Term
|
Definition
| a systematic and objective process of generating information to aid in making marketing decisions |
|
|
Term
| Define Custom Research...aka Primary Research |
|
Definition
| Asks a specific research question. When a researcher starts a survey versus collecting Nielson data which is syndicated/secondary research |
|
|
Term
| Explain how a population's characteristics can be described. |
|
Definition
1. Demographics (age, income, education, etc.)
2. Pyschographics (lifestyle)
3. Purchase habits (frequency of purchases, where you shop, brands)
4. Future purchase decisions - intent to buy something |
|
|
Term
| Contrast individual data vs. aggregate data |
|
Definition
Individual data = person, household, store
Aggregate data = can't identify an individual |
|
|
Term
| Define cross sectional data |
|
Definition
| A snapshot of whatever we are measuring at a given time t. |
|
|
Term
| Explain the advantages and disadvantages of cross sectional data. |
|
Definition
Advantage: Can collect data on a large number of variables and investigate relationships
Disadvantages: Can't investigate a trend over time, if it exists |
|
|
Term
| Define longitudinal (time series) data. |
|
Definition
| Measuring a variable over time |
|
|
Term
| Explain the advantages/disadvantages of longitudinal data. |
|
Definition
Advantages: Can detect trends or changes over time.
Disadvantages: Typically involves a few predetermined variables. |
|
|
Term
|
Definition
| A group of individuals, stores, households, users of a product who agre to record and provide info on a set of variables over a period of time. |
|
|
Term
| What is a brand switching matrix |
|
Definition
| A two way table that indicates which brands a sample of people purchase over a period of time |
|
|
Term
| How do you identify switching asymmetry in a brand switching matrix? |
|
Definition
| You look at the highest %s in the table that aren't loyalty %s |
|
|
Term
| How do you identify the market structure of a brand switching matrix. |
|
Definition
| It is going to be either brand or attribute based so look at high groupings of numbers in either the brands or similar categories |
|
|
Term
| Explain syndicated panel (secondary) data. |
|
Definition
| Data that isn't collected for the purpose of market research |
|
|
Term
|
Definition
1. Internal - within the company (sales records, cost data, warranty cards)
2. External (printed sources, online)
* Commercial Standarized sources like Nielson |
|
|
Term
| Identify and define four types of syndicated panel data. |
|
Definition
1. consumer panels a group of demographically matched households have their purchases recorded at the point of purchase with UPC codes.
2. store audits - A group of stores (matched nationally) record their sales and promotional status for each UPC on a weekly basis.
Sales = opening inventory + purchase - Closing inventory
3. media panels - each member of demographically matched households has their TV viewing behavior recorded at home (Aggregate!)
4. single source data - Combination of all three (media +consumer panel + store panel. |
|
|
Term
|
Definition
| the mean or proportion of a sample |
|
|
Term
| Define sampling distribution |
|
Definition
| A measure of standard deviation and spread of data |
|
|
Term
| Define a confidence interval |
|
Definition
| The range around the observed mean (or p proportion) that the population mean (or proportion is expected to fall within a certain probability. (90%, 95%, 99%) |
|
|
Term
| What are the z scores for 90%, 95%, and 99% confidence intervals? |
|
Definition
90% -> 1.645
95% -> 1.96
99% -> 2.57 |
|
|
Term
| How do you calculate a confidence interval? |
|
Definition
| CI(sample mean) = (sample mean) (+/-) (Z of the confidence interval) * (standard deviation/square of sample size) |
|
|
Term
| How do you calculate an appropriate sample size? |
|
Definition
| n = ((Z of a confidence interval squared) * (standard deviation of sample squared))/(Error squared) |
|
|
Term
| How do you calculate the margin of error? |
|
Definition
| E = (+/-)(Z of the confidence interval)*(standard deviation/square root of sample size) |
|
|
Term
| What do you do if the mean is unknown? |
|
Definition
Use the 6-sigma rule!
Max and min values of the variable lie between +/- 3 standard deviations of the mean. |
|
|
Term
| What if you don't have the standard deviation? |
|
Definition
1. An estimate of the population proportion is given (pi). Standard deviation = sqrt(pi(1-pi)
2. If a specific population proportion doesn't exist use pi=.5 in the equation because its a conservative estimate. |
|
|
Term
| State the different types of scales. |
|
Definition
Measurement, comparative, non comparative.
Can be comparative or non compartive |
|
|
Term
| Classify types of scales, scale properties, and permissible analysis. |
|
Definition
1. Nominal Scale
* Only identifies; number has no assigned meaning.
* Use frequency and proportion
2. Ordinal
* ID+Order; distances not specified
* Frequency and proportions
3. Interval Scale
* ID + Order + Distance; 0 has no meaning
* Mean and standard deviation
4. Ratio Scale
* ID + Order + Distance; 0 HAS meaning
* mean and standard deviation |
|
|
Term
| Classify measurement scales. |
|
Definition
1. Comparative
2. Non comparative |
|
|
Term
| State types of comparative scales. |
|
Definition
1. Paired comparison
2. Rank Order
3. Constant Sum
4. Q-sort |
|
|
Term
| Define a rank order comparative scale. |
|
Definition
Respondents are given all objects at the same time. They rank them based on criteria provided by the researcher.
*Distances between ranks may not be equal.
* When number of objects gets large, its difficult to discriminate.
