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 person

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: primary, secondary

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

facts/figures obtained by watching how people actually behave, using mechanical, personal, or neuromarketing data collection methods

facts/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

practice of examine large databases to find statistical relationships between consumer purchasing patterns/marketing actions

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

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

involves aggregating prospective buyers into groups, or segments, that 1) have common needs 2) will respond similar to a marketing action

product differentiation

marketing strategy that involves a firm using different marketing mix actions to help consumers perceive the product as being different better that competing products

framework to relate the market segments of potential buyers to products offered or potential marketing actions

financial worth of a customer to a company over the course of their relationships

place a product occupies in consumers' minds based on important attributes relative to completive products

product repositioning

involves changing the place a product occupies in a consumer mind relative to completive products

means of displaying two dimensions the location of products/brands see how they perceive compelling products/brands as well as firms own

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ch 8-9

Term	Definition
marketing research	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 person
constraints	are in a decision, the restrictions placed on potential solutions to a problem
date	the facts and figures related to the project that are divided into two main parts: primary, secondary
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	facts/figures obtained by watching how people actually behave, using mechanical, personal, or neuromarketing data collection methods
questionnaire data	facts/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	practice of examine large databases to find statistical relationships between consumer purchasing patterns/marketing actions
predictive modeling	based on statistical models that use data mining and probability analysis to foretell outcomes
sales forecast	total sales of a product that a firm expects to sell during a specified time period under specified environmental conditions and its own marketing errors
CH. 9
market segmentation	involves aggregating prospective buyers into groups, or segments, that 1) have common needs 2) will respond similar to a marketing action
product differentiation	marketing strategy that involves a firm using different marketing mix actions to help consumers perceive the product as being different better that competing products
market product grid	framework to relate the market segments of potential buyers to products offered or potential marketing actions
CLV	financial worth of a customer to a company over the course of their relationships
product positioning	place a product occupies in consumers' minds based on important attributes relative to completive products
product repositioning	involves changing the place a product occupies in a consumer mind relative to completive products
perceptual map	means of displaying two dimensions the location of products/brands see how they perceive compelling products/brands as well as firms own

Created by: user-2064626

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