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Marketing Exam 2

Chapter 8

TermDefinition
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 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 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.
Three types of marketing research Exploratory research. Descriptive research. research
Advantages of Secondary Data Time savings. Inexpensive
Disadvantages of Secondary Data Out of date. Definitions/categories not right. Not specific enough
Neuromarketing methods Technologies used to study the brain
Ethnographic research qualitative method where researchers observe consumers in their natural environments
Created by: user-2068582
 

 



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