Chapter 5 - Market Research Flashcards
Marketing Information Systems
Procedure developed by a firm to gather, sort, analyze, store, and distribute relevant and timely marketing information to its managers.
Intranet
Internal corporate communication network that uses internet tech. to link company departments, employees, and databases.
Marketing Intelligence System
Method by which marketers get info. about everyday happenings in the marketing environment.
Scenarios
Possible future situations that futurists use to assess the likely impact of alternative marketing strategies.
Marketing Research
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.
Marketing Decision Support System
Data, analysis software, and interactive software that allow managers to conduct analyses and find the information they need.
Data mining
Sophisticated analysis techniques to take advantage of the massive amount of transaction info. now available.
Customer acquisition
Demographic and other info. about customers in a database.
Customer Retention
Identifying big-spending customers and targeting them for special offers
Customer Abandonment
Some customers cost the company too much money, so the firm sends them elsewhere.
Market basket analysis
Focused promotional strategies based on its records of which customers have bought certain products.
Marketing Research Steps
- Define the problem
- Determine the research technique
- Gather data
- Ensure the data quality
- Report the findings
- Take appropriate action
Define the Problem & Determine Technique
Level 1 - Exploratory (don’t know if problem exists)
Level 2 - Descriptive (describe the problem)
Level 3 - Causal (what caused the problem)
Qualitative Techniques - E
- Customer Interviews (one on one)
- Focus groups (discussion among small group)
- Case Studies (benchmark)
- Ethnographies (observation of people)
- Projective Studies (used to find underlying feelings)
Research Design
Plan that specifies what info. 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 in making a specific decision.
Exploratory Research
Used to generate insights for future, more rigorous studies.
Descriptive Research
Probes more systematically into a problem and bases its conclusions on a large number of observations (250).
- More rigorous
Quantitative Techniques - D
- Cross-sectional vs. longitudinal studies
- Surveys
- Personal Observation
- Mechanical Instruments (infrared trackers)
Unobtrusive Measures (don’t know about it)
Cross-sectional vs. Longitudinal
CS - Take info at one point in time
L - Choosing group and following the same group over time.
Causal Research
Attempts to understand cause and effect.
Causal Research Techniques
- Experiments (test variables in controlled area)
- Are there alternatives?
- Field Studies (real world)
Hawthorne Experiments
- Mayo
- Employees were more motivated if the conditions were improved and they realized they were being watched
- Both groups improved
- People were being paid attention to and leveled out because of soldiering (work slower when watched)
- CONCLUSION - EES FELT VALUED
Telemarketing
Use of phone to sell directly to consumers and business customers.
Data Quality
- Validity
- Reliability
- Representativeness
Validity
Extent to which research actually measures what it was intended to measure.
- Accuracy
Reliability
- Consistency
- The extent to which research measurement techniques are free of errors.
Responsiveness
- Extent to which customers in a study are similar to a larger group of interest.
- quality sample
Sampling
Process of selecting respondents who statistically represent a larger population of interest.
- Random sampling (best kind - everyone participates, have a frame or list)
- Quota sampling (identify all that should be included)
- Convenience sampling (whoever wants to participate)
Issues with sampling
- Size
- Response Rate
- Non-response bias
- Primary vs. Secondary
Back-translation
Process of translating material to a foreign language and then back to the original language.
Single-source data
Info. integrated from multiple sources to monitor the impact of marketing communications on a particular customer group over time.
Cookies
Text files inserted by a web site sponsor into a web surfer’s hard drive that allow the site to track the surfer’s moves.
