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Chp. 4 Marketing

QuestionAnswer
Customer insights Fresh understandings of customers and the marketplace derived from marketing information that become the basis for creating customer value and relationships.
Marketing information system People and procedures for 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 Electronic collections of consumer and market information obtained from data sources within the company network.
Marketing intelligence The systematic 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.
Commercial online databases Computerized collections of information available from online commercial sources or via the internet.
Observational research Gathering primary data by observing relevant people, actions, and situations.
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 six to ten 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 online through internet surveys, online focus groups, Web based experiments, or tracking consumers online behavior.
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.
Sample A segment of the population selected for marketing research to represent the population as a whole.
Customer relationship management Managing detailed information about individual customers and carefully managing customer "touch points" in order to maximize customer loyalty.
Created by: tgrant1
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