| The systematic process of planning, collecting, analyzing, and communicating information that is relevant to making better marketing decisions. | Define Marketing Research. |
| Situation analysis, strategy development, marketing plan development, monitoring the performance of plans following implementation. | Marketing Research is Important to What four activities? |
| Economic environment, tech developments, social/buying changes, legal/political, rate of market growth, buyer behavior, brand loyalty, competitive behavior, market share trends, size of market and potential market. | Give up to Ten Examples of Situation Analysis Examinations |
| What business should we be in, how will we compete, what are the goals for the business. | What Questions Should Strategy Development Answer? |
| Focuses on how the elements of the marketing mix can be most effectively used. | What Role Does Marketing Plan Development play in Market Research? |
| Monitoring performance of plans following implementation may require the collection of either qualitative or quantitative information. | Monitoring the Performance in Market Research Requires 2 types of Information? |
| Designed to yield reliable and objective answers to specific marketing questions. | What is the Primary Function of the Marketing Research Process? |
| 1. Define the research objective, 2. Determine Research Type, 3. Determine Research Approach, 4. Select Data Collection Method, 5. Analyze Results, 6. Report the Findings. | Name the Six Steps to the Marketing Research Process |
| Exploratory, Descriptive, Causal | What are the Three Research Types in the Marketing Research Process |
| Identify problems or hypotheses | What is Exploratory Research? |
| Information about existing market conditions | What is Descriptive Research? |
| Identify cause and effect relationships | What is Causal Research? |
| Qualitative and Quantitative. | What are the two research approaches used in the Marketing Research Process? |
| Observation, in-depth interviews, focus groups | What is Qualitative Research Approach? |
| Experiments, questionnaires | What is Quantitative Research Approach? |
| Mail, telephone, personal interviews. | What are the Data Collection Methods in Research Process? |
| Specifices the plan for collectin gand analyzing data. It identifies data to be collected, data-gathering method to be used, population to be studied. | What is the Research Design? |
| Process of gathering data from a selected subgroup chosen from the population of interest. | What is Sampling? |
| Probability select persons from population at random; non-probability are nonrandom samples. | What is Probability and Non-Probability Samples? |
| Larger sample sizes yield more reliable results but are also more expensive than smaller samples. | What are the characteristics of Sample Size? |
| Primary is collected specifically for current study. Secondary is old data collected for reasons not related to present study. | What is Primary V Secondary Data? |
| SEE PHYSICAL FLASHCARD. | Draw Characteristics of Primary V Secondary Data Graph |
| Means of systematically acquiring information from individuals by communicating directly with them. | What is Survey Research |
| In-Person data collection procedure in which the interviewer meets with 5-10 persons at the same time. | What is a Focus Group? |
| SEE PHYSICAL FLASHCARD. | Draw Characteristics of In-Person, Mail, and Phone Surveys Graph |
| Unobtrusive data collection procedure in which subjects' behavior is observed without their knowledge. Pro: Behavior not influenced. Con: Attitudes cannot be read. | What is Observation in Survey Research? Pros / Cons? |
| Compares the impact of marketing variables on individuals' responses in a controlled setting. Pro: Can identify cause-effect. Con: High costs/laboratory settings. | What is Experimental Research in Survey Research? Pros / Cons? |
| Technique that utilizes computer-based programs to assess the impact of alternative marketing strategies. Pro: Direct contact w/consumer unnecessary. Math models simulate effects from both controllable/uncontrollable factors. | What is Simulation in Survey Research? Pros |
| Is made up of the people, equiptment, and procedures to gather, sort, analyze, evaluate, and distribute accurate information to marketing decision markers. | What is a Marketing Information System (MIS)? |
| Forcasting- Estimating the demand for a brand or product or category. What will happen in the future by Qualitative or Quantitative techniques. | What is a highly specialized function of a MIS? |
| Internal Expert opinion - often internal sales person, Consulting panels of independent 3rd party experts, Decision Trees and Scenario Building (probability models based on opinion) | What are the Qualitative techniques used in forecasting? |
| Forcasts based on the analysis of historical sales trend data, math models incorporate multiple decision variables, multiple regression analysis, Econometic modeling. | What are the Quantitative Forecasting Methods? |
| Short: Month or Quarter, Medium: Annually, Long: Five year Period | How long is Short-Term / Medium-Term / Long-Term Forecasts? |
