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Study Guide - Exam 1

by: Danielle Lynch

Study Guide - Exam 1 MKT 319

Danielle Lynch
GPA 3.8
Marketing Research
R. Spreng

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Study guide filled in. Chapter 1-7 Book Notes with the important terms and information highlighted. Lecture Notes with filled in information. Everything you need for a successful exam!
Marketing Research
R. Spreng
Study Guide
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This 25 page Study Guide was uploaded by Danielle Lynch on Thursday October 8, 2015. The Study Guide belongs to MKT 319 at Michigan State University taught by R. Spreng in Summer 2015. Since its upload, it has received 197 views. For similar materials see Marketing Research in Marketing at Michigan State University.

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Date Created: 10/08/15
Ch 1 Introduction and Early Phase of Marketing Research Definition of Marketing Research Classification of Marketing Research Marketing Research Process Marketing Research Process Six steps defining the tasks to be done in a marketing research study The Role of Marketing Research in Marketing Decision Making 9 Uncontrollable Environmental Factors Customer Groups Controllable Marketing Variables 9 Marketing Research 9 Assessing Information Needs Marketing Decision Making Providing Information 9Marketing Managers Market segmentation market programs target market selection performance and control Marketing Research and Competitive Intelligence The Decision to Conduct Marketing Research Management should support it resources timemoney need strategictactical importance cost vs benefit An Overview of the Marketing Research Industry Marketing research industry Suppliers who provide marketing research services Selecting a Research Supplier Informal word of mouth selection or RFProposal RFInformation RFApplication Invitation to Bid Careers in Marketing Research Often begins with a supervisory position in fieldwork or data analysis and moves up to project management positions resulting in director eventually VP The Role of Marketing Research in M18 and D88 Marketing information system A formalized set of procedures for generating analyzing storing and distributing pertinent information to marketing decision makers on an ongoing basis Structured problems use of reports information displaying restricted can improve decision making by clarifying new data Decision support systems Built in exibility that allows decision makers to interact directly with databases and analysis models combine the models and analytic techniques of traditional marketing research with the easy access and retrieval of MIS Unstructured problems use of models adaptability can improve decision making by using whatifquot analysis International Marketing Research 40 US 40 Western Europe 10 Japan PampG successful in marketing to China dandruff shampoo due to good market research Marketing Research and Social Media Web 20 site allows its users to interact with other users or to change Web site content prices reasonable 2 Biases Respondents can selfselect themselves into the sample and second from advocacy Social media supplement traditional marketing research Ethics in Marketing Research Marketing research activities affect four stakeholders 1 The marketing researcher 2 The client 3 The respondent 4 The public Cooperation voluntary Identification disclosed Anonymity allowed Privacy policy outlined Data security maintained Reliability and validity disclosed to public Minors interviewed adhere to the Children s Online Privacy Protection Act Unsolicited email not sent to those requesting not to receive them Ch 2 Defining the Marketing Research Problem and Developing an Approach Problem definition Stating the general problem and identifying the specific components of the marketing research problem The Process of Defining the Problem and Developing an Approach a Understand limitations and capabilities c Focus on underlying causes d Internet for communication a Experience surveykeyinformant technique Interviews with people knowledgeable about the general topic being investigated b Leaduser survey Surveys that involve obtaining information from the lead users of the technology Experts useful in industrial rather than consumerresearch Experts useful when little info is available from other sources as in the case of new products Newsgroups online Du b Pilot surveys Surveys that tend to be less structured than largescale surveys in that they generally contain more openended questions and the sample size is much smaller c Case studies Involve an intensive examination of a few selected cases of phenomenon of interest Cases could be customers store or other units Environmental Context of the Problem 1 Past Information and Forecasts a Firm vs industry trends 2 Resources and Constraints 3 ijectives of the Decision Maker a Objectives Goals of the organization and of the decision maker that must be considered in order to conduct successful marketing research 4 Euyer Behavior a Buyer behavior A body of knowledge that tries to understand and predict consumer s reactions based on an individual s specific characteristics 5 Legal Environment a Legal environment Regulatory policies and norms within which organizations must operate 6 Economic Environment a Economic environment Purchasing power gross income disposable income discretionary