Module 7 & 8: Marketing Research and Consumer Behavior Flashcards
Marketing Research
the act of collecting, interpreting, and reporting information concerning a clearly defined marketing problem
The Marketing Research Process
- defining the problem and research objectives
- developing the research plan for collecting information
- implementing the research plan – collecting and analyzing the data
- interpreting and reporting the findings
Exploratory Research
used to gather preliminary information and helps to define problems and suggest hypothesis
Descriptive Research
used to better describe the market potential for a product or the demographics and attitude of consumers
Casual Research
used to test hypothesis about cause and effect relationships
Observational Research
gathering primary data by observing relevant people, actions, and situations
Ethnographic Research
sending trained observers to watch and interact with consumers in their natural environment
Survey Research
asking people questions about their knowledge, attitudes, preferences, and buying behavior
Experimental Research
selecting matched groups of subjects, giving them different treatments, controlling related factors, and checking for differences in group responses
Online Marketing Research
data is collected through internet surveys, online focus groups, web-based experiments, and tracking consumers’ online behavior
Online Listening
provides valuable insights into what consumers are saying or feeling about a brand
Behavioral Targeting
uses online consumer tracking data to target advertisements and marketing offers to specific customers
Social Targeting
mines individual online social connections and conversations from social networking sites
Consumer Buyer Behavior
buying behavior of final consumersco
Consumer Market
all the individuals and households that buy or acquire goods and services for personal consumption
External Information Search
consumers seeks information beyond their personal knowledge and experience
Internal Information Search
consumers use past experience with items from the same brand or product class as sources of information
Evaluative Criteria
consists of attributes that consumers consider important about a certain product
Cognitive Dissonance
mental conflict that occurs when consumers acquire new information that contradicts their beliefs or assumptions about the purchase
Culture
set of basic values, perceptions, wants, and behaviors learned by an individual from family and other important institutions
Subculture
group of people with shared value systems based on common life experiences and situations
Total Market Strategy
integrates ethnic themes and cross-cultural perspectives with a brand’s mainstream marketing
Social Class
relatively permanent and ordered divisions in a society whose members share similar values, interests, and behaviors
Social Factors
groups, word-of-the-mouth influence, opinion leaders, family, roles and status, online social networks
