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Flashcards in marketing ch.8 Deck (59):
1

Marketing Research

the process of defining a marketing problem/opportunity and systematically analyzing info to recommend actions

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5 step process

define the problem, develop research plan, collect info, develop findings, take marketing action

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Define the problem

set objectives, identify possible actions

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Exploratory research

when defining the problem, provides ideas about relatively vague problem

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Descriptive research

when defining the problem, trying to find the frequency that something occurs or extent of a relationship

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Causal Research

when defining the problem, most sophisticated research. Tries to determine the extent to which the change in one factor changes the other

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Measures of Success

criteria used in evaluating proposed solutions (ex. amount of time child plays with toy)

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Constraints

restrictions placed on potential solutions

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Constraints

restrictions placed on potential solutions

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Concepts

ideas about the products/services used to get reactions

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Concepts

ideas about the products/services used to get reactions

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Methods

approaches that can be used to collect data to solve all or part of a problem

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Methods

approaches that can be used to collect data to solve all or part of a problem

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Collect Relevent Info

Obtain Secondary Data
Obtain Primary Data

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Collect Relevent Info

Obtain Secondary Data
Obtain Primary Data

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Secondary Data

Facts/figures that have already been recorded before

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Secondary Data

Facts/figures that have already been recorded before

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Internal/External data

internal: marketing inputs and outcomes. External is thigns like census

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Internal/External data

internal: marketing inputs and outcomes. External is thigns like census

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Primary Data

facts/figures collected for the project

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Primary Data

facts/figures collected for the project

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Observational data

obtained by watching people in some way

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Observational data

obtained by watching people in some way

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Mechanical Methods

Type of obeservational data gathering. like TV measurer

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Mechanical Methods

Type of obeservational data gathering. like TV measurer

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Personal Methods

type of observational data gathering. like the mystery shopper

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Personal Methods

type of observational data gathering. like the mystery shopper

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Neuromarketing

type of observational data gathering used when analyzing brain

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Neuromarketing

type of observational data gathering used when analyzing brain

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Individual Interviews

for idea generation. single researcher, one respondent

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Individual Interviews

for idea generation. single researcher, one respondent

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Depth interviews

for idea generation.researchers ask lengthy free flowing kinds of questions

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Depth interviews

for idea generation.researchers ask lengthy free flowing kinds of questions

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Focus Groups

for idea generation. 6-10 customers

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Focus Groups

for idea generation. 6-10 customers

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Idea evaluation methods

mostly questionaires

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Idea evaluation methods

mostly questionaires

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Open ended questions

allows respondents to express in own words

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Open ended questions

allows respondents to express in own words

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closed ended questions

requires respondents to select from optiomns

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closed ended questions

requires respondents to select from optiomns

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Dichotomous question

yes/no

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Dichotomous question

yes/no

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scales

answer 1-10

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scales

answer 1-10

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semantic differential scale

five point scale, opposite ends=opposite meanings

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semantic differential scale

five point scale, opposite ends=opposite meanings

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likert scale

stronglt agree-->strongly disagree

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likert scale

strongly agree-->strongly disagree

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Panel

samples of customers/stores used to take measurements

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Information TEchnology

operating computer networks that store/process data

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Data mining

the extraction of hidden predicitive info from large databases to find links between consumer purchasing powers and marketing actions

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Develop Findings

analyze data, present findings

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take marketing actiosn

make action recomendations, implement action, evaluate results

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Sales forecast

total sales of a product that a firm expects to sell during a specified time period under specified conditions and its own marketing efforts

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Direct forecast

estimatinghte value without intervening steps

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lost horse forecast

starting with last know value, listing the factors, +/- effect? final forecast

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survey of buyer intentions forecast

ask prospective customers if they are likely to buy the product

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salesforce survey forecast

asking the firms salespeople to estimate