MKT 450 Final Exam Review

Transcription

1 MKT 450 Final Exam Review The final exam will be constructed as follows: 1. Approximately 10 multiple-choice questions on the global research issues and marketing ethics material covered since exam three short answer questions on the global research and marketing ethics material covered since exam three ten point short answer questions on interpreting SPSS regression and ANOVA output (similar to exams 2 and 3) 4. Approximately 40 multiple-choice questions on material which is specifically identified below. Please note that material not mentioned below will not be on the final. Keep in mind that the final exam period is one hour and fifty minutes. Topic 1. Introduction my definition of marketing marketing concept fundamental activity of marketing fundamental activities of marketers definition of market Topic 2: Setting Marketing Objectives ultimate objectives: why so-named, recognize examples, know types (absolute, relative, profitability) qualities of good objectives: SMAC acronym, know what each letter means, and details Topic 3: Decision Problems, Research Questions, and Data Sources nature of primary data: qualitative versus quantitative (know the difference, limitations of both), know whether a certain research technique produces qualitative or quantitative data. nature of secondary data: know what it is, problems with secondary data (fit versus accuracy) nature of syndicated data: know what it is, three basic types (media studies, consumer panels, scanner data)

2 Topic 4: Exploratory Research focus group interviews: what they are, benefits, disadvantages depth interviews: what they are and how they differ from focus groups projective techniques: what they are, why they're used Topic 5: Conceptual Hypotheses variables: what they are, what operationalization means hypotheses: difference between conceptual and statistical hypotheses, parts to a statistical hypothesis test, how to structure statistical hypotheses tests. Topic 6: Questionnaire Development basics: difference between structured (i.e., closed ended) and unstructured (i.e., open ended) questions types of data and their properties: nominal, ordinal and ratio, be able to identify what types of data various questionnaire items produce types of closed-ended items: know and be able to write or identify types of items (category scale items, semantic differential items, Likert items, constant sum items, checklist items, yes/no items). know the difference between validity and reliability Topic 7: Experimentation Know what an experiment is and the differences, advantages, and disadvantages of lab versus field experimentation (including internal and external validity and how they apply to lab and field experiments). Know the roles of independent and dependent variables in experimentation. Topic 8: Survey Research characteristics of survey research methods of administration: researcher administered (in-person, phone), self-administered (mail, drop off etc), know the various advantages and disadvantages of each concerning response rate, cost, etc. nonresponse and nonresponse error (or "bias"): know what nonresponse and nonresponse error are. Topic 9: Sampling basic definitions: sample, population, census nonprobability samples: know what they are, be able to identify or define the main types (convenience samples, quota samples, judgment samples) probability samples: what "random" means, be able to identify or define the basic procedures (simple random sampling, systematic sampling, stratification, clustering, multistage sampling)

3 Topic 10: External Environment Cultural Environment: definition of culture, characteristics of culture (learned, shared, etc.), cultural universals (symbols, values including norms, myths, rituals) Competitive Environment: marketer s view of competition, definition of product category (subordination and superordination of categories from the basic level). Economic Environment: definitions of GDP, economic indicators (leading, lagging, coincident), measures of personal income (gross, disposable, discretionary) Topic 11: Describing Consumer and Organizational Markets Population Demographics demographic basics: definition of demographics, examples of demographic variables other population measures: be able to define birthrate, mortality rate, population density demographic variables important to explaining consumption: households (defined, importance to marketers) families (nuclear family, immediate family, extended family) income (measures of personal income: gross, disposable, discretionary and which measure of personal income most common to marketing research and why) population cohorts (defined, importance to marketers) Psychographics and Lifestyle Lifestyle variables: activities, interests, and opinions Lifestyle Predictors Market Segmentation reference groups: defined, reference group types (membership, formal, informal, aspirational, etc.) social class: defined, know the social classes of the "American Mainstream," achievement and ascribed dimensions, variables used in sociometric measurement of social class personality: defined, why trait measurement is preferred to state measurement by market researchers segmentation basics: definitions of market, product market, market segment and target market, what distinguishes consumers from organizational buyers. Three step market segmentation process: Step One - identify the product market: know the types of benefits (sensory, resource, psychological) and their levels of importance (motivational, preferential) Step Two - divide the product market into subgroups: bases of segmentation (know the

4 segmentation bases, know (very well) the theoretical relationships between them, know the procedure for describing subgroups) Step Three - select segments to be target markets: target selection strategies (undifferentiated, differentiated, concentrated), qualities of a good target market Describing Organizational Markets basic process for segmentation (simply know that it's the same three basic steps as with consumer segmentation) dividing product market into segments: Macrosegmentation typical variables, microsegmentation typical variables Topic 12: Consumer Decision Making Difference between extended, limited and nominal consumer decision making Definition of "Involvement" Problem Recognition: definition of problem, types of problems (needs versus opportunities), definition of motives Search: results of search (consideration set, acquisition set, evoked set) Alternative Evaluation: two basic steps to alternative evaluation, definition of evaluative criteria, definition of attitude (including components), know the ELM well (basic premise, central versus peripheral processing -- but do not focus heavily on multiattribute processing beyond knowing it belongs in the central route) Topic 13: Organizational Decision Making problem recognition: basic definition and differences with definition of consumer problem recognition search: factors affecting nature of search (organizational formalization and centralization, buygrid framework with new task, modified and straight rebuys) organizational alternative evaluation: how organizational evaluative criteria differ from consumer evaluative criteria in number, rationality, and complexity, factors affecting preference formation including individual factors (individual evaluative criteria, individual attitudes), and group factors (interaction structure) Topic 14: Purchase Outcomes Concept of Customer Satisfaction (basic definition, psychological dimensions, how transactionspecific satisfaction builds overall long term satisfaction) Cognitive Dissonance (effects, conditions, responses)

5 Topic 15: Statistics Know what kinds of data apply to which statistical procedures. Be able to look at questionnaire items, know what types of data they produce, then what type of statistical procedure to use to test a conceptual hypothesis. Know how t-tests work, be able to identify test and grouping variables. Understand how to interpret correlation coefficients and data plots (from class notes on correlation). Be able to interpret SPSS ANOVA and Regression Output. Expect problems very similar to those on Exams Two and Three. Understand p-values and statistical hypothesis testing for all procedures covered this semester. Topic 16: Global Research Understand that basic concepts and techniques of marketing research do not differ across cultures but that the details of executing a research project can differ greatly. Know (but not to list) the issues associated with survey research, experimentation, secondary data etc. covered in class. Know the two major impediments to conducting global research socio economic factors: (Know how sampling, data collection, and secondary data vary by economic development.) cultural factors: cross cultural equivalencies (You do not need to memorize them, but be able to recognize them if presented in a question). Know the translation strategies (direct, parallel, and back). Know the common pitfalls associated with conducting global research. (Again, you do not need to be able to list them from memory, but you should be able to recognize them if presented in a question.) Topic 17: Ethics Definition of ethical sensitivity, ethical content Understand the differences between deontological and teleological evaluations Top ethical issue facing marketing researchers