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by: Ms. Beulah Walter


Ms. Beulah Walter
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Y. Wu

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Y. Wu
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This 33 page Class Notes was uploaded by Ms. Beulah Walter on Tuesday October 13, 2015. The Class Notes belongs to MKT 3401 at Louisiana State University taught by Y. Wu in Fall. Since its upload, it has received 14 views. For similar materials see /class/222524/mkt-3401-louisiana-state-university in Marketing at Louisiana State University.

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Date Created: 10/13/15
MARKETING TEST 1 0 Marketing 0 The activity set of instructions and process for creating communicating delivering and exchanging offers that have value for customers clients partners and society I Products I Distribution marketing channel I Promotion communication ads PR I Pricing exchange of value agreement 0 Marketing stresses customer satisfaction 0 Exchange 0 Conditions for exchange you need I 1 At least TWO parties I 2 Something of VALUE I 3 Communication and Delivery I 4 Freedom to ACCEPT or REJECT NEGOTIATION I 5 Desire to deal with the other party AGREEMENT 0 Marketing creates ensures and facilitates the accomplishment of exchange 0 Marketing Management Philosophies 0 Production I Focus is on internal capabilities of the rm Field of Dreams 9 Ifyou build it then they Will come 0 Does not consider if products meet market needs 0 Sales I Focus is on the aggressive sales techniques and the belief that high sales results in high pro ts I Selling collecting money 0 Disregards market needs and consumer demand 0 Market I Focus is on satisfying customer needs and wants while meeting objectives I By focusing on customer needs and wants you can distinguish your product from competitors products 0 Achieves rms longterm goals 0 Societal I Focus is on satisfying customer needs and wants while enhancing individual and society s well beings I How can we bene t society through marketing 0 EX less toxic products more durable products reusable and recyclable products 0 Ethics 0 The morals principles or values that generally govern the conduct of an individual I Morals o The rules people develop as a result of cultural values and norms o Morals involve good and bad as well as deviant behavior 0 Unwritten rules governing interactions I Sharing resources I Honoring contracts I Waiting in line 0 Ethical Development Levels 0 Preconventional Morality more childlike I Actions based on what will be punished or rewarded I Selfcentered calculating sel sh 0 Conventional Morality I What society expects I Concerned over legality and the opinion of others 0 Postconventional Morality I Concern about how you judge yourself I Concern if actions are right in the long run I Obey active standard of society but you re willing to sacri ce time to do the right things 0 Ethical Decision Making o In uential factors I Extent of problems I Top MGMT actions 0 High managers have more power to make decisions so they need morality without it they will make the wrong decisions The company s standard of morality determines the company s action Code of Ethics a guideline to help marketing managers and other employees make better decisions Potential consequences Social consensus Probability of harm I Time until consequences I Number of people affected 0 Creating Ethical Guidelines 0 Helps identify acceptable business practices 0 Helps control behavior internally o Avoids confusion in decision making 0 Facilitates discussion about right and wrong 0 Sustainability 0 Socially responsible companies will outperform their peers o It is in the business best interest to find ways to attack society s ills 0 Corporate Social Responsibility 0 For a company to survive in the long term they have to be responsible for society 0 Consumers judge companies based on their own ethics values morals so if the company s action goes against the consumers beliefs then the consumers won t buy those products 0 Green Marketing 0 More prevalent with increase in environmental awareness o Environmentally aware customers pay more for products 0 Companies must educate customers of environmental bene ts 0 External Marketing Environment 0 Uncontrollable 0 Target Market I The group MOST LIKELY to buy your product 0 Changes as consumers age 0 External elements change their wants and needs xt nal nvironment InternaF g trollat ggb Marketplace 5 e t Environmenf a 7 w Scanning 0 Social Factors I Valuesmorals attitudes your ideas lifestyles the way you choose to live 0 Not tangible I Social factors determine 0 Products purchased 0 Prices paid for products o EX people pay higher prices for higher quality goods which means they value high quality 0 Effectiveness of promotions o How when and where people purchase Core American Values 0 Selfsufficiency o Upward mobility social climbing 0 Work ethic Conformity The in uence of values on buying habits ranked characteristics of product quality 0 Reliability 0 Durability 0 Easy maintenance 0 Ease of use 0 Trusted brand name 0 Low price Component Lifestyles o The practice of