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Baruch College, CUNY - MKT 3600MKT 3600 midterm notes

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MKT 3600 MIDTERM REVIEW Exploratory Research:  Goal: insights, defining issues or problem, protesting  Scale and cost  Examples: depth interviews, focus groups, pilot surveys, secondary research cheap, small sca ...

MKT 3600 MIDTERM REVIEW Exploratory Research:  Goal: insights, defining issues or problem, protesting  Scale and cost  Examples: depth interviews, focus groups, pilot surveys, secondary research cheap, small scale project  Ex: pilot service, case studies Descriptive Research:  Goal: accurate description of a market based on descriptive statistical variables  Scale and cost  Methodology: Statistical inferences from a sample to a population (target market)  Ex: representative survey, observation  Longitudinal research collected with panels (observation or surveys), cross-sectional research is collected mostly through surveys Casual research:  Goal: finding empirical support for a proposed cause & effect relationship between variables of interest. In the case of a classic market test, the goal is to evaluate success (sales) and advantages/ disadvantages of a marketing strategy  Scale and cost  Example: market test Primary and Secondary Data:  Primary Data: collected to solve the problem at hand.  Secondary data: was previously or independently gathered and is possibly relevant. o Example of secondary data: previous research done by the company (internal sec. data)  Other external secondary data: census data, syndicated research. Internal secondary data: sales, orders. Syndicated Data:  Syndicated services may provide data about retail sales and other retail descriptors (retail index) data about shopping and consumption behavior (consumer panels), media audience  Business model: High fixed costs because of expensive panels of stores or households. Syndicated research firms sell same data to several clients  Syndicated retail index data: dimensions (sales, market shares, retail prices, distribution). Distribution data in a syndicated retail index: coverage as proportion of all stores or as proportion of stores which account for highest overall retail sales (ACV) Qualitative research:  Goal: To tap into spontaneous thinking (or feelings) by consumers

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