Marketing 301 Chapter 4 – Flashcards
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Customer Insights
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fresh understandings of customers and the marketplace derived from marketing information that becomes the basis for creating customer value and relationships
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Marketing Information Systems
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people and procedures dedicated to assessing information needs, developing the needed information, and helping decision makers to use information to generate and validate actionable customer and market insights
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Internal Data
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electronic collections of consumer market information obtained from data sources within the company's network
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Marketing Research
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the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization
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Exploratory Research
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gathers preliminary information that will help define the problem and suggest hypotheses
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Descriptive Research
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describes things, such as the market potential for a product of the demographics and attitudes of consumers who buy the product
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Casual Research
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test hypotheses about cause-and-effect relationships
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Secondary Data
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consists of information that already exists somewhere, having been collected for another purpose
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Primary Data
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consists of information collected for the specific purpose at hand
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Ethnographic Research
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a form of observational research that involves sending trained observers to watch and interact with consumers in their "natural environments
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Netnography Research
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observing customers in a natural context on the internet
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Survey Research
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gathering primary data by asking people questions about their knowledge, attitudes, preferences and buying behavior
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Experimental Research
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Gathering primary data by selecting matched groups of subjects, giving them different treatments, controlling related factors and checking for differences in group responses
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Focus Grouping Interview
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personal interviewing that involves inviting 6-10 people to gather for a few hours with a trained interviewer to talk about a product, service, or organization
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Online Marketing Research
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collecting primary data online through internet surveys, online focus groups, web-based experiments, or tracking consumer's online behavior
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Online Focus Groups
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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
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Sample
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a segment of the population selected for marketing research to represent the population as a whole
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Probability Sample
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each population member has a known chance of being included in the sample, and researchers can calculate confidence limits for sampling error
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Simple Random Sample
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every member of the population has a known & equal chance of selection
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Stratified Random Sample
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the population is divided into mutually exclusive groups (such as age groups), and random samples are drawn from each group
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Cluster/Area Sample
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the population is divided into mutually exclusive groups (such as blocks), and the researcher draws a sample of the groups to review
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Non Probability Sample
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when probability sampling costs too much or takes too much time, this type of sample is used even though their sampling error cannot be measure
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Convenience Sample
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the researcher selects the easiest population members from which to obtain information
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Judgement Sample
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the researcher used his or her judgment to select population members who are good prospects for accurate information
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Quota Sample
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the researcher finds and interviews a prescribed number of people in each of several categories
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Neuromarketing
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is used by measuring brain activity to learn how consumers feel and respond
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Competitive Marketing Intelligence
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the systemic collection and analysis of publicly available information about consumers, competitors, and developments in the marketplace
