Marketing Research Study Guide

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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 >gathering information>analyzing data>communicating the findings and their implications Marketing research information is: not intuitive or haphazardly gathered -------------------------------------------------

>accurate and objective >relevant to all aspects of the marketing mix >limited by one’s definition of marketing Applied marketing research=conducted to address a specific marketing decision for a specific firm or organization. EXAMPLE =Should McDonald’s add Italian pasta dinners to its menu? Basic marketing research= conducted without a specific decision in mind that usually does not address the needs of a specific organization (Attempts to expand the limits of marketing knowledge in general. Not aimed at solving a pragmatic problem) EXAMPLE=Do consumers experience cognitive dissonance in low-involvement situations? Marketing Concept=A central idea of marketing that involves focusing on how the firm provides value to customers more than on the physical product or production process -------------------------------------------------

Developing and implementing a marketing strategy 4 STAGES:
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1.Identifying and evaluating market opportunities 2.Analyzing market segments and selecting target markets 3.Planning and implementing a marketing mix that will provide value to customers and meet organizational objectives 4.Analyzing firm performance -------------------------------------------------

Data=Facts or recorded measures of certain phenomena (things or events). Information=Data formatted (structured) to support decision making or define the relationship between two facts Exploratory Research=Conducted to clarify ambiguous situations or discover ideas that may be potential business opportunities >Initial research conducted to clarify and define the nature of a problem.>Does not provide conclusive evidence >Subsequent research expected >Particularly useful in new product development. >Exploratory Research and Problem Solving >Symptoms – observable cues that serve as a signal of a problem because they are caused by that problem. -------------------------------------------------

Describes research=characteristics of objects, people, groups, organizations, or environments. >Addresses who, what, when, where, why, and how questions. -------------------------------------------------

>Considerable understanding of the nature of the problem exists. -------------------------------------------------
>Does not provide direct evidence of causality.
Diagnostic analysis=Seeks to diagnose reasons for market outcomes and focuses specifically on the beliefs and feelings consumers have about and toward competing products -------------------------------------------------

CASUAL Research=Research conducted to identify cause and effect relationships (inferences) Evidence of causality. One event made another happen (heat causes ice to melt) -------------------------------------------------

Temporal sequence—the appropriate causal order of events. Concomitant variation—two phenomena vary together. Nonspurious association= as absence of alternative plausible explanations -------------------------------------------------

Experimental variable=Represents the proposed cause and is controlled by the researcher by manipulating it Deliverables=The consulting term used to describe research objectives to a research client. -------------------------------------------------

Research proposal=A written statement of the research design emphasizing what the research will accomplish. Theory=A formal, logical explanation of some events that includes predictions of how things relate to one another. Hypothesis=A...
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