Marketing Research Exam 2
Marketing Research Exam 2 MKTG 3633
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This 13 page Study Guide was uploaded by Alicia Turman on Wednesday April 13, 2016. The Study Guide belongs to MKTG 3633 at University of Arkansas taught by Steven Kopp in Spring 2016. Since its upload, it has received 16 views. For similar materials see Marketing Research in Marketing at University of Arkansas.
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Date Created: 04/13/16
Marketing Research—Exam 2 Chapters 5-7 Primary Data—refers to information that is developed or gathered by the researcher specifically for the research project at hand. Secondary Data—have previously been gathered by someone other than the researcher and/or for some other purpose than the research project at hand. You need some data and you go and collect that information; it is called primary data. When your friend needs that same data, she get it from you to be reused, it is called secondary data. In FACT-- secondary data are often collected for one purpose and then repurposed. Types of secondary data: Examples: o Qualitative: diaries, memories, newspapers, EBSCO, Lexis/Nexis o Quantitative: government-gathered, for-profit companies gather, annual reports of companies Primary Data Secondary Data Collected for…. Question/ problem at Broader questions/ hand other problems Process Very involved Rapid and easy Cost (per response) High Relatively low Time (to produce) Long Short Advantages to using secondary data: May achieve research objective Obtained quickly (if you know where to look) Inexpensive Usually available Enhances existing primary data May be much larger database Disadvantages: Data are outdated (stale) o Census is collected every ten years Incompatible reporting o i.e.- need zip code data and only have county data o “Hispanic” vs. Puerto Rican vs. Mexican Measurement units do not match o Need per capita income and only have household income Class definitions are not usable o Ex: Need % of population with income above $100k and only have “$50k and over” Credibility of the reported data o The source or collection procedures… Sample used to generate the secondary data maybe too small (or may not represent your desired target market) Two Types of secondary data: 1.) Internal—data that have been collected within the firm Three primary sources: o 1. Sales and marketing, reports Type of product purchased Type of end-user/ industry segment Method of payment Product or product line Sales territory Salesperson o 2. Accounting and Financial Records Sales per employee Sales per square feet Expenses per employee (salesperson etc.) o Miscellaneous Reports Inventory reports Service calls R&D reports Complaints --Database Marketing o Process of building and maintain customer (internal) database Internal database—consist of information gathered by a company (typically during the normal course of business transactions) Companies use their internal databases for customer relationship management o Database—collection of data and information describing items of interest o Data used to: Learn more about customers Customer segmentation Compare customers value to the company Provide more specialized offerings of customers 2.)External Secondary Data o Obtained from outside sources. Three sources: (PSD) 1. Published o Prepared for public distribution o Libraries, trade organizations, online 2. Syndicated Services o Firms collect data in a standard format and sell through subscription o Highly specialized ($$$$$) Ex: ims; Arbitron Typically not available in libraries for the general pubic 3. External bases o Supplied by organizations outside the firm such as online information databases ex: Lexis/Nexis; Factiva o Online information data bases-sources of secondary data searchable by search engines online. Online information data bases are sometimes called: aggregators or data banks. o Types of databases Bibliographic: ProQuest Numeric or statistical: 2010 Census Directory or list (trade association members) Comprehensive (contain all of the above) ; Lexis/Nexis Takeaways: o Secondary data are often large scale surveys undertaken by: Research companies Trade associations Government o Can be used to provide background information or industry status o Some of its “free” (U.S. government) much of its not free o Each source finds out something specific o So it’s a good idea to use multiple sources Core-based statistic areas—geographic reporting unites by the Census Bureau o Made up of two smaller units Metropolitan and micropolitan statistical areas Geodemograohics—classification of arbitrary, usually small, geographic areas in terms of the characteristic of their inhabitants. o Can access huge databases and construct profiles of consumers residing in an area. What is standardized Information? Standardized information: type of secondary data in which the data collected and / or the process of collecting data are standardized for all users. o Standardization- advantage of the use of survey methods. Syndicated data: data that are collected in a standard format and made available to all subscribers. i.e. Nielsen Television Index. o Tracking Studies—longitudinal studies that monitor a variable such as sales or market share over time. o Scanner volume tracking data—household purchases that are recorded though electronic scanners in supermarkets. Type of syndicated service. Not a use of scanner volume tracking: Forecasting sales Advertising theme selection o Diary purchase panels—type of syndicated services that households provide specific information regularly over an extended period of time. o Are used for all the following except: Establishing advertising rates Determining market potential by geographic area. o Retail-store audits— relatively precise information at the retail and wholesale levels Standardized (packaged) services—a standardized marketing research proves that is used to generate information for a particular user. i.e. PRIZM, segmentation system. o Packaged services—prepackaged marketing research process that is used to