Chap 7 Flashcards
(28 cards)
Marketing research:
Producers that develop and analyze new information about a market.
Marketing information system (MIS):
An organized way of continually gathering, accessing and analyzing information that marketing managers need to make ongoing decisions.
Data warehouse:
A place where databases are stored so that they are available when needed.
Decision support system (DSS):
A computer program that makes it easy for a marketing manager to get and use information as he or she is making decisions.
Marketing dashboard:
Displays up-to-the-minute marketing data in an easy-to-read format.
Marketing model:
A statement or relationships among marketing variables. It enables a manager to look at the sales and costs expected with different types of promotion and select the marketing mix that is best for a particular target market.
Scientific method:
A decision-making approach that focuses on being objective and orderly in testing ideas before accepting them. With the scientific method managers don’t just assume that their intuition is correct, they run a test first.
Hypotheses:
Educated guesses about the relationships between things or about what will happen in the future.
Marketing research process:
A five-step application of the scientific method that includes: Defining the problem, Analyzing the situation, Getting problem-specific data, Interpreting the data, Solving the problem
Situation analysis:
An informal study of what information is already available in the problem area. It can help define the problem and specify what additional information is needed.
Secondary data:
Information that has been collected or published already. It can be found either inside or outside the company.
Primary data:
Information specifically collected to solve a current problem. Too often researches rush to gather primary data when much relevant secondary information is already available at little or no cost.
Research proposal:
A plan that specifies what information will be obtained and how. This is done to make sure no misunderstandings occur later.
Getting problem-specific data:
There are two basic methods for obtaining information about customers: questioning and observing.
Qualitative research:
Seeks in-depth, open-ended responses, not yes or no answers. The researcher tries to get people to share their thoughts on a topic without giving them to many directions or guidelines about what to say.
Focus group interview:
Involves interviewing 6 to 10 people in an informal setting. Focus group also uses open-ended questions, but here the interviewer wants to get group interaction.
Quantitative research:
Seeks structured responses that can be summarized in numbers, like percentages, averages or other statistics.
Response rate:
The percentage of people contacted who complete the questionnaire.
Telephone surveys:
Fast and effective. They are effective for getting quick answers to simple questions.
Personal interviews surveys:
Can be in-depth. They are usually much more expensive per interview than e-mail, mail or telephone surveys. But it’s easier to get and keep the respondent’s attention when the interviewer is right there.
Observing website visitors:
Website analysis software allows marketing managers to observe customer behavior at a form’s website.
Checkout scanners see a lot:
Computerized scanners at retail checkout counters help researchers collect very specific and useful information. Often this type of data feeds directly into a firm’s MIS.
Consumer panels:
A group of consumers who provide information on a continuing basis.
Experimental method:
With this method researchers compare he responses of two or more groups that are similar except on the characteristic tested.
