Marketing Research and Analytics Overview
41 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to Lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

Which principle emphasizes the need for honest communication in market research?

  • Confidentiality of information
  • Transparency to the subjects
  • Straightforward and honest (correct)
  • Voluntary informed consent

What does GDPR primarily aim to protect?

  • Consumers' privacy through control over personal data (correct)
  • The financial interests of companies
  • Public data from misuse
  • Commercial data from leakage

What aspect must be considered when conducting market research to ensure ethical integrity?

  • Increasing the sample size for better results
  • Balancing needs of individuals with clients and professional activities (correct)
  • Prioritizing corporate interests over individual rights
  • Maximizing data collection efficiency

What is a key requirement for researchers conducting studies at the University of Antwerp?

<p>Obtaining pre-approval from the Ethical Advisory Committee (C)</p> Signup and view all the answers

Which principle is vital for ensuring that participants in market research are not negatively impacted?

<p>Ensuring participants aren’t harmed or adversely affected (B)</p> Signup and view all the answers

What is the primary purpose of market research?

<p>To systematically gather information for decision making (D)</p> Signup and view all the answers

Which of the following best describes marketing analytics?

<p>Systematic collection and analysis of big data for insights (A)</p> Signup and view all the answers

Which of the following activities is not a function of a marketing information system?

<p>Improving leadership skills of marketing executives (B)</p> Signup and view all the answers

What is the main focus of customer insight in marketing?

<p>Gaining a deeper understanding of customers (C)</p> Signup and view all the answers

What kind of information does competitive intelligence provide?

<p>Insights into current and future competitor behaviors (C)</p> Signup and view all the answers

Which of the following statements is false regarding marketing research?

<p>It is primarily concerned with product development. (B)</p> Signup and view all the answers

How is marketing analytics primarily used in marketing?

<p>To obtain insights into marketing performance (B)</p> Signup and view all the answers

Which source is not typically an internal resource for gathering competitive intelligence?

<p>Distributors (D)</p> Signup and view all the answers

What is the primary goal of projective techniques in qualitative research?

<p>To detect underlying feelings and motives (A)</p> Signup and view all the answers

What is a common disadvantage of focus group discussions?

<p>They can be influenced by dominant group members (C)</p> Signup and view all the answers

Which type of sampling allows the researcher to select members based on ease of access?

<p>Convenience sample (C)</p> Signup and view all the answers

What is a key disadvantage of qualitative research?

<p>It can be difficult to analyze and interpret data. (D)</p> Signup and view all the answers

What must be demonstrated for validity in research?

<p>The data accurately describes the phenomena measured. (D)</p> Signup and view all the answers

What type of test is used to examine the strength of associations between concepts in memory?

<p>Implicit association test (C)</p> Signup and view all the answers

What is a potential issue when conducting quantitative research?

<p>It lacks depth of insight. (B)</p> Signup and view all the answers

What is an implication of using social desirability as a bias in qualitative research?

<p>It can lead to inaccurate responses. (B)</p> Signup and view all the answers

Which method provides a rehearsal of the research approach before the main study?

<p>Pilot testing (D)</p> Signup and view all the answers

What is the purpose of using a topic guide in qualitative interviews?

<p>To ensure that the discussion remains open and indirect. (B)</p> Signup and view all the answers

Which statistical method is most often used to analyze categorical data?

<p>Analysis of crosstabs (B)</p> Signup and view all the answers

What does Cronbach’s alpha assess in research design?

<p>Data reliability (A)</p> Signup and view all the answers

What is a common method for personalizing surveys to stimulate respondent involvement?

<p>Mentioning the survey deadline (B)</p> Signup and view all the answers

Which of the following is true about neuromarketing?

<p>It can improve decision-making through neuro-technology. (B)</p> Signup and view all the answers

What is a primary characteristic of big data?

<p>High-volume information processed in real-time (D)</p> Signup and view all the answers

Which of the following is NOT a type of marketing research objective?

<p>Diagnostic research (C)</p> Signup and view all the answers

What type of research aims to uncover underlying motives and feelings?

<p>Qualitative research (D)</p> Signup and view all the answers

What is the purpose of exploratory research?

