Chapter 7 Flashcards
marketing research
Procedures that develop and analyze new information about a market
Marketing information system (MIS)
An organized way of continually gathering, accessing, and analyzing information that marketing managers need to make ongoing decisions
They anticipate the information they will need. They work to develop a _______________________ that is available and quickly accessible from an MIS when it’s needed
continual flow of information
Advances in information technology have ushered in ________ improvements in marketing information systems
radical
intranet
A system for linking computers within a company
*Maintains security, access to websites or data on an intranet is usually limited to employees
data warehouse
A place where databases are stored so that they are available when needed
An MIS system organizes incoming information into a data warehouse
Decisoin support system (DSS)
A computer program that makes it easy for a marketing manager to get and use information as he or she is making decisions
search engine
a computer program that helps a marketing manager find information
Marketing dashboard
Displays up-to-the-minute marketing data in an easy-to-read format
Marketing model
A statement of relationships among marketing variables
The manager can look at the sales (and costs) expected with different types of promotion and select the marketing mix that is best for that target market
Sales analysis
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A detailed breakdown of a company’s sales records
Scientific method
A decisoin-making approach that focuses on being objective and orderly in testing ideas before accepting them
Marketing research is guided by the scientific method
Hypotheses
Educated guesses about the reltationships between things or about what will happen in the future
Marketing research process
Five-step application of the scientific method that includes:
- Defining the problem
- Analyzing the situation
- Getting problem-specific data
- Interpreting the data
- Solving the problem
Situation analysis
An informal study of what information is already available in the problem area
Can help define the problem and specify what additional information, if any, is needed
secondary data
information that has been collected or published already
primary data
information specifically collected to solve a current problem
research proposal
A plan that specifies what information will be obtained and how
Two basic methods for obtaining information about customers:
Questioning and Observing
Qualitative research
Seeks in-depth, open ended responses, not yes or no answers
The researcher tries to get people to share their thoughts on a topic–without giving them many directions or guidelines about what to say
Focus group interview
Most widely used form of qualitative questioning in marketing research
Involves interviewing 6 to 10 people in an informal group setting
Open ended questions
Quantitative research
Seeks structured responses that can be summarized in numbers, like percentages, averages, or other statistics
Response Rate
The percentage of people contacted who complete the questionnaire
Consumer panels
A group of consumers who provide information on a continuing basis
Experimental method
Researchers compare the responses of two (or more) groups that are similar except on the characteristic being tested
Statistical packages
Easy-to-use computer programs tha analyze data
confidence intervals
The range on either side of an estimate that is likely to contain the true value for the whole populatioin
Validity
Concerns the extent to which data measures what it is intended to measure
