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Marketing research s
is the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending action
is a conscious choice from among two or more alternatives.
, the act of consciously choosing from among alternatives
measures of success
Criteria or standards used in evaluating proposed solutions to a problem
Five step marketing research approach
- 1. Define the problem
- 2. Develop the research plan
- 3. COllect relevant information
- 4. Develop findings
- 5. Take marketing actions
the art and science of amassing and combing through vast amounts of information for insights not possible on a smaller scale
The facts and figures related to a project
- Facts and figures that have already been recorded prior to the project at hand.
- the tremendous time savings because the data have already been collected and published or exist internally and (2) the low cost, such as free or inexpensive Census reports. Furthermore, a greater level of detail is often available through secondary data
- 1. the secondary data may be out of date
- 2. the definitions or categories might not be quite right for a researcher’s project
- Facts and figures that are newly collected for a project.
- being more flexible and more specific to the problem being studied
- are that primary data are usually far more costly and time-consuming to collect than secondary data.
Marketing input data
relate to the effort expended to make sales
Marketing outcome data
relate to the results of the marketing efforts
syndicated panel data
market research companies pay households and businesses to record all their purchases using a paper or electronic diary
Facts and figures obtained by watching, either mechanically or in person, how people behave
is a specialized observational approach in which trained observers search for subtle behavioral and emotional reactions as consumers encounter products in their “natural use environment,”
Facts and figures obtained by asking people about their attitudes, awareness, intentions, and behaviors.
- which involves a single researcher asking questions of one respondent
- probe for more information with additional questions
in which researchers ask lengthy, free-flowing kinds of questions to probe for underlying ideas and feelings
are informal sessions of 6 to 10 past, present, or prospective customers in which a discussion leader, or moderator, asks for opinions about the firm’s products and those of its competitors
semantic differential scale
questions that have a scale to them (1-5)
questions that have you agree or disagree to a certain point
a sample of consumers or stores from which researchers take a series of measurements
, which offer a product for sale in a small geographic area to help evaluate potential marketing action
Involves operating computer networks that can store and process data.
asking what if questions to a database
product or brand drivers
—the factors that influence the buying decisions of a household or organization—can affect sales.
is the extraction of hidden predictive information from large databases to find statistical links between consumer purchasing patterns and marketing actions
sales forecast .
The total sales of a product that a firm expects to sell during a specified time period under specified conditions and its own marketing efforts. Three types:: (1) judgments of the decision maker, (2) statistical methods, and (3) surveys of knowledgeable groups
involves starting with the last known value of the item being forecast, listing the factors that could affect the forecast, assessing whether they have a positive or negative impact, and making the final forecast
, which involves extending a pattern observed in past data into the future.
survey of buyers’ intentions forecast
involves asking prospective customers if they are likely to buy the product during some future time period
salesforce survey forecast
involves asking the firm’s salespeople to estimate sales during a forthcoming period