<p>To formulate new concepts or hypotheses (D)</p> Signup and view all the answers

Which type of data is considered external secondary data?

<p>Annual reports from market research companies (B)</p> Signup and view all the answers

Which research method is characterized by predetermined standardized questions?

<p>Quantitative research (C)</p> Signup and view all the answers

What is the primary focus of descriptive research?

<p>Describing key variables and market characteristics (C)</p> Signup and view all the answers

What type of internal data includes structured formats like sales reports?

<p>Structured data (A)</p> Signup and view all the answers

Which service provides continuous market research for multiple clients?

<p>Syndicated services (B)</p> Signup and view all the answers

What is a common characteristic of qualitative research?

<p>Involves a holistic understanding of systems (D)</p> Signup and view all the answers

Which of the following is an example of data exhaust?

<p>Data collected from previous purchase behaviors (A)</p> Signup and view all the answers

Which of the following research methods is NOT commonly associated with qualitative research?

<p>Online surveys (C)</p> Signup and view all the answers

What is the main role of the researcher in qualitative research?

<p>Involved participant using open-ended questions (C)</p> Signup and view all the answers

Which variable is NOT typically measured in panel data?

<p>Employee satisfaction (B)</p> Signup and view all the answers

Flashcards

Marketing Research

The systematic gathering and interpretation of information about individuals or organizations to gain insights and support decision-making.

Marketing Analytics

The systematic collection, management, and analysis of data using statistical methods to glean insights into marketing performance, maximize marketing control, and optimize return on investment.

Marketing Research Focus

Work undertaken to understand how to make specific decisions on marketing strategies.

Customer Insight

A deep understanding of customer needs, behaviors, and motivations that provides valuable insights for marketing decision-making.

Signup and view all the flashcards

Marketing Information System (MIS)

A formalized set of procedures for generating, analyzing, sorting, and distributing information on an ongoing basis for decision-makers.

Signup and view all the flashcards

Competitive Intelligence

Information that offers insights into the present and future actions of competitors.

Signup and view all the flashcards

Marketing Research Process

A process to systematically identify and define problems and opportunities, generate and evaluate marketing actions, monitor performance, and improve understanding of marketing.

Signup and view all the flashcards

Industry Analysis

Information that provides insights into the structure and characteristics of an industry, including demand, market share, customer demographics, etc.

Signup and view all the flashcards

Informed Consent

Research participants must freely agree, knowing all the relevant information, to participate in the study.

Signup and view all the flashcards

Confidentiality

Data collected through market research must be used responsibly, ensuring participants' identities and information are kept secret.

Signup and view all the flashcards

GDPR (General Data Protection Regulation)

This regulation aims to protect individuals' personal information by giving them control over their data.

Signup and view all the flashcards

Researcher Responsibility

Ethical principles in market research aim to ensure participants are not harmed or negatively affected by the research process.

Signup and view all the flashcards

EASHW Pre-Approval

The University of Antwerp's Ethical Advisory Committee for Social Sciences and Humanities (EASHW) reviews all research proposals to guarantee their ethical integrity.

Signup and view all the flashcards

What is Big Data?

The systematic gathering and interpretation of high-volume, high-velocity, and/or high-variety data using cost-effective innovative forms of information processing to enable enhanced insight, decision-making, and process automation.

Signup and view all the flashcards

What is Data Exhaust?

Data collected passively, like purchase data or website usage information.

Signup and view all the flashcards

What is the Marketing Research Process?

The process of defining a problem, designing research, collecting data, analyzing it, and reporting findings.

Signup and view all the flashcards

What is the Management Problem?

A statement of the problem from a business perspective. It describes the situation that needs investigation.

Signup and view all the flashcards

What is the Marketing Research Question?

A clear and concise question that guides the research. It aims to answer why a problem exists.

Signup and view all the flashcards

What is the Research Plan?

A plan that outlines the type of research needed to answer the research question.

Signup and view all the flashcards

What is Exploratory Research?

Gaining a better understanding of a problem to develop hypotheses or new concepts.

Signup and view all the flashcards

What is Descriptive Research?

Describing key variables like market characteristics or spending patterns.

Signup and view all the flashcards

What is Causal Research?

