Topic 3 Marketing Information System and Marketing Research Flashcards
Big data
The huge and complex data sets generated by today’s sophisticated
information generation, collection, storage, and analysis technologies.
Customer insights
Fresh marketing information-based
understandings of customers and the marketplace that become the basis for creating customer value, engagement, and relationships.
Marketing information system (MIS)
People and procedures dedicated to 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
Collections of consumer and market
information obtained from data sources
within the company network.
Competitive marketing intelligence
The systematic monitoring, 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 organization.
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
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 behavior.
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.
Focus group interviewing
Personal interviewing that involves inviting
small groups of people to gather for a few hours with a trained interviewer to talk about a product, service, or organization.
The interviewer “focuses” the group
discussion on important issues.
Online marketing research
Collecting primary data through internet
and mobile surveys, online focus groups,
consumer tracking, experiments, and
online panels and brand communities.
Online focus groups
Gathering a small group of people online
with a trained moderator to chat about a product, service, or organization and
gain qualitative insights about consumer attitudes and behavior
Behavioral targeting
Using online consumer tracking data to target advertisements and marketing offers to specific consumers
Sample
A segment of the population selected
for marketing research to represent the population as a whole
Probability Samples
Simple random sample: Every member of the population has a known and equal chance of selection.
Stratified random sample: The population is divided into mutually exclusive groups (such as age groups), and random
samples are drawn from each group.
Cluster (area) sample: The population is divided into mutually exclusive groups (such as blocks), and the researcher draws a sample of the groups to interview
Nonprobability Sample
Convenience sample: The researcher selects the easiest population members from which to obtain information.
Judgment sample: The researcher uses his or her judgment to select population members who are good prospects for accurate information.
Quota sample: The researcher finds and interviews a prescribed number of people in each of several categories.
Research Instruments
Questionnaires - Open-ended questions are especially useful in exploratory research, when the researcher is trying to find out what people think but is not measuring how many people think
in a certain way. Closed-ended questions, on the other hand, provide answers that are
easier to interpret and tabulate.
Mechanical Instruments - used to monitor consumer behavior
Customer relationship
management (CRM)
Managing detailed information about
individual customers and carefully
managing customer touch points to
maximize customer loyalty
Marketing analytics
The analysis tools, technologies, and
processes by which marketers dig out
meaningful patterns in big data to gain
customer insights and gauge marketing
performance
