Chapter 5: Marketing Research Flashcards
Comparing two product versions to see which one performs better
A/B Testing
Measures how well and advertising campaign meets objectives
Advertising Effectiveness Studies
Tracking and compile individual consumer behaviors using technology.
Behavioral Targeting
The growth of information and the tools used to analyze it are called
Big Data
Researching a brand and analyzing the text-based data using special software.
Blog Mining
Used to understand the cause-and-effect relationships among variables
Causal Research
Collecting data about strategies that competitors are pursuing new product development and the marketing mix.
Competitive Intelligence
Sample drawn from easily accessible individuals
Convenience Sample
Examining responses from a single question in relation to other questions
Cross-tabulation
Represents the process of achieving a goal with a company
Customer Journey Map
Data put into a graphic
Data Visualization
Allows the access and use of stored information
Decision Support System (DSS)
Estimates consumer demand and its causes
Demand Analysis
Asking open-ended questions in order to understand how someone views a product and or brand
Depth Interview
Researches customer behavior
Descriptive Research
Data-collection method that sends trained observers to interact and view with a subject in their natural enviroment
Ethnographic Research
Research that seeks to help firms understand problems, or a customers thoughts, needs and, behavior.
Exploratory Research
Categorizing facial expressions in order to tell someones emotional response to content
Facial Coding
Examines how an interventions impact
Field Experiment
A small group (with moderator) focused on a specific topic or concept actively
Focus Group
Colored regions overlaid on a image
Heat Map
The people, technologies, and procedures aimed at supplying organizations marketing information needs
Marketing Information System
Information used to identify and define marketing opportunities and problems, creating and evaluating marketing actions, monitoring performance, and improving on our understanding of marketing.
Marketing Research
Brief expressions that occur when a emotion is experienced
Microexpression
Marketing research taken through participants mobile devices
Mobile Marketing Research
A moment when a brand leaves a lasting impression on an individual
Moment of Truth
Researchers hired to pose as customers in order to scope out the physical and behavioral aspects of a store
Mystery Shoppers
Using neuroscience to understand customer responses to stimuli
Neuromarketing
Sampling that does not ensure that each member of a population will have a chance at being selected
Nonprobability Sampling
Watching and recording behavior of others for relevant information.
Observation Research
Data collected from a group of consumers over an extended period of time
Panel Data
Represents the key traits and motivations of a customer base
Persona
Tools, techniques and algorithms used to recognize patterns
Predictive Analytics
Data used for the research problem
Primary Data
Sampling where every person has a change of being selected
Probability Sampling
Research based on quality’s of market phenomena
Qualitative Research
Producing identical results over and over
Reliability (of research)
Estimates how much of a product will sell
Sales Forecasting
A small group representing a larger population
Sampling
Data from UPC codes
Scanner Data
Information used prior to a study
Secondary Data
A short essay responding to specific open-ended questions
Semi-structured interview
Target population has an equal chance of selection
Simple random sampling
Collecting primary data from a sample of people
Survey
‘The extent to which a research instrument measures what it is intended to measure’
Validity
New-to-Market, New-Category, Product-line extentions, revamped products
ways to organize new products
(1) new-product strategy development, (2) Idea Generation, (3) Idea Screening, (4) business analysis, (5) product development, (6) test marketing, (7) product launch
The seven stages of new-product development
Listen to consumers, commit to the NPD process, understand current market trends, ask the right questions, be willing to fail
Ways to reduce new product failures
Awareness, Interest, Evaluation, Trial, Adoption
Five stages of the consumer-adoption process
Competitive Advantage, Compatibility, Observability, Complexity,Trialability
Characteristics that affect the adoption rate
Product, Place, Promotional, and Price
Four Ps of Marketing
Define Problem, Research Plan, Collect Data, Analyze the data, Present results & take action
Marketing Research Process
Sales Records, Customer Support Records, Accounting and Finance Information, Sales Reports, Supply Chain Information
Internal Company Data