choosing goods and services that meet one s diverse needs and interests rather than conforming to a single traditional lifestyle 0 Today s consumers want multifunctional products 0 Lifestyle is no longer defined by occupation I Role of families and working women 0 Dual income families increased purchase power Women now have the purchase power in the family Products that used to be marketed to men are now marketed to women 0 Women are expected to purchase bulk of technology products 0 Demographic Factors I Demographics 0 The study of people s vital statistics such as age race ethnicity and location 0 Relate to buyer behavior uncontrollable I Generations o 1 Baby Boomers 19461964 0 Grandparents I Retired with money to spend I Focused on nances I Already developed preference for brands so they re stable with products I Will try technology I Four segments of baby boomers o 1 Looking for a balance 0 2 Con dent and living well 0 3 At ease o 4 Overwhelmed I Population of 77 million the largest demographic segment 0 2 Generation X 19651978 0 Parents I Many responsibilities 0 Job kids nances etc I Higher income 0 They have more money to spend but they also have more to pay for cars houses insurance schooling for kids etc I Savvy and cynical consumers I More protective and involved with kids I Population of 40 million 0 3 Generation Y 19791994 0 ME I Family oriented I Street smart I Diverse I Young single in school 0 Only have to worry about themselves I Focused on entertainment I Impatient opinionated connected I Population of 73 million 0 4 Tweens 814 year olds 0 Technology savvy 0 Open to change 0 Big purchasing power in uence over parents small jobs 0 Easily in uenced 0 Population of 20 million 0 IMPORTANT TO KNOW THE SIZE OF GENERATIONS o The size helps you know your potential market 0 The sixe helps distinguish pro table segments from nonprofitable segments I Diff sizes different potential pro ts I Purchasing power is different I Ethnic Markets 0 People with different environment culture background means people will buy different products 0 Hispanics I Brand loyal to Hispanic products I Diversity in population I Family orented o Blacks I Growing purchase power I Individualistic and family oriented o Asians I Younger welleducated higher average income I Grouporiented 0 Ethnic and Cultural diversity 0 Multiculturalism I Occurs when all major ethnic groups in an area are roughly equally represented city parish census tract 0 Economic Factors I Distribution of consumer income 0 How much money you own directly determines what products you will buy and where you will buy them 0 Disposable income 0 the money you have left over after bills savings 0 money you can spend on nonessentials income minus tax 0 O the higher your disposable income is the more luxury goods you can buy 0 income level the cost of living determines how many products you can buy 0 education is primary determinant of ea1ning potential I In ation o Decrease in the value of money 0 Products become more expensive 0 Raw materials to make products are more expensive so the products are more expensive I To keep the same pro t companies must raise the price of products and services I Recession I As price increases demand decreases 0 Bad cycle when no one spends money 0 Strategies 0 O O O o Technological factors I Basic research Improve existing products and introduce new products Maintain and expand customer service Emphasize top products and promote value Coupons 0 Pure research that aims to con rm an existing theory or to learn more about a concept 0 O Expensive Be aware of competitors I Applied research 0 An attempt to develop new or improved products 0 Research used to develop products for customers 0 Use knowledge in basic research to develop product for consumer I Both research leads to technological advances and the marketing mix 0 Political and Legal factors I Laws protect new technology society businesses and consumers o Regulate competitive environment pricing and advertising 0 Ex regulate competitive environment 0 O O O O Sherman act Clayton act Federal trade commission act Cellerkefauver antimerger act HartScottrodino act 0 Ex regulate pricing practices 0 Robinsonpatman act o EX control false advertising 0 Wheeler Lea Act I Regulatory agencies 0 Consumer product safety commission 0 Protects consumer safety in and around their houses 0 Federal trade commission 0 Prevents unfair methods of competition in commerce 0 Powers of the FTC Ceaseanddesist orders Consent decree Affirmative disclosure Corrective advertising Restitution counteradvertising 0 Food and Drug Administration 0 Enforces safety regulations for food and drug products I Consumer Privacy 0 Government actions 0 GrammLeachBliley Act 0 Health Insurance Portability and Accountability act HIPPA o Califomia s notice of security breach law I Political and legal environment of marketing I e 9 I s l a 1 i o n Marketing Mix mmmnzmcb 0 Competitive Factors 39 Michael Porter s five forces model for industry analysis for competitive rivalry within an industry 0 l Threats of new entrants o How will a new company with a new product affect consumers Market 0 What will companies do to compete with new