Chapter 4 Terms Flashcards
Marketing Information System (MIS)
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
Marketing Intelligence
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
Market Intelligence System
A method by which marketers get information about what’s going on in the world that is relevant to their business
Market Research
The process of collecting, analyzing, and interpreting data about customers, competitors, and the business environment in order to improve marketing effectiveness
Syndicated Research
Research by firms that collect data on a regular basis and sell the reports to multiple firms
Custom Research
Research conducted for a single firm to provide specific information its managers need
Data
Raw, unorganized facts that need to be processed
Information
Interpreted data
Customer Insights
The collection, deployment, and interpretation of information that allows a business to acquire, develop, and retain their customers
Research Design
A plan that specifies what information marketers will collect and what type of study they will do
Secondary Data
Data that have been collected for some purpose other than the problem at hand
Primary Data
Data from research conducted to help make a specific decision
Exploratory Research
A technique that marketers use to generate insights for future, more rigorous studies
Interview
Type of one on one research to get information
Focus Group
A product-oriented discussion among a small group of consumers led by a trained moderator.
Ethnography
An approach to research based on observations of people in their own homes or communities
Descriptive Research
A tool that probes more systematically into the problem and bases its conclusions on large numbers of observations
Cross-Sectional Design
A type of descriptive technique that involves the systematic collection of quantitative information
Longitudinal Design
A technique that tracks the responses of the same sample of respondents over time
Causal Research
A technique that attempts to understand cause-and-effect relationships
Experiments
A technique that tests predicted relationships among variables in a controlled environment
Neuromarketing
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
Mall Intercept
A study in which researchers recruit shoppers in malls or other public areas
Mechanical Observation
A method of primary data collection that relies on machines to capture human behavior in a form that allows for future analysis and interpretation
