FIU Marketing Modules 4

Marketing information system (MIS)
consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers.
Marketing research
is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization
Marketing research process
Defining the problem and research objectives
Developing the research plan
Implementing the plan
Interpreting and reporting the findings
Research plan
outlines sources of existing data and spells out the specific research approaches, contact methods, sampling plans, and instruments that researchers will use to gather data
Secondary data
consists of information that already exists somewhere, having been collected for another purpose
Primary data
consists of information gathered for the special research plan
Primary Data Collection
Research Approaches, Contact Methods, Sampling Plan, Research Instruments.
Observational research
involves gathering primary data by observing relevant people, actions, and situations.
Survey research
is the most widely used method and is best for descriptive information—knowledge, attitudes, preferences, and buying behavior
Experimental research
is best for gathering causal information—cause-and-effect relationships
Sample
is a segment of the population selected for marketing research to represent the population as a whole
Closed-end questions
include all possible answers, and subjects make choices among them.Provide answers that are easier to interpret and tabulate
Open-end questions
allow respondents to answer in their own words.Useful in exploratory research
Mechanical devices
i.e. Nielsen ratings; grocery scanners
Culture
is the learned values, perceptions, wants, and behavior from family and other important institutions
Cultural factors
Culture and values, subculture, social class
subculture
are groups of people within a culture with shared value systems based on common life experiences and situations
social classes
group of people who hold similar positions in society, share similar wealth and receive similar respect from other members of society
Social Factors
Groups, family, and social role and statuses
Groups
membership groups, aspirational groups, reference groups, opinion leaders, buzz marketing, and social networking
Family
is the most important consumer-
buying organization in society
Social roles and status
are the groups, family, clubs, and organizations to which a
person belongs that can define role and social status.
Personal Factors
Age and Life cycle stage, Occupation, Economic Situation, Lifestyle, and Personality and self-concept
Psychological Factors
Motivation, Perception, Learning, Beliefs and Attitudes
Stages in the buyer decision process
Need Recognition, Information search, evaluation of alternatives, purchase decision, post-purchase behavior.
Consumer Buying roles
Decider,Buyer,User,Initiator, and Influencer
Types of Buying Decision Behavior
Complex buying behavior, Dissonance-reducing buying behavior, Habitual buying behavior, Variety-seeking buying behavior
Business Markets
the institutional buyers who purchase items to be used in other products and services or to be resold to other businesses or households.

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