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Market Research
Systematic search to produce information about market characterisitcs

Marketing Research
systematic research condcted to aid marketings decisions

statistics
the art and science of gathering, organzing, analyzing, interpretying and presenting numberical data for the purpose of making a more effective decision

information
processed data

descriptive statistics
gathers, organizes, analyzes and presents numerical data

inferential statistics
attempts to understand population characterisitcs based on data from a sample

census
a count of the entire population

sample
a portion of or extract from the population

sample unit
individual members of the sample

variable
a measurable factor that changes

constant
a measurable factor that does not change

varaiblitiy
the amount of dissimilarity

qualititative variable
the property being studied is nonnumeric in nature

quantitative variable
the property being studied can be reported numerically

demographics
variables used to describe or define the population being studied

Secondary data
information that has been collected for some other purpose

primary data
information gathered specifically for the research objectives at hand

Openended
presents no response options to the respondednt, expected to use his/her own words

Openended unprobed
  "What were your impressions of the website?"
  freedom to respond with own words
  difficult to code and analyze
  may give one word answers

openended probed
 "can you think of anything more?"
 "did you have any other thoughts/impressions about the website?"
  more complete answers
  difficult to code and analyze

closedended
provides respone options that can be answered quickly and easily

dichotomous closedended
 "on your last visit, did you like or dislike the food at the red lobster?"
 simple to code and analyze
  oversimplifies response options?

miltiple catergory closedended
 "if you were to buy a DVD player tomorrow which brand would you most likely buy?
 (a) panasonic (b) sony etc
  broad range
  simple to anaylaze/administer
  allow only one choice
 may alert respdodnes to options the were unware of

scaled response
uses a scale to measure a construct

unlabeled scaledresponse question
 "on a scale of 1 to 7 how would you rate the red lobster on quality of food"
 

labeled scaled response question
"do you disagree strongly, disagree, agree, or agree strongly with the statement, "red lobster serves high quality food?"

objective properties
concrete, tangible, verifiable (age, income, etc)

subjective properties
cannot be directly observed because they are mental contrsucts(attitude, intentions, opinions, etc)

scale develompent
designin questions to measure the subkjective properties of an object

categorical level of measurement
scales of measure, qualitiative variables ( eg m/f, yes/no). disctinct categorys

metric level of measurement
scales: used for measuring quantitative variables (age, income, how many children, etc)

Nominal scales (categorical, qualitative)
 use only labels (type of dwelling, occipation, gender, yes/no)
 least sophistacated (cannot perform advanced or sophistiacted stats with this data)
 "check the brand you would most leikley consider purchasing:"
 "do you recall seeing a delta airlines ad for carefree vacations in the past week?"

ordinal scales (categorical, qualitative)
 "please rank each brand in terms of your preference (1 first choice, 2 2nd choice)
 in your opinion would you say the prices at walmart are": higher than sears, about the same as sears, lower than sears"
 rank order (indicate yoru first, second and third choice of brands)
 realtive size differences among objects.(cant tell how far apart the descriptors are on the scale dont posses distance or origin)

interval scales (metric)
 "indicate your degree of agreement with the following statement by circling the appropriate number: "
 "please rate pontiac firbired by checking the line that best corresponds to your evaluation of each item listed"
 distance is known or assumed to be equal (3 to 4 is same as 4 to 5)
 labels are on a continuum, equal distances apart for check lines
 higher level of measurement

ratio scales (metric, quantitative)
 "Please indicate your age" __years
 "What is the probablity that you will use a lawyers services when you make a will? ___percent
 true zero origin exists ($ spent, time taken, years of college education)
 allows us to construct "ratios" when comparing results: "twice as heavy", three times as costly
 most sophistacted

level of sophistication
nominal (lowest), ordinal, interval, ratio (highest)

modifited likert scale
asked to indicate their degree of agreement or disagreement on a symmetri agreedisagree scale for a series of statements

halo effect
this is a general feeling toward an object that can bias responses to specific questions

summated scale
respondents reply with checkmarks from a list of options (check all that apply) the researcher can sum the checks to get a measure of the construct

anchored scale
one in which the endpoints are indentified with the beginning and ending number of the scale (eg 1=very dissasitified, 5=very satisfied)

realiable
one in which the same respondednt respond in the same way to an identical or nearly idenctical quesiotn

valid
the accuracy of the measurement a valid measure is on that is truthful

data reduction
 summarize (imporatant characteristics)
 get flavor of data, generalize sample,

inferential analysis
generalize results of sample to target population that it represents

decriptive analyis
 •Mean,
 median, mode, standard deviation (“SD”), range
 •Used
 to describe the sample data matrix in such a way as to portray the
 “typical” respondent and to reveal the general pattern of
 responses.
 •Typically
 used early in the analysis; become foundations for subsequent analysis.

