What are the three roles of marketing?
What is descriptive in the roles of marketing?
Gathering factual statements, example what do consumers think about products.
What is diagnostic in the roles of marketing?
Tries to answer questions like "why" example why do consumers like/dislike our product?
What is predictive in the roles of marketing?
What if we would change package design/pricing/something else?
What is the basic structure of a marketing research project?
- Identify and formulate the problem/opportunity
- plan research design and gather secondary data,
- specify the sampling procedures,
- prepare and present the report,
- analyze the data,
- collected the data,
What is the difference between secondary and primary data?
Secondary data already available, collected for another purpose. Where as primary data is data collected specifically for the current project.
What are strengths and weaknesses for primary data?
- Designed to provide answers to specific research questions,
- as a research designer, you can influence quality,
- done in-house or by research firm that offers tailor-made studies.
- may take time before you get final results,
- generally expensive
What are strengths and weaknesses for secondary data?
- already available,
- both from inside and outside sources.
- may help figuring out how to formulate research problem, but often does not answer specific questions,
- quality may be difficult to judge.
What are for primary data collection methods?
- Survey research,
- observation research,
- ethnographic research,
What do questions need to be in a questionnaire design?
- Clear and Concise
- Specific (avoid combining two questions in one)
In the questionnaire designed what are question alternatives?
- Open Ended
- Closed Ended
- Scaled Response
What are focus groups?
Group interview that captures consumer interaction.
What are benefits to focus groups?
- Provides detailed information
- Good for brain storming
- learn how consumers see new products
what are negatives to Focus Groups
- Results may not be very representative
- There could be dominating participants that skew the results.
What is observation research?
The systematic process of recording the behavioral patterns of people, objects, and Occurrences without questioning them.
What is Neuromarketing?
Observing subtle reactions to stimuli (such as brand names) in brain waves.
Study of human behavior in its natural context.
What are experiments?
A controlled study in which variables of interest are changed while all others are held constant to estimate the effect of the target variable.
What is the difference between probability and non probability sample?
Pro, we known the probability of a person being included in sample, and allows for advance statistical methods.
Non- is easier to get and results will not be entirely representative.