MARK 373 EXAM TWO STUDY GUIDE
Account planner- the individual at an advertising agency primarily responsible for account planning.
Marketing research- the systematic gathering, recording and analysis of information to help managers make marketing decisions. Marketing Research does a number of things:
* It helps identify consumer needs and market segments
* It provides the information necessary for developing new products and devising marketing strategies * It enables managers to assess the effectiveness of marketing programs and promotional activities.
Advertising research- the systematic gathering and analysis of information specifically to facilitate the development or evaluation of advertising strategies, ads and commercials, and media campaigns. Before developing any advertising campaign, a company needs to know how people perceive its products, how they view the competition, what brand or company image would be most credible, and what ads offer the greatest appeal. To get this information, companies use advertising research. While marketing research provides the information necessary to make marketing decisions, advertising research uncovers the information needed for making advertising decisions.
STEPS IN THE RESEARCH PROCESS:
1. situation analysis and problem definition
-> first step in the marketing research process is to analyze the situation and define the problem. Many large firms have in-house research departments. Often marketing department also maintains a marketing information system (MIS) – a sophisticated set of procedures designed to generate a continuous, orderly flow of information for use in making marketing decisions. Most smaller firms don’t have dedicated research departments, and their methods for obtaining marketing information are frequently inadequate. 2. informal (exploratory) research
-> the second step in the process is to use informal research to learn more about the market, the competition, and the business environment, and to better define the problem. 3. construction of research objectives
-> once the exploratory research phase is completed, the company may discover it needs additional information that it can get only from doing primary research. 4. formal research
-> when a company wants to collect primary data directly from the marketplace about a specific problem or issue, it uses formal research. There are two types of formal research: qualitative and quantitative. 5. interpretation and reporting of findings
Primary data- research information gained directly from marketplace
Secondary data- information that has previously been collected or published
Qualitative research- research that tries to determine market variables according to unquantifiable criteria such as attitudes, beliefs, and lifestyle. * to get a general impression of the market, the consumer, or the product, advertisers typically start with qualitative research. This enables researches to gain insight into both the population whose opinion will be sampled and the subject matter itself.
Quantitative research- research that tries to determine market variables according to reliable, hard statistics about specific market conditions or situations. * to get hard numbers about specific marketing situations, they may perform a survey pr use some other form of quantitative research.
BASIC METHODS OF QUALITATIVE RESEARCH:
Projective techniques- in marketing research, asking indirect questions or otherwise involving consumers in a situation where they can express feelings about a problem or product. The purpose is to get an understanding of people’s underlying or subconscious feelings, attitudes, opinions, needs, and motives.
Intensive techniques- qualitative research aimed at probing the deepest feelings, attitudes, and beliefs of respondents through direct questioning. Typical methods include in-depth interviews and focus...
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