Determining if one variable causes an effect in another variable.

Signup and view all the flashcards

What is Predictive Research?

Predicting future outcomes, like events or behavior.

Signup and view all the flashcards

What is Prescriptive Research?

Guiding future actions based on research insights.

Signup and view all the flashcards

What is Primary Research?

Collecting data for the first time, specifically for the current project.

Signup and view all the flashcards

What is Secondary Research?

Gaining access to existing research data, also known as desk research.

Signup and view all the flashcards

What is Qualitative Research?

Research methods using small samples and open-ended questions to uncover underlying motives and feelings, focusing on meaning rather than measurement.

Signup and view all the flashcards

What is Quantitative Research?

Research methods relying on standardized questions from many respondents, focusing on quantitative data analysis using statistical methods.

Signup and view all the flashcards

Projective Techniques

Techniques used to understand consumer behavior by revealing their subconscious thoughts, emotions, and desires.

Signup and view all the flashcards

Word Association Test

A word association test asks respondents to quickly provide the first word that comes to mind when a certain word is presented, uncovering hidden associations and attitudes.

Signup and view all the flashcards

In-depth Interviews & Focus Group Discussions

In-depth interviews and focus group discussions aim to understand the underlying feelings, motives, and experiences of consumers.

Signup and view all the flashcards

Focus Group

A focus group is a small group of 'typical' consumers (6-12 people) who react to a stimulus like an advertisement or product concept, providing insights into their reactions and group dynamics.

Signup and view all the flashcards

Probability Sampling

A sampling method where each member of the population has an equal chance of being selected.

Signup and view all the flashcards

Quota Sampling

A sampling method where researchers use criteria such as gender, ethnicity, or other customer characteristics to select participants ensuring the sample reflects the population's demographics.

Signup and view all the flashcards

Convenience Sampling

A sampling method in which researchers select participants who are easily accessible.

Signup and view all the flashcards

Snowball Sampling

A sampling method where participants are selected based on referrals from existing participants.

Signup and view all the flashcards

Reliability

A measure of how consistent the data is if the study is repeated.

Signup and view all the flashcards

Validity

A measure of whether the data accurately reflects the phenomenon it aims to measure.

Signup and view all the flashcards

Analyzing Qualitative Data

The process of analyzing data collected from qualitative research, involving iterative coding and interpretation of data to identify patterns and themes.

Signup and view all the flashcards

Descriptive Statistics

Statistical methods used to summarize and describe quantitative data, including measures such as frequencies, means, medians, minimums, and maximums.

Signup and view all the flashcards

Analysis of Crosstabs

A statistical test used to analyze categorical data, comparing the frequency distribution of two or more groups.

Signup and view all the flashcards

T-test

A statistical test used to determine if the mean of a normally distributed quantity deviates from a given value.

Signup and view all the flashcards

Technical Report

A technical report that summarizes the research findings, including research questions, objectives, used measures, sample description, executed analyses, main findings, interpretations, conclusions, recommendations, and limitations.

Signup and view all the flashcards

Study Notes

Marketing Research and Analytics

  • Marketing Research: Systematic gathering and interpretation of information about individuals/organizations to gain insight and support decision-making. It aims to understand factors influencing industry structure, including demand, market share, volumes, and customer characteristics. This includes identifying and defining marketing opportunities and problems, generating and evaluating marketing actions, monitoring performance, and improving marketing process understanding.

  • Marketing Analytics: Systematic collection, management, and analysis of data (including big data) using mathematical/statistical methods. Its goal is to extract insights into marketing performance, improve marketing control instruments, and maximize ROI.

Customer Insight

  • Customer Insight: Understanding customers is fundamental to the marketing concept. Continuous marketing information supports decision-making, and research is a key element of marketing practice.

  • Marketing Information System: A formalized set of procedures for generating, analyzing, sorting, and distributing information to decision-makers on an ongoing basis.

  • Competitive Intelligence: Information about current and future competitor behavior. Sources can be internal (executives, engineers, salesforce) or external (publications, observations, patent applications, suppliers, customers, former employees).

