Chapter 2: Marketing Information, Research, and Understanding the Target Market Flashcards Preview

Marketing 5410: Marketing Management > Chapter 2: Marketing Information, Research, and Understanding the Target Market > Flashcards

Flashcards in Chapter 2: Marketing Information, Research, and Understanding the Target Market Deck (12):
1

Experimental Research

Involves manipulating one variable and examining its impact on other variables.

2

Focus Groups

A type of qualitative research that typically involves discussions among a small number of consumers led by an interviewer and designed to generate insights and ideas about products and brands.

3

Long Interviews

A type of qualitative research conducted by an interviewer with a single respondent for several hours and designed to find out such things as the meanings various products and brands have for the person or how a product influences the person's life.

4

Marketing Research

The process by which information about the environment is generated, analyzed, and interpreted for use in marketing decision making. Most often consumers or organizational buyers are the subject of the research.

5

Mathematical Modeling

Involves developing equations to model relationships among variables to investigate the impact of various strategies and tactics on sales and brand choices.

6

Observational Research

Involves watching people and recording relevant facts and behaviors.

7

Primary Data

Data collected specifically for the research problem under investigation.

8

Qualitative Research

Typically involves face-to-face interviews with respondents designed to develop a better understanding of what they think and feel concerning a research topic, such as a brand name, a product, a package, or an advertisement.

9

Quantitative Research

Involves systematic procedures designed to obtain and analyze numerical data.

10

Secondary Data

Data that have previously been collected for other purposes but can be used for the problem at hand.

11

Survey Research

Involves the collection of data by means of a questionnaire either by mail, phone, online, or in person.

12

Test Marketing

The major goal of most test marketing is to measure new product sales on a limited basis where competitive retaliation and other factors are allowed to operate freely. In this way, future sales potential can often be estimated reasonably well.