Chapter 4 Flashcards
Customer insights
Fresh understandings of customers and the marketplace derived from marketing information that become 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 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 developments in the marketing environment
Marketing research
The systematic design, collection, analysis and reporting of data relevant to a specific marketing situation facing an organisation
Qualitative research
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
Quantitative research
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.
Exploratory research
Marketing research used to gather preliminary information that will help to define problems and suggest hypotheses
Descriptive research
Marketing research used to better describe marketing problems, situations or markets
Casual research
Marketing research used to test hypotheses and 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
Commercial online databases
Computerised collections of information available from online commercial sources or via the internet
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 habitat’
Netnographic research
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
Survey research
Gathering primary data by asking people questions about their knowledge, attitudes, preferences and buying behaviour
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 organisation. The interviewer ‘focuses’ the group discussion on important issues
Online marketing research
Collecting primary data online through internet surveys, online focus groups, web-based experiments or tracking consumers’ online behaviour
Online focus groups
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
Sample
A segment of the population selected for marketing research to represent the population as a whole
Customer relationship management (CRM)
Managing detailed information about individual customers and carefully managing customer touch points in order to maximise customer loyalty
