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MKT30015 Exam Study
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- 1Definition of market researchthe 'systematic and objective identification, collection, analysis and dissemination of information for improving decision-making...related to the identification and solution of problems and opportunities in marketing
- 2Interpretivismconsiders a rational ordered view and denies the complexity. Also attempts to understand buyer behaviour and the underlying influences
Leans towards qualitative research - 3Positivismregards the world as a rational ordered place and attempts to understand the causal relationships in order to predict buyer behaviour
Leans towards quantitative research - 4Gap Analysisa marketing research technique
commonly used to analyze consumer attitudes toward service attributes.
The importance of service attributes and the relative performance of these
attributes are simultaneously assessed through gap analysis - 5Defined as the presence of strong, unique and favourable brand associations causing differential effects on customer responses to the marketing of the brandBrand Equity
- 6An example of projective research techniqueAsking participant to look through 20 images of people and then identify which ones they think would be regular kmart shoppers (qualitative technique)
- 7Name the 7 P's of MarketingProduct
Price
Place
Promotion
People
Process
Physical Evidence - 8Pros to secondary datauseful for exploratory data; defining problems and helping to design research; quick overviews; quick 'informed' decision making, and to validate or support findings. Furthermore, it is easily obtained and cheaper, as well as quicker to collect than primary data
- 9Cons to secondary datamay not exactly answer the question you are asking. The reliability of the data may also be brought into question, there is also a danger of becoming over-reliant on collecting secondary data as it is so cheap and can be quick
- 10The decision of whether to invest in research is made according toa trade off between cost and logistics versus the perceived value of the information.
- 11Potential pitfalls in the research processBackground/problem definition.
Defining the research target.
Selecting the research approach.
Data collection.
Data processing/analysis.
Presentation/reporting.
Appraisal/reflection on the research. - 12Stages of the Market Research Process1. Background / problem definition
2. Defining the research target
3. Selecting the research approach
4. Data collection
5. Data processing / analysis
6. Presentation and appraisal - 13The problem definition stage takes into account...the relevant background information, environmental context, information from a problem or opportunity audit, purpose of the project, specific decisions that management must make, information needed to make the decisions, the value and budget for the project.
- 14What is the tri-component model?views attitudes as comprising of three distinct components:
Cognitive
Affective
Conative - 15Tri-Component model: CognitiveMeasures learned beliefs and knowledge
- 16Tri-Component model: AffectiveMeasures emotions and feelings
- 17Tri-Component model: ConativeMeasures behaviour and response tendency
- 18In relation to sample sizes, what is a confidence level used for?To ensure with a degree of certainty that the result could not have occurred by chance
- 19In relation to sample sizes, what is a confidence interval used for?provides a level of accuracy which is not worse than +/- 5%
- 20Provide an example of elicitation in-depth interviewingAsking someone to describe a brand as a person
- 21Outlet environment - define atmosphericsthe tailoring of the retail/service environment to enhance the likelihood of desired effects or outcomes for users
- 22Define selective perceptionwe are able to only see one image at a time
Relevant for planogramming - 23Why does the 'price' element of the marketing mix have an impact on research design?Because price has a significant impact on customer decision making processes
- 24Cost-based pricingrefers to fixed and variable costs plus a margin
- 25Competition-based pricingResearching competitor prices and using this information to set a price
(could be lowest price guarantee, etc.) - 26Consumer-based pricinginvolves researching customer attitudes and willingness to pay
- 27Common promotion of communication objectives:Gaining attention.
Audience priming.
Breaking through competition noise or creating noise for competitors.
Raising awareness.
Raising TOM awareness.
Raising knowledge recall
Changing attitudes - 28Classical conditioning is useful forexplaining how consumers learn simple kinds of consumption behaviour.
eg. Familiar voices and faces are used to inspire excitement and grab attention. Sexy voices and images encourage excitement, attention and arousal. - 29Maslow's hierarchy of needs
- 30When researching motives, focus groups will frequently seek to understand associated:positive motivation
negative motivation
conflicting motives - 31Should ad concept testing and ad evaluation be qualitative or quantitative?It can be both
- 32Ad concept testing and ad evaluation aim to...ask the potential audience how interested they are in purchasing the product and determine it's perceived value
- 33Purpose of ad concept testingestablishes potential market appeal, gives the opportunity to tweak or modify the concept and establishes an overall concept preference
- 34Segmentationdividing a larger market into smaller pieces based on one or more meaningful, shared characteristics
- 35Steps in effective segmentation
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- Karteikarten am MKT30015 Exam Study, erstellt von Erin Walker am 05/02/2019.
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