Chapter 4 Vocabulary

Question 1

The huge and complex data sets generated by today’s sophisticated information generation, collection, storage, and analysis technologies

Answer 1

Big data

Question 2

Fresh marketing information-based understandings of customers and the marketplace that become the basis for creating value, engagement and relationships

Answer 2

Customer insights

Question 3

People and procedures 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

Answer 3

Marketing information systems (MIS)

Question 4

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

Answer 4

Internal databases

Question 5

The systematic monitoring, collection, and analysis of publicly available information about consumers, competitors, and the developments in the marketplace

Answer 5

Competitive marketing intelligence

Question 6

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

Answer 6

Marketing research

Question 7

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

Answer 7

Exploratory research

Question 8

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

Answer 8

Descriptive research

Question 9

Marketing research to test hypotheses about cause-and-effect relationships

Answer 9

Causal research

Question 10

Information that already exists somewhere, having been collected for another purpose

Answer 10

Secondary data

Question 11

Information collected for the specific purpose at hand

Answer 11

Primary data

Question 12

Gathering primary data by observing relevant people, actions, and situations

Answer 12

Observational research

Question 13

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

Answer 13

Ethnographic research

Question 14

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

Answer 14

Survey research

Question 15

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

Answer 15

Experimental research

Question 16

Personal interviewing that involves inviting small groups of people to gather for a few hours with a trained interviewer to talk about a product, service, or organization. The interviewer “focuses” the group discussion on important issues

Answer 16

Focus group interviewing

Question 17

Collecting primary data online through internet surveys, online focus groups, web-based experiments, or tracking of consumers’ online behavior

Answer 17

Online marketing research

Question 18

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

Answer 18

Online focus group

Question 19

Using online consumer tracking data to target advertisements and marketing offers to specific consumers

Answer 19

Behavioral targeting

Question 20

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

Answer 20

Sample

Question 21

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

Answer 21

Customer relationship management (CRM)

Question 22

The analysis tools, technologies, and processes by which marketers dig out meaningful patterns in big data to gain customer insights and gauge marketing performance

Answer 22

Marketing analytics