BA 396 Exam 1 Review Please note that the review sheet is just a guide and that questions for the exam will come from lectures videos discussions and required readings Required Reading Chapters 1 2 3 4 Census Information Chapter 1 Marketing Research Overview 1 What is marketing research Short and long versions The function that links the consumer the customer and the public to the marketer through information 2 How is marketing research relevant to business and marketing What is the role of marketing research Used to identify and define market opportunities and problems Generate refine and evaluate marketing performance and strategies Monitor marketing performance and make adjustments Improve understanding of marketing as a process Understand customers 3 Describe applied and basic research Applied to better understand the market Basic to expand the frontiers of knowledge 4 What are the types of marketing research Identification specifies the information necessary to address these issues Collection manages and implements data collection Analysis results Dissemination communicates findings and implications Use of information to help make decisions 5 What is the marketing research process Step 1 Problem definition Step 2 Development of an approach to the problem Step 3 Research design formulation Step 4 fieldwork or data collection Step 5 Data preparation and analysis Step 6 Report preparation and presentation Chapter 2 Problem Definition and Developing an Approach 1 What is problem definition How and why is it important It is the most critical step in a market research project Only when the problem is clearly defined can research be conducted properly All effort time and money will be wasted in the problem is misunderstood or ill defined Incorrect problem definition lead to incorrect or irrelevant findings which may bias managerial decision making 2 What is involvement in problem definition Discussion with decision makers Interviews with experts Secondary data analysis Qualitative research BA 396 Exam 1 Review 3 What is a problem audit A comprehensive examination of a marketing problem with the purpose of understanding its origin and nature 4 What characteristics should be taken into account when engaging in problem development Prior history what have they tried before Possible courses of action How will the decision be made By whom What information is needed to answer the question How will the information be used What is the corporate culture as it relates to decision making 5 Describe the management vs marketing research problem Management Action oriented what does the DM need to do symptoms broad and general Marketing information oriented what info is needed causes narrow and specific 6 What mistakes can be made in defining the research problem How can you avoid them Avoid defining the research problem too broadly makes it not actionable also avoid too narrowly this eliminates interesting options State the problem in broad general terms and identify specific components Broad statement provides perspective on the problem avoids second type of error Specific components focus on key aspects of the problem and provide clear guidelines on how to proceed reducing first type of error 7 What are the steps in developing an approach Describe and know characteristics of each Theory objective theoretical foundations variables constructs relationships Analytical Model how do variables relate to one another suggest direction analytical verbal graphical mathematical Research Question Refined statement about the problem phrased as a question Hypotheses an unproven statement about a relationship between two or more variables that can be tested with empirical data Specific Information Needed what information is needed to prove disprove this hypothesis Chapter 3 Research Design 1 What is the purpose of research design Is a plan for addressing the research objectives for hypotheses 2 How can research designs be classified Exploratory provides novel insight and understanding flexible and unstructured followed by further exploratory or only research conducted Conclusive test specific hypotheses formal and structured input into decision making 3 What is the purpose of exploratory research Methods Preliminary research when researcher does not have enough understating to proceed with the project Methods pilot and expert surveys qualitative research focus groups interviews observation secondary data analysis 4 What is the purpose of descriptive research Methods Describes market characteristics or functions has clear statement of problem specific hypotheses and detailed information needs Methods surveys secondary research panels observational and other data 5 What should you do to clarify the design 6Ws BA 396 Exam 1 Review Who should we be studying What information should be gathered When should the info be gathered Where should participants be contacted surveyed interviewed Why is the marketing research being conducted Way how are we going to collect the info the advantages and disadvantages of each Cross Sectional Design at one moment in time 6 Describe cross sectional and longitudinal designs Know and understand examples What are Single cross sectional designs only one sample info is obtained once Multiple cross sectional design 2 or more samples info obtained only once from each Cohort analysis a series of surveys conducted at appropriate time intervals Longitudinal Design Over time same sample measured repeatedly expensive and complicated 7 What is the purpose of causal research Methods Type of conclusive research where the major objective is to obtain evidence regarding cause and effect relationships Methods experimentations Quasi Experiments 8 What are the sources of error in research Total error variation between true mean value in pop and the observed mean value obtained in research population vs sample difference 9 Differentiate and describe random sampling error vs non sampling error Which is more problematic and why Random sampling error particular sample is an imperfect representation of the population Non sampling error error attributed to sources other than sampling 10 What are the types of non sampling errors Non response error arises when some of the respondents included in the sample do not respond Response error arises when respondents give inaccurate answers or their answers are misrecorded or misanalysed Chapter 4 Secondary Data 1 What is secondary data Primary data Identify and