IMR Flashcards
Marketing concept
Business philosophy based on customer orientation, goals orientation and system orientation
Marketing mix
unique blend of product, price, promotion and distribution strategies to meet the need of a market
Marketing research
collection of data relevant to marketing decision making and the communication of results to management –> descriptive, diagnostic and predictive function
Return on quality
quality being delivered is at a level desired by the target market and must have a positive impact of profitability
User generated programmed content (UGC)
social media to follow peoples preferences
Applied research
programmatic research, selective research, evaluative research
Programmatic research
research to develop a strategy for marketing options through market segmentation, consumer attitude, etc.–> arises from managements need to obtain a market overview periodically
Selective research
research used to test decision alternatives –> usually used when several options have been identified by programmatic research
Evaluative research
research done to assess program performance
situation analysis
studying decision-making environment within which the marketing research will take place
exploratory research (qualitative)
research conducted to increase the understanding of a concept, to clarify the exact nature of the problem or to identify important variables to be studies (! Obtaining insights to clarify problems)
pilot study
whether crucial components of the main study will be feasible
iceberg principle
do not stop at the symptoms of the problem, go deeper
marketing research problem
statement specifying the type of information needed to help solve the problem and how that info can be obtained efficiently and effectively
marketing research objective
goal statement defining the specific info needed to solve the marketing research problem