generate information for a particular user. o Data from a packaged service will differ for each client. o 3 advantages: Experience of the research firm offering the service Reduced cost Speed of conducting the service o 2 disadvantages: Inability to customize services Service firm not being knowledgeable about the clients industry VALS o Stands for values, attitudes, life style, psychographics o GeoVals—provides distributions of each of the eight VALS types for residential zip codes and block groups in the U.S. Coincided with advertising industry transformation to integrated marketing focus. Divides consumers into eight segments: o Innovators, thinkers, achievers, experiencers, believers, strivers, makers and survivors. Pioneering method of applying psychographics to business management and marketing research. Enabled marketers to use VALS as a way-beyond demographics- to think of consumers Two dimensions are used: resources and motivation o Motivation: Knowledge and principles—thinkers/believers Demonstrating success—achiever/strivers Social or physical activity—experiencers/makers o Resources: The ability of individuals to pursue those activities and interests. PRIZM By Nielson-Clarita’s Zip code Provides a standard way of sorting the population into similar segments. Demographic drivers o Age o Income o Presence of children o Marital status o Home ownership o Urbanicity 14 social groups o urban o 2 ndcity o suburban o town and country 11 life stage groups o younger years o family life o future years eWOM—electronic word of mouth, is a form of buzz marketing and it can become viral if the message is persuasive enough. o Focus on person-to-person contacts that happen on the internet. People meter-is an audience measurement tool used to measure the viewing habits of TV and cable audiences. o It’s about the size of a paperback book, and it hooked up to each television set and is accompanied by a remote control unit. Portable People Meter (PPM)—is a system developed by Arbitron o To measure how many people are exposed to listening to individual radio stations and televisions stations, including cable television. o Works like a pager, and detects hidden audio tones within a station or networks audio stream, logging each time it finds a signal. o Has an encoder, monitor, base stations etc. Harris Poll-marketing research firm that has worked with a wide range of industries. Gallup poll—an assessment of public opinion by the questioning of a statistically representative sample. o It’s an American research based global performance management consulting firm. Quantitative Research—administering a set of structured questions with predetermined response options to a large number of respondents. o Sometimes referred to as survey research Qualitative Data—research involving collecting, analyzing, and interpreting data by observing what people do and say. Less structured research methodology Is likely to be called “soft” research Provides rich insights to consumer behavior In depth understanding of a subject How it’s used – -often early or late in a project EARLY -to help define the problem -ID factors otherwise overlooked -examine things that can’t be easily captured by quantitative methods LATE -depth of understanding to quantitative Pluralistic research- combination of both quantitative and qualitative research methods o can gain advantages of both o may begin with exploratory research and then go on to conduct a full-scale representative survery. o with pluralistic research, the qualitative phase serves to frame the subsequent quantitative phase. Downside to qualitative – can’t draw conclusion Observation -researcher relies on observation rather than communication with a person Decisions when you are doing observational research – (DOSI) 1. Direct- observing behavior as it occurs OR Indirect- observing the effects or results rather than the behavior itself. -ex: archives and physical traces. o Physical traces—tangible evidence of some past event. o Archives—researchers observe tangible evidence of some event, such as measuring the amount of graffiti on buildings to indicate the potential crime in an area. 2. Disguised- subject is unaware that he or she is being observed o Covert observation—subject is unaware he or she is being observed. o Ex: mystery shopper Undisguised- subject is aware of observation o Overt observation—respondent knows he or she is being observed. o Lab setting, recording of sales calls, and Nielsen’s people meters are examples. 3. Structured- behaviors to be observed and recorded are identified beforehand OR Unstructured- no restriction is placed on what the observer would note: all behavior in the episode under study is monitored 4. Lab- observer controls extraneous variables (may influence the behaviors of people OR Field- natural setting and therefore realistic conditions 5. Human- observer is the researcher OR Mechanical- some form of static (recording) observing device Advantages – -insight into actual, not reported behaviors -no chance for recall error -better accuracy -lower cost Limitations – -smaller number of subjects -subjective interpretations -inability to pry beneath the behavior observed -Internal conditions are unobserved – motivations, attitudes, etc. -we don’t know the why Heat map- a visual representation of data where the individual values are represented as colors Focus groups- small group discussions led by a trained moderator among a small group of respondents in an unstructured and natural manner o * purpose : gain insight on issues of interest to the research by listening to a group of people from the appropriate target market. -objectives: o Generate ideas o Understand customer vocabulary o Reveal consumer needs, motives, perceptions, and attitudes on products and services o Understand findings from quantitative studies 2 types of focus groups: 1. Traditional – 6 to 12 people; meet in a dedicated room with one-way mirror for client viewing; about 2 hours 2. Non-traditional – online with client viewing from distant locations; 25 to 50 respondents; allows client