MKC1 Chapter 10 – Key Terms/Questions

Marketing Research
The process of collecting, analyzing, and reporting marketing information that can be used to improve a company’s bottom line.
Market Research
The process of researching a specific market to determine its size and trends
Market Intelligence
Information gathered on a regular, ongoing basis to enable a firm’s decision makers to stay in touch with what’s happening in the marketplace
Marketing Information System (MIS)
A system, either paper or electronic, used to manage information a firm’s marketing professionals and managers need to make good decisions
Clickstream Data
Data collected from Web sites showing te Web pages visitors clicked on and the order of their clicks
Intranet
A private, internal Web site accessible only to a firm’s employees
Data Mining
The process of extracting information from large databases so as to uncover patterns and trends
Analytics Software
Software that utilizes a firm’s data, regression models, linear programming, and other statistical methods to help managers who are not computer experts make decisions.
Industrial Espionage
The process of gathering corporate information illegally or unethically
Why do companies gather market intelligence and conduct marketing research?
To stay in touch with what is happening in the marketplace

Marketing research can help with many tasks:
– Developing product ideas and designs
– Determining if there is demand for your product so you know whether or not to produce it
– Identifying market segments for your product
– Making pricing decisions
– Evaluating packaging types
– Evaluating in-store promotions
– Measuring the satisfaction of your channel partners
– Evaluating the effectiveness of your Web site
– Testing the effectiveness of ads and their placement
– Making marketing channel decisions

What activities are part of market intelligence gathering?
Talking to customers about new product ideas.
How do marketing professionals know if they have crossed a line in terms of gathering marketing intelligence?
How does the time frame for conducting marketing intelligence differ from the time frame in which marketing research data is gathered?
Marketing research involves solving a specific marketing problem at a specific point in time. Market Intelligence involves gathering information on a regular, ongoing basis.
Research Objective
The goals marketing research is supposed to accomplish
Research Design
An outline that specifies the research data to be gathered, from whom, how and when the data will be analyzed once it has been obtained
Primary Data
Data collected using hands on tools such as interviews or surveys to answer a question for a specific research project
Secondary Data
Data already collected by your firm or another organization for purposes other than the marketing research project at hand
Syndicated Research
Primary data marketing research firms collect on a regular basis and sell to other companies
Scanner-Based Research
Information collected by scanners at checkout stands in stores
Marketing Research Aggregator
A marketing research company that doesn’t conduct its own research but instead buys it from other marketing research companies and then sells the reports in their entirety or in pieces to other firms
Exploratory Research Design
A less-structured type of research design used to initially investigate a marketing research project that hasn’t yet been defined well enough for an in-depth study to be conducted
Depth Interview
An exploratory research technique of engaging in detailed, one-on-one, question-and-answer sessions with potential buyers
Focus Group
A group of potential buyers brought together to discuss a marketing research topic with one another
Case Study
A study that looks at how another company, or companies, solved a problem being researched
Ethnography
A type of study whereby marking researchers interview, observe, and often videotape people while they work, live, shop and play
Projective Technique
An exploratory research technique used to reveal information research respondents might not reveal by being asked directly
Descriptive Research Design
A study that involves gathering hard numbers, often via surveys, to describe or measure a phenomenon so as to answer the questions of who, what, where, when, and how.
Physiological Measurements
Measurements that record people’s involuntary physical responses to marketing stimuli, such as an advertisement
Causal Research Design
A type of research design that examines cause-and-effect relationships to allow researchers to answer “what if” types of questions
Field Experiment
A marketing research experiment conducted in a natural setting such as a store versus a stimulated setting in a laboratory or on a computer
Test Market
The place an experiment is conducted or the demographic group of people an experiment is administered to
Double-Barreled Question
A survey question that is potentially confusing because it asks two questions in the same question
Open-Ended Questions
Questions that ask respondents to elaborate upon, or explstions that limit a ain, their answers
Closed-Ended Questions
Questions that limit a respondent’s answers. Multiple-choice and yes and no questions are examples
Sample
A small amount of a product given to consumers to try for free
Population
The entire target market being studied
Sampling Error
Any type of marketing research mistake that results because a sample was utilized
Sampling Frame
The list from which a research sample is drawn. The sampling frame won’t perfectly match the population
Probability Sample
A research sample in which each would be participant has a known and equal chance of being selected
Nonprobability Sample
A research sample that’s not drawn in a systematic way
Convenience Sample
Type of nonprobability sample that’s drawn because its readily available and convenient to do so
Back Translation
A process whereby a native speaker translates a research instrument such as a survey into a foreign language and then back again to the original language to determine if there are gaps in meaning
Data Cleaning
The process of removing research data that have accidentally been duplicated
Valid
A study that actually tests what it was designed to test and not something else
Reliable
A study that when repeated produces the same or nearly the same result
Margin of Error
A measure of the possible inaccuracy of the data reported in a survey
Explain why it’s important to carefully define the problem or opportunity a marketing research study is designed to investigate?
Describe the different types of problems that can occur when marketing research professionals develop questions for surveys.
How does a probability sample differ from a nonprobability sample?
What makes a marketing research study valid? What makes a marketing research study reliable?
What sections should be included in a marketing research report? What is each section designed to do?
What is secondary research?
Where can secondary research sources be found?
What is primary research?
Describe and give example of the three primary research methods: 1) observation, 2)surveys, 3) controlled experiments