BMKT 312 F13 C4 Review

Dependent variables are the outcomes of changing an

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Unformatted text preview: g salespersons, price, and type of product. Dependent variables are the outcomes of changing an independent variable. Managers typically have no direct control over these, yet they have a strong interest in them. Extraneous variables are those that may have some effect on a dependent variable but yet are not independent variables. BMKT 312 C4 Study Guide 2 10. What are the two types of validity in experimentation? How do we establish them? An experiment is valid if: (a) the observed change in the dependent variable is, in fact, due to the independent variable; (b) if the results of the experiment apply to the world outside the experimental setting. Two forms of validity are used to assess the overall validity of an experiment: internal and external. Internal validity is concerned with the extent to which the change in the dependent variable was actually due to the independent variable. External validity refers to the extent that the relationship observed between the independent and dependent variable during the experiment is generalizable to the world outside the experiment. We distinguished between laboratory and field experiments. Laboratory experiments are those in which the independent variable is manipulated and measures of the dependent variable are taken in a contrived, artificial setting for the purpose of controlling the many possible extraneous variables that may affect the dependent variable. So lab experiments are better suited for establishing internal validity. Field experiments are those in which the independent variables are manipulated and the measurements of the dependent variable are made on test units in their natural setting. Field experiments are better suited for establishing external validity. 11. What are the characteristics of the various types of test marketing? Test marketing is the phrase used to indicate an experiment, study, or test that is conducted in a field or lab setting. It can be one of four types: standard, controlled, electronic, and simulated. The standard test market is one in which the researcher tests the product and/or marketing mix variables through th...
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