Chapter 10 Terms

Question 1

Marketing Research

Answer 1

• process of collecting and using information for marketing decision making

Question 2

Big Data

Answer 2

• fueled by 21st century technological advances, the vast and unprecedented volume, speed, and array of data available for informed decision making

Question 3

Marketing Intelligence

Answer 3

• sum total of information related to a firm’s markets, which a firm gathers in order to better understand their customers, target consumer segments, and develop long-term customer relationships

Question 4

Marketing Information System (MIS)

Answer 4

• planned, computer-based system designed to provide managers with a continuous flow of information relevant to their specific decisions and areas of responsibility

Question 5

Marketing Decision Support System (MDSS)

Answer 5

-marketing information system component that links a decision maker with relevant databases and analysis tools

Question 6

Syndicated Service

Answer 6

• organization that provides standardized data on a periodic basis to its subscribers

Question 7

Full-Service Research Supplier

Answer 7

-marketing research organization that offers all aspects of the marketing research process

Question 8

Limited-Service Research Supplier

Answer 8

-marketing research firm that specializes in a limited number of research activities, such as conducting field interviews or preforming data processing

Question 9

Metrics

Answer 9

-quantifiable measurements that are compared against organizational objectives to gauge overall performance

Question 10

Data Mining

Answer 10

-technique in which a user employs special software to search through computerized data files to detect patterns

Question 11

Predictive Analysis

Answer 11

-use of business intelligence data to model scenarios and create forecasts

Question 12

Key Performance Indicator

Answer 12

-quantifiable measurement, articulated in advance, that reflects an organization’s goals and is critical to its success

Question 13

Exploratory Research

Answer 13

-process of discussing a marketing problem with informed sources both within and outside the firm and examining information from secondary sources

Question 14

Sales Analysis

Answer 14

-in-depth evaluation of a firm’s sales

Question 15

Hypothesis

Answer 15

-tentative explanation for a specific event

Question 16

Research Design

Answer 16

-master plan for conducting market research

Question 17

Secondary Data

Answer 17

-previously published information; government data, the U.S. Census of Population, private data, and online sources

Question 18

Primary Data

Answer 18

-information collected for a specific investigation

Question 19

Sampling

Answer 19

-process of selecting survey respondents or research participants

Question 20

Population (Universe)

Answer 20

-total group that researchers want to study

Question 21

Probability Sample

Answer 21

-sample that gives every member of the population a known chance of being selected

Question 22

Simple Random Sample

Answer 22

-basic type of probability sample in which every individual in the relevant universe has an equal opportunity of being selected

Question 23

Stratified Sample

Answer 23

-probability sample constructed to represent randomly selected subsamples of different groups within the total sample; each subgroup is relatively homogeneous for a certain characteristic

Question 24

Cluster Sample

Answer 24

-probability sample in which researchers select a sample of subgroups (or clusters) from which they draw respondents; each cluster reflects the diversity of the whole population sampled

Question 25

Non-probability Sample

Answer 25

-sample that involves personal judgment somewhere in the selection process

Question 26

Convenience Sample

Answer 26

-nonprobability sample selected from among readily available respondents

Question 27

Quota Sample

Answer 27

-nonprobability sample divided to maintain the proportion of certain characteristics among different segments or groups

Question 28

Interpretive Research

Answer 28

-observational research method developed by social anthropologists in which customers are observed in their natural setting and their behavior is interpreted based on an understanding of social and cultural characteristics; also known as ethnography or “going native”

Question 29

Focus Group

Answer 29

-small group of individuals brought together to discuss a specific topic

Question 30

Controlled Experiment

Answer 30

-scientific investigation in which a researcher manipulates a test group and compares the results with those of a control group that did not receive the experimental controls or manipulations

Question 31

Test Marketing

Answer 31

-marketing research technique that involves introducing a new product in a specific area and then measuring its degree of success