Term
| 5 purposes of Marketing Research(i can always use drugs) |
|
Definition
1. IDENTIFY data
2. COLLECT data
3. ANALYZE - give data meaning
4. Disseminate - get to decision maker
5. Use - implement policies
(I Can Always USE Drugs) |
|
|
Term
|
Definition
1. conduct research for optimal output
2. Information exchange between CUSTOMER + MARKETING and ENVIRONMENT & MARKET |
|
|
Term
|
Definition
Environment<-->Marketer<-->Customer<-->Environment<-->Marketer<-->Customer<-->
(EMC) |
|
|
Term
| Problem Identification Research |
|
Definition
the link between MARKETING & ENVIRONMENT
ie: SWOT Analysis |
|
|
Term
|
Definition
focus more on the "USE" part -- STRATEGY & IMPLEMENTATION
ie: which segments should we decide to target? |
|
|
Term
| SWOT Analysis (& internal/external, +/-) |
|
Definition
S-- describe mk -- desciptive research -- who is it that values our brand?
W-Satisfaction
O-geography survey - market
T-competitive intelligence
...
internal: SW
external: OT
+ SO
- WT |
|
|
Term
| Marketing Research Process |
|
Definition
1. Defining the problem ***most imp
2. Develop an Approach
3. Formulate Research Design
4. Field Work
5. Preparing & Analyzing Data
6. REPORT |
|
|
Term
|
Definition
# 2 (mk rsrch process)
-once you have an idea of problem, can put framework around it
(a) start w/ theory about how this problem works
ie: price influences product attitudes
(b) develop research questions from (a)
--how does this general theory apply to our situation
(c) specify info needed to answer question--info needed to satisfy theory
ie: how does price levels influence attitudes about our product
ie:
-price (quantitativly)
-quality perception (measures)
-attitudes |
|
|
Term
|
Definition
# 2 (mk rsrch process)
-once you have an idea of problem, can put framework around it
(a) start w/ theory about how this problem works
ie: price influences product attitudes
(b) develop research questions from (a)
--how does this general theory apply to our situation
(c) specify info needed to answer question--info needed to satisfy theory
ie: how does price levels influence attitudes about our product
ie:
-price (quantitativly)
-quality perception (measures)
-attitudes |
|
|
Term
|
Definition
# 4 (mking rsrch process)
--where the data has actually been collected
--most prone to err. of all the steps in this process |
|
|
Term
| "Preparing and Analyzing Data" |
|
Definition
# 5 (mking rsrch process)
--give data proper meaning
--important bc can be dangerous if done incorrectly |
|
|
Term
|
Definition
# 6 (mking rsrch process)
--get info to the right decision maker |
|
|
Term
|
Definition
used to describe the numbers of responses over the levels of a SINGLE variable
--look for patterns
--ie: "5 ppl chose level 1, 7 ppl chose level 4" |
|
|
Term
|
Definition
--describes 2 or more variables simultaneously
--used to describe the frequency of intersections of variable levels
ie: how level of surprise changes from male to female
--results in tables that reflect 2 or more variables that have limited # of categories or distinct values |
|
|
Term
|
Definition
used to identify changes in one variable correspond to changes in another
r=correlation coefficient tells us the strength of relationship bw the 2 values
+, they both move in same direction (positive)
-, the measurments move in different directions (indirect) |
|
|
Term
|
Definition
-used to estimate equations
-explains the influence of collection
of variables on one variable
-used for prediction
-we don't know which variable causes the other
-comes up with an equation for lime -- minimizing on a whole the distance bw data points (this line explains the data the best)
--output of regression: how we can use it to make predictions
R-bw 1 & 0
f-test=as a whole, how well does the equation predict dep. variable |
|
|
Term
|
Definition
Can we be confident there is a pattern or was the results due to chance?
