Chapter 4

Question 1

Customer insights

Answer 1

Fresh understandings of customers and the market place derived from marketing information that become the basis for creating customer value and relationships

Question 2

Marketing information system

MIS

Answer 2

People and procedures dedicated to assessing information needs, developing the needed information, and helping decision makers to use the information to generate customer and market insights

Question 3

Internal data

Answer 3

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

Question 4

Competitive marketing intelligence

Answer 4

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

Question 5

Marketing research

Answer 5

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

Question 6

Exploratory research

Answer 6

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

Question 7

Descriptive research

Answer 7

Marketing research to better describe marketing problems, situations, or markets, such as the market potential for a product or demographics and attitudes of consumers

Question 8

Casual research

Answer 8

Marketing research to test hypotheses about cause and effect relationships

Question 9

Secondary data

Answer 9

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

Question 10

Primary data

Answer 10

Information collected for the specific purpose at hand

Question 11

Research approaches

Answer 11

Different ways to collect primary data

Question 12

Observational research

Answer 12

Gathering data by observing relevant people, actions, and situations

Trader Joe’s

Exploratory research

Question 13

Ethnographic research

Answer 13

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

Question 14

Survey research

Answer 14

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

Descriptive research

Question 15

Experimental research

Answer 15

Gathering information by testing groups of people by putting the in experiments and seeing how they respond

Casual research

Question 16

Focus group interviewing

Answer 16

Personal small group interviewing that involves inviting people to gather for a few hours and with a moderator talk about products services or organizations

Question 17

Online marketing research

Answer 17

Collecting primary data through online internet surveys online focus groups web based experiments or tracking consumers online behavior

Question 18

Online focus groups

Answer 18

Focus groups that r online

Question 19

Behavioral targeting

Answer 19

Using online consumers tracking data to target advertisements and marketing offers to specific consumers

Question 20

Sample

Answer 20

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

Question 21

Customer relationships management

Answer 21

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