Chapter 8 Flashcards
The process of defining a marketing problem and opportunity. Systemically collecting and analyzing information.
Marketing Research
What are the five step approach to marketing research?
- Define the problem
- Develop the research plan
- Collect relevant information
- Develop findings
- Take marketing actions
In a decision the restrictions placed on potential solutions to a problem
Constraints
Ideas about products or services
Concepts
A picture or verbal description of a product or service the firm might offer for sale
New Product Concept
The approaches that can be used to collect data to solve all or part of a problem
Methods
Allows generalizing results from a small sample to the population at large: used by political polling organizations, used by Nielsen for TV ratings, used by every researcher
Statistical inference
Selecting a group of distributors, customers, or prospects, asking them questions and treating their answers as typical of all those in whom they are interested
Sampling
Criteria or standards used in evaluating proposed solutions to the problem
Measures of success
Facts and figures related to the project
Data
Facts and figures that have already been recorded prior to the project at hand
Secondary Data
Facts and figures newly collected for the project
Primary Data
The computational process of discovering patterns in large data sets ( like when to put bathing suits on sale never in Miami)
Data Mining
Facts and figures obtained by asking people about their attitudes, awareness, intentions, and behaviors
Questionare Data
Facts and figures obtained by watching, either mechanically or in person, how people actually behave is the way marketing researchers collect the data
Observational Data
