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marketing chapter 8
| Question | Answer |
|---|---|
| Marketing research | is the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions. |
| Measure of success | are criteria or standers used in evaluation proposed solutions to the problem. THE MEASURE OF SICESS OF PLAY TIME WAS HOW LONG THEY PLAYED WITH LEGOS. |
| Constraints | are, in a decision, the restrictions places on potential solutions to a problem. |
| data | are the FACTS AND FIGURES related to the project that are divided into two main parts: secondary and primary data |
| primary data | are the facts and figures that are newly collected for the project. |
| secondary data | are the facts and figures that have already been recorded to the project at hand |
| observational data | are the facts and figures obtained by WATCHING how people actually bah, using mechanical, personal, or neuromarekitng data collection methods. |
| ethnographic research | is watching a person use a product in their how use environment |
| questionnaire data | are the facts and figures obtained by ASKING PEOPLE about their attitudes, awareness, intentions, and behaviors. |
| test market | is where you test your product out in a small market before going into a bigger market. |
| information technology | includes all the computing resources that collect, store, and analyze data. |
| data mining | is the practice of examining large databases to find statistical relationships between consumer purchasing patterns and marketing actions |
| predictive modeling | is based on statistical models that use data mining and probibilty analysis to foretell outcomes. |
| advantages of primary data | more flexible and specific to the problem under study |
| sales forecast | consist of the total sales of a product that a firm excects to sell durning a specified time period under specifies environment conditions and its own marketing efforts. |