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Mktg 3350 Chapter 1

Vocab

QuestionAnswer
Marketing research (MR) is the systematic and objective identification, collection, analysis, dissemination, and use of information for the purpose of improving decision making related to the identification and solution of problems and opportunities in marketing.
Problem identification involved: analysis of secondary data, focus groups, a market potential survey
Problem-solving research was in the form of: product research
Marketing Research Process Step 1: Defining the Problem Step 2: Developing an Approach to the Problem Step 3: Formulating a Research Design Step 4: Field Work and Data Collection Step 5: Data Preparation and Analysis Step 6: Preparation and Presentation of Report
Problem Identification Research Research undertaken to help identify problems that are not necessarily apparent or that are likely to arise in the future. (Market Potential Research, Market Research, ect.)
Problem Solving Research Research undertaken to help solve specific marketing problems
Marketing Research Industry The Marketing research industry consists of suppliers who provide marketing reseach services
Internal Suppliers Marketing reseach departments located within the firm
External Suppliers Outside marketing research companies hired to conduct a complete marketing research project or a component of it
Full-Service Suppliers Companies that offer the Full range of marketing research activities
Syndicated Services Companies that collect and sell common pools of data designed to serve the information needs of multiple clients
Customized Services Companies that tailor research procedures to best meet the needs of each client
Internet Services Companies that specialize in conducting research on the internet
Limited Service Suppliers Companies that specialize in one or a few phases of the marketing research project
Field Services Companies whose primary service offering is their expertise in collecting data for research projects
Focus Groups and Qualitative Services Services related to facilities recruitment, and other services for focus groups and other forms of qualitative research, such as one on one depth interviews
Technical and Analytical Services Services related to design issues and computer analysis of quantitative data, such as those obtained in large surveys
Marketing information Systems A formalized set of procedures for generating, analyzing, storing, and distributing pertinent information to marketing decision makers on an ongoing basis
Decision support systems An information system that enables decision makers to interact directly with both databases and analysis models. The important components of a DSS include hardware and a communication network, database, software base and the DSS user (decision maker)
Third Wave Denotes the move away from information-based decision making to system-based decisions and involves a number of developments centered on DSS and expert systems
Created by: moses2434
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