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What is Marketing Research?
Gathering unique information to aid in making specific decisions
What are the steps in the Marketing Research Process?
- Define problem/objectives
- Determine research design
- Choose data collection method
- Design the sample
- Collect the data
- Analyze data
- Prepare report
What are the components to Define Your Research Problem?
- Specify research objectives
- Identify population of interest
What do you do when you Define Your Research Design?
Define what information will be collected and what type of study will be done
What are the two branches of Research Designs?
What is Secondary Research Design?
Data that has been collected for some purpose other than the problem at hand.
What is a Primary Research Design?
Data that did not previously exist, but was collected to answer a specific research question
What are the types of Secondary research?
- Internal - Inside the company
- External - Outside the company
What are the types of Primary research?
What is Exploratory Primary research?
Requires an experiment to be made or some sort of observation.
What is Descriptive Primary research?
Very detailed facts and information like demographics.
What is Causal Primary research?
Finding out why something may have caused something else to happen.
Under External Secondary research, what is Syndicated Research?
Collected by independent research firms and sold to all that are interested
Under Exploratory Primary research, what is a focus group?
Discussion among a small group of consumers led by a trained moderator
Under Exploratory Primary research, what is Ethnography?
Observation of consumers in natural habitat
In Exploratory Primary research, what are Projective Techniques?
To reveal "hidden" motivations
In Descriptive Primary research, what is Cross Sectional design?
One time data collection
Under Descriptive Primary research, what is Longitudinal data?
Tracks same group over time
Under Causal Primary research, what are Independent Variables?
Factors that might cause changes observed
Under Causal Primary research, what are Dependent Variables?
The variables of interest, what we are trying to predict or explain
What are the advantages of Secondary data?
- It's already on hand
- Easy and cheap
What are the disadvantages of Secondary data?
- It's collected for a different purpose
- Risks of being inaccurate, old, irrelevant
What are the advantages of Primary data?
- Collected for new research plan
- Tailored to new problem
What are disadvantages of Primary data?
What is a Survey?
Involves interaction between researcher and participant
What are some characteristics of a good survey that "dives beneath the surface?"
- First set objectives
- Survey provides standardization and uniformity to collect data
- Survey is a launching pad for conversation with your respondents
- Surveys should be short and to the point
What's the problem with Open-Ended Questions?
They vary too much and are difficult to "grade."
What is a Graphic Rating Scale?
- Measures attitude along graphic continuum which is anchored by two extremes
- Easy to construct and use
- Overly extreme anchors can force respondent to the middle
What is an Itemized Rating Scale?
Respondent selects an answer from a limited number of ordered categories
What's important for an Itemized Rating Scale?
Keep the answers in order
What is a Likert Scale?
Indicate agreement with a statement by selecting the number that best represents their attitude
How many questions are typically used with a Likert Scale format?
What do you need to consider when creating Multiple Choice questions?
Are all possible answers available?
What are Categorical questions used for?
- Numerical answers
- Categories of numbers
What are the rules of Categorical questions?
- Be sure that categories do not overlap
- Be sure to break down items into distinct and clear categories
- Each respondent must "belong" in a specific category
What are Ranking questions?
Objects are judged against one another, with respondent indicating their first, second... choice
What are the advantages of Ranking questions?
- Instructions are easy to read
- Realistic substitute for real-world behavior
What are the disadvantages of Ranking questions?
- Answer options may not contain all the possibilities
- If uninterested, ranking is meaningless
- Can't judge distance between rankings
What is a Constant Sum question?
- Allocating number of points among list of items
- Indicates rank and relative magnitude
What are the advantages of a Constant Sum question?
- Can give objects equal values unlike traditional rank order scale
- Researcher can judge relative distance between ranks based on points allocated
What are the disadvantages of Constant Sum questions?
Can be confusing for respondent when you have a large number of objects (more than 10)
What is a Semantic Differential question?
Rate object using a set of continuums from one extreme to another
What are the advantages of Semantic Differential questions?
- Good way to compare products or company images
- Generally regarded as a reliable and valid tool in making marketing decisions
What are disadvantages of Semantic Differential questions?
- Must develop unique scale for the object under study
- Halo Effect - when rating of specific component is dominated by overall impression
What are the 3 tips for writing successful surveys?
- Remember your purpose
- Keep it simple
- Stay focused
What is the order of a good survey?
- Intro - qualifying questions
- Meat and potatoes
What should you never include in a survey?
What are Double-Barreled questions?
Asking questions where the respondent may only partially agree
What are Leading questions?
Asking questions that lead the respondent in one direction
What are mutually exclusive and mutually exhaustive answers?
Answers are all covered and do not interrupt each other
When is "I don't know" not an option?
When you want to force them to take a side
What is an Observation method of data collection?
No interaction between researchers and participants
What is one of the arguments FOR surveillance in observation?
Consumers can say one thing and do another
What are types of tracking used in Observation?
- Security footage
- RFID tags
- Motion sensors
- Facial recognition
What is an Experiment in data collection?
Manipulating a variable to observe the effect of one on another
What are Dependent Variables in an experiment?
- Static items
- Example: Sales
What are Independent Variables in an experiment?
The marketing mix
What is a Control Group in an experiment?
The group where nothing changes
What is the Treatment Group in an experiment?
The group where changes are introduced
What is a Feedback Mechanism in an experiment?
A way of obtaining feedback from an experiment
What are the rules of an experiment?
- Focus on individuals and the short term
- Keep it simple
- Start with proof of concept
- Validity - did you measure what you intended?
- Reliability - Is info free of errors?
What is a Stratified sample?
Groups represent the classification you want and then sample the groups
What is Clustered sampling?
- Divided into clusters and then random clusters become the sample
- (mini me of population - proportion wise)
What is a Non-probability sample?
Can't calculate the chances of being chosen
What is a Snowball sample?
Find one and get referrals from there
What is a Quota sample?
- Break up something different than you purpose
- Use convenience from each group