Chapter 4

Question 1

Customer insights

Answer 1

Fresh understandings of customers and the marketplace 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 use the information to generate and validate actionable customer and market insights

Question 3

Internal databases

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 developments 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 organisation

Question 6

Qualitative research

Answer 6

Studies involving a small number of individuals, such as focus groups or in-depth one-to-one interviews. The primary tool in qualitative research is the focus group, but this includes modern variations such as online focus groups and teleconferences. One-on-one interviews are used to delve deeply into the topic

Question 7

Quantitative research

Answer 7

Studies involving ‘a lot’ of people. It uses statistical average techniques such as mean ratings, and statistical tools such as sampling error and standard error, to analyse data. There is no stated number of people who must be interviewed to make a study quantitive, but samples of 100 or more are usually considered quantitive.

Question 8

Exploratory research

Answer 8

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

Question 9

Descriptive research

Answer 9

Marketing research used to better describe marketing problems, situations or markets

Question 10

Casual research

Answer 10

Marketing research used to test hypotheses and cause-and-effect relationships

Question 11

Secondary data

Answer 11

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

Question 12

Primary data

Answer 12

Information collected for the specific purpose at hand

Question 13

Commercial online databases

Answer 13

Computerised collections of information available from online commercial sources or via the internet

Question 14

Observational research

Answer 14

Gathering primary data by observing relevant people, actions and situations

Question 15

Ethnographic research

Answer 15

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

Question 16

Netnographic research

Answer 16

Like ethnographic research, which observes people in natural settings, netnographic research involves monitoring online communities of interest to gain customer insights from posts to online forums, blogs and social media

Question 17

Survey research

Answer 17

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

Question 18

Experimental research

Answer 18

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

Question 19

Focus group interviewing

Answer 19

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 organisation. The interviewer ‘focuses’ the group discussion on important issues

Question 20

Online marketing research

Answer 20

Collecting primary data online through internet surveys, online focus groups, web-based experiments or tracking consumers’ online behaviour

Question 21

Online focus groups

Answer 21

Gathering a small group of people online with a trained moderator to chat about a product, service or organisation, and gain qualitative insights about consumer attitudes and behaviour

Question 22

Sample

Answer 22

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

Question 23

Customer relationship management (CRM)

Answer 23

Managing detailed information about individual customers and carefully managing customer touch points in order to maximise customer loyalty