Week Five Flashcards
Marketing information system (MIS)
provides information to the company’s marketers and other personel, plus key partners such as suppliers and marketing service agencies
Provides managers with happenings data
Internal records system
supplies managers with results data
Marketing Intelligence
is a set of proceedures and sources used by managers to obtain their everyday information about pertinent developments in the marketing environment
It involves the systematic collection and analysis of publicly available information about consumers, competitors and developments in the marketplace
Marketing research
Marketing research is the systematice design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organisation
Marketing decision support system
A Marketing decision support system is a set of statistical tools and decision models with supporting software available to marketing managers to assist them in analysing data and making better marketing decisions
Marketing research can
Marketing research can provide relevent up-to-date information on market indicate trends, take the guess work out of decision making
Marketing research cannot
Marketing research cannot provide a miracle cure or make your decisions for you
The major reasons why many companies have low pay offs for their marketing research are:
1) a lack of well-defined marketing objectives
2) poor problem definition
3) misinterpereted results
4) people don’t necessarily do what they say
kotler’s marketing research process is
1) defining the problem and research objectives
2) developing the research plan for collecting information
3) implementing the research plan (collecting and analysing the data)
4) interpreting and reporting the findings
briggs 8 step process is
1) define the objective of the project
2) conduct a situation analysis
3) conduct an informal investigation
4) decide if further investigation is necessary
5) plan and conduct a formal investication
6) analyse and interpret the data
7) prepare a written report for management
8) follow up the study
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 and random samples are drawn from each group
cluster sample
the population is divided into mutually exclusive groups and the researcher draws a sample
convenience sample
convenience sample the research selects the easiest population members
judgement sample
the researcher uses their judgement to select population members
