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17 Cards in this Set
- Front
- Back
Strategic Implications of Marketing Research
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To reduce risk; development of effective marketing strategies; decrease high failure rate of new products and businesses
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Difficulties faced by market researchers
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consumers knowledge base; consumers willingness to participate; match between intentions and behaviors
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Marketing Research Process Steps 1-3
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1-Defining Objects
2-Designing the research project 3-Data Collection |
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Marketing Research Process 4-5
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4-Analyzing data
5-Presenting results |
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Step 1 - Defining the Problem
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-problem written down, agreed upon, and distributed to all concerned parties
-seeking to discover the cause of a problem by discussing it with informed internal and external sources |
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Step 2-The Research Plan
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-research design: a series of decisions that comprise a master plan for conducting marketing research
-hypothesis: a tentative explanation for some specific event |
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Step 3-Relevant Information - Collecting Data
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-secondary data is previously published or compiled sources
-syndicated data can be obtained through research firms -primary data is data collected for the first time specifically for a marketing research study |
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Population
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total group that researchers want to study
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Census
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a collection of data on all possible members of a population or universe
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Sampling
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the process of selecting survey respondents or other research participants
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Probability samples
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-simple random
-stratified -clusters |
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Non-probability samples
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-convenience
-quota |
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Types of Research
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-exploratory
-conclusive |
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Exploratory
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-observation
-interviews -focus groups -projective techniques |
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Conclusive
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-casual
-experimental -surveys -panel data -scanner data |
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Step 4-Analyzing Data
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Converting data into information to explain, predict and/or evaluate a particular situation
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Step 5-Interpreting and Presenting Information
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-format to aid and allow effective judgments
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