interaction; nontraditional locations ADVANTAGES -no physical set up -transcripts captured on file in real time -participants can be widely separated geographical areas -participants in their home or office environments -moderator can exchange private messages with individual participants o Moderator—should have 2 characteristics: o Well trained o Possess the knowledge of the discussion topic and the nature of the group dynamic o Moderator must do 5 things during the interview: o 1.) establish rapport with the group o 2. ) state the rules of group interaction o 3.) set objectives o 4.) probe the groups response to determine the extent of agreement. o 5.) attempt to summarize the groups response the determine the extent of agreement -Other Qualitative Research Methods: Depth Interview- o Characterized as a set of probing questions posed one-on- one to a subject by an interviewer so as to gain an idea of what the subject thinks about something or why he or she behaves in a certain way o Loosely structured conversations with individuals drawn from the target audience o Interviewer asks probing questions o One-on-one, dyad, triad, or friendship groups o PUPOSE: Uncover underlying motivations, beliefs, attitudes, and feelings on a topic o Takes 30-60 minutes o Unstructured and direct (like focus groups) o One-on-one (unlike focus groups) o Open-ended, discovery-oriented Protocol Analysis o Placing a person in a decision making situation and asking him/her to think out loud as he/she is actually performing the task of interest. o Advantage: much of data on internal events are made available for inspection Projective techniques o Participants are placed in (projected into) simulated activities. o TRUE PUPOSE: is not disclosed to respondents. o Used when respondents are unable or unwilling to answer a question directly. o Hope that they will divulge things about themselves that they might not reveal under direct questioning o TAT (Thematic Apperception Test) o 4 types of projective techniques: Association Completion Construction Expressive Techniques. o Cartoon or Balloon test o Sentence completion, word association Association techniques -individual is presented with a list of words and asked to respond to each with the first word that comes to mind. Completion techniques—natural extension of association techniques, generating more detail about the individuals underlying feelings. o 2 types: sentence completion and story completion Construction technique—required to construct a response to a picture or cartoon in the form of a story, dialogue or description. o Picture response and cartoon test. Balloon test—a line drawing with an empty “balloon” above the head of one of the actors is provided to the subjects who are instructed to write in the balloon what the actor is saying or thinking. Picture test—a picture is provided to participants who are instructed to describe their reactions by writing a short story about the picture Expressive techniques—respondents are presented with a verbal or visual situation and asked to relate, not their own feelings or attitudes, but those of others. o Role playing and third-person technique Role playing—participants are asked to pretend they are a “third person” such as a friend or neighbor and to describe how they would act in a certain situation or to a specific moment. . o Underlying belief when administering expressive techniques: The respondent will reveal personal beliefs and attitudes while describing the reactions of a third party. Ethnographic research—is a term borrowed from anthropology to describe a detailed, descriptive study o a group and its behavior, characteristics, culture, and so on. Physiological measurement—involves monitoring a respondent’s involuntary responds to marketing stimuli via the use of equipment that monitors body processes. Pupilometer—is a device that attaches to a person’s head and determines interest and attention by measuring the amount of dilation in the pupil of the eye. Eye tracking—is a technique for measuring where the eyes are looking. o Especially useful in analyzing how consumers process advertisements. Galvanometer—is a device that determines excitement levels by measuring the electrical activity in the respondent’s sk Big Data: Exponential growth and availability of data, both structured and unstructured Data sets that are too large and complex to manipulate or interrogate with standard methods or tools It is just data that is too big to fit onto one computer Because of the size of the data set, it is processed by multiple machines across a network Pieces of data = individual pieces of information Big data analysis attempt to apply a structured to unstructured data Datafication = unstructured data – converted What makes big data “big”? - The 3 “v’s” Volume- the amount of data is big -data is growing at a 40% compound annual rate Velocity- speed of data processing -from “batch” to “periodic” to “real time” -RFID tags, sensors and smart metering all come into the business “right now” -rate at which data is coming into organizations is increasing Variety- just about anything online now counts somehow as “data” -unstructured numeric data in traditional databases -unstructured- text documents, emails, video, audio, stock ticker data, and financial transactions -information created from “just doing business” (RFID or other sensors) Practical Issues: Storage- where do you keep all of these big files? Analysis- so many files, so many individual data points – how to turn into “useful” information? It would take 5 years to watch all of the video that streamed in 2015 Data Mining: Trying to find patterns in the data Predictive analysis- finding patterns that are useful in predicting behavior/sales Locally relevant data + easily accessible = actionable insights Big data will provide us with some broad information about customers but we still need information at the “individual customer” level The American Community Survey o Provide current data communities every year now instead of once every 10 years.
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