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Marketing Ch.4
MKT chapter 4
| Term | Definition |
|---|---|
| Market Research Ethics | taking an ethical and above board approach to conducting market research that does no harm to the participant in the process of conducting the research |
| Database | an organized collection (often electronic) of data that can be searched and queried to provide information about contacts, products, customers, inventory and more |
| Marketing Information System (MIS) | a process that first determines what information marketing managers need and then gathers and sorts, analyzes, stores and distributes relevant and timely marketing information to system users. |
| internal company data, market intelligence, market research, acquired databases | what are 4 types of data? |
| 1. Four types of data- internal company data, market intelligence, market research, acquired databases 2. Computer hardware and software to analyze the data and to create reports 3. Output for marketing decision makers | what are the 3 components of an MIS system? |
| Intranet | an internal corporate communication network that uses Internet technology to link company departments, employees, and databases |
| Market Intelligence System | a method by which marketers get information about everyday happening in the marketing environment |
| Reverse Engineering | the process of physically deconstructing a competitor's product to determine how it is put together |
| Market Research | the processes of collecting, analyzing, and interpreting data about customers, competitors, and the business environment in order to improve market effectiveness |
| Syndicated Research and Custom Research | What are two forms of market research? |
| Syndicated Research | research by firms that collect data on a regular basis and sell the reports to multiple firms ● EX: appeal of cartoon characters, sports stars |
| Custom Research | research conducted for a single firm to provide specific information its managers need- helps them know more about why certain trends have surfaced |
| Marketing Decision Support System (MDSS) | the data, analysis software, and interactive software that allow managers to conduct analyses and find the information they need |
| Multidimensional scaling/ Perceptual Map | manager wants to know how people perceive her brand in comparison to competing brands |
| Data | raw, unorganized facts that need to be processed |
| Customer Insights | the collection, deployment, and interpretation of information that allows a business to acquire, develop and retain their customers |
| Silo | the people in new product development would have zero contact with anyone in customer service |
| 1) Define the research problem 2) Determine the research design 3) Choose the method to collect primary data 4) Design the sample 5) Collect the data 6) Analyze and Interpret the data 7) Prepare the research report | What are the steps in the market research process? |
| Research Objective | determines the consumer population the company will study |
| Research Design | a plan that specifies what information marketers will collect and what type of study they will do |
| Secondary Data | data that have been collected for some purpose other than the problem at hand ■ EX: National Consumer Survey |
| Primary Data | data from research conducted to help make a specific decision |
| ■ Company reports ■ Previous company research ■ Salesperson feedback ■ Customer feedback | What are secondary internal research sources? |
| ■ Published research ■ Trade organizations ■ Syndicated research ■ Government sources | What are secondary external research sources? |
| Exploratory Research | a technique that marketers use to generate insights for future, more rigorous studies. Involve in depth probing of a few consumers who fit the profile of a “typical” customer |
| Focus Group | a product-oriented discussion among a small group of consumers led by a trained moderator. The group all has something in common. ■ Projective techniques |
| Case studies | a comprehensive examination of a particular firm or organization, goal is to know the key decision maker |
| Ethnographies | an approach to research based on observations of people in their own homes or communities |
| Descriptive Research | a tool that probes into the problem & bases its conclusion on large number of observations- enough to get some indication of what is going on but not enough for the marketer to feel confident about generalizing what she observes about the population |
| Cross-sectional design | a type of descriptive technique that involves the systematic collection of quantitative information ● EX: questionnaire |
| Longitudinal | a technique that tracks the responses of the same sample of respondents over time- “one shot study” ● EX: advisory panels |
| Casual Research | a technique that attempts to understand cause-and-effect relationship |
| Experiments | a technique that tests predicted relationships among variables in a controlled environment |
| Neuromarketing | a type of brain research that uses technologies such as functional magnetic resonance imaging (fMRI) to measure brain activity to better understand why consumers make the decisions they do |
| Unobtrusive measures | measuring traces of physical evidence that remain after some action has been taken ■ EX: pantry check, going through the garbage |
| Mechanical Observation | a method of primary data collection that relies on nonhuman devices to record behavior |
| Cookies | text files inserted by a website sponsor into a Web surfer’s hard drive that allows the site to track the surfer’s moves |
| Predictive Technology | analysis techniques that use shopping patterns of large numbers of people to determine which products are likely to be purchased if others are |
| Bounce Rate | analyzes website traffic. It represents the percentage of visitors who enter the website and bounce rather than continue viewing other pages within the same overall site ■ Total number of visitors viewing only one page/ total entries to the web page |
| validity, reliability, and representativeness | Three factors influence the quality of research: |
| Validity | the extent to which research actually measures what it was intended to measure |
| Reliability | the extent to which research measurement techniques are free of errors |
| Representativeness | the extent to which consumers in a study are similar to a larger groups in which the organization has an interest |
| Sampling | the process of selecting respondents for a study |
| Probability Sample | a sample in which each member of the population has some known chance of being included |
| Simple random sample | every member of a population has a known and equal chance of being included in the study |
| Non-probabilty sample | a sample in which personal judgement is used to select respondents |
| Convenience Sample | a nonprobability sample composed of individuals who just happen to be available when and where the data are being collected- guinea pigs |
| Quota Sample | includes the same proportion of individuals with certain characteristics in the population |
| Back-translation | the process of translating material to a foreign language and then back to the original language |
| Bounce Rate | a measure of how many visitors come to a page on a website and leave without viewing any other pages |
| Bounce Rate Equation | total number of visitors viewing one page only/ total entries to the web page |
Created by:
acorso3
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