Mrkting Exam II Ch. 8

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rklimczak
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11631
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Mrkting Exam II Ch. 8
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2010-03-22 22:53:44
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Marketing Research New Products managing brands segmentation targeting and positioning
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Terms for test #2
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  1. Primary v. Secondary Data
    • Primary Data = Facts and Figures newly collected for a project
    • v.
    • Secondary Data = Facts and Figures that have already been collected for another purpose

    *ALWAYS use Secondary Data first*
  2. Marketing Research
    The process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending action
  3. Hypothesis Generation v. Evaluation
    • Generation
    • Purpose: uncover ideas to test during 'idea evaluation stage'
    • Typical Methods: one-on-one conversations, focus groups, brainstorming sessions using small samples
    • Kinds of Questions/data: open-ended, observational
    • How results are analyzed: Qualitative analysis

    • Evaluation
    • Purpose: test ideas discovered in hypothesis generation stage to recommend marketing actions
    • Typical Methods: mail, telephone, and personal interviews using large samples
    • Kinds of Questions/data: fixed alternative
    • How results are analyzed: Quantitative analysis
  4. Qualitative Research Methods (8 methods)
    • 1. Focus Groups
    • 2. Crayons
    • 3. Collages
    • 4. Personal Items from home
    • 5. Ethnographic
    • 6. Cool Hunters
    • 7. Mystery Shoppers
    • 8. Hypnosis
  5. Focus Groups
    • A Qualitative Research Method
    • An informal one-time session of 6-15 current or potential users of a product or service in which a discussion leader seeks their opinions on the firm's or a competitor's products or services.

    • Can be used for: - idea generation
    • - Development and Pre-testing of Questionnaires
    • - Overall background information on product or service category
  6. Crayons
    • A Qualitative Research Method
    • where different colors represent different moods/attitudes towards a product
  7. Collages
    • A Qualitative Research Method
    • When you do 'X', choose a picture that matches how you feel
  8. Personal Items From Home
    • A Qualitative Research Method
    • "bring something from home that represents how you feel when you have a migrane"
  9. Ethnographic
    • A Qualitative Research Method
    • If we watch people in their daily routine and see how they act, respond, and learn new behaviors
  10. Cool Hunters
    • A Qualitative Research Method
    • "trend spotters" @ big locations; Rodeo Dr., Soho, Milan, Tokyo, etc
  11. Mystery Shoppers
    A Qualitative Research Method
  12. Hypnosis
    • A Qualitative Research Method
    • 10% > $, put under hypnosis and asked personal questions regarding sexuality and sensitive topics.
    • Helps get more accurate information from people who may at first may feel sensitive to answering these questions
  13. Sampling
    Sample: A segment of the population selected for market research to represent the population as a whole

  14. Kinds of Samples Used in Marketing Research
  15. Probability Sampling
    (definition and 3 types)
    • Definition - The selection of a sample using precise rules such that each element of the
    • population has a specific known chance of being selected. This
    • technique allows the sample to be representitive of the entire
    • population and conclusions to be drawn about the entire population.

    • 1. Simple Random Sample
    • 2. Stratified Random Sample
    • 3. Cluster Sample
  16. Simple Random Sample
    • A Type of Probability Sampling
    • Each element of the population has an equal chance of being chosen

    • eg. having 20,000 cuctomers, and taking a sample of 200 with each customer having an equal probability of being chosen
  17. Stratified Random Sample
    • A Type of Probability Sampling
    • The population is divided into groups and a simple random sample is then selected from each group.

    • total # 20k # we take from each hat
    • Charge Light 5,000 25
    • Card Med. 10,000 50
    • Usage Heavy 5,000 25
  18. Cluster Sample
    (2 types)
    A Type of Probability Sampling

    Random selection of entire groups of elements

    • Systematic Cluster Sample
    • Elements are chosen from a list of the population at fixed intervals
    • eg. 20,000/100 = 200 or 400 or 600 etc....

