○ Post purchase evaluation ■ Compare expectations of product performance to actual performance ● Exceed expectations = satisfaction ● Don’t meet them = dissatisfaction ● Differentiate among routinized response behaviour, limited problem solving, and extended problem solving by consumers ○ Routinized response behaviour refers to repeat purchases made of the same brand or limited group of items ○ Limited problem solving occurs when a consumer has previously set criteria for a purchase but then encounters a new brand or model ○ High- involvement purchase decisions usually require extended problem solving Chapter 8: ● Describe the development of the marketing research function and its major activities ○ Marketing research activities are (1) determining market potential, market share, and market characteristics and (2) conducting sales analyses and competitive product studies. ● Explain the steps in the marketing research process ○ 1. Defining the Problem: Distinguish between symptoms and the problem 2. Conducting Exploratory Research: Process of discussing a marketing problem with informed sources both within and outside the firm and examining information from secondary sources. This includes speaking with employees as well as evaluating company records, sales and profit analyses, and competitive data. ○ 3. Formulating a Hypothesis: A tentative explanation for some specific event ○ 4. Creating a Research Design: A master plan or model for conducting research ○ 5. Collecting Data (Primary and Secondary) ○ 6. Interpreting and presenting the Research Information ● Distinguish between primary and secondary data and identify the sources of each type ○ Secondary data – Previously published information ○ Primary data – Information collected specifically for the investigation at hand ● Explain the different sampling techniques used by marketing researchers and identify the methods by which marketing researchers collect primary data ○ Sampling Techniques
■ Population is the total group of people the researcher wants to study. ■ Sample is a segment of the population that has been selected to represent the population as whole. ● Sampling – process of selecting survey respondents or research participants ● Sampling Plans - address the who (sampling unit), how many (sample size), and how to choose decisions of drawing a sample (probability or non-probability). ○ Primary ■ Observation ■ Surveys and Interviews ■ Controlled experiments ● Explain the challenges of conducting marketing research in global markets and outline the most important uses of computer technology in marketing research ○ Marketing Information System (MIS) ■ A planned, computer-based system designed to provide decision makers with a continuous flow of information relevant to their areas of responsibility ○ Marketing Decision Support System (MDSS) ■ o Marketing information system component that links a decision maker with relevant databases and analysis tools ● Identify the major types of forecasting methods
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- Spring '14