MKTG 334 1st Edition Final Exam Study GuideWhat are the 2 types of marketing research? What is the scientific method, and how and when is it used. What ismarketing research? What are the 4 stages for developing and implementing a marketing strategy?Marketing research is the application of the scientific method in searching for the truth about marketing phenomena. The process includes idea and theory development, problem definition, searching for and collecting information, analyzing data, communicating the findings and their implications. The two types of marketing research are applied and basic. Applied marketing research is conducted to address a specific marketing decision for a specific organization. Basic marketing research is conducted without a specific decision for a specific organization. It attempts to expand knowledge in general.Researchers use the scientific method to reach objective conclusions about the real world. Prior knowledge and observation lead to a hypothesis. The hypothesis is tested by observation or experimentation, which leads to the conclusion (new knowledge). Developing and implementing a marketing strategy involves four stage: identifying and evaluating market opportunities, analyzing market segments and selecting target markets, planning and implementing a marketing mix that will provide value to customers and meet organizational objectives, and analyzing firm performance (knowwhat each of these include). Types of marketing mix research include product research, pricing research, distribution research, and promotion research.Product research- designed to evaluate and develop new products and to learn how to adapt existing product lines (i.e concept testing, product testing, brand-name evaluation, package testing). Supply chain- another term for a channel of distribution – link between suppliers and customersPromotion research investigates the effectiveness of advertising. Premiums, coupons, sampling, discounts, public relations, and other sales promotions. Integrated marketing communication- all promotional efforts are coordinated to communicate a consistent imageIntegrated marketing mix- research studies often investigate the effects of various combinations of marketing mix elements on important outcomes like sales and image. Marketing research is not needed depending on time constraints, availability of data, the nature of the decision, and when the cost outweighs the benefits. 3 types of marketing research include descriptive, exploratory, and causalCausal research degrees include absolute, conditional, contributory.The stages of the research process are 1. Objectives 2. Research design 3. Sampling 4. Gathering data 5. Process and analyze 6. ConclusionWhat are the 3 ways that gaps come about? What are the 6 steps in the problem definition process? 1. Understand the situation2. Identify key problems 3. Decision statement to research objective4. Determine unit of analysis 5. Relevant variables 6. Research questions What is the difference between qualitative and quantitative? What does researcher dependent mean? Name the common qualitative techniques.Qualitative marketing research addresses marketing objectives through techniques that allow the researcher to provide elaborate interpretations of the market phenomena without depending on numerical measurements. The focus is discovering true inner meanings and new insights. It is helpful when it is difficult to develop a specific and actionale decision statement for research objectives, the objective is to learn how consumers use a product in its natural setting or how to express some concept in colloquial terms. Exploratory, ad answers a broad range of questions.Quantitative marketing research is descriptive and conclusive. It addresses research through empirical assessments that involve numerical measurements and analysis. What is a focus group outline? What goes into a discussion guide? What are the disadvantages of a focus group?1. Welcome and introduction2. Broad icebreaker that doesn’t reveal too many specifics 3. Questions become increasingly more specific 4. Very specific objective to be accomplished, that question should be saved for last5. A debriefing statementObservationDefine observation and be able to apply the definition to a real-world example.Observation is a systematic process of recording actual behavioral patterns of people, objects, and events as they happen. 8 things that people do and marketing researchers observe?1. Physical activities- the way a shopper moves through a store, patterns of motion and interaction with objects2. Verbal behavior – statements made by consumers at the Wal-mart checkout either to each other or to an employee3. Expressive behavior and physiological reactions- facial expressions of consumers in a restaurant or the body language of consumers visiting a day spa; measures of how much sweat a person is producing4. Spatial relations and location- how close shoppers stand to service providers while getting advice about fashion5. Temporal patterns- how long patients in a doctor’s office will wait before approaching the counter to inquire or complain 6. Physical objects- what brand of shoes, clothing, and skateboards teens at the skate park own and use7. Verbal and pictorial records- photographs or videos of early childhood Christmas experiences, comments left on internet blogs Define unobtrusive observation, visible observation, and hidden observation. Be able to apply each definition to a real-world exampleUnobtrusive- no communication with respondent takes place, observe and recordVisible- easily known to respondentHidden observation – unaware any observation is taking placeAll help to minimize respondent error Understand what complementary evidence is. What it does. And how it is used. Define response latency, understand how it is measured, and what the measurement means.Complementary evidence – can be nonverbal communication observations, in depth interviews explain certain behaviorsResponse latency – the amount of time it takes to make a choice between two alternatives, used as a measure of the strength of preference. Longer a decision takes the more thought put into it Define direct observation.A straight-forward attempt to observe and record what naturally occurs; the investigator does not create an artificial situationDefine observer bias and understand the errors associated with direct observation.A