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MM Unit 4
Marketing Information Research
| Question | Answer |
|---|---|
| Questions that offer two or more choices as answers | Closed-ended questions |
| Resources used to maintain information, including equipment and procedures, so that it can be used when needed | Data storage |
| The process of summarizing, combining or comparing information so that decisions can be made | Data analysis |
| Non essential purchases that satisfy consumers wants | Discretionary purchases |
| Controlled situations in which all factors are the same except the one being studied | Experiments |
| Provides an understanding of factors outside the organization | External information |
| Small number of people brought together to discuss identified elements of an issue or problem | Focus group |
| Information that goes into the system that is needed for decision making | Input |
| Information developed from activities that occur within the organization | Internal information |
| An organized method of collecting, storing, analyzing and retrieving information to improve the effectiveness and efficiency of marketing decisions | Marketing information systems (MKIS) |
| A procedure to identify solutions to a specific marketing problem through the use of scientific problem solving | Marketing research |
| The process of dividing a large group of consumers into subgroups based on specific characteristics and common needs | Market segmentation |
| A way to collect information by recording actions without interacting or communicating with the participant | Observation |
| Questions that allow respondents to develop their own answers without information about possible choices | Open-ended questions |
| The result of analysis that is given to decision makers | Output |
| All of the people in the group that a company is interested in studying | Population |
| Information collected for the first time to solve the problem being studied | Primary data |
| A procedure in which everyone in the population has an equal chance of being selected in a sample | Random sampling |
| A small group selected from the population | Sample |
| Information already collected for another purpose that can be used to solve the current problem | Secondary data |
| Experiments where researchers create the situation to be studied | Simulations |
| A planned set of questions to which individuals or groups of people respond | Survey |
| A clearly defined segment of the market to which a business wants to appeal | Target market |
| Specific cities or geographic areas in which marketing experiments are conducted | Test markets |
Created by:
kweenbee30
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