the information being sought and what is actually obtained by the measurement process
Surrogate information error
error that results from a discrepancy between the information needed to solve a problem and that sought by the researcher
Observation Research
The systematic process of recording patterns of occurrences or behaviors without normally communicating with the people involved.
Ethnographic Research
The study of human behavior in its natural
context, involving observation of behavior
and physical setting.
Mystery Shopping
People pose as consumers and shop at a company's own stores or those of its competitors to collect data about customer-employee interactions & gather observational data.
One-Way Mirror Observations
Watching behaviors or activities from behind a one-way mirror.
Experimental research
When the researcher changes or manipulates one variable (the independent variable) to observe the effect on another variable (the dependent variable
Test Market
Any research that involves testing a new product or change in an existing marketing strategy in a limited market or region of the country through the use of experimental or quasi-experimental designs.
Standard Test Markets
Firm's regular distribution channels sell-in and purchasing is monitored.
Scanner Test Markets
Scanner panel research firms enlist consumers in panels, give scannable cards for use when buying products, esp. in grocery stores. (IRI, Nielsen)
Controlled Test Markets
Managed by research suppliers who distribute the product in the agreed-upon distributors and shelf space.
Simulated Test Market
Consumers come to central location, view commercials, purchase product surveyed later, mathematical modelling.
Measurement
The process of assigning numbers or labels to persons, objects, or events in accordance with specific rules for representing quantities or qualities or attributes.
Construct
specific types of concepts that exist at higher levels of abstraction.
Constitutive definition
statement of the meaning of the central concept under study, establishing its boundaries.
Operational definition
specifies which observable characteristics will be measured and a process for assigning a value to the concept. Bridges theory with real-world events or factors.
Scaling
A procedure to determine quantitative measures of subjective, sometimes abstract, concepts.
Scales
Measurement tools, and are either uni-dimensional or multidimensional