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MM Unit 4

Marketing Information Research

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