MKTG 471 Study Guide - Fall 2018, Comprehensive Midterm Notes - Marketing Mix, Time, Trust Law
12 Oct 2018
School
Department
Course
Professor
MKTG 471
MIDTERM EXAM
STUDY GUIDE
Fall 2018
Marketing 471 Lecture 1
What is Marketing Research
The systematic design, collection, interpretation, and reporting of information to help
marketers solve specific marketing problems or take advantage of marketing opportunites
What is the purpose of marketing research?
To inform the organization about:
Customers' needs and desires
Marketing opportunities
Changing attitudes and purchase patterns of customers
What are the two types of research?
Exploratory (Qualitative) and Conclusive (Quantitative)
What is exploratory research?
Research to gather more information about a problem or to make a tentative hypothesis more
specific
What are examples of Exploratory Research?
Focus Groups
Customer Advisory boards
What is conclusive research?
Research designed to verify insights through objective procedures to help marketers in the
making decision
find more resources at oneclass.com
find more resources at oneclass.com
What are kinds of conclusive research?
Descriptive and Experimental
What are the 5 steps of the marketing design process?
Locating and Defining Issue
Designing Research Project
Collecting Data
Interpreting Research Findings
Reporting Research Findings
What is the difference between Reliability and Validity?
Reliability is consistent results while validity is the results are measuring what they are
supposed to measure
What is the difference between Primary and Secondary data?
Primary Data is collected directly from respondents while secondary data is data compiled from
inside and outside the organization
Stratified Sampling
Type of probability sampling in which the population is divided into groups with a common
attribute.
What's an example of non-probability sampling?
Quota
10 Design Thinking Tools
Visualization, Journey Mapping, Value Chain Analysis, Mind Mapping, Rapid Concept
Development, Assumption testing, Prototyping, Customer co-creation, learning launches,
Storytelling
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
The systematic design, collection, interpretation, and reporting of information to help marketers solve specific marketing problems or take advantage of marketing opportunites. Research to gather more information about a problem or to make a tentative hypothesis more specific. Research designed to verify insights through objective procedures to help marketers in the making decision. Reliability is consistent results while validity is the results are measuring what they are supposed to measure. Primary data is collected directly from respondents while secondary data is data compiled from inside and outside the organization. Type of probability sampling in which the population is divided into groups with a common attribute. Visualization, journey mapping, value chain analysis, mind mapping, rapid concept. Development, assumption testing, prototyping, customer co-creation, learning launches, Development of a product closely related to existing products in the line but designed to specifically meet different customer needs. Changing one or more characteristics of a product and the original product drops from product line.