product 0 How willconsumeis react 0 2 Threat of substitute products 0 Some new products provide the same service as products within another industry I Cellphones becoming substitutes for laptops I The ipad o 3 Supplier power 0 If supplier can provide resources that no one else has then the supplier has the power to determine the price of the resources 0 4 Customer power 0 Customers can accept or reject offers 0 If the price is too high they can switch brands 0 Consumer Behavior 0 HOW consumers make purchase decisions 0 HOW consumers use and dispose of products 0 Consumer DecisionMaking Process 0 A fivestep process used by consumers when buying goods or services cultural social individual psychological factors affect all steps I 1 Need Recognition o The result of an imbalance between your actual state and desired state present state v preferred state 0 Must have two parties involved and one party must have something the other party wants 0 Caused by both internal stimuli ex hunger and external stimuli ex ads that affect the five senses 0 Needs turn into wants 0 Recognition of unfulfilled wants 0 When a current product isn t working properly 0 When the consumer runs out of a product 0 When another product seems superior to the one you currently have I 2 Information Search 0 Internal information search 0 Recall information from memory 0 External information search 0 Seek information in the outside environment I Product in uences how much time is spent searching for information 0 Need less information for products when there s less risk and you have more knowledge more product experience low interest and confidence 0 Need more information for products that are high risk that you have less experience with a high interest in and a lack of confidence with I 3 Evaluation of Alternatives 0 Evoked set 0 Groups of brands resulting from search information from which a buyer can choose 0 Steps to purchase I Evoked set 0 l Analyze product attributes o 2 Use of cutoff criteria price 0 3 Rank attributes by importance I PURCHASE 0 Ex LSU 9 tailgating 9 Beer 0 Evoked set bud light miller light abita coors light blue moon etc I 4 Purchase 0 Determines which attributes are most important in in uencing a consumer s choice 0 What where why competition how much I 5 Post Purchase Behavior 0 Satisfaction 0 Always evaluate level of satisfaction 0 Cognitive Dissonance 0 Inner tension that consumers experience after recognizing an inconsistency between behavior and values of opinions I Buying products that aren t satisfying goes against consumer beliefs 0 Reduce dissonance by 0 Seeking information that reinforces positives about product justification o Avoiding information that contradicts purchase decision consumer doubt o Revoking original decision and returing the product 0 Marketing can minimize dissonance thorugh 0 Effective communication 0 Followups o Guarantees 0 Walranties 0 Consumer Buying Decisions and Consumer Involvement 0 Five factors in uencing decisions I 1 Level of consumer involvement 0 Determining factors 0 Previous experience 0 Interest 0 Perceived risk of negative consequences 0 Situation 0 Social visibility 0 Marketing implications of involvement 0 High involvement purchases require extensive and informative promotion to target market 0 Low involvement purchases require instore promotions eyecatching package design and good displays among coupons discounts and deals I 2 Length of time to make decision I 3 Cost of good or service I 4 Degree of information search I 5 Number of alternatives considered 0 Routine response behavior less involvement I Little involvement in selection process I Frequently purchased low cost goods I May stick with one brand I Buy first evaluate later I Quick decision I EX gum coffee milk 0 Limited Decision making I Low levels of involvement I Low to moderate cost goods I Evaluation of a few alterative brands I Short to moderate time to decide I EX groceries 0 Extensive decision making more involvement I High levels of involvement I High cost goods I Evaluation of many brands I Long time to decide I May experience cognitive dissonance I EX car laptop Rollllns l mlull nu ma lt1 Involveman Inlolmmlnn Snitch low Iowm mu svals Shun shun lo mnderale low low In mndarala Internal nnly mns y lnlemal Number of Altematlves una few o Facwrs m uencmgbuymg behavlor CULTURAL blah lung high MIEHIHI and external Set ofvaluesnorms that shape human behavl0r and products of that behavlor and are Lransmltted from one generatlon to the nail Values languages myths customs nluals laws malenal amfaols o Value 15 an endunngbellethaL a speclflcmode ofconduct ls personally or solcally preferred Success matenansm freedom progess youth oapllallsm Culture 15 persuaslve functlonal leameol dyamlc l Sub culture o Homogeneous group ofpeople who share elemean of ovaall culture as well as unlque elemean oflelr own culmre l Soclal class 0 Group of people in society Who are nearly equal in status of community esteem or who regulary socialize among themselves and who share behavioral norms 0 Based on occupation income education wealth o Helps determine which medium to use for ads and the best distribution of products I SOCIAL o How