Chapter 4 Terms

Question 1

Marketing Information System (MIS)

Answer 1

A process that first determines what information marketing managers need and then gathers, sorts, analyzes, stores, and distributes relevant and timely marketing information to system users

Question 2

Marketing Intelligence

Answer 2

The everyday information relevant to a company’s markets, gathered and analyzed specifically for the purpose of accurate and confident decision-making in determining market opportunity, market penetration strategy, and market development metrics

Question 3

Market Intelligence System

Answer 3

A method by which marketers get information about what’s going on in the world that is relevant to their business

Question 4

Market Research

Answer 4

The process of collecting, analyzing, and interpreting data about customers, competitors, and the business environment in order to improve marketing effectiveness

Question 5

Syndicated Research

Answer 5

Research by firms that collect data on a regular basis and sell the reports to multiple firms

Question 6

Custom Research

Answer 6

Research conducted for a single firm to provide specific information its managers need

Question 7

Data

Answer 7

Raw, unorganized facts that need to be processed

Question 8

Information

Answer 8

Interpreted data

Question 9

Customer Insights

Answer 9

The collection, deployment, and interpretation of information that allows a business to acquire, develop, and retain their customers

Question 10

Research Design

Answer 10

A plan that specifies what information marketers will collect and what type of study they will do

Question 11

Secondary Data

Answer 11

Data that have been collected for some purpose other than the problem at hand

Question 12

Primary Data

Answer 12

Data from research conducted to help make a specific decision

Question 13

Exploratory Research

Answer 13

A technique that marketers use to generate insights for future, more rigorous studies

Question 14

Interview

Answer 14

Type of one on one research to get information

Question 15

Focus Group

Answer 15

A product-oriented discussion among a small group of consumers led by a trained moderator.

Question 16

Ethnography

Answer 16

An approach to research based on observations of people in their own homes or communities

Question 17

Descriptive Research

Answer 17

A tool that probes more systematically into the problem and bases its conclusions on large numbers of observations

Question 18

Cross-Sectional Design

Answer 18

A type of descriptive technique that involves the systematic collection of quantitative information

Question 19

Longitudinal Design

Answer 19

A technique that tracks the responses of the same sample of respondents over time

Question 20

Causal Research

Answer 20

A technique that attempts to understand cause-and-effect relationships

Question 21

Experiments

Answer 21

A technique that tests predicted relationships among variables in a controlled environment

Question 22

Neuromarketing

Answer 22

A type of brain research that uses technologies such as functional magnetic resonance imaging (fMRI) to measure brain activity to better understand why consumers make the decisions they do

Question 23

Mall Intercept

Answer 23

A study in which researchers recruit shoppers in malls or other public areas

Question 24

Mechanical Observation

Answer 24

A method of primary data collection that relies on machines to capture human behavior in a form that allows for future analysis and interpretation

Question 25

Eye Tracking Technology

Answer 25

A type of mechanical observation technology that uses sensors and sophisticated software to track the position and movement of an individual’s eyes to gain context-specific insights into how individuals interact with and respond to different visual elements and stimuli

Question 26

Validity

Answer 26

The extent to which research actually measures what it was intended to measure

Question 27

Reliability

Answer 27

The extent to which research measurement techniques are free of errors

Question 28

Representativeness

Answer 28

The extent to which consumers in a study are similar to a larger group in which the organization has an interest

Question 29

Sampling

Answer 29

The process of selecting respondents for a study

Question 30

Probability Sample

Answer 30

A sample in which each member of the population has some known chance of being included

Question 31

Non-probability Sample

Answer 31

A sample in which personal judgment is used to select respondents

Question 32

Convenience Sample

Answer 32

A nonprobability sample composed of individuals who just happen to be available when and where the data are being collected