Principles of Marketing Kotler & Armstrong 14th Edition Chapter 4

question

Customer insights
answer

Fresh understandings of customers and the marketplace derived from marketing information that become the basis for creating customer value and relationships.
question

Marketing information system
answer

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.
question

Internal databases
answer

Electronic collections of consumer and market information obtained from data sources within the company network.
question

Competitive marketing intelligence
answer

The systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketing environment.
question

Marketing research
answer

The systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.
question

Exploratory research
answer

Marketing research to gather preliminary information that will help define problems and suggest hypotheses.
question

Descriptive research
answer

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.
question

Causal research
answer

Marketing research to test hypotheses about cause-and-effect relationships.
question

Secondary data
answer

Information that already exists somewhere, having been collected for another purpose.
question

Primary data
answer

Information collected for the specific purpose at hand.
question

Commercial online databases
answer

Collections of information available from online commercial sources or accessible via the Internet.
question

Observational research
answer

Gathering primary data by observing relevant people, actions, and situations.
question

Ethnographic research
answer

A form of observational research that involves sending trained observers to watch and interact with consumers in their “natural environments.”
question

Survey research
answer

Gathering primary data by asking people questions about their knowledge, attitudes, preferences, and buying behavior.
question

Experimental research
answer

Gathering primary data by selecting matched groups of subjects, giving them different treatments, controlling related factors, and checking for differences in group responses.
question

Focus group interviewing
answer

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.
question

Online marketing research
answer

Collecting primary data online through Internet surveys, online focus groups, Web-based experiments, or tracking consumers’ online behavior.
question

Online focus groups
answer

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.
question

Sample
answer

A segment of the population selected for marketing research to represent the population as a whole.
question

Simple random sample
answer

Every member of the population has a known and equal chance of selection.
question

Stratified random sample
answer

The population is divided into mutually exclusive groups (such as age groups), and random samples are drawn from each group.
question

Cluster (area) sample
answer

The population is divided into mutually exclusive groups (such as blocks), and the researcher draws a sample of the groups to interview.
question

Convenience sample
answer

The researcher selects the easiest population members from which to obtain information.
question

Judgment sample
answer

The researcher uses his or her judgment to select population members who are good prospects for accurate information.
question

Quota sample
answer

The researcher finds and interviews a prescribed number of people in each of several categories.
question

Customer relationship management
answer

Managing detailed information about individual customers and carefully managing customer touch points to maximize customer loyalty.

Get instant access to
all materials

Become a Member