important notes final.docx - Chapter 1 Understand the difference between basic and applied marketing research Applied conducted to address a specific

important notes final.docx - Chapter 1 Understand the...

This preview shows page 1 - 3 out of 19 pages.

Chapter 1 Understand the difference between basic and applied marketing research. Applied: conducted to address a specific marketing decision for a specific firm or organisation. o E.g. should McDonald’s add Italian pasta dinners to its menu? Basic: conducted without a specific decision in mind that usually does not address the needs of a specific organisation; attempts to expand the limits of marketing knowledge in general; not aimed at solving a pragmatic problem. o E.g. do consumers experience cognitive dissonance in low-involvement situations? The business orientations (philosophies) Product-oriented: “I’m the only one producing X product” Production-oriented: reduce cost, produce more Marketing-oriented: embraces the marketing concept (understand, meet, exceed) The 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. Customer-oriented: decisions are made with a conscious awareness of their effect on the consumer. Emphasis on long-run profitability rather than short-term profits or sales volume. Cross-functional perspective: marketing is integrated across other business functions. Long-term, more valuable relationship. o Long-term value 1. Constantly understand needs and wants 2. Meet and exceed 3. Keep coming back Should we conduct marketing research? (likely a case study) Time: do we have enough time to do the study? Data availability: do we need data, or do we have data? Can we obtain relevant data or not? Nature of decision: nice to know, or need to know? Benefits vs. costs: how much do we need to pay and what do we get in return? Chapter 2 Understand the four characteristics that describe data. 1. Relevance: how pertinent are these particular facts to the situation at hand? 2. Completeness: do the data have the right amount of information? 3. Quality: how accurately do the gathered data match reality? 4. Timeliness: are the data not so old that they are irrelevant?
Image of page 1
Chapter 3 Classify marketing research as either exploratory, descriptive, or causal research. Exploratory: conducted to clarify ambiguous situations or discover ideas that may be potential business opportunities. o E.g. employee satisfaction; type: focus group Descriptive: describes characteristics of objects, people, groups, organisations, or environments. o Addresses the 6 Ws: who, what, when, where, why and how o E.g. phone or internet survey Causal: conducted to identify cause and effect relationships (inferences) o Evidence of causality (i.e. three things to prove a causal relationship) o 1. Temporal sequence: the appropriate causal order of events o 2. Concomitant variation: two phenomena vary together o 3. Non-spurious association: an absence of alternative plausible explanations “Ice cream is a spurious case of drowning” Prove that: 1. Ice cream had to be consumed before drowning 2. Ice cream consumption has to be related to drowning 3. Ice cream consumption is the only caused of drowning Questions: Why might we be seeing these increased drownings?
Image of page 2
Image of page 3

You've reached the end of your free preview.

Want to read all 19 pages?

  • Fall '16
  • researcher

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

Stuck? We have tutors online 24/7 who can help you get unstuck.
A+ icon
Ask Expert Tutors You can ask You can ask You can ask (will expire )
Answers in as fast as 15 minutes