Inferential
Analysis
 •“Inferential analysis” – generalize the results of the
 sample to the target population that it represents.
 •Meaning,
 the researcher makes conclusions about the population based on the sample
 results.
 •Include
 hypothesis testing; estimating true population values based on sample
 information.

Difference
Analysis
 •Used to test the difference between or among groups –
 are the groups really different on this variable?
 •For example: One group exposed to ad for Brand A; one
 group has not seen the ad. Variable of
 importance: purchase of brand. Are
 there real and significant differences between the two groups?
 •ttest for significant differences; analysis of variance
 (ANOVA)

.
Associative Analysis
 •Used to determine systematic relationships among
 variables. “Associative analysis” investigates if and how two variables are related.
 •Analysis may indicate how strong the association and /or
 the direction (positive? negative?)
 •Techniques include crosstabulations (“crosstabs”) and
 correlations.

5.
Predictive Analysis
 •Used
 to help the marketing researcher make predictions or forecasts about future
 events.
 •Regression
 analysis, time series analysis are examples of techniques.

Central tendency
 what response is most typical? Which is the most
 frequent response?
  •Goal: to report a single piece of
 information that describes the most typical response to a given question.

Mode
•“The value in a string of numbers that occurs MOST often.”

Median
 •Expresses the value that lies in the middle of an ORDERED set of values. It is
 the value such that half the other
 values are greater than the median, and half are less than it.

Mean
 The
 average value characterizing
 a set of numbers.

Independent
variable
 –
 a factor that causes or brings about a change
 (e.g.,
 money spent on advertising)

Dependent
variable
 –
 a factor that is changed (by the independent variable) (e.g., sales)

Measures of
Variability:
 •Frequency
 distribution/ Percentage Distribution
 •Cumulative
 Percentage Distribution
 •Standard
 Deviation, Range

Frequency Distribution
•A tabulation of the number of times that each value appears in a particular set of values.

Measures of Variability – Range
distance between the minimum and the maximum value in an ordered set of values.

Measures of Variability – Standard Deviation (“SD”)
 indicates the degree of variation in the values translated into a normal distribution.
 

± 1.96 SD =?
•indicates the limits within which 95% of the area under the curve lies

± 2.58 SD
•indicates the limits within which 99% of the area under the curve lies

Nominal
1 Central Tendancy:
2 Variability:
 1 Mode
 2 Frequency or percentage distribution

Ordinal
1 Central Tendancy:
2 Variability:
 1. Median
 2. Cumulative percentage distribution

Intervel or Ratio
1 Central tendancy:
2 Variability:

sample statistics
Values that are computed from a sample.

“Parameters”
values that are computed from a complete census of the population









Statistical inference
 •a set of procedures in which the sample size and sample
 statistics are used to make estimates of population parameters.


Parameter Estimation
of using sample information to compute an interval that describes the range of a parameter such as the population mean (µ) or the population percentage (π).

Sample Statistic
The mean or percentage is derived from a sample, so it is the sample statistic.

•Standard Error (“SE”)
measure of the variability in the sampling distribution

Standard Error of the Mean

Standard Error of the Percentage
 P + Q = 100

The SE will be smaller for large sample sizes and larger with small sample sizes.

When is p x q maximum?
50x50

CI (95%) fo Std. error of mean =
 =Mean ±1.96 (SE)

CI (95%) for Std. Errof of % =
 =p ± 1.96 (SE)

Best estiamte tyhat the mena amount spent by US teens is 150/ week. 95% confident that population mean lies between 145.8 and 150

Best estimate that 67% of milwaukee residence have been to a brewers game at least once in past 12 weeks. 99% confident that the populatin percentage lies between 60% and 70%