you interact With people 0 Reference group 0 Direct facetoface communication I Primary family friends coworkers 0 Informal information exchange I Secondary contact doesn t happen often 0 Formal information exchange 0 Indirect no direct contact I Aspirational the group you want to be I Nonaspirational the group you want nothing to do with 0 Reference groups serve as information sources and in uence perceptions I They affect individual s aspiration levels I Their norms either constrain or stimulate consumer behavior 0 Opinion leaders 0 Very social knowledgable about products 0 Identify them and let them try product I Teens I Celebrity 0 Family 0 Family gives people nroms of culturesociety from birth 0 Initiators Consumer Have need m have sumeumg a ln umca39 mmde mrmmauun a Chrisimas 939 minivan candy bicycle small toys children39s camputers movies sports events fasHoud swim club restaurant membership acmions Individual 0 Gender a ge u was s Psychulugml in uences cepuun 0 Process by which people select organize and interpret stimuli into a meaningful and coherent picture I Selective exposure consumer only notices certain stimuli I Selective distortion consumer distorts information that con icts with feelings or beliefs I Selective retention consumer remembers only that information that supports their beliefs 0 Marketing implications I Important attributes price brand names quality and reliability threshold product changes foreign perception 0 Motivation 0 Maslow s hierarchy of needs people are motivated by needs I 1 Physiological needs hunger thirst I 2 Safety needs security protection I 3 Social needs sense of belonging love I 4 Esteem needs selfesteem recognition status I 5 SelfAcutalization needs self development self realization do what you love in life 0 Learning 0 Experimental I An experience changes behavior I Stimulus generalization o A form of learning that occurs when one response is extended to a second stimulus similar to the first 0 You generalize something to another thing even though the situation is different I EX typewriting vs computer typing EX the way you send snail mail to the way you send email 0 Conceptual I Not learned through direct experience I Stimulus discrimination o A learned ability to differentiate among similar products 0 EX coke V Pepsi 0 Once marketers understand this then they can set themselves apart from competitors 0 Beliefs and attitudes o Belief I An organized pattern of knowledge that an individual holds as true about his or her world 0 Attitude I A learned tendency to respond consistently toward a given object I Changing attitudes 0 Change beliefs about the brand s attributes 0 Change the relative importance of the beliefs 0 Add new beliefs 0 Market Segmentation o A market is I People or organizations with needs or wants and with the ability and the willingnessto buy I Exchange 0 Market segment I A subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs 0 Market segmentation I The process of dividing a market into meaningful relatively similar identi able segments or groups I Selecting customers to serve o Differentiate the market offering to create superior customer value 0 Targeting 7 select the segment or segments to enter 0 Positioning 7 position the market offering in the minds of customers I Importance of market segmentation 0 Markets have a variety of product needs and preferences 0 Marketers can better define customer needs through segmentation 0 Decision makers can define objectives and allocate resources more accurately I Criteria 0 Substantiality 0 Segment must be large enough to warrant a special marketing mix 0 Identifiability and measurability o Segments must be identifiable and their size must be measurable 0 Accessibility 0 Members of targeted segments must be reachable With marketing mix 0 Responsiveness 0 Unless segment responds to a marketing miX differently no separate treatment is needed I Bases characteristics of individuals groups or organizations used to divide the total market into segments 0 Geography 0 Region of the country or world I Bene ts of regional segmentation 0 New ways to generate sales in sluggish and competitive markets Scanner data allow assessment of best selling brands in region 0 Regional brands appeal to local preferences 0 Quicker reaction to competition 0 Market size I Target big city with larger population Target small city with smaller population 0 EX AppleBee s targets small towns with less than 50000 people because there s no condensation no other chains and the people go there and it becomes popular restaurant where families go 0 Market density I How many people in location I Some cities have large population but the city is small 0 EX new Orleans 0 EX Tokyo 0 High density city so people need space I Vending machines are popular there because they don t take up much space 0 Climate I North south east west coast inland etc 0 Demographics 0 Age H Usual Haw Recvcled llow Tm monal How Velma ml Velma divnmed wllhum cthmn I mm muniud 39 w mlom milth o Genda o Income o ELhmcbackground Largeslemmemarkelsare Hlspanlcs Blacks o Famllyllfe cycle stages m llfe Age 39 Marlmlstatus Dlvorcedpeoplebehavedlffanmtlthan mamed people or