The demand for one product or service that is derived from the demand from another product or service.
Is industrial demand inelastic or elastic?
The demand for one product or service that is derived from the demand for another product or service
What is the major difference between the industrial versus consumer market?
The buying center which is a group of people involved in the decision to purchase a product or service
What is necessary to ask to market effectively to the buying center (4 questions?)
Which in the field tools in the buying center are responsible? What is the relative influence of each member? What are each members decision criteria? How does each member of the group perceive our firm, products, or people?
What is organizational buying behavior characterized by?
The number of companies demand variations sales volume, professionalism of the buyer and geographic concentration.
What are the three variations of an industrial buying?
New task, modified rebuy, and straight re-buy.
New task buying?
This is when organizations place a new situation purchase is required. This can be very time-consuming as the company needs together information.
What is modified rebuy?
The buyer sticks to modify or alter the purchase. In this case a company might ask an existing vendor to modify their product
This involves making purchases the product is generated a positive experience and good past evaluations. Usually involve little complexity.
Who are the people in the buying center?
Users, influencers, gatekeepers, deciders, buyers.
What are the five steps to marketing research?
Proper recognition, identification of research, research design, data collection, and analysis and evaluation of results.
What is marketing research?
It is a multistep process gathering of consumer information or data that will help an organization issues of concern to customers
What are the four forms of research objectives?
Exploratory (determine cause of problem), descriptive (attempt to identify new issues or markets, test hypotheses (determine the impact of changes) predictive (organization tries to forecast).
What is primary data?
Information collected to address a specific research question. Consists of qualitative and quantitative data
What is secondary data?
Dated that was previously collected for another purpose.for example admissions information can be a useful source secondary data to address their organizational questions.
What is it called when huge amounts of data are generated and collected and extracted by group practices hospitals and other healthcare organizations?
What is indicated marketing research?
A commercial secondary data that regularly provides information on a particular question or problem area. Anyone can purchase this so it is available to competitors as well.
How can secondary data evaluated? Four criterion…
Is it relevant? Accurate? Current? Impartial?
What are the three research methods that can be employed to collect primary data?
Observational, experimental, survey research
What kind of research is it when consumers are either observed by another individual or through a mechanical device such as a camera?
What is an experiment?
When factors are manipulated to determine a causal relationship. The advantage of experimental research measure the actual effects of one variable.
Because of experimental limitations what is the more common form of experimental research and marketing?
Quasi-experimental design…in which the data gathering is set up similar to a laboratory experiment but the researcher does not have control over all variables. A common example of this is a test market.
Survey research is a third common method for acquiring primary data and can be conducted in what four ways
Telephone interviews, personal interviews, focus group
What is it called when data is collected from all members of the target population
What are the six steps of the sampling process?
Define the population, specify the sampling frame (representing sample population), specifying the sampling unit (contains the elements of the population to be sampled), selection of the sampling method, determine the sample size and specify a sampling plan (which involves specifying how to implement the sampling choices made in the previous five steps).
Any sampling method is dependent on five choices…
Probability versus non-probability, single unit versus cluster of units, stratified verses unstratified, equal unit versus probability, single stage versus multistage
What kind of sampling is it in which the sampling units are selected by chance?
Probability sampling. The advantage is that an object is a measure of the samples reliability can be made.
What are the two basic forms of probability sampling?
Simple random sampling is a process that requires that each units chance of being chosen is known and equal. systematic sampling is similar to the simple random sampling process(example every 20th patient)
What kind of sample is one in which the chance selection procedures are not used?
A non probability sample.
Of all the nonprobability samples what kind of samples and thought the most systematic approach to obtaining a representative sample?
A quota sample. In this the characteristics are believed to relate to a representative sample of the population identified.
What is a single unit versus a cluster sample?
Single unit is that sampling unit selected individually and a cluster sampling selected in groups.
What kind of cluster sample is it when all the population elements of the selected subset are included in the sample?
A one stage cluster sample
What is a two-stage cluster sample?
When a sample of element s is selected from within each subset.
What is the determining factor between which sampling is used (cluster or single unit)?
Cluster sampling usually cost less per sampling unit but the sampling error will be greater the cluster sample than with a single unit sample.
What is the stratified sample?
A probability sample that involves dividing the population to mutually exclusive and exhausted and then randomly sampling elements from each group. Stratified sample is a common approach in healthcare research.
What is an un-stratified sample?
The population is not divided into substance. This is similar to cluster sampling.
When Can single stage sampling be used?
If there is a perfect sampling frame that list each unit of the population from which the sample is to be drawn. Without a perfect sampling frame a multistage process is often required.
What types of questions could a clinic survey ask?
Open ended questions, multichotomous questions (yes or no) or they can be phrased through application of a scale (ie likert or semantic differential).
Multi variate statistical analysis?
Considers the impact of multiple variables on a dependent variable. Ex: regression analysis
Marketing information system (mis)
A database developed by organizations to enhance marketing efforts and allow them to identify, profile, and reach individual customers