MKTG301 Ch4 Managing marketing information to gain customer insight – 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 system
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people and procedures for assessing information needs, developing the needed information and helping decision makers to use the information to generate and validate actionable customer and market insights
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internal database
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electronic collections of consumer and market information obtained from data sources within the company network
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competitive marketing intelligence
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the systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketing environment
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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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marketing research to gather preliminary information that will help define problems and suggest hypotheses
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descriptive research
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marketing research to better describe marketing problems, situations, or markets, such as the market potential for a product or the demographics and attitudes of consumers
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casual research
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marketing research to test hypotheses about cause-and-effect relationships
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secondary data
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information that already exists somewhere, having been collected for another purpose
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primary data
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information collected for the specific purpose at hand
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commercial online database
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collections of information available from online commercial sources or accessible via the internet
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observational research
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gathering primary data by observing relevant people, actions, and situations.
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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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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 group interviewing
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personal interviewing that involves inviting six to ten people to gather for a few hours with a trained interviewer to talk about a product, service, or organization. The interviewer 'focuses' the group discussion on important issues
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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 consumers' 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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customer relationship management
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capturing and using customer data from all sources and carefully managing customer touch points to maximize customer loyalty