income prices savings credit availability and general economic conditions 7 Marketing and Technological Skills Mana ementDecision Problem and Marketin Research Problem Conceptual Map A way to link the broad statement of the marketing research problem with the managementdecision problem Management wants to take an action therefore we should study topic so that we can explain question Defining the Marketing Research Problem Allow the researcher to obtain all the info needed to address the management Guide the researcher in proceeding with the project Define the project broadly enough so as not to overlook any relevant aspects Broad statement of the problem The initial statement of the marketing research problem that provides appropriate perspective on the problem Specific components of the problem Focuses on key aspects of the problem and provides clear guidelines on how to proceed Components of the Approach 1 Analytical Framework and Models a Objective evidence Unbiased evidence that is supported by empirical findings b Theory Guides the collection of data based on axioms which are assumed to be true c Analytical model Consists of a set of variables related in a specified manner to represent all or part of some real system or process d Verbal models Variables and their relationships are stated in prose form e Graphical models Visual and pictorially represent the theory preliminary steps to develop mathematical models f Mathematical models Specify and strength and direction of relationships among variables 2 Research Questions and Hypothesis b Hypothesis An unproven statement or proposition about a factor or phenomenon that is of interest to the researcher statements about proposed relationships 3 Specification of Information Needed International Marketing Research Be aware of underlying factors that affect consumer preference Marketing Research and Social Media 1 Problem Definition Blogs and Facebook 2 Approach to the Problem Incorporates consumer feedback reach to segments Ethics in Marketing Research Issues arise when the objectives of the decision maker are against the objectives of the client firm Ch 3 Research Design What Is a Research Design Research Design A roadmap for conducting the marketing research project that specifies the procedures necessary to obtain the information needed to structure and or solve the marketing research problem Basic Research Desi ns Uses 0 Formulate a problem or define it more precisely 0 Identify alternative courses of action 0 Develop hypotheses o Isolate key variables and relationships for further examination 0 Gain insights for developing an approach to the problem 0 Establish priorities for further research Descriptive Research To develop a profile of a target market To estimate the frequency of product use as a basis for sales forecasts To determine the relationship between product use and perception of product To determine the degree to which marketing variables are associated Based on a clear statement of the problem specific hypotheses and specification of the information needed 1 Sales studies a Market potential b Market share c Sales analysis 2 Consumer perception and behavior studies a Image b Product usage c Advertising d Pricing 3 Market Characteristic Studies a Distribution b Competitive analysis Interviews with a large number of respondents using a predesigned uestionnaire a Representative no response bias b Detects change large amount of data collection accurate Causal Research Causal research Obtain evidence regarding cause and effect relationships Causal research requires a planned and structured design Causal design Causal independent variables are manipulated in a relatively controlled environment To understand which variables are the causes and which are the effects To determine the extent of the relationship between the predicted effect and the causal variables Relationships Among Exploratory Descriptive and Causal Research Exploratory is used when little is known about the problem situation Descriptive or causal is used when the problem situation is known Exploratory can be used at any point in the study Tasks Involved in Formulating a Research Design 1 Define the information needed Design the exploratory descriptive and or causal phases Specify the measurement and scaling procedures Construct a questionnaire Specify the sampling process and the sample size Develop a plan of data analysis 99199 Research Design and the Value of Marketing Research Research design helps Random sampling error Error due to the sample selected being an imperfect representation of the population of interest Nonsampling error Errors that can be attributed to sources other than sampling they can be random or nonrandom Budgeting and Scheduling the Project Management tools needed to help ensure that the marketing research project is completed within the available resources Ensure information is obtained in time to address the managementdecision problem International Marketing Research Developing countries consumer panels are often not available which makes it difficult to conduct descriptive longitudinal research If marketing support infrastructure is lacking it s difficult to implement a causal design involving a field experiment Marketing Research and Social Media Networking communities can be used to recruit marketing research panels and are distinguished by voluntary and reputations are earned by winning the trust