Essentials of Marketing Research Chapter 1 – Flashcards
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applied marketing research
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research conducted to address a specific decision for a specific firm/organization
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basic marketing research
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research conducted without a specific decision in mind and usually does not address the needs of the specific organization
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culturally cross-validate
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to verify that the findings from one culture also exist and behave similarly in another culture
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customer oriented
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describes a firm in which all decisions are made with a conscious awareness of their effect on the consumer
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geo-demographics
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information describing the demographic profile of consumers in a geographic region
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pricing
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finding the right monetary amount consumers would sacrifice and also best represents the value customers perceive in a product
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integrated marketing communication
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all promotional efforts such as advertising and PR should be coordinated to communicate a consistent image
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integrated marketing mix
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the effects of various combinations of marketing-mix elements (4 P's)
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marketing channel
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a set of activities that are necessary for consumption to occur
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marketing concept
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the philosophy/strategy on how the firm provides value to consumers that is more benefit oriented than product oriented
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marketing metrics
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numeric data that allows marketers to measure and monitor marketing performance
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marketing orientation
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company emphasis on customer orientation, long-term profitability over short-term, and a cross-functional perspective
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marketing research
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the application of the scientific method in searching for the truth about marketing phenomena
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online sentiment analysis
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using data indicating total positive and negative mentions of a brand on the internet to understand the strength of the brand
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performance-monitoring research
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research the routinely provides feedback for evaluation and control of marketing activity
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product oriented
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firm that prioritizes decision making in a way that emphasizes technical superiority in the product
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production oriented
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firm that prioritizes efficiency and effectiveness of the production process
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promotion
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firm's way of communication to inform and persuade buyers
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promotion research
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investigates effectiveness of advertising, premiums, coupons, PR and other sales promotion
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relationship marketing
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the major goal of marketing to build long-term relationships with the customers contributing to the firm's success
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scientific method
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the way which researchers go about using knowledge and evident to reach objective conclusions
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stakeholder orientation
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recognizing that multiple parties are affected by the firm's decisions
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supply chain
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link between suppliers and customers
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total value management
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the management and monitoring of the entire process by which consumers receive benefits from a company
