MRKT 396 Midterm (Fundamentals of Marketing Research)

What does the American Marketing Association (AMA) redefine “marketing research” as?
The function that links the consumer, the customer, and the public to the marketer through information.
What are the 5 components of marketing research?
1. Identification- specifies the information necessary to address these issues
2. Collection- manages and implements data collection
3. Analysis- results
4. Dissemination- communicates findings and implications
5. Use of information- to help make decisions
Is marketing research fundamental to making business and marketing decisions?
Yes
What are the 6 steps of the marketing research process?
Step 1: Define the problem
Step 2: Develop an approach to the problem
Step 3: Formulate a research design
Step 4: Conduct fieldwork or collect data
Step 5: Analyze and prepare data
Step 6: Prepare report and presentation
When was the National Research Act passed?
1974
When was the Belmont Report published?
1978
What are the 3 principles of the Belmont Report?
1. Respect for persons- what would a person want to know about the research
2. Beneficence- level of risk compared to reward
3. Justice- what people are included/excluded
What is the IRB at OSU?
Institutional Review Board
The IRB is an administrative body established to protect the rights and welfare of human research subjects recruited to participate in research studies at OSU.
What is the most critical step in a marketing research project?
Problem definition
What is the “problem audit”?
A comprehensive examination of a marketing problem with the purpose of understanding its origin and nature.
What is the Key Informant Technique?
Interviews with people very knowledgeable about the general topic being investigated (a form of qualitative research).
What is Secondary Data Analysis?
Data collected for some purpose other than the problem at hand (example: US Census data)
What is Qualitative Research?
An exploratory research method based on small samples intended to provide insight and context to problems.
How is a Management Decision Problem different from a Marketing Research Problem?
Management Decision Problems are action-oriented, broad and general, and focus on a new product. Marketing Research Problems are information-oriented, narrow and specific, and focus on consumer preferences.
What is the Goldilocks problem?
“not too narrow, not too broad… just right”
Ultimately what should marketing research problems address?
A specific bottom-line business objective (example: revenue, cost savings, consumer satisfaction, etc.)
what are the 5 steps to developing an approach?
1. Theory
2. Analytical model
3. Research questions
4. Hypotheses
5. Information needed to test hypotheses
What are the 3 types of analytical models?
1. Verbal
2. Graphical
3. Mathematical
What is a census?
A census collects information about every member of the population. Think of it as a 100% sample survey. It is accurate and detailed but costly and slow.
What is a survey?
A survey is a data collection activity where only part of the population is selected (sample). It is not as accurate as a census but it is faster and cheaper.
What are the 4 main things the census is used for?
1. Apportioning the representatives within The House
2. Distribute federal, state, local, and tribal funds
3. Draw state legislative districts
4. Evaluate success of programs or identify populations in need
What are the differences between the short form and long form of the U.S. Census?
Short form- every household in the U.S. receives it. Asks for basic demographic information
Long form- about 17% of the U.S. population receives it. This is more detailed (social, economic, physical, and financial characteristics)
How is the U.S. Census administered?
-Pre-notification letter
-Questionnaires mailed to households
-A reminder postcard
-Door-to-door visits and phone calls
What was the national response rate for the 2000 U.S. Census?
67% (that’s good)
Who has access to U.S. Census information?
Only Census Bureau employees
When does Census data become public?
After 72 years
Can the Census Bureau share individual’s answers with other government agencies?
No
Within the U.S. Census, what are legal/administrative entities?
Congressional district, county, state, voting district
Within the U.S. Census, what are statistical entities?
Block group, census block, census tract, zip code tabulation area, metropolitan area
What is the hierarchy of U.S. Census geographic entities?
Nation, Regions, Divisions, States, Counties, Census Tracts, Block Groups, Blocks
What is the ACS?
American Community Survey
As of 2010, the ACS replaced the decennial census long form (short form is still administered every 10 years)
What is the purpose of the ACS?
To measure the changing social and economic characteristics of the U.S. population. Samples 3 million addresses each year, interviews 2 million.
What type of information can be found in the ACS?
-Social (education, marital status)
-Economic (income, employment)
-Housing (house value, own/rent)
-Demographic (age, sex, race)
What is the ACS’s sampling error?
90% confidence limits or margins of error in every table
Why do ACS estimates have lower potential non-sampling error than the U.S. Census?
Through the use of experienced researchers, and the refusal to allow “proxy” interviews
Does the U.S. Census or the ACS have a higher response rate?
The ACS
What are the 2 reasons a business would use the ACS?
1. Market/site evaluation
2. Consumer segmentation
How does the ACS differ from the U.S. Census when it comes to housing information?
The ACS includes seasonal populations (people with vacation homes) and the U.S. Census only counts primary residents.
How does the ACS differ from the U.S. Census when it comes to income data?
ACS income data is adjusted for inflation and U.S. Census income data is NOT adjusted for inflation.
What are the 2 types of research design?
1. Exploratory- provides insights and understanding, clarifies issues. Research process is flexible and unstructured. Sample is small and non-representative. Analysis of data is qualitative. Followed by further research or is the only research conducted.
2. Conclusive- tests specific hypotheses and examines relationships. Research process is formal and structured. Sample is large and representative. Analysis of data is quantitative. Findings are used as input into decision making process.
What are some methods of exploratory research?
Pilot surveys, survey of experts, case studies, qualitative research (focus groups), secondary data analysis
What is causal research?
A type of conclusive research regarding cause-and-effect relationships done through experiments
What is descriptive research?
A type of conclusive research that describes market characteristics or functions done through surveys, secondary research, panels, observations
What are the 6 W’s of descriptive research?
Who
What
When
Where
Why
Way
What is cross-sectional design?
A type of descriptive research involving the collection of info from a sample only once
What is longitudinal design?
A type of descriptive research involving repeated measurements of the same variables from the same sample
What is a cohort analysis?
A series of surveys conducted at appropriate time intervals (example: Gen X, Gen Y)
What is total error?
The difference between the population you want to learn about and the population taking part in your research project (population vs. sample difference)
What is random sampling error?
Happens because the particular sample is an imperfect representation of the population
What are non-sampling errors?
This is a catch-all category for errors and is much more difficult to quantify (or measure) than random sampling error. Non-sampling
errors are attributed to sources other than sampling. Errors may be random or non-random.
What are the 2 types of non-sampling errors?
1. Non-response error: some respondents in sample don’t respond
2. Response error: respondents give inaccurate answers or answers are mis-recorded
Should you start research with primary or secondary data?
Secondary data
What are syndicated sources of secondary data?
Information services offered by companies
that collect and sell common pools of data, these can be expensive (surveys, purchase panels, media panels, scanner data)
What is “triangulation”?
Using more than 1 research method in order to check results
What is single-source data?
Measuring multiple variables (TV viewing
habits, shopping habits, reading) of an
individual or household over time
Explain the difference between applied and basic research.
Applied research seeks to answer a question in the real world and to solve a problem.
Basic research fills in knowledge we don’t have.
What is competitive analysis?
Evaluating what makes your product unique and which attributes to play up to attract target market
What are the 6 criteria used to evaluate secondary data sources?
Dependable
Objective
Nature
Currency
Method
Error