AB AC AD
BC CD
CD |
|
|
Term
| Define a constant sum comparative scale. |
|
Definition
| Respondents allocate a fixed sum of points to the objects based on criteria provided by the research. Scale has ratio scale property. |
|
|
Term
| Define a Q-Sort Procedure Comparative Scale. |
|
Definition
| When the number of objects becomes very large, respondents are asked to order the objects into groups. |
|
|
Term
| State the types of non-comparative scales. |
|
Definition
1. Continuous Rating Scales.
- respondents mark their ratings on a continuous line
2. Itemized Rating Scales.
- generic term that covers all types of interval scales
(likert, semantic differential scales, stapel scale) |
|
|
Term
| State the Kano method categories. |
|
Definition
1. Must Haves
2. Delighters
3. Linear satisfiers
4. Indifferent Elements
5. Reverse Elements |
|
|
Term
| Define quadrant analysis. |
|
Definition
| When you measure 2 different things at the same time...like importance and performance. |
|
|
Term
| State how a company would define the scope of market research. |
|
Definition
1. Identifying and Evaluating Opportunity
2. Selecting and Analyzing Target Markets
3. Planning and Implementing Market Mix (4Ps) - Product, Price, Promotion, Place Research
4. Monitoring Market Performance |
|
|
Term
| Compare/Contrast the benefits and costs of Company AXD of conducting research. |
|
Definition
Conducting Research
*Benefits - Reduce likelihood of failure, modify product/marketing strategy
Costs: Resources (time/money/personel) and competitive reactions |
|
|
Term
| Compare/Contrast the benefits/costs of Company AXD NOT doing research. |
|
Definition
Benefits: Save time, cost, retain proprietary info, avoid competitive reactions before launch.
Costs: High probability of failure, potential loss of product development cost, launch of cost. |
|
|
Term
| List the stages in the market research process. |
|
Definition
1. Research Objectives
2. Research Design
3. Data Collection Method
4. Questionnaire Design/Phrase ?s
5. Sampling
6. Data Collection/Analysis
7. Report and Recommendations |
|
|
Term
| Identify the differences between managerial decision problems and research objectives. |
|
Definition
| Decision problems are yes/no and research objectives help solve those problems. |
|
|
Term
| State alternative research designs. |
|
Definition
1. Exploratory Research
2. Descriptive Research
3. Causal Research |
|
|
Term
| What is exploratory research? |
|
Definition
Usually focus groups or in-depth interviews.
Very little is known about the problem
Want emotions, feelings, thoughts,
Can diagnose problems with complaints
New product ideas |
|
|
Term
| What is descriptive research? |
|
Definition
Surveys
Snapshot of a time period
We can describe in statistical terms
We know the problem and can identify relevant variables |
|
|
Term
|
Definition
Problem clearly defined.
Can isolate and control a few variables of interest
ex) promo in 2 stores. 1 uses coupons the other doesn't. |
|
|
Term
| Classify research designs using company newness and newness to market as criteria. |
|
Definition
1. Company New/ Not New to Market = survey
2. Company New/New to Market - use intuition to develop prototype.
3. Company Established/New Market - focus groups
Very little is known about the problem
Want emotions, feelings, thoughts,
Can diagnose problems with complaints
New product ideas |
|
|
Term
| What are the characteristics of qualitative research? |
|
Definition
1. Descriptive
2. Concerned with process rather than outcomes
3.Researches analyze their data inductively
4. "Meaning" is essential concern |
|
|
Term
| List the characteristics of a focus group. |
|
Definition
8-12 people
Homogeneous
1-2 hours
A focus group is quick, inexpensive |
|
|
Term
| What is the purpose of a focus group? |
|
Definition
|
|
Term
| What are types of exploratory research methods are there? |
|
Definition
1. Literature Search (library/web)
quick, cost efficent, develop a profile of competitors
3. In-Depth Interviews - knowledgeable person: current, former, target customers. It's flexible
3. Case Analyses - intensive study of selected examples |
|
|
Term
| State the different types of surveys. |
|
Definition
1. Communication -> Verbal/Written
2. Observational -> human/mechanical |
|
|
Term
| State the factors to consider in survey research. |
|
Definition
* Flexibility of administration
* Issue sensitivity
* Length of survey
* Sample control
* Response rate
* Speed and cost |
|
|
Term
| State/define the types of error bias in survey research |
|
Definition
Random Sampling Bias
Systematic Error
Respondent Bias
Researcher Bias
Nonresponse Bias (ppl didn't respond)
Response Bias
Deliberate Falisification (income/age)
Unconscious Misrepresentation (can't recall) |
|
|
Term
| How do you calculate response rate? |
|
Definition
| # of completed surveys/# of eligible surveys |
|
|
Term
| What are projective methods of exploratory studies? |
|
Definition
Word Association
Sentence Completion
Storytelling
Role Playing |
|
|
Term
| How do you calculate random sampling bias? |
|
Definition
| Sample mean - Population mean |
|
|
Term
| How do you calculate non-response bias? |
|
Definition
| Mean for those responded - Mean of original sample |
|
|
Term
| How do you calculate systematic response bias? |
|
Definition
| Observed mean - Sample mean |
|
|
Term
| What are the different types of survey methods? |
|
Definition
| Phone, mail, fax, email, web, personal |
|
|
Term
| State the steps in questionnaire design. |
|
Definition
1. Specific what info is sought
2. Determine type of questionnaire/method of administration
3. Determine content of individual questions
4. Determine form of response to each question
5. Determine wording
6. Determine sequence
7. Determine physical characteristics
8. Pre test |
|
|
Term
| What types of info can be sought on surveys? |
|
Definition
Past purchase/consumption experience
Awareness of new product/survey
Importance of attributes
Evaluation of competing products
New product purchase intentions
Demographics/classification variables |
|
|
