Marketing Chapter 5 Vocab – Flashcards
Unlock all answers in this set
Unlock answersquestion
Discretionary Purchases
answer
not essential, so consumers can decide whether or not to purchase them.
question
Internal Information
answer
information developed from activities that occur within the organization.
question
External Information
answer
provides an understanding of factors outside of the organization.
question
Marketing Information System
answer
an organized method of collecting, storing, analyzing, and retrieving information to improve the effectiveness and efficiency of marketing decisions.
question
Input
answer
the information that goes into the system that is needed for decision making.
question
Storage
answer
involves the resources used to maintain information, including equipment used procedures, so that it can be used when needed.
question
Analysis
answer
process of summarizing, combining, or comparing information so that decisions can be made.
question
Output
answer
the result of analysis given to decision makers.
question
Marketing Research
answer
a procedure designed to identify solutions to a specific marketing problem through the use of scientific problem solving.
question
Secondary Data
answer
information already collected for another purpose that can be used to solve the current problem.
question
Primary Data
answer
information collected for the first time to solve the problem being studied.
question
Population
answer
all of the people in the group the company is interested in studying.
question
Sample
answer
a smaller group selected from the population.
question
Random Sampling
answer
everyone in the population has an equal chance of being selected in the sample.
question
Survey
answer
a planned set of questions to which individuals or groups of people respond.
question
Closed-Ended Questions
answer
offer two or more choices as answers such as: yes or no.
question
Open-Ended Questions
answer
allow respondents to develop their own answers without additional information about possible choices .
question
Focus Group
answer
a small number of people brought together to discuss identified elements of an issue or problem.
question
Observation
answer
collects information by recording actions without interacting or communicating with the participant.
question
Experiments
answer
carefully designed and controlled situations in which all important factors are the dame except the one being studied.
question
Test Markets
answer
specific cities or geographic ares in which marketing experiments are conducted.
question
Simulations
answer
experiments where researchers create the situation to be studied.
