MKT 473 1st EditionExam # 2 Study Guide Chapter 4 & 5Exploratory Research Exploratory research - Type of research design that puts the emphasis on the discovery of ideas and insights Qualitative research- Focus groups, depth Interviews, projective tasks, ethnographic Exploratory research- When little is known about a problem or little information is available in about the subject at hand Literature search in exploratory study - When the sources (conceptual literature, trade literature, and published statistics) are reviewed and combined, the firm’s problem may be diagnosed clearly. Experience survey- An experience survey would be a survey given to anyone in the company that has any amount of knowledge about the subject. This provides different viewpoints of the topic. Benchmarking- The use of one or more organizations cases to develop insights on something Focus group - Focus Groups are important for generating hypothesis, structuring consumer questionnaires, provide background info, and obtain customer impressions. - Having a medium sized group keeps the conversation flowing evenly, and screening for differences keeps the group evenly kilted. - Moderators should be knowledgeable about the topic, probe topics and encourage during discussion, and be objective to all comments. Other techniques for gathering qualitative data- Observations in the field, word associations, sentence completion, story telling High tech measures used to observe respondents. - Galvanometer is series of small electrodes that fit onto a consumer and measures emotional arousal by the sweating of the skin. - An Eye Camera is used to measure eye movements of the consumer while reading online ads. Descriptive analysis- Use descriptive analysis when describing characteristics of a group, estimating the Longitudinal analysis- The analysis of something over a period of time. Chapter 6Concomitant variation - The extent to which two variables have occurred or varied in conjunction with the specific hypothesis.Other causal Factors- Another casual factor could be the time order of occurrence that doesn’t mean one variable is the cause of an outcome just because one comes first and the other second. To remove other casual factors, we need to hold or adjust certain factors to single out the variable and outcomes that we are predicting. Internal validity - Internal Validity is deciding if the effect is due to the cause we predicted. An examplewould be deciding if the increase in sales of Christmas trees after the holidays were due to us lowering the price, or the fact that people are shopping for Christmas treesafter Christmas. External validity - External Validity is being to generalize our conclusion over other samples. If the salesof Valentine’s chocolate goes up because the price is lower after the holiday. Extraneous variables affect internal validity- Instrument variation could damage the results in any experiment. - History could affect the internal validity on my levels because things are constantly changing in history making it almost impossible to measure validity.- Internal validity could be affected by maturation. Over time consumers grow creating changes in the results. True experimental design- True experimental design is characterized by randomization of all factors. Test markets- Standard test markets: companies sell through their normal distribution channels - Electronic test markets: people are given ID cards based on demographics and they are monitored through their purchase and the ads they watch on TV.- Simulated test market: people are selected to view a product and watch a commercial on it and the competitor’s products. They are then given the opportunity to purchase it with coupons and/or free samples. They receive a post purchase survey to see the impact the product has made on the