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MKT Research 1

TermDefinition
marketing activity, set of institutions, and process for creating, capturing, communicating, delivering, and exchanging offerings that have value for customers
qualitative research that focuses on the why - attitudes, feelings, motivations - less structured, smaller sample, subjective analysis
applied research research conducted to address a specific marketing decision for a specific firm or organization
basic research research conducted without a specific decision in mind that usually does not address the needs of a specific organization. It attempts to expand the limits of marketing knowledge in general
exploratory research conducted to clarify ambiguous situations or discover ideas that may be potential business opportunities
purpose of exploratory research to explore
emphasis of exploratory research quick and cheap
CRM part of a decision support system that characterizes interactions between the firm and customer
database marketing practice of using CRM databases to develop one to one relationships and create precisely targeted promotions
data mining use of statistical and analytical routines to dig through volumes of data to discover non-obvious patterns hidden in a database
customer acquisition looking for common attributes
customer retention identify vulnerable customers and keep with special offers
customer abandonment identify attributes of non profitable customers
market basket analysis identify products typically purchased together by customers with given attributes
uses of data mining customer acquisition, customer retention, customer abandonment, market basket analysis
GIS computer based systems using secondary and primary data to generate maps that display spatial data graphically
applications of GIS routing/logistics, site selection, promotional
privacy concerns unsolicited sales promotions, database info being bought and sold
cookies small data files that a content provider can save onto the computer of someone who visits its website
Created by: jennafarnsworth
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