BA 396 Exam #1 ReviewPlease 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 InformationChapter 1: Marketing Research Overview1. What is marketing research? Short and long versions. The function that links the consumer, the customer, and the public to the marketer through information2. How is marketing research relevant to business and marketing? What is the role of marketingresearch? Used to identify and define market opportunities and problemsGenerate, refine, and evaluate marketing performance and strategiesMonitor marketing performance and make adjustments Improve understanding of marketing as a processUnderstand 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 issuesCollection- manages and implements data collectionAnalysis- resultsDissemination- communicates findings and implicationsUse of information- to help make decisions5. What is the marketing research process?Step 1- Problem definitionStep 2- Development of an approach to the problemStep 3- Research design formulationStep 4- fieldwork or data collectionStep 5- Data preparation and analysisStep 6- Report preparation and presentationChapter 2: Problem Definition and Developing an Approach1. What is problem definition? How and why is it important?It is the most critical step in a market research projectOnly when the problem is clearly defined can research be conducted properlyAll effort, time, and money will be wasted in the problem is misunderstood or ill definedIncorrect problem definition lead to incorrect or irrelevant findings, which may bias managerial decision making 2. What is involvement in problem definition?Discussion with decision makersInterviews with expertsSecondary data analysisQualitative researchBA 396 Exam #1 Review3. What is a problem audit?A comprehensive examination of a marketing problem with the purpose of understanding its origin and nature4. What characteristics should be taken into account when engaging in problem development?Prior history (what have they tried before)Possible courses of actionHow will the decision be made (By whom)What information is needed to answer the question How will the information be usedWhat 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 generalMarketing- information oriented, what info is needed, causes, narrow and specific6. 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 optionsState the problem in broad general terms and identify specific componentsBroad statement- provides perspective on the problem avoids second type of errorSpecific components- focus on key aspects of the problem and provide clear guidelines on how to proceed reducing first type of error7. What are the steps in developing an approach? Describe and know characteristics of each.Theory- objective/theoretical foundations, variables/constructs, relationshipsAnalytical Model- how do variables relate to one another, suggest direction, analytical (verbal, graphical, mathematical)Research Question-Refined statement about the problem phrased as a questionHypotheses- an unproven statement about a relationship between two or more variables that can be tested with empirical dataSpecific Information Needed- what information is needed to prove/disprove this hypothesisChapter 3: Research Design1. What is the purpose of research design?Is a plan for addressing the research objectives for hypotheses2. 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 making3. 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 analysis4. 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 data5. What should you do to clarify the design?6WsBA 396 Exam #1 ReviewWho- should we be studyingWhat- information should be gatheredWhen- should the info be gatheredWhere- should participants be contacted/surveyed/interviewedWhy- is the marketing research being conductedWay- how are we going to collect the info6. Describe cross-sectional and longitudinal designs. Know and understand examples. What are the advantages and disadvantages of each?Cross Sectional Design- at one moment in timeSingle cross sectional designs- only one sample info is obtained onceMultiple cross sectional design- 2 or more samples info obtained only once from eachCohort analysis- a series of surveys conducted at appropriate time intervalsLongitudinal Design- Over time, same sample measured repeatedly, expensive and complicated7. 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- Experiments8. 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 sampling10. What are the types of non-sampling errors? Non response error- arises when some of the respondents included in the sample do not respondResponse error- arises when respondents give inaccurate answers or their answers are misrecorded or