M303 Exam 1 - Marke ng Research, M303 (Market Research
IU Exam 1), M303 Exam #1, m303 exam 1| Updated New 2026
Marke ng Research
-About understanding the consumer
-Encompasses systema c methods of obtaining high quality info that is useful for decision-
making
Two Key Benefits of Marke ng Research
-Helps to avoid costly mistakes
-Iden fy unmet customer needs and desires
Fundamental Research
Broad scope, general truths
Applied Research
Narrow scope, to solve specific problem
Basic Research Process
WHY should we do research (MDP-management decision problem)
WHAT research should be done (MRP-marke ng research problem)
IS IT WORTH doing the research (value of info)
HOW should research be designed to achieve objec ves (Research Design, Data Collec on,
Analysis)
WHAT will we do with the research (Report & Strategic Recommenda ons)
Marke ng Research Approaches
Exploratory
Conclusive- pre planned(descrip ve & causal)
Exploratory Research
-provide direc on for any further research, discovery of ideas, Example: open ended ques ons
-disadvantages: researcher bias, lack of focus
Conclusive Research (Descrip ve)
,-describing the composi on & characteris cs of relevant groups, typical mul ple choice
ques on, understand overall popula on
-disad: unavailability of data, expensive
Conclusive Research (Causal)
-to iden fy cause and effect rela onships, Example: new packaging having an effect on cereal
sales
-disad: considerable background research, narrow
Secondary Data
-Data that was previously gathered by someone else for a separate purpose
-faster, cheaper
-Types: internal, external (published or commercial)
Primary Data
-Collec on of new data gathered by your or your firm
-"fits" be7er and is more current
Errors Related to Accuracy of Responses
Measurement
Surrogate Info
Ques on Non response
Measurement Error
Difference between the measurements obtained and the truth
Surrogate Informa on Error
We may not be able to observe the outcome of interest (noisy proxy)
Ques on Non-response Error
People who choose not to answer may differ from the people who do choose to answer
Errors Related to Improper Selec on of Respondents
Sampling
Selec on
Frame
Survey Non Response
Sampling Error
, Sample not representa ve of the popula on
Selec on Error
Bias due to convenience samples, non probability method
Frame Error
Bias in the sampling list
Survey Non-Response Error
People who choose not to par cipate differ from the people who do choose to par cipate
Sampling
studying a subset of the target
External Validity
Generalizability of our results
Simple Random Sampling (SRS)
Each popula on member has an equal probability of being selected
Probabilis c Sampling Methods
-Propor onate Stra fied Random
-Dispropor onate Stra fied Random
-Cluster Sampling
Propor onate Stra fied Random Sampling
Divides popula on into different groups, and sample each group based on propor on size
Dispropor onate Stra fied Random Sampling
Involves over-sampling small stratum or one that is highly variable
Cluster Sampling
Divides popula on into clusters and clusters are selected at random
Non-probabilis c Sampling Methods
-Convenience
-Quota
Convenience Sampling
IU Exam 1), M303 Exam #1, m303 exam 1| Updated New 2026
Marke ng Research
-About understanding the consumer
-Encompasses systema c methods of obtaining high quality info that is useful for decision-
making
Two Key Benefits of Marke ng Research
-Helps to avoid costly mistakes
-Iden fy unmet customer needs and desires
Fundamental Research
Broad scope, general truths
Applied Research
Narrow scope, to solve specific problem
Basic Research Process
WHY should we do research (MDP-management decision problem)
WHAT research should be done (MRP-marke ng research problem)
IS IT WORTH doing the research (value of info)
HOW should research be designed to achieve objec ves (Research Design, Data Collec on,
Analysis)
WHAT will we do with the research (Report & Strategic Recommenda ons)
Marke ng Research Approaches
Exploratory
Conclusive- pre planned(descrip ve & causal)
Exploratory Research
-provide direc on for any further research, discovery of ideas, Example: open ended ques ons
-disadvantages: researcher bias, lack of focus
Conclusive Research (Descrip ve)
,-describing the composi on & characteris cs of relevant groups, typical mul ple choice
ques on, understand overall popula on
-disad: unavailability of data, expensive
Conclusive Research (Causal)
-to iden fy cause and effect rela onships, Example: new packaging having an effect on cereal
sales
-disad: considerable background research, narrow
Secondary Data
-Data that was previously gathered by someone else for a separate purpose
-faster, cheaper
-Types: internal, external (published or commercial)
Primary Data
-Collec on of new data gathered by your or your firm
-"fits" be7er and is more current
Errors Related to Accuracy of Responses
Measurement
Surrogate Info
Ques on Non response
Measurement Error
Difference between the measurements obtained and the truth
Surrogate Informa on Error
We may not be able to observe the outcome of interest (noisy proxy)
Ques on Non-response Error
People who choose not to answer may differ from the people who do choose to answer
Errors Related to Improper Selec on of Respondents
Sampling
Selec on
Frame
Survey Non Response
Sampling Error
, Sample not representa ve of the popula on
Selec on Error
Bias due to convenience samples, non probability method
Frame Error
Bias in the sampling list
Survey Non-Response Error
People who choose not to par cipate differ from the people who do choose to par cipate
Sampling
studying a subset of the target
External Validity
Generalizability of our results
Simple Random Sampling (SRS)
Each popula on member has an equal probability of being selected
Probabilis c Sampling Methods
-Propor onate Stra fied Random
-Dispropor onate Stra fied Random
-Cluster Sampling
Propor onate Stra fied Random Sampling
Divides popula on into different groups, and sample each group based on propor on size
Dispropor onate Stra fied Random Sampling
Involves over-sampling small stratum or one that is highly variable
Cluster Sampling
Divides popula on into clusters and clusters are selected at random
Non-probabilis c Sampling Methods
-Convenience
-Quota
Convenience Sampling
