Topic 3 Marketing Information System and Marketing Research

Question 1

Big data

Answer 1

The huge and complex data sets generated by today’s sophisticated
information generation, collection, storage, and analysis technologies.

Question 2

Customer insights

Answer 2

Fresh marketing information-based
understandings of customers and the marketplace that become the basis for creating customer value, engagement, and relationships.

Question 3

Marketing information system (MIS)

Answer 3

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.

Question 4

Internal databases

Answer 4

Collections of consumer and market
information obtained from data sources
within the company network.

Question 5

Competitive marketing intelligence

Answer 5

The systematic monitoring, collection,
and analysis of publicly available
information about consumers, competitors, and developments in the
marketing environment

Question 6

Marketing research

Answer 6

The systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.

Question 7

Exploratory research

Answer 7

Marketing research to gather preliminary
information that will help define problems
and suggest hypotheses.

Question 8

Descriptive research

Answer 8

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

Question 9

Causal research

Answer 9

Marketing research to test hypotheses
about cause-and-effect relationships.

Question 10

Secondary data

Answer 10

Information that already exists
somewhere, having been collected for
another purpose.

Question 11

Primary data

Answer 11

Information collected for the specific
purpose at hand

Question 12

Observational research

Answer 12

Gathering primary data by observing
relevant people, actions, and situations

Question 13

Ethnographic research

Answer 13

A form of observational research that
involves sending trained observers to
watch and interact with consumers in
their “natural environments.”

Question 14

Survey research

Answer 14

Gathering primary data by asking people
questions about their knowledge, attitudes, preferences, and buying behavior.

Question 15

Experimental research

Answer 15

Gathering primary data by selecting
matched groups of subjects, giving them
different treatments, controlling related
factors, and checking for differences in
group responses.

Question 16

Focus group interviewing

Answer 16

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.

Question 17

Online marketing research

Answer 17

Collecting primary data through internet
and mobile surveys, online focus groups,
consumer tracking, experiments, and
online panels and brand communities.

Question 18

Online focus groups

Answer 18

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

Question 19

Behavioral targeting

Answer 19

Using online consumer tracking data to target advertisements and marketing offers to specific consumers

Question 20

Sample

Answer 20

A segment of the population selected
for marketing research to represent the population as a whole

Question 21

Probability Samples

Answer 21

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

Question 22

Nonprobability Sample

Answer 22

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.

Question 23

Research Instruments

Answer 23

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

Question 24

Customer relationship
management (CRM)

Answer 24

Managing detailed information about
individual customers and carefully
managing customer touch points to
maximize customer loyalty

Question 25

Marketing analytics

Answer 25

The analysis tools, technologies, and
processes by which marketers dig out
meaningful patterns in big data to gain
customer insights and gauge marketing
performance