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Quiz #1 - Marketing Research & Analytics

Terms in this set (20)

Marketing Research
The systematic process of using formal research and consistent data gathering to improve the marketing function within an organization
Marketing Research Process (6 steps)
1. Defining the problem
2. Developing an Approach to the Problem
3. Formulating a Research Design
4. Doing Field Work or Collecting Data
5. Preparing and Analyzing Data
6. Preparing and Presenting the Report
4 parts of marketing research criteria:
- systematic
- objective
- informal
- targeted for decision making
Systematic:
data gathering and analysis must be designed and organized in advanced
Objective:
unbiased and impartial
Informational:
collects data relevant to decision-makers
Targeted for Decision Making:
data gathered and interpreted with the goal of reducing uncertainty in a decision situation
Marketing Research: Centralized Organizations
- single corporate research department performs all research
- better coordination and control of the research activity
- more economical and flexible use of facilities and personnel
Marketing Research: Decentralized Organizations
- company divisions have own research departments
- more direct and specific interaction with area under study
- more specialization to the divisions needs and markets
- better cooperation with divisional managers
Unethical Behavior in MR (just read)
- having a personal research agenda
- not maintaining anonymity of respondents
- conducting unnecessary research
- using secondary data that have been gathered through questionable means
- using measurement scales of questionable reliability and validity
- designing overly long/sensitive questionnaires
- using inappropriate sampling procedures
- following unacceptable field work procedures
- using statistical techniques when the underlying assumptions are violated
- incomplete, biased, and/or inaccurate reporting
What is a research proposal?
- describes a plan for conducting and controlling a research project
- basis for a written contract b/w manager and researcher
- provides a vehicle for reviewing important decisions
- used to choose among competing suppliers and to influence the decision to fund the proposed study
What are the 5 key contents of a research proposal?
- executive summary
- research purpose and objective
- research design
- time and cost estimates
- appendices
What should research design specify?
- the type of info to be collected
- possible data sources
- the data collection procedure (accurate, affordable, and timely)
What are the 6 components of research design?
- define information needed
- decide on the type of research
- specify the measurement and scaling procedures
- construct and pretest a questionnaire
- specify the sampling process and sample size
- develop a plan of data analysis
Controllable Marketing Variables
Product, Pricing, Promotion, Distribution
Uncontrollable Environmental Factors
economy, technology, competition, laws and regulations, social and cultural factors, political factors
sampling error
difference b/w a measure obtained from a sample of population and the true measure than can be obtained only from the entire population
non-sampling error
all other errors associate with a research project
non-response error
arises when some of the respondents included in the sample do not respond
response error
arises when respondents give inaccurate answers or their answers are misrecorded or misanalyzed
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