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Customer Insights

-Fresh and deep insights into customers needs and wants
-Difficult to obtain
-Not obvious
-Customer's unsure of their behavior
-Not derived from more information but better information and more effective use of existing information

Marketing Information System (MIS)

consists of people and procedures for:
-Assessing the information needs
-Developing needed information
-Helping decision makers use the information for customer

MIS Provides

information to the company's marketing and other managers and external partners such as suppliers, resellers, and marketing service agencies

Internal Databases

electronic collections of consumer and market information obtained from data sources within the company network

Marketing Intelligence

systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketplace

Marketing Research

systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization

Secondary Data

consists of information that already exists somewhere, having been collected for another purpose

Primary Data

consists of information gathered for the special research plan

Observational Research

involves gathering primary data by observing relevant people, actions, and situations

Ethnographic research