chapter 3 Flashcards
marketing information system (MIS)
consists of all information needed about people, equipment, and procedures to gather, sort, analyse, evaluate, and distribute needed, timely, and accurate information to marketing decision-makers. it relies on internal company records and the marketing intelligence system.
internal company records
to spot important opportunities and potential problems, marketing managers rely on internal reports of orders, sales, prices, costs, inventory levels, receivables, and payables. internal records and database systems are the order-to-payment cycle, sales information systems, and databases, data warehousing, data mining.
customer database
an organized collection of comprehensive information about individual customers or prospects that is current, accessible, and actionable for lead generation, lead qualification, sales, or customer relationship management.
database marketing
the process of building, maintaining, and using customer
databases and other databases (products, suppliers, resellers) to contact, transact with, and build relationships with customers.
data warehouse
where information captured by the company is organised and marketers can capture, query, and analyse data to draw inferences about individual customers’ needs and responses.
data mining
used by marketing analysts to extract from the mass of data useful insights about customer behaviour, trends, and segments.
marketing intelligence system
a set of procedures and sources that managers use to obtain everyday information about developments in the marketing environment. the internal records system supplies results data, but the marketing intelligence system supplies happening data. a company can take eight possible actions to improve the quantity and quality of its marketing intelligence.
marketing research
the function that links the consumer, customer, and public to the marketer through information - information used to identify marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance, and improve understanding of marketing as a process. marketing research includes addressing the issue, designing the method for collecting information, managing, and implementing the data collection process, analysing the results, and communicating the findings and their application.
the marketing research process
- define the problem, the decision alternatives, and the research objectives.
- develop the research plan.
- collect the data
- analyse the information
- present the findings
- make the decision
secondary data
data that were collected for another purpose and already exist somewhere.
primary data
data freshly gathered for a specific purpose or product.
observational research
gathers data by observing unobtrusively as customers shop or consume products.
ethnographic research
uses concepts and tools from anthropology and other social science disciplines to provide deep cultural understanding of how people live and work.
focus group research
a gathering of six to ten people carefully selected for demographic, psychographic, or other considerations and convened to discuss various topics at length for a small payment. researchers must avoid generalising this small group to the whole population.
survey research
used to assess people’s knowledge, beliefs, preferences, and satisfaction and to measure these magnitudes in the general population.
behavioural research
analyses of the traces customers leave of their purchasing behaviour in store scanning data, catalogue purchases, and customer databases.
experimental research
research designed to capture cause-and-effect relationships by eliminating competing explanations of the findings.
questionnaire
consists of a set of questions presented to respondents. the most common research instrument to gather primary data because of its flexibility. it is possible to ask closed-end and open-end questions.
qualitative measures
relatively indirect and unstructured. this research instrument can be especially useful to explore customers’ perceptions. respondents may reveal more about themselves in the process, because of the use of word associations, projective techniques, visualisation, brand personification, and laddering.
technological devices
can measure the interest or emotions to a specific ad or picture.