    • Area Cluster Sample
    • Population is divided into geographical groups (census tracts, blocks, etc.) and a sequence of random samples is drawn from a series of geographic subdivisions.
    • (A sample is NOT drawn from each geographic group)
  19. Non-probability sampling
    (definition and 3 types)
    Defined - The selection of a sample using arbitrary judgments so the chance of selecting a particular element may be unknown or 0. Samples may give biased data as it is NOT representative of a population.

    • types - 1. Convenience Sample
    • 2. Judgement Sample
    • 3. Quota Sample
  20. Convenience Sample
    • Type of Non-probability Sampling
    • The researcher selects from the most accessible population members from which to obtain information, usually with minimum time and cost.
  21. Judgement Sample
    • Type of Non-probability Sampling
    • Researcher uses own judgement to select sample members who are good prospects for accurate information
  22. Quota Sample
    Type of Non-probability Sampling

    Type of conveinience and judgement sample whereby researcher specifies a mix of characteristics of respondents (sex, age, income, purchase volume, etc...)

    • eg. x male: y female
    • age 19-28: 29-40

  23. Criteria for a Good Questionnaire
    • Does it provide the necessary decision-making information?
    • Consider the respondent
    • Simple, direct, & unbiased wording
    • Editing, coding, & data processing requirements - The more expensive it is to interpret, the greater the $ the survay will cost.
  24. Open-End Questions
    • Completely unstructured: "what is your opinion of Delta Airlines?"
    • Word Association: "What is the first word that comes to your mind when you hear the following?" - Airline ________, Delta________, & Travel________.
    • Sentence Completion: "When I choose an airline, the most important consideration in my decision is _____________.
  25. Closed-End or Fixed Alternative Questions
    • Dichotomous: yes/no
    • Multiple Choice: 3+ choices
    • Likert Scale: Amount of agreement/disagreement

    Strongly Disagree Disagree Neither Agree nor Disagree Agree Strongly Agree
  26. Fixed Alternative Questions
    Semantic Differences: Bipolar 7 pt. scale; direction & intensity of feeling

    • Love ___ ___ ___ ___ ___ Hate
    • Large ___ ___ ___ ___ ___ Small

    Intention to buy scale: Describes intention to buy

    Definitely Buy Probably Buy Not Certain Probably Not Buy Definitely Not Buy
  27. Household (HH) Penetration and Buying Rate
    • # HH using Prod. x 100 = US HH penetration
    • US HH
    • # products purchased = Buying Rate
    • # HH using Prod.

    eg. 100mil US HH & 40mil using product & 120mil prod. purchased

    • 40mil/100mill * 100 = 40% penetration
    • 120mil/40mil = 3 products per HH (Buying rate)

  28. Five-Step Market Research Decision Making Process
    • 1. Define the Problem
    • 2. Develop the Research Plan
    • 3. Collect Relevant Information
    • 4. Develop Findings
    • 5. Take Marketing Actions
  29. Step 1 - Define the Problem
    • Objectives - specific, measurable goals the decision maker seeks to achieve in solving a problem (SMART goals)
    • Garbage in - Garbage out

    • Exploratory Research - exploring the market
    • Descriptive Research - talks about depth of relationship; how often & how you use a product/service
    • Causal Research - If we do 'X' what is going to happen to 'Y'?

    • Measures of success - criteria or standards used in evaluating proposed solutions to a problem.
    • --> take personal opinion out & determine how you you will measure success

    • Test for Market Research - Do different outcomes lead to different marketing actions?
    • --> Is there another way to change things without doing this research?
  30. Step 2: Develop the Research Plan
    • Specify the constraints on the research activity --> time & money
    • Identify the data needed for marketing action
    • Determine how to collect the data
  31. Step 3: Collect Relevant Information
  32. Step 4: Developing Findings
  33. Step 5: Take Marketing Action

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