Exam 2 MKTG 409 1 Definitions a Ch 5 2 marketing research the systematic design collection interpretation and reporting of information to help marketers solve specific marketing problems or take advantage of marketing opportunities 3 2 types of marketing research i exploratory research ii conclusive research 4 The value of marketing research is measured by i improvements in a marketer s ability to make decisions 5 exploratory research research conducted to gather more information about a problem or to make a tentative hypothesis more specific 6 Methods for conducting exploratory research i customer advisory boards and focus groups 7 customer advisory boards small groups of actual customers who serve as sounding boards for new product ideas and offer insights into their feelings and attitudes toward a firm s products and other elements of its marketing strategy 8 focus group an interview that is often conducted informally without a structured questionnaire in small groups of 8 12 people to observe interaction when members are exposed to an idea or concept 9 conclusive research research designed to verify insights through objective procedures and to help marketers in making decisions 1 Conclusive research can be a descriptive or experimental 10 descriptive research research conducted to clarify the characteristics of certain phenomena to solve a particular problem 11 experimental research research that allows marketers to make casual inferences about relationships 12 research design an overall plan for obtaining the information needed to address a research problem or issue 13 hypothesis an informed guess or assumption about a certain problem or set of circumstances 14 reliability a condition that exists when a research technique produces almost identical results in repeated trials 15 validity a condition that exists when a research method measures what it is supposed to measure 16 primary data data observed and recorded or collected directly from respondents 17 secondary data data compiled both inside and outside the organization for some purpose other than the current investigation 18 population all the elements units or individuals of interest to researchers for a specific study 19 sample a limited number of units chosen to represent the characteristics of a total population 20 sampling the process of selecting representative units from a total population 21 probability sampling a type of sampling in which every element in the population being studied has a known chance of being selected for study 22 random sampling a form of probability sampling in which all units in a population have an equal chance of appearing in the sample and the various events that can occur have an equal or known chance of taking place 23 stratified sampling a type of probability sampling in which the population is divided into groups with a common attribute and a random sample is chosen within each group 24 non probability sampling a sampling technique in which there is no way to calculate the likelihood that a specific element of the population being studied will be chosen 25 quota sampling a non probability sampling technique in which researchers divide the population into groups and then arbitrarily choose participants from each group 26 mail survey a research method in which respondents answer a questionnaire sent through the mail 27 telephone survey a research method in which respondents answers to a questionnaire are recorded by an interviewer on the phone 28 telephone depth interview an interview that combines the traditional focus group s ability to probe with the confidentiality provided by telephone surveys 29 personal interview survey a research method in which participants respond to survey questions face to face 30 in home door to door survey a personal interview that takes place in the respondent s home 31 shopping mall intercept interviews a research method that involves interviewing a percentage of individuals passing by intercept points in a mall 32 on site computer interview a variation of the shopping mall intercept interview in which respondents complete a self administered questionnaire displayed on a computer monitor 33 online survey a research method in which respondents answer a questionnaire via email or on a website 34 crowdsourcing calls for taking tasks usually performed by a marketer or researcher and outsourcing them to a crowd or potential market through an open call 35 statistical interpretation analysis of what is typical and what deviates from the average 36 marketing information system MIS a framework for managing and structuring information gathered regularly from sources inside and outside the organization 37 database a collection of information arranged for easy access and retrieval 38 single source data information provided by single marketing research firm 39 big data massive data files that an be obtained from both structured and unstructured data bases 40 marketing decision support system MDSS customized computer software that aids marketing managers in decision making 41 5 steps to the marketing research process locating and defining designing collecting interpreting reporting a Ch 11 42 Good tangible physical entity 43 Service an intangible result of the application of human and mechanical efforts to people or objects 44 idea a concept philosophy image or issue 45 consumer products products purchases to satisfy personal and family needs 46 business products products bought to use in a firms operations to resell or to make term products 47 convenience products relatively inexpensive frequently purchased items for which buyers exert minimal purchasing effort 48 shopping products items for which buyers are willing to expend considerable effort in planning and making purchases 49 specialty products items with unique characteristics that buyers are willing to expend considerable effort to obtain 50 unsought products products purchases to solve a sudden problem products of which customers are unaware and products that people do not necessarily think of buying 51 installations facilities and non portable major equipment 52 accessory equipment equipment that does not become part of the final fuse product but is used in production or office activities 53 raw material basic natural materials that become part of the physical product 54 component parts items that become part of the physical product and are either finished items ready for assembly or items that need