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Flashcards in Chapter 4 Vocab Deck (22)
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1

customer insights

fresh understandings of customers and the marketplace derived from marketing information that become the basis for creating customer value and relationships

2

marketing information system (MIS)

people and procedures are dedicated to assessing information needs, developing the needed information, and helping decision makers to use the information to generate and validate actionable customer and market insights

3

internal databases

electronic collections of consumer and market information obtained from data sources within the company network

4

competitive marketing intelligence

the systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketing environment

5

chief listening officers

charged with sifting through online customer conversations and passing along key insights to marketing decision makers

6

marketing research

the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization

7

4 steps of marketing research process

defining the problem and research objectives
developing the research plan for collecting information
implementing the research plan (collecting and analyzing the data)
interpreting and reporting the findings

8

exploratory research

marketing research to gather preliminary information that will help define problems and suggest hypotheses

9

descriptive research

marketing research to better describe marketing problems, situations, or markets, such as the market potential for a product or the demographics and attitudes of consumers

10

causal research

marketing research to test hypotheses about cause and effect relationships

11

secondary data

information that already exists somewhere, having been collected for another purpose
desire relevant, accurate, current, impartial data

12

primary data

information collected for the specific purpose at hand

13

observational research

gathering primary data by observing relevant people, actions and situations

14

ethnographic research

a form of observational research that involves sending trained observers to watch and interact with consumers in their natural environments

15

survey research

gathering primary data by asking people questions about their knowledge, attitudes, preferences and buying behavior

16

netnography research

observing consumers in a natural context on the internet

17

experimental research

gathering primary data by selecting matched groups of subjects, giving them different treatments, controlling related factors, and checking for differences in group responses

18

focus group interviewing

personal interviewing that involves inviting 6 to 10 people to gather for a few hours with a trained interviewer to talk about a product, service or organization; interviewer focuses the group to talk on certain issues

19

online marketing research

collecting primary data online through internet surveys, online focus groups, web based experiments, or tracking consumers' online behavior

20

online focus groups

gathering a small group of people online with a trained moderator to chat about a product, service, or organization and gain qualitative insights about consumer attitudes and behavior

21

sample

a segment of the population selected for marketing research to represent the population as a whole

22

customer relationship management

managing detailed information about individual customers and carefully managing customer touch points to maximize customer loyalty