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2012-07-08 13:10:44
Chapter Eight

Marketing Research and Sales Forecasting
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  1. Marketing Research
    Process of collecting and using information for marketing decision making
  2. Syndicated service
    Organization that provides standardized data on a periodic basis to its subscribers
  3. Full-service research supplier
    Marketing research organization that offers all aspects of the marketing research process
  4. Limited-service research supplier
    Marketing research firm that specializes in a limited number of research activities such as conducting field interviews or performing data processing
  5. The Marketing Research Process (Six steps)
    • 1. Defining the problem
    • 2. Conducting exploratory research
    • 3. Formulating a hypothesis
    • 4. Creating a research design
    • 5. Collecting data 
    •    a. primary data
    •    b. secondary data
    • 6. Interpreting and presenting the research information
  6. Exploratory research
    Process of discussing a marketing problem with informed sources both within and outside the firm and examining information from secondary sources
  7. Sales analysis
    In-depth evaluation of a firm's sales
  8. Hypothesis
    Tentative explanation for a specific event
  9. Research design
    Master plan for conducting market research
  10. Secondary data
    Previously published information
  11. Primary data
    Information collected for a specific investigation
  12. Two types of secondary data
    • 1. Internal: sales records,product performance reviews,sales force activity reports
    • 2. External: government records, syndicated research services, industry publications
  13. Sampling
    Process of selecting survey respondents or research participants
  14. Population (Universe)
    Total group that researchers want to study
  15. Probabilty sample
    Sample that gives every member of the population a chance of being selected
  16. Simple random sample
    Basic type of probibilty sample in which every individual in the relevant universe has a equal opportunity of being selected
  17. Stratified Sample
    Probability sample constructed to represent randomly selected subsamples of different groups within the total sample; each subgroup is relatively homogeneous for a certain characteristic
  18. Cluster sample
    Probability sample in which researchers select a sample of subgroups (or clusters) from which they draw respondents; each cluster reflects the diversity of the whole population sampled
  19. Nonprobabitly sample
    Sample that involves personal judgment somewhere in the selection process
  20. Convenience Sample
    Nonprobability sample selected from among readily available respondents
  21. Quota Sample
    Nonprobability sample divided to maintain the proportion of certain characteristics among different segments or groups seen in the population as a whole
  22. Types of primary research: (Principle methods for collecting data)
    • 1. Observation: traffic counts,taping shopping habits
    • 2. Surveys: focus group interviews,telephone surveys, online surveys
    • 3. Controlled Experiments: test market