of other members Ch 4 Exploratory Research Design Secondary Data Advantages and Uses of Secondary Data Time and money savings Identify the problem Better understand and define the problem Develop an approach to the problem Formulate an appropriate research design by identifying key variables Answer certain research questions and test some hypotheses Interpret primary data with more insight Disadvantages of Secondary Data Limited fit with the current research problem Lack of accuracy time frame and compatibility in terms of time frame Criteria for Evaluating Secondary Data Specifications Methodology Reliable valid and Generalizable to the problem conduct field investigations and pilot studies ErrorAccuracy Compare different sources Currency Census data are periodically updated by syndicated firms Objective Objectivity determines relevance Nature Reconfigure the data to increase usefulness if possible Dependability Obtain data from original source Classification of Secondary Data Internal data Data available within the organization for which the research is being conducted External data Data that originates external to the organization Internal Secondary Data Reconfigure the data Customer Databases Transfer raw sales information to a personal computer and augment with demographic and psychographic information Psychographics Quantified psychological profiles of individuals Data Warehousing and Data Mining Data warehouse Centralized database that captures information from various parts of an organization s business processes such as sales or customer relations etc Customer Relationship Management and Database Marketing CRM System Decision support system that is used for managing the interactions between an organization and its customers People processes and technology work together to enhance customer satisfaction Database marketing Using CRM databases to develop relationships and highly targeted marketing efforts with individuals and customer groups External Secondary Data BusinessNongovernmental Data 0 Guides Standard or reoccurring information published by professional trade publications 0 Indices and Bibliographies o Directories Statistical Data Provide brief descriptions of companies organizations or individuals Government Sources Largest source of secondary data in this country and in the world 0 Census Data can be geographically categorized at various levels of detail I Quality high and detailed I North American Industry Classification System accommodating a larger number of sectors and are mo I Are exible in designating subsections new codes reviewed every 5 years Combining Internal and External Data Sources GeoDemographic Coding Involves merging internal customer data with external geographic and lifestyle data on the same customers GeoVisual Databases Created by combining internal customer databases with geographic data as from the US Census Bureau and making use of appropriate computer mapping software Computer mapping Generates thematic maps for solving marketing problems by electronically combining geographic and demographic information and a company s sales data or other proprietary information International Marketing Research Differences in measurement Developing countries less accurate data Taxation Frequency of data Marketing Research and Social Media Rich source of internal and external data and customer preference Already split up based on interest groups Ethics Reexamine primary data to ensure relevance if not relevant disclose this to the firm Issues Consumers don t want to deal with sales pitches they don t want lifestyles exposed Ch 5 Exploratory Research Design Syndicated Sources of Secondary Data Can be personalized to fit company needs Syndicated Data from Households Consumers Periodic Surveys Surveys that collect data on the same set of variables at regular intervals each time sampling from a new group of respondents Omnibus panels Used to implement different crosssectional designs at different points in time generally for different surveys True panels Same variables same respondents Psychographics and Lifestyles Lifestyle Distinctive modes of living within a society or some of its segments the interests they have activities they engage in and the opinions they hold of themselves and the world around them VALS Advertising Evaluation Measure the size and profile of the advertising audience and assess the effectiveness of using print and broadcast media Recruitedaudience Brought to theater Inhome viewing method General Surveys Uses of Surveys Segmentation consumer profiles consumer preferences positioning priceperception Advantages Disadvantages A Flexibility sampling allows specific targeting D What people say they may not do pressure for the right answer biased poorly phrased interviews improper Purchase and Media Panels Individuals households or organizations that record their purchases and behavior in a diary or on the Internet over time Electronic Scanner Devices Scanner Panels with Cable TV Combines scanner panel manipulations of the advertising that is being broadcasted by cable TVs Syndicated Data from Institutions Retailer and Wholesaler Audits Audit Data collection process derived from physical records or inventory analysis Based on counts of physical objects Advantages Disadvantages A Accurate broken down into variables such as brand type of outlet and size of market D Limited retail coverage and delay associated with