Ch. 4 Managing Marketing Information to Gain Customer Insights Flashcards
Customer insights
Fresh understandings of customers and the marketplace derived from marketing information that becomes the basis for creating customer value and relationships.
Marketing information system (MIS)
People and procedures dedicated to assessing information needs, developing the needed information, and helping decision makers to use the information to generate and validate actionable customer and market insights.
Internal databases
Electronic collections of consumer and market information obtained from data sources within the company network.
Competitive marketing intelligence
The systematic collection and analysis of publicly available information about consumers, competitors, and development in the marketing environment.
Marketing research
The systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.
Exploratory research
Marketing research used to gather preliminary information that will help define problems and suggest hypotheses.
Descriptive research
Marketing research used to better describe marketing problems, situations, or markets.
Causual research
Marketing research used to test hypotheses about cause-and-effect relationships.
Secondary data
Information that already exists somewhere, having been collected for another purpose.
Primary data
Information collected for the specific purpose at hand.
Observational research
Gathering primary data by observing relevant people, actions, and situations.
Ethnographic research
A form of observational research that involves sending trained observers to watch and interact with consumers in their “natural environments.”
Survey research
Gathering primary data by asking people questions about their knowledge, attitudes, preferences, and buying behavior.
Experimental research
Gathering primary data by selecting matched groups of subjects, giving them different treatments, controlling related factors, and checking for differences in group responses.
Focus group interviewing
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.
