Chapter Four Flashcards
Customer insights
Fresh understandings of customers and the marketplace derived from marketing information that become the basis for creating customer value and relationships.
Marketing information system (MIS)
People and procedures for assessing information needs, developing the needed information, and helping decision makers to use the information to generate and validate actionable customer and market insights.
Internal databases
Electronic collections of consumer and market information obtained from data sources within the company network.
Competitive marketing intelligence
The systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketing environment.
Marketing research
The systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organisation.
Exploratory research
Marketing research to gather preliminary information that will help define problems and suggest hypotheses.
Descriptive research
Marketing research to better describe marketing problems, situations, or markets, such as the market potential for a product or the demographics and attitudes of consumers.
Causal research
Marketing research to test hypotheses about cause-and-effect relationships.
Secondary data
Information that already exists somewhere, having been collected for another purpose.
Primary data
Information collected for the specific purpose at hand.
Commercial online databases
Collections of information available from online commercial sources or accessible via the Internet.
Observational research
Gathering primary data by observing relevant people, actions and situations.
Ethnographic research
A form of observational research that involves sending trained observers to watch and interact with consumers in their ‘natural environments’.
Survey research
Gathering primary data by asking people questions about their knowledge, attitudes, preferences and buying behaviour.
Experimental research
Gathering primary data by selecting matched groups of subjects, giving them different treatments, controlling related factors and checking for differences in group responses.