compiling reporting cannot be linked to customer characteristics Industrial Firms Organizations Industrial firms organizations Secondary data derived from industrial firms and organizational sources and intended for industrial use Advantages Disadvantages D Incomplete data provided nature content quantity quality of information Combining Information from a Variety of Sources SingleSource Data Single source data Provide integrated information on household variables such as media consumption and purchases and on marketing variables such as product sales price advertising promotion and instore marketing effort Ethical Issues When applying for a card each shopper provides data on demographic and shopping related variables and is assigned a UPC code which is scanned and sold to syndicated firms Ch 6 Exploratory Research Design Qualitative Research Primary Data Qualitative Versus Quantitative Research Researchers must understand the problem situation before formulating a research design A Classification of Qualitative Research Procedures Direct approach A type of qualitative research in which the purposes of the project are disclosed to the respondent or are obvious given the nature of the interview Indirect approach Purposes of the project are disguised form the respondents FocusGroup Interviews 1 Design the environment Conference room w1 way mirror video members heav and nonusers should not be in the 2 Recruit and select participants same group 4 Prepare the discussion guide Preamble relax research topic summarize the comments and get a final read 5 Conduct the group interview Establish rapport state the rules set objectives probe the discussion in relevant areas and summarize the responses to agreement 6 Prepare the focusgroup report No conclusions should be drawn until the results are reviewed of the video Advantaies Disadvantages Qualified researchers are rare Unstructured nature makes coding analysis and interpretation hard Online Focus Groups Convenient cost effective fast turnaround 46 members 6090 minutes Advantages Geographicaltime constraints lessened 1512 less cost Fully express their thoughts Disadvantages Must have a computer Verifying that an individual is part of a target market is difficult Hard to capture full depth of emotion Lack of control over the environment Depth Interviews Interviewer should avoid appearing superior being detached ask questions in an informative way not yes or no probe Advantages Can link right to the respondent Disadvantages Grounded theory Uses an inductive and more structured approach in which each subsequent depth interview is adjusted based on the cumulative findings from previous depth interviews with the purpose of developing concepts or theories Pro39ective Techniques a Word association test words used b Hesitation and involvement Construct response in the form of a story dialogue picture or description 4 Expressive Techniques Presented with a verbal or visual situation and asked to relate the feelings and attitudes of other people a Role playing b Thirdperson technique Relate a 3rd persons beliefs instead of theirs but actually reveal their own due to less pressure Analysis of Qualitative Data Codes are used to identify relationships Qualitative Research Software Objective To perform induction to go from specific details to the general organizing idea explaining the data Identify words that repeat in respondents International Marketing Research Trained moderator Middle and Far East people are hesitant to express feelings ingroup settings Marketing Research and Social Media Focus Groups Online communities with carefully recruited members 860 blog members 14 week blog projects Limitations A lot of submissions to research Ethics in Marketing Research Unethical Allowing a client to be present as a coresearcherquot Video recording disclosed Ch 7 Descriptive Research Design Survey and Observation Survey Methods Survey Methods Classified by Mode of Administration Centrally located facilities Low cost Field service supervisors monitor the telephone conversations ComputerAssisted Telephone Interviewing Replaces paper and pencil Highly efficient Improves accuracy and controls for logically incorrect answers InHome Advantages Complex questions can be asked Good for physical stimuli Very good sample control High quantity of data Very good response rate Longer interviews can be done Disadvantages Low control of field force The tendency of respondents to give answers that are socially desirable but incorrect Potential for Error due to incorrect interviewing procedures Some samples may be difficult to access May take long to collect the data MallIntercept Advantages Complex questions can be asked Very good for physical stimuli Very Very good response rate Disadvanta es Potential for Moderate quantity of data CAPI Respondent sits in front of a computer and answers questions on a screen Advantages Very good control of environment Very good response rate Low potential for interviewer bias Disadvantages Moderate quantity of data 0 High cost Fax Mail Advantages No fieldforce problems No interviewer bias Low social desirability Low cost Disadvantages Limited to simple questions No control of environment Low response rate for cold mail Low speed Mail Panel A large and nationally representative sample of households that have agreed to periodically participate in mail questionnaires product tests and survey research Advantages No