the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions.

criteria or standards used in evaluating proposed solutions to the problem.

are, in a decision, the restrictions placed on potential solutions to a problem.

the facts and figures related to the project that are divided into two main parts: secondary data and primary data.

the facts and figures that have already been recorded prior to the project at hand.

the facts and figures that are newly collected for the project.

are the facts and figures obtained by watching how people actually behave, using mechanical, personal, or neuromarketing data collection methods.

the facts and figures obtained by asking people about their attitudes, awareness, intentions, and behaviors.

Information technology

includes all of the computing resources that collect, store, and analyze data.

the practice of examining large databases to find statistical relationships between consumer purchasing patterns and marketing actions.

based on statistical models that use data mining and probability analysis to foretell outcomes.

consists of the total sales of a product that a firm expects to sell during a specified time period under specified environmental conditions and its own marketing efforts.

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Marketing Chaper 8

Vocab

Term	Definition
Marketing research	the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions.
Measures of success	criteria or standards used in evaluating proposed solutions to the problem.
Constraints	are, in a decision, the restrictions placed on potential solutions to a problem.
Data	the facts and figures related to the project that are divided into two main parts: secondary data and primary data.
Secondary data	the facts and figures that have already been recorded prior to the project at hand.
Primary data	the facts and figures that are newly collected for the project.
Observational data	are the facts and figures obtained by watching how people actually behave, using mechanical, personal, or neuromarketing data collection methods.
Questionnaire data	the facts and figures obtained by asking people about their attitudes, awareness, intentions, and behaviors.
Information technology	includes all of the computing resources that collect, store, and analyze data.
Data mining	the practice of examining large databases to find statistical relationships between consumer purchasing patterns and marketing actions.
Predictive modeling	based on statistical models that use data mining and probability analysis to foretell outcomes.
sales forecast	consists of the total sales of a product that a firm expects to sell during a specified time period under specified environmental conditions and its own marketing efforts.

Created by: Rick Dawson

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