slngle ppl Chlldren People We chlldrm behave dlffaently Lhan pp Wlmoul chlldren Mludls aged lvamed wilhaut children Mmuleaqea anlea wrmom cmlmu WW Mama 4 mm 39m mquot 4 DNA 4 may mm may mar adk mlan uh a Midulnrngad mm mm mm 4 with mumquot chlldrsn e lldlen Psychogaphlcs 7 what Lyp es ofneeds motlvate you7 o personallty o motives o lifestyles I how time is spent I importance of things around them I beliefs I socioeconomic characteristics 0 geodemographics I segmenting potential customers into neighborhood lifestyle categories I combines geographic demographic and lifestyle segmentation 0 Benefits soughtbenefit segmentation o The process of grouping customers into market segments according to the benefits they seek from the product 0 Usage rate 0 Dividing a market by the amount of product bought or consumed I Active users potential users nonusers first time users I Use different marketing strategy between happy users and light users 0 8020 principle I A principle that holds 20 percent of all customers generate 80 percent of demand I Small percent of customers generate majority of company s revenue 0 Steps in segmenting a market 0 1 Select market for study 0 2 Choose bases for segmentation o 3 Select descriptors o 4 Pro le and analyze segments o 5 Select target markets I Target market 0 A group of people or organizations for which an organization designs implements and maintains a marketing miX intended to meet the needs of that group resulting in mutually satisfying exchanges o Substantial identi able amp measurable accessible responsive I Strategies for selecting target markets 0 Undifferentiated strategy 0 A marketing approach that views the market as one big market with no individual segments and thus requires a single marketing mix I No segment for me my product is sold to everyone 0 Advantage I Potential savings on production and marketing costs I One product one marketing strategy 0 Disadvantages I Unimaginative product offerings I Company more susceptible to competition 0 Concentrated o A strategy used to select one segment of a market for targeting marketing efforts I Ionly choose to serve one segment I All resources are focused on one group of consumers o Advantage I Concentration of resources I Meets narrowly defined segment I Small firms can compete I Strong positioning o Disadvantages I Segments too small or changing o EX if people start to think fried chicken is too unhealthy then the smaller companies will lose out to the bigger companies I Large competitors may market to niche segment 0 Multisegment o A strategy that chooses two or more wellde ned market segments and develops a distinct marketing miX for each I Consumers are different but I choose more than 2 groups and target diff segments with diff products 0 EX Gap Inc gap banana republic old navy piperline athlete 0 They have diff brand names for speci c segment every brand serves different customers 0 EX Walmart 0 Uses low price appeal to both people who need low prices and people who like low prices but don t necessarily need to shop there 0 Advantage I Greater nancial success I Economies of scale 0 Disadvantage I High costs I Cannibalization o If you provide two diff products for one segment then the products become competitors o EX if gap segmentation is not correct then old navy and gap consumers become the same and the stores will compete o 6 Design implement maintain marketing mix 0 OnetoOne marketing 0 An individualized marketing method that utilizes customer information to build longterm personalized and pro table relationshisp with each consumer I Individuals informationintensive longterm profitable o If we separate groups we can understand them better 0 Now we have to develop different products for them and it will increase the cost of production 0 Has goal of I Cost reduction I Customer retention I Increased revenue I Customer loyalty 0 Trends I Onesizefitsall marketing no longer effective Direct and personal marketing will grow to meet needs of busy consumers Consumers will be loyal to companies that have earned 7 and reinforced 7 their loyalty o EX MampMs Mass media approaches will decline as technology allows better customer tracking 0 Positioning 0 Developing a specific marketing mix to in uence potential customers overall perception of a brand product line or organization in general I How to choose 1 or 2 or 3 segments to satisfy 0 Product Differentiation I A positioning strategy that some rms use to distinguish their products from those of competitors I Distinctions can be real or perceived EX Subway eat fresh EX Gap iconic American style banana accessible luxury old navy great fashion great prices piperline fresh online shop athlete be strong be beautiful 0 Perceptual Mapping I A means of displaying the location of products brands or groups of products in consumers minds Identify what competitors position is and try to find distinguishable position from them I Positioning bases 0 Repositioning Attribute Price and quality Use or application Product user Product class Competitor Emotion I Changing consumers perceptions of brand in relation to competing brands Change product and change market OR change imageconcept in customers