interviewer bias High quantity of data Low social desirability Lowmoderate cost Good sample control Disadvantages Electronic Limited to simple questions No control of environment Lowmoderate speed Email Advantages No interviewer bias Low social desirability High speed Contact hardtoreach respondents Disadvantages Low sample control No control of environment Low response rate Moderate quantity of data Security concerns Internet Advantages No interviewer bias Low social desirability Very high speed Visual appeal and interactivity Personalized exible questioning Contact hardtoreach respondents Disadvantages Low sample control No control of the environment Low response rate Moderate quantity of data Electronic Surveys Software and Sites Personalization Incorporate complex skip patterns Randomize response choices Consistency checks Add new response categories as the interviewing progresses Criteria for Selectin a Surve Method Improving Survey Response Rates 1 Prior notification 2 Incentives a Prepaid Included with the survey or questionnaire i Increase response rates more than promised b Promised Coupons money or some other incentive to participate that is sent only to those respondents who complete the survey 3 FollowUp a May increase to 80 4 Other Facilitators of Response a Personalization Observation Methods Personal A trained observer collects the data by recording behavior exactly as it occurs Humanistic inquiry A special form of personal observation in which the researcher is immersed in the system under study Onsite observation Observers are positioned in supermarkets and presented as shippers who need advice from another shopper in making purchase decisions Mechanical Mechanical devices rather than human observers record the phenomenon being observed People don t always want what they say they do Internet cookies Turnstiles Scanner data Obtrusive expensive A Comparison of Survey and Observation Methods Advantages Nonresponse errors eliminated Interviewing bias minimized Children pets Frequent short behavior Disadvantages Selectively observe only what they want to Too exiensive for loni term behaviors 3 Audit 4 Content Sampling Finding irregularities in data 90 of data is Unstructured Text analytics Text mining Categorizes what people are saying 900 response example international students 5 Trace Cookies Ethnographic Research Ethnographic Research The study of human behavior in its natural context and involves observation of behavior and setting along with depth interviews Other Methods of Descriptive Research Mystery shopping Question employees at stores take notes and observe variables of interest Social Media Observation Trace analysis Comments photos videos audio and other stimuli posted voluntarily by consumers on their social media sites are traces of their behaviors Ethics in Marketing Research Sugging Selling a product rather than addressing a marketing research problem selling a product Frugging Fundraising under the guide of research asking for a donation Anonymity important People should be observed in a public place and marketing research should be posted Introduction The role of marketing research We do market research to make better decisions Chapter 2 CASRO Code of Standards Responsibilities to Respondents 0 Confidentiality 0 Privacy and avoidance of harassment Responsibilities to Clients 0 Confidence mutual respect honesty confidentiality 0 Be careful that what we re good at doesn t drive all of our recommendations 0 Clients need to know there are other clients getting info 0 Info can t be released to other clients unless your client approves it o Bribery unethical modest gifts ok Responsibilities of Reporting to Clients and the Public 0 No mistakes can be made in reporting 0 At a minimum must have I Sponsor of study I Exact wording of the question I Others Biased and personal interest unethical Chapter 3 Cohort analysis Age effect As a person ages consumption changes Period effect People39s responses to historical events and processes Cohort effect Differences in generations Chapter 4 Simmons One View Chapter 6 Meansend chains Consumers fulfill higher level values product attributes are important and have meaning because they re connected to higher level values Attributes 9Functional 9Psycho Social 9Values Grand tour Ask a respondent to imagine him herself in an actual usage experience Walk through the experience with every detail Probe to get meanings at higher levels of hierarchy Variation Critical Incident Technique Metaphor elicitation Laddering Why Why Why 9 Terminal values Chapter 7 Methods of observational research Personal Audit Ethnographic Anthropology Highly trained people spend long periods of 0 time with the people to understand them Content Analysis Sampling Finding irregularities in data 90 of data is o unstructured Text analytics Text mining Categorizes what people are saying 0 900 response example international students 5 Trace Analysis Cookies Mechanical Observation Direct iarticiiation vs Not Instant Response Focus Groups People metersquot cognitive mediated Footfall Analysis Cameras sensors where people are using heat map Eye Tracking GSR Galvanic skin response Arousal level limited No fMRI Blood ow in brain o Critisisms Unethical Gimmick Artificial Costly Facial Coding Emotional reactions are crosscultural faces move the same way for emotions 0 3D Coding tells


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