Marketing Chapter 5 Vocab

question

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.

Get instant access to
all materials

Become a Member