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Mkting Ch 8
Test 2
Question | Answer |
---|---|
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 | Adv: -Time saving - low cost Disadv: -out-of-date -not specific |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 |