Koofers

quiz 1 - Flashcards

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Class:MKTG 4154 - Marketing Research
Subject:Marketing
University:Virginia Polytechnic Institute And State University
Term:Fall 2014
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Marketing organizational function and set of processes for creating, communicating and delivering value to customers, and for managing customer relationships in ways that benefit the organization and its stakeholders
Marketing Concept business philosophy that key to achieving organizational goals consists of being more effective than competitors in creating, delivering, and communicating customer value to chosen markets
Marketing Strategy selecting segment of the market as the company’s target market and designing the proper “mix” of the product/service, price, promotion, and distribution system to meet wants and needs of target market
Marketing Research

process of designing, gathering, analyzing, and reporting information used to solve specific marketing problems

Purpose: to link the consumer to the marketer by providing information that can be used in making marketing 

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Market Research

process used to define the size, location, and/or makeup of market for product/service

uses of marketing research
Identify marketing opportunities and problems
Generate, refine, and evaluate potential marketing actions
Monitor marketing performance
Improve marketing as a process
Who conducts marketing research internal supplies
external suppliers
steps in marketing research

1 Establish Need

2 Define Problem

3 Research Objectives

4 Determine Design

5 Identify Information Sources

6 Decide Data Collection Method

7 Design Questionnaire

8 Determine Sample Plan & Size

9 Collect Data

10 Analyze Data

11 Write and Present Report

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when is marketing research not needed
(  the information is already available  )
(  decisions must be made now)
(  we can’t afford research)
(  costs outweight the value of marketing research)
symptom

signals that alert us to the problem.

research objectives
state what the researchers must do.
market decision problems
nAction oriented
nWant answers
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marketing research questions
nInformation oriented
nAsk questions
exploratory research

collecting information in an unstructured and informal manner.

Ambiguous Problem: Our sales are declining and we do not know why.
Descriptive research

set of methods and procedures describing marketing variables.

Aware of Problem: What kinds of people are buying our products? / Who buys our competitorsproducts?
casual research

allows isolation of causes and effects.

Problem Clearly Defined: Will buyers purchase more of our product in a new package?
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primary information
information collected specifically for the problem at hand
Observation, Surveys, In-Depth Interview, Focus Groups, Panels, Experiments, Test Markets
-Crm and data mining
secondary information
information already collected. It is relatively easy to access, 
-internet, published/standardized data source
sample plan
refers to the process used to select units to be included in the sample   (representativeness)
sample size
refers to determining how many elements of the population should be included in the sample (accuracy )
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research design set of advanced decisions that make up the master plan specifying the methods and procedures for collecting and analyzing the needed information
standardized data source
Standardized data are data prepared by marketing research firms (for multiple users).
Usually, they are of (higher quality) than other types of secondary data.
applications of standardized data
nMeasuring product sales and market shares
nMeasuring advertisement exposures and effectiveness
nMeasuring promotion effectiveness
nMarket Segmentation
nMeasuring Consumer Attitudes and Opinion Polls
n
cross sectional studies
measure units from a sample of the population at only one point in time).
-sample surveys
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longitudinal studies
(repeated measure) the (same) sample units of a population (over time).
independent varables
Values manipulated by researcher
-X
dependent variables
Measures of effect
-0
extraneous variables variables that may affect DV
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E Experimental effect
R
subjects to experimental and   control groups
pretest measurement of the dependent variable taken prior to changing the independent variable
postest measuring the dependent variable (taken after) changing the independent variable
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internal validity
measures the extent to which the change in the dependent variable is actually due to (the change in the independent variable).
external validity
extent that relationship between independent and dependent variables during experiment is (generalized to the real world)
lab experiments
The measures of the dependent variable taken in a contrived, artificial setting for purpose of (contrived) the many possible (extraneous) variables that may affect the dependent variable.
field experiments
The measurements of dependent variable made on test units in (their natural setting).
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 Marketingorganizational function and set of processes for creating, communicating and delivering value to customers, and for managing customer relationships in ways that benefit the organization and its stakeholders
 Marketing Conceptbusiness philosophy that key to achieving organizational goals consists of being more effective than competitors in creating, delivering, and communicating customer value to chosen markets
 Marketing Strategyselecting segment of the market as the company’s target market and designing the proper “mix” of the product/service, price, promotion, and distribution system to meet wants and needs of target market
 Marketing Research

process of designing, gathering, analyzing, and reporting information used to solve specific marketing problems

Purpose: to link the consumer to the marketer by providing information that can be used in making marketing 

 Market Research

process used to define the size, location, and/or makeup of market for product/service

 uses of marketing research
Identify marketing opportunities and problems
Generate, refine, and evaluate potential marketing actions
Monitor marketing performance
Improve marketing as a process
 Who conducts marketing researchinternal supplies
external suppliers
 steps in marketing research

1 Establish Need

2 Define Problem

3 Research Objectives

4 Determine Design

5 Identify Information Sources

6 Decide Data Collection Method

7 Design Questionnaire

8 Determine Sample Plan & Size

9 Collect Data

10 Analyze Data

11 Write and Present Report

 when is marketing research not needed
(  the information is already available  )
(  decisions must be made now)
(  we can’t afford research)
(  costs outweight the value of marketing research)
 symptom

signals that alert us to the problem.

 research objectives
state what the researchers must do.
 market decision problems
nAction oriented
nWant answers
 marketing research questions
nInformation oriented
nAsk questions
 exploratory research

collecting information in an unstructured and informal manner.

Ambiguous Problem: Our sales are declining and we do not know why.
 Descriptive research

set of methods and procedures describing marketing variables.

Aware of Problem: What kinds of people are buying our products? / Who buys our competitorsproducts?
 casual research

allows isolation of causes and effects.

Problem Clearly Defined: Will buyers purchase more of our product in a new package?
 primary information
information collected specifically for the problem at hand
Observation, Surveys, In-Depth Interview, Focus Groups, Panels, Experiments, Test Markets
-Crm and data mining
 secondary information
information already collected. It is relatively easy to access, 
-internet, published/standardized data source
 sample plan
refers to the process used to select units to be included in the sample   (representativeness)
 sample size
refers to determining how many elements of the population should be included in the sample (accuracy )
 research designset of advanced decisions that make up the master plan specifying the methods and procedures for collecting and analyzing the needed information
 standardized data source
Standardized data are data prepared by marketing research firms (for multiple users).
Usually, they are of (higher quality) than other types of secondary data.
 applications of standardized data
nMeasuring product sales and market shares
nMeasuring advertisement exposures and effectiveness
nMeasuring promotion effectiveness
nMarket Segmentation
nMeasuring Consumer Attitudes and Opinion Polls
n
 cross sectional studies
measure units from a sample of the population at only one point in time).
-sample surveys
 longitudinal studies
(repeated measure) the (same) sample units of a population (over time).
 independent varables
Values manipulated by researcher
-X
 dependent variables
Measures of effect
-0
 extraneous variablesvariables that may affect DV
 EExperimental effect
 R
subjects to experimental and   control groups
 pretestmeasurement of the dependent variable taken prior to changing the independent variable
 postestmeasuring the dependent variable (taken after) changing the independent variable
 internal validity
measures the extent to which the change in the dependent variable is actually due to (the change in the independent variable).
 external validity
extent that relationship between independent and dependent variables during experiment is (generalized to the real world)
 lab experiments
The measures of the dependent variable taken in a contrived, artificial setting for purpose of (contrived) the many possible (extraneous) variables that may affect the dependent variable.
 field experiments
The measurements of dependent variable made on test units in (their natural setting).
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