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Market Research
Term | Definition |
---|---|
Marketing Research | marketing research is the systematic gathering, recording, & analysis of data about issues relating to marketing products & services |
Marketing Information System | A set of Procedures & Methods for the regular, planned collection, analysis, and presentation of information for use in making management decisions |
Observation Method | A Method of Data collection in which the situation of interest is watched & the relevant facts, actions, or behaviors recorded |
Primary Data | The information collected specifically for the purpose of the investigation at hand |
Quantitative Research | research that uses numerical analysis |
Qualitative Research | Data-Gathering Techniques that are focused on the significance of observations made in a study rather than the raw numbers themselves |
Reliability | Determines how consistently an instrument yields similar results under varying conditions |
Secondary Data | the statistics not gathered for the immediate study at hand but for some other purpose |
Validity | The Degree to which the instrument measures whats its supposed to measure |
Focus Group | A personal interview conducted among a small number of individuals simultaneously the interview relies more on group discussions than on a series of directed questions to generate data |