Brainscape's Knowledge GenomeTM


Top Flashcards (Certified)
All Flashcards

Marketing > Final > Flashcards

Final Flashcards

1
Q

What is the main purpose of market research?

A

To connect consumers, customers, and the public through information.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What is the first step in creating a research study?

A

Define the marketing problem, research objectives, and decisions to be made.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What is exploratory research?

A

Small-scale research often using interviews or focus groups to understand unclear market or consumer behaviors.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

What is conclusive research?

A

Large-scale, quantitative research used to make decisions and find relationships between variables.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

What is syndicated data?

A

Data already collected for an industry; usually purchased.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

What is the difference between secondary and primary data?

A

Secondary data already exists and may be free; primary data is collected specifically for your study and can be expensive.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What is concept testing?

A

Testing new product ideas with potential customers to gauge interest.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

What is the goal of segmentation research?

A

To divide the market into segments to identify new marketing opportunities.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What are the three Vs of big data?

A

Volume, Velocity, and Variety.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What’s the difference between structured and unstructured big data?

A

Structured data is organized and easily analyzed; unstructured data includes formats like text, video, or audio.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Why is sampling important?

A

It’s a cheap and fast way to draw conclusions, often more reliable than a bad large sample.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What is a nominal scale?

A

A labeling scale used for categorization (e.g., male/female).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

What is an ordinal scale?

A

A ranking scale showing order without consistent intervals (e.g., race finishers).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What is an interval scale?

A

A scale with equal intervals but no true zero (e.g., temperature ratings).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

What is a ratio scale?

A

A scale with equal intervals and a true zero, allowing for full mathematical operations.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What is validity in research?

A

The degree to which a measurement accurately reflects the concept being studied.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

What is reliability in research?

A

The consistency of a measurement over time.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

What is a null hypothesis?

A

A statement that there is no effect or relationship between two variables.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

What does a small p-value indicate?

A

Strong evidence against the null hypothesis.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

What is TURF analysis?

A

Identifies the best product mix that reaches the largest number of customers without overlap.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

What is conjoint analysis?

A

A technique to understand how customers value different product features.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

What is cluster analysis?

A

Grouping customers based on shared characteristics.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

What is coverage error?

A

When the sample does not represent the target population.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

What is qualitative research?

A

Non-numerical research aimed at understanding behaviors and beliefs.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
What is quantitative research?
Numerical research focused on patterns and predictions.
26
What is marketing analytics?
The practice of collecting and analyzing marketing data to evaluate effectiveness and optimize business objectives.
27
What questions can marketing analytics help answer?
Sources of web traffic, conversion efficiency, social media engagement, ad effectiveness, website performance.
28
What are 4 common uses of marketing analytics in companies?
Segmentation, strategy evaluation (product/promotion/pricing), branding monitoring, and social media effectiveness.
29
Why is marketing analytics important for businesses?
It supports managerial decisions with data-driven insights.
30
What is consumer insight?
An accurate, deep, and intuitive understanding of consumer behavior and preferences.
31
Why is consumer insight important in marketing?
It helps marketers understand what captures consumer attention and guides buying habits.
32
What is data exploration?
Sorting through data to identify patterns or outliers.
33
What is predictive analytics?
Using historical data to predict future outcomes.
34
What is machine learning in marketing analytics?
Using algorithms that improve predictions in real time based on user behavior.
35
What is a data product?
A product that uses data to facilitate an end goal (e.g, Amazon recommendations).
36
What are the four steps in the big data analytics process?
Data wrangling, data exploration, data modeling, and data deployment/socialization.
37
What's important when interpreting data?
Use both numbers and open-ended responses, understand averages, focus on actionable insights.
38
What is qualitative data analysis?
In-depth examination of non-numerical data to find themes and insights.
39
What are focus groups?
Small group discussions (8-10 people) from a target demographic for product feedback.
40
What are depth interviews?
One-on-one interviews for deeper consumer insight, often conducted in personal settings.
41
What are cross tabulations?
Grouping data by variables (like age and response) to identify patterns, often visualized in charts. (Frequency count)
42
What is quantitative data analysis?
Analysis of numerical data to answer questions about amounts, frequency, and statistics.
43
What is analysis of variance (ANOVA)?
A test for significant differences between group means.
44
What is regression analysis?
Identifies relationships between independent variables (e.g, ad spend) and outcomes (e.g, sales).
45
What is factor analysis?
Groups related variables into factors to simplify data.
46
What is cluster analysis?
Segments people into groups based on similar traits or behaviors.
47
What is max-diff analysis?
A technique where respondents pick the best and worst options, ideal for preference testing.
48
What is TURF analysis?
Determines the optimal combination of products to maximize reach.
49
What is conjoint analysis?
An analysis system that deconstructs products into component attributes, estimates the value of each component attribute in order to evaluate value of a product
50
What is discriminant analysis?
Uses variables to classify items or people into categories and create perceptual brand maps.
51
What are key elements in a marketing research presentation?
Decisions, sample, questions, answers, recommendations, appendix.
52
How should you present your data?
As a story tailored to your audience, using familiar language and a clear message.
53
What's the 'begin with the end in mind' principle?
Know what you want your audience to understand and do after your presentation.
54
What are key areas where AI supports marketing?
Language, content creation, product personalization, email marketing, consumer insights, ad copywriting, prediction, sales lead scoring, churn estimation, sales forecasting, market trend analysis, dynamic pricing, emotion detection, image recognition, brand monitoring, and language interpretation.
55
What are personas in marketing AI?
Generalized representations of customers - not always fully accurate.
56
What is Language AI used for in marketing?
Generating personalized messages at scale and improving communication between humans and machines.
57
What can Vision AI do?
Recognize emotions, faces, images, movement; even create realistic fake videos using software.
58
What is Predictive AI?
Uses machine learning to improve predictions by continuously updating models with new data.
59
How does AI help with segmentation, targeting, and positioning?
By dividing the market, selecting promising segments, and optimizing marketing mix strategies.
60
How can AI help analyze the competitive environment?
Through SEO/content strategy analysis, social media monitoring, benchmarking, sentiment analysis, and innovation tracking.
61
What is sentiment analysis?
AI's ability to evaluate customer reactions (positive/negative) toward a brand or product.

Marketing (7 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions