Podcast
Questions and Answers
What is the main purpose of conducting marketing research?
What is the main purpose of conducting marketing research?
Which type of marketing research involves determining cause and effect relationships?
Which type of marketing research involves determining cause and effect relationships?
In marketing research, which type involves specifying how to use descriptive and diagnostic research to predict future outcomes?
In marketing research, which type involves specifying how to use descriptive and diagnostic research to predict future outcomes?
What is an example of descriptive research in marketing?
What is an example of descriptive research in marketing?
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Why is it important for companies to conduct diagnostic marketing research?
Why is it important for companies to conduct diagnostic marketing research?
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What aspect of the marketing process does predictive research mainly focus on?
What aspect of the marketing process does predictive research mainly focus on?
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What is the purpose of step #4 in the research process?
What is the purpose of step #4 in the research process?
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In research, what is a Decision Problem?
In research, what is a Decision Problem?
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What is a Dependent Variable in a causal study?
What is a Dependent Variable in a causal study?
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What does Temporal Sequence refer to in research?
What does Temporal Sequence refer to in research?
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What is the main purpose of Survey Research?
What is the main purpose of Survey Research?
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What distinguishes Observation Research from other forms of research?
What distinguishes Observation Research from other forms of research?
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What is the importance of correctly defining the problem in marketing research?
What is the importance of correctly defining the problem in marketing research?
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Which type of decision problems typically focus on planned changes in the marketing environment?
Which type of decision problems typically focus on planned changes in the marketing environment?
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What is the purpose of restating the research problem in marketing research?
What is the purpose of restating the research problem in marketing research?
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Which type of research study is conducted to determine why a strategy or tactic failed?
Which type of research study is conducted to determine why a strategy or tactic failed?
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Why is it important to challenge pre-existing assumptions when clarifying the research problem?
Why is it important to challenge pre-existing assumptions when clarifying the research problem?
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Which type of decision problems typically involve questions about planned changes in the marketing environment?
Which type of decision problems typically involve questions about planned changes in the marketing environment?
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What is the proactive role of marketing research in businesses?
What is the proactive role of marketing research in businesses?
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Why is it important to meet with clients when clarifying the research problem?
Why is it important to meet with clients when clarifying the research problem?
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What type of questions are typically asked in discovery-oriented decision problems?
What type of questions are typically asked in discovery-oriented decision problems?
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What is the purpose of conducting an evaluative research study?
What is the purpose of conducting an evaluative research study?
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What type of research study involves gathering and presenting statements of fact?
What type of research study involves gathering and presenting statements of fact?
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In marketing research, what does diagnostic research mainly focus on?
In marketing research, what does diagnostic research mainly focus on?
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What is the primary purpose of predictive research in marketing?
What is the primary purpose of predictive research in marketing?
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Which aspect differentiates observation research from other forms of marketing research?
Which aspect differentiates observation research from other forms of marketing research?
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What is the role of evaluative research in the marketing research process?
What is the role of evaluative research in the marketing research process?
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What is the purpose of preparing the Project Research Proposal in marketing research?
What is the purpose of preparing the Project Research Proposal in marketing research?
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Which method involves obtaining facts, opinions, and attitudes by interacting with respondents in marketing research?
Which method involves obtaining facts, opinions, and attitudes by interacting with respondents in marketing research?
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Why is it essential to watch for scope creep in the research process?
Why is it essential to watch for scope creep in the research process?
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What is the significance of Concomitant Variation in causal studies?
What is the significance of Concomitant Variation in causal studies?
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What distinguishes Probability Sampling from Non-Probability Sampling in data collection methods?
What distinguishes Probability Sampling from Non-Probability Sampling in data collection methods?
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Why is it crucial to establish a Temporal Sequence in research studies?
Why is it crucial to establish a Temporal Sequence in research studies?
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What is the importance of restating the research problem in marketing research?
What is the importance of restating the research problem in marketing research?
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Why is it important to challenge pre-existing assumptions when clarifying the research problem?
Why is it important to challenge pre-existing assumptions when clarifying the research problem?
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What is the main purpose of conducting marketing research?
What is the main purpose of conducting marketing research?
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What is a Dependent Variable in a causal study?
What is a Dependent Variable in a causal study?
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Why is it important for companies to conduct diagnostic marketing research?
Why is it important for companies to conduct diagnostic marketing research?
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What does Temporal Sequence refer to in research?
What does Temporal Sequence refer to in research?
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What is an example of descriptive research in marketing?
What is an example of descriptive research in marketing?
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What aspect of the marketing process does predictive research mainly focus on?
What aspect of the marketing process does predictive research mainly focus on?
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What is a Discovery-oriented Decision Problem?
What is a Discovery-oriented Decision Problem?
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Study Notes
Marketing Concept
- Marketing: planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.
- Importance of marketing research:
- Understand customers' needs and wants
- Identify target market and create matching brand identity and marketing mix
- Understand changes in the external environment and identify opportunities and threats
Types of Research Studies
- Basic research: expands frontiers of knowledge rather than solving a specific problem
- Applied research: solves a specific problem
- Programmatic research: develops marketing options through segmentation, opportunity analyses, or consumer attitudes and predict usage studies
- Selective research: tests decision alternatives
- Evaluative research: assesses program performance
Problem Definition Process
- Step #1: Meet the Client / Individuals Requesting Research - relationship building and understanding clients' perspectives
- Step #2: Clarify The Problem - challenge pre-existing assumptions and use symptoms to clarify the problem
- Step #3: Restate the Research Problem - restate decision problems in research terms
- Step #4: Select the Research Problem(s) to be Addressed - review trade-offs between benefits, importance, and costs
- Step #5: Prepare the Project Research Proposal - agreement on research objectives, study design, areas of questioning, budget, and timing
Causal Studies
- Dependent Variable: concept expected to be explained or influenced by the independent variable
- Independent Variable: concept over which the researcher has control and hypothesized to cause or influence the dependent variable
- Causal Order of Events: cause must occur before the effect
- Concomitant Variation: degree to which presumed cause and effect occur together and vary together
- Temporal Sequence: suggests causality based on timing
- Spurious Association: potential misinterpretation of cause and effect due to other variables
Data Collection Methods
- Survey Research: interviewer interacts with respondents to obtain facts, opinions, and attitudes
- Observation Research: descriptive research that monitors respondents' actions
- Experiments: measures causality by changing one or more variables and observing the effect on another variable
- Other Qualitative Research: focus groups, interviews, secondary research data analysis, and case studies
- Probability Sampling: sample a subset of the population with known probability of selection
- Non-Probability Sampling: subset of the population with unknown probability of selection
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Description
Test your understanding of marketing concepts including the marketing process, target market identification, brand identity, and marketing mix. Explore the importance of conducting marketing research to understand customers' needs, identify opportunities, and threats in the external environment.
