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Mkting Ch 8

Test 2

In a decision, the restrictions placed on potential solutions to a problem. constraints
The facts and figures related to the problem, divided into two main parts: secondary data and primary data. data
The process of defining a mkting problem and opportunity, systematical collecting and analyzing information, and recommending actions. marketing research
Criteria or standards used in evaluating proposed solutions to a problem. measures of success
Facts and figures obtained by watching, either mechanically or in person, how people actually behave. observational data
Facts and figures that are newly collected for a project. primary data
Facts and figures obtained by asking people about their attitudes, awareness, intentions, and behaviors. questionnaire data
The total sales of a product that firm expects to sell during a specified time periods under specified environmental conditions and its own marketing efforts. sales forecast
Facts and figures that have already been recorded before the project at hand. secondary data
Name the 5 mkting research steps 1. Problem 2. Plan 3. Info 4. Findings 5. Actions
How do info tech. & data mining lead to mkting actions? -Info tech. is mkting data that is stored, accessed, and processed -Data mining involves finding statistical relationships
Name the 3 developing sales forecasts. 1. judgements of decision maker 2. Surveys of knowledgeable groups 3. statistical
Explain the opening chapter example - Movies. Production companies do test screenings involving 300-400 people for a "sneak preview" then they take a survey to identify improvements
What are some adv. & disadv. of secondary data? Adv: -Time saving - low cost Disadv: -out-of-date -not specific
What 2 ways do you define mkting problems? (5 mkting research steps) 1. Objectives 2. Actions
What 3 ways do you develop a research plan? (5 mkting research steps) 1. Constraints 2. Data Needed 3. How to collect data (Concepts & Methods)
What 2 ways can you collect relevant information? (5 mkting research steps) 1. Secondary Data (Internal & External) 2. Primary Data
What 2 things do you do with your marketing findings? (5 mkting research steps) 1. Analyze 2. Present
What marketing actions do you take? (5 mkting research steps) 1. Recommendations 2. Implementation 3. Evaluate Results
What example did the book refer to the most? Fisher-Price "Chatter Telephone"
What does judgements of the decision maker consists of? 1. Direct Forecast 2. Lost-horse forecast
What do surveys of knowledgeable groups consists of? 1. Survey of buyers' intensions forecast 2. sales-force survey forecast
What do statistical forecast consist of? 1. Linear trend exploration
Created by: mwoltner
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