Big Data and Marketing Analytics

  • Big Data: Systematic gathering and interpretation of high-volume, high-velocity, and high-variety data. Cost-effective, innovative processing methods enable enhanced insight, better decision-making, and process automation. Different data sources include public, private, data exhaust (passively collected), community (e.g., online reviews), and self-quantification data.

The Marketing Research Process

  • Step 1: Problem Definition

    • Management problem: A new store's sales fail to meet expectations, possibly due to a competitor.
    • Marketing research question: Why aren't sales meeting expectations? (e.g., is competition taking customers, is online shopping increasing?)
    • A marketing research proposal outlines the research process.

  • Step 2: Decide the Research Plan

    • Research Types
      • Exploratory: Understanding the problem to develop hypotheses or new concepts.
      • Descriptive: Describing variables like market characteristics and spending patterns.
      • Causal: Determining if one variable causes an effect on another (often experimental).
      • Predictive: Forecasting future outcomes.
      • Prescriptive: Guiding future actions.
    • Research Source
      • Primary: Original research for the first time.
      • Secondary: Utilizing results of previously conducted research (desk research).
    • Methodology
      • Qualitative: Involves small samples, open-ended questioning to understand motives and feelings. Data is very difficult to replicate.
      • Quantitative: Uses standardized questions to gather data from many respondents. Data is quantified and analyzed statistically.
    • Data Sources (internal/external)
      • Internal (secondary): Existing company information (sales reports, plans, prior research, transactions, financials).
      • External (secondary): Information bought or collected from outside sources (government, trade press, reports, internet).

  • Syndicated Services: Market research services commissioned for multiple clients. (e.g., Gfk consumer panels, Nielsen Retail Index).

  • Panel Research: Continuous research (tracking).

  • Consumer Panels: Data over time of multiple variables (market size, sales, share, prices).

    • Quantitative/Qualitative Methods Comparison Table (see details in the document).

  • Step 3: Undertake Data Collection

    • Reliability: Data will be replicated in a future study.

    • Validity: Data accurately reflects the phenomenon being measured.

    • Influencing Response Rate: Survey incentives, clear expectations, and follow-ups are crucial. Sampling size depends on the type (Qualitative < 30; Quantitative depends on population size, effect size, reliability).

    • Sampling Methods:

      • Probability Sampling: Each member has an equal chance, needs a precise population.
      • Quota Sampling: Researchers select based on criteria (gender, ethnicity).
      • Convenience Sampling: Selection based on ease of access.
      • Snowball Sampling: Selection by referral.

  • Step 4: Undertake Data Analysis/Interpretation

    • Qualitative: Coding and interpretation (iterative).
    • Quantitative: Descriptive statistics (frequencies, means), reducing multi-item scales (e.g., factor analysis, Cronbach's alpha), testing hypotheses (crosstabs, t-tests, ANOVA), forecasting (linear regression, conjoint analysis).

  • Step 5: Write the Report and Deliver the Presentation (detailed in provided text).

Marketing Research and Ethics

  • Key Principles (Market Research Society): Informed consent, honesty, transparency, confidentiality, respect for participants, avoiding harm.
  • GDPR: Mandates data protection for individuals within the EU. Companies need to protect the personal data of individuals within the EU.
  • University of Antwerp: Ethical approval from EASHW committee for social sciences.

Studying That Suits You

Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

Quiz Team

Description

Explore the fundamentals of marketing research and analytics. This quiz covers systematic methods for gathering, interpreting data and understanding customer insights that support strategic decision-making in marketing. Test your knowledge on key concepts and practices in the field of marketing.

More Like This

Marketing Research Process and Technological Impact Quiz
16 questions

Marketing Research Process and Technological Impact Quiz

UnmatchedLight avatar
UnmatchedLight
Behavior-Based Customer Value Analysis
18 questions

Behavior-Based Customer Value Analysis

TerrificString avatar
TerrificString
Marketing Segmentation
18 questions

Marketing Segmentation

BeauteousTeal avatar
BeauteousTeal
Customer Marketing Analytics Lecture 3
37 questions

Customer Marketing Analytics Lecture 3

IrreproachableEinsteinium avatar
IrreproachableEinsteinium
Use Quizgecko on...
Browser
Open
Browser
Browser