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Flashcards in Chapter 7 Deck (29):
1

marketing research

Procedures that develop and analyze new information about a market

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Marketing information system (MIS)

An organized way of continually gathering, accessing, and analyzing information that marketing managers need to make ongoing decisions

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They anticipate the information they will need. They work to develop a _______________________ that is available and quickly accessible from an MIS when it's needed

continual flow of information

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Advances in information technology have ushered in ________ improvements in marketing information systems

radical

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intranet

A system for linking computers within a company

*Maintains security, access to websites or data on an intranet is usually limited to employees

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data warehouse

A place where databases are stored so that they are available when needed

An MIS system organizes incoming information into a data warehouse

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Decisoin 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

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search engine

a computer program that helps a marketing manager find information

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Marketing dashboard

Displays up-to-the-minute marketing data in an easy-to-read format

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Marketing model

A statement of relationships among marketing variables

The manager can look at the sales (and costs) expected with different types of promotion and select the marketing mix that is best for that target market

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Sales analysis

 

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A detailed breakdown of a company's sales records

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Scientific method

A decisoin-making approach that focuses on being objective and orderly in testing ideas before accepting them

Marketing research is guided by the scientific method

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Hypotheses

Educated guesses about the reltationships between things or about what will happen in the future

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Marketing research process

Five-step application of the scientific method that includes:

1. Defining the problem

2. Analyzing the situation

3. Getting problem-specific data

4. Interpreting the data

5. Solving the problem

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Situation analysis

An informal study of what information is already available in the problem area

Can help define the problem and specify what additional information, if any, is needed

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secondary data

information that has been collected or published already

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primary data

information specifically collected to solve a current problem

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research proposal

A plan that specifies what information will be obtained and how

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Two basic methods for obtaining information about customers:

Questioning and Observing

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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 many directions or guidelines about what to say

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Focus group interview

Most widely used form of qualitative questioning in marketing research

Involves interviewing 6 to 10 people in an informal group setting

Open ended questions

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Quantitative research

Seeks structured responses that can be summarized in numbers, like percentages, averages, or other statistics

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Response Rate

The percentage of people contacted who complete the questionnaire

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Consumer panels

A group of consumers who provide information on a continuing basis

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Experimental method

Researchers compare the responses of two (or more) groups that are similar except on the characteristic being tested

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Statistical packages

Easy-to-use computer programs tha analyze data

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confidence intervals

The range on either side of an estimate that is likely to contain the true value for the whole populatioin

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Validity

Concerns the extent to which data measures what it is intended to measure

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