-our data and some pre-existing standard
P-VALUE=tells us the likelihood results are due to chance; want LESS THAN .05 (significant standard) |
|
|
Term
| INDEPENDENT SAMPLES T-TEST |
|
Definition
| used to identify differences or a variable bw groups |
|
|
Term
|
Definition
-comparing 1 question to another question
-used to identify bw variables for the same respondents
-2 variables, 1 group
"did people feel more excited than surprised b4 they started trade excersise?"
--correlation bw 2 variables |
|
|
Term
|
Definition
--good to see if there is a general trend among the variables
--allows comparison for 3 or more groups
--testing that all the groups are EQUAL to each other
--are these values significantly different from each other or all the same?
--detect differences |
|
|
Term
|
Definition
"a problem well-defined is a problem half-solved"
--need proper tools (several) to gain proper perspective
-the most imp. stage of research project
"how can we address these changes in needs?"
"How can we satisfy this new mk?" |
|
|
Term
|
Definition
MANAGER: focus on SYMPTOMS; "what do we need to do?"
...if drop in sales is due to competitors, need to find out what the trade-offs perceived by customers bw products would be...
RESEARCHER: focus on CAUSES; "what do we need to know?" |
|
|
Term
|
Definition
1. History of the problem -- timeline of events that led to current situation
2. Alternative courses of action available
2. Criteria to evaluate alternatives
3. Criteria to evaluate alternatives
4. Nature of potential (in) action
5. Potential information needed
6. How information will be used
...a very thorough convo bw mk researcher & mngr about the nature of the problem |
|
|
Term
| Other contextual info (problem definition) |
|
Definition
1. industry experts
2. secondary data analysis
3. exploratory research
...about getting ideas to start out with--searching for ideas at this stage...starting to put some structure on the problem |
|
|
Term
| The Marketing Enviornment |
|
Definition
1. company resources--what are the company's constraints?
2. buyer behavior--what personality traits influence purchasing decisions?
3. legal issues--that might pertain to problem
4. economic issues--that influences customers' purchasing pwr (real inc. levels, employment rates, WTP...) |
|
|
Term
|
Definition
-mngmt decision problem VS. marketing research problem
-need to take the CM to narrow down into specific components to see what variables we need to collect
-Conceptual map: 1. MANAGEMENT WANTS TO____ 2. THEREFORE WE SHOULD STUDY_____3. SO THAT WE CAN EXPLAIN_____
---broad statement-->specific components
---have to figure out what info we need to collect
--translate mngr's problem into mk rsrch problem |
|
|
Term
| Developing an approach & choosing a research design |
|
Definition
| how are you going to solve your research problem? |
|
|
Term
|
Definition
1. Graphical--indep & dep variables; show direction of relationship
2. Verbal--captures direction, sign/annotating; doesn't capture strength
3. Mathematical (clearly & explicitly states everything, including strenght) |
|
|
Term
|
Definition
| looking to explain; what ur trying to predict/outcome |
|
|
Term
|
Definition
| USED to explain; levels are free to range |
|
|
Term
|
Definition
-conceptual framework based on statements that are assumed to be true
--specifies analytical model-->spells out relationships bw indep. & dep. variables |
|
|
Term
|
Definition
-refined statements of specific components of the problem
-Hypothesis: unproven statements or propositions that are Directly Testable By The Data
-Specify info requirments-->"What data do you need?" |
|
|
Term
|
Definition
-a research framework that specifies procedures for obtaining necessary info
-basic classification of designs
(a) eploratory research
(b) conclusive research--descriptive & casual research |
|
|
Term
|
Definition
things to describe: Sales studies, Consumer behavior: motivation & perception; Market characteristics
Primary technique: survey---cross seciontal: one-time survey; longitudinal: repeated survey with same respondents (panel) |
|
|
Term
|
Definition
used in: problem definition, developing hypothesis, isolating key variables
-often done in early stages of research--non-generalizable
-web tools: google trends, twitter |
|
|
Term
|
Definition
-manipulate indep. variables in a controlled enviornment--sales studies, consumer behavior, market characteristics
--Experiment: control unrelated variables while manipulating IV's; control timing: IV preceds DV
--estimate strength of effect of IV on DV |
|
|