mind 0 EX Cadillac has repositioned itself on map I It used to be mapped for older wealther consumers I But with new edgier ads it is repositioned in the younger but still expensive bracket 0 Effective positioning I Assess the positions occupied by competing products I Determine the dimensions underlying these positions I Choose a market position where marketing efforts will have the greatest impact 0 Marketing Research 0 The process of planning collecting and analyzing data relevant to a marketing decision I Studies products ads uses awareness prices familiarity packages new concepts names and logos traffic patterns services wants needs buying habits colors politics 0 Role of Marketing research I Descriptive o Gathering and presenting facts I Diagnostic o Explaining data I Predictive 0 what ifwe make this decision 0 Management uses of marketing research I Improve quality of decision making I Trace problems I Focus on keeping existing customers I Understand marketplace and marketplace trends I Gauge value of goods and services and the level of customer satisfaction I 1 Define Problem 0 Determining what information is needed and how that information can be obtained effectively and efficiently 0 Which research questions must be answered How and when will data be gathered How will the data be analyzed 0 Objective I The specific information needed to solve a marketing problem 0 Management decision problem I A broadbased problem that requires marketing research in order for managers to take proper action I 2 Plan Design 0 Primary Data 7 information used for the first time 0 Collect data yourself I Answers speci c research question data are current source of data is known secrecy can be maintained I Costly o Piggybacking 0 To save costs put two research questions together in one experiment 0 Survey research I The most popular technique for gathering primary data in which a researcher interacts with people to obtain facts opinions and attitudes In home interviews mall intercept interviews telephone interviews mail surveys executive interviews focus groups I questionnaire 0 Openended questions encourage prhased answers Closeended questions yes or no Scaled response a closedended question designed to measure the intensity of respondent s answer 0 Likert Scale strongly agree v strongly disagree 0 Clear and concise unbiased 0 Experiment 0 Observation research I People watching people I People watching activity I Machines watching people Video cameras recording behavior Machines watching activity Cameras monitoring traffic ow 0 Ethnographic research I Study of human behavior in natural context 0 Secondary data 0 Internal corporate information government agencies trade and industry associations news media I 3 Specify Sampling Procedure 0 Universepopulation 9 sample 0 Probability sample a sample in which every element in the population has a known statistical likelihood of being selected I Random sample a sample arraged so that every element of the population has an equal chance of being selected Simple random sample 7 everyone has equal change to be in sample group Strati ed sample 7 divide population in diff groups based on demographics every group is different then randomly take some from each group so sample has characteristics of each group Cluster sample 7 cluster whole population and randomly select clusters Systematic sample 7 have speci c interval and choose by interval o NonProbability sample any sample in which little or no attempt is made to get a representative crosssection of the population I Results in bigger error because samples don t represent population I Convenience sample I Judgment sample I Quota sample I Snowball sample 0 Types of errors 0 Measurement error I The error you make when you want the answer to one question but your research answers a different question you asked the wrong question 0 Sampling error I Always will be a sampling error 0 Framing error I Chooses samples from wrong population 0 Random error I Always happens I 4 Collect Data 0 Field service rms 0 Focus group facilities 0 Timing 0 Test product storage 0 Kitchen facilities 0 Retail audits I 5 Analyze Data 0 Mean range 0 Cross tabulation ithe way to analyze relationship between two things I 6 Preparepresent report 0 Conclusion 0 Preference to color price etc I 7 Follow up 0 Any suggestions 0 Impact of the Internet More effective efficient decision making 0 0 Quick responses to customer needs and market shifts 0 Makes followups easier 0 Internet surveys I Good 0 Rapid development realtime reporting 0 Reduced cost 0 Personalized questions and data 0 Improved respondent participation 0 Contact with hard to reach 0 Scannerbased research 0 A system for gathering information from a single group of respondents by continuously monitoring the advertising promotion and pricing theya re exposed to and the things they buy I BehaviorScan I InfoScan 0 Competitive intelligence 0 An intelligence system that helps managers assess their competition and vendors in order to become more efficient and effective competitors 0 Internet ucc filings company sales people suppliers experts media etc


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