Study Guide Quiz 1 – Marketing Research

Research studies that examine whether the value of one variable causes or determines that value of another variable.

-speed -substantially reduced costs -collect and analyze data simultaneously (real-time reporting) -target previously hard-to-reach demographics -facilitates longitudinal research -personalization -higher response rates

Expand limits of knowledge (validate theories through empirical testing; develop and measure constructs; etc.) Leads to general laws. Used in academia.

focuses on solving particular problems or investigating specific issues. Leads to rigor/ objectivity in data gathering and analysis. Used by practitioners.

The systematic and objective process of generating information to aid in making marketing decisions.

-reduce uncertainty in decision making -gather information/ systematic inquiry -to be proactive/ uncover opportunities -essential to repeatedly strive for quality and customer satisfaction -necessary for retaining existing customer base -need to continually monitor external environment

If the research problem is defined incorrectly, the research objectives will also be wrong, and the entire marketing process will be a waste of time and money. Focusing on the symptoms and not the true problem is often referred to as the iceberg principle. Approximately 10 percent of an iceberg rises out of the ocean; the remaining 90 percent is below the surface. Preoccupied with the obstacle they can see, managers may fail to comprehend and confront the deeper problem, which remains submerged.

1-indentification of the problem and statement of the research objectives 2-creation of the research design 3-choice of method of research 4-selection of the sampling procedure 5-collection of the data 6-analysis of the data 7-writing and presentation of the report 8-follow-up

A symbol or concept over which the researcher has some control and that is hypothesized to cause or influence the dependent variable.

A symbol or concept expected to be explained or influenced by the independent variable.

Research studies that answer the questions who, what, when, where, and how.

Preliminary research conducted to increase understanding of a concept, to clarify the exact nature of the problem to be solved, or to identify important variables to be studied.

A statement specifying the type of information needed by the decision make to help solve the management decision problem and how that information can be obtained efficiently and effectively.

A conjectural statement about a relationship between two or more variables that can be tested with empirical data.

Data that have been previously gathered.