Mkt 340 - Exam 2 Review

Mkt 340 - Exam 2 Review - Mkt 340 Fall 2006 EXAM 2 REVIEW...

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Mkt 340 Fall 2006 EXAM 2 REVIEW Please make sure you cover these topics when reviewing for Exam 2. Additional issues discussed in class will also covered in the exam. MARKETING RESEARCH (Chapter 8) Understanding the MR process 1. Define the problem 2. Develop the research plan 3. Collect relevant information by specifying 4. Develop findings 5. Take marketing actions Sampling issues – probability vs nonprobability sampling Probability is using a precise rule set to select the sample, so all have an equal chance to get selected. Nonprobability is the use of arbitrary judgments such as the 50 students closest to the college. Many are excluded. Primary vs secondary data, observation data Primary data is newly collected for the project. Secondary data have already been recorded before the project takes place. Observation data is obtained by actually watching how people behave, such as Nielsen’s TV research. Ethnographic research Trying to discover subtle emotional reactions as consumers encounter products in their “natural use environment” such as home, car, hotel, etc. Survey methodologies – individual, mall intercept, etc Individual is one on one, focus groups have 6 to 10 past/present/future customers that discuss opinions, mall intercept meets people in the mall for convenience, Nature, use, and purpose of focus group method Asks opinions, how they use products, what they want to see changed. Often in rooms with one way mirrors so researchers can view reactions. Peer support Questions and questionnaire development – open-ended vs closed-ended questions Open-ended allows respondents to express opinions, ideas or behaviours in their own words without being forced to choose among alternatives. Captures the voice of the respondent. Close-ended are fixed alternatives, a selection of predetermined choices. Scaling methods – Likert, Semantic differential, etc Likert indicates the extent to which one agrees or disagrees to the question. Semantic has adjectives on both ends, user picks a space inbetween. Panels, experimental design, test market, etc Panels are samples of consumers from which a series of measurements are taken. Experiments involve manipulating factors under tightly controlled conditions to test
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This note was uploaded on 03/27/2008 for the course MKT 340 taught by Professor Wong during the Spring '08 term at Iowa State.

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Mkt 340 - Exam 2 Review - Mkt 340 Fall 2006 EXAM 2 REVIEW...

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