Marketing Research and Information Systems

· Understand the steps, in order, in the market research process (locating and defining issues and problems, etc.)

1. Locating and defining issues and problems

2. Designing research project

3. Collecting data

4. Interpreting research, findings, and

5. Reporting research findings

· What is a hypothesis

Hypothesis – an informed guess or assumption about a certain problem or set of circumstances.

· Know the two types of research (exploratory, conclusive) and understand when it is appropriate to use each one; conclusive has sub-types

Exploratory research – research conducted to gather more information about a problem or to make a tentative hypothesis more specific. The main purpose of exploratory research is to better understand a problem or situation and/or to help identify additional data needs or decision alternatives.

Conclusive – research designed to verify insights through objective procedures and to help marketers in making decisions. It is used when the marketer has in mind one or more alternatives and needs assistance in the final stages decision making.

· Understand the difference between research reliability and research validity

Research reliability – a condition existing when a research technique produces almost identical results in repeated trials.

Research validity – a condition existing when a research method measures what it is supposed to measure.

· Secondary data vs. primary data—what the advantages and disadvantages to each type

Primary data – data observed and recorded or collected directly from respondents.

Secondary data - data complied both inside and outside the organization for some purpose other than the current investigation

· Sources of secondary data (government internet site/publications, trade associations, etc.)

Sources of secondary data:

– Internal

– External

• Periodicals

• Government publications

• Trade associations

• Syndicated services

• Internet

· Be able to define a sample

Sample – a limited # of units chosen to represent the characteristics of the population.

· Sampling methods (probability and non-probability)—both of these methods have subtypes

Probability sampling – a sampling technique in which every element in the population being studied has a known chance o being selected for study.

§ Random sampling – a type of probability sampling in which all units in a population have an equal chance of appearing in a sample.

§ Stratified sampling – a type of probability sampling in which the population is divided into groups according to common attribute, and a random sample is then chosen within each group.

Non-probability sampling – a sampling technique in which there is no way to calculate the likelihood that a specific element of the population being studied will be chosen.

§ Quota sampling – a nonprobability sampling technique in which researches divide the population into groups and then arbitrary choose participants from each group.

· Be able to compare and contrast the two methods of collecting primary data (observation, survey)

· Advantages and disadvantages of all survey methods (mail questionnaire, telephone interview, etc.)

Дата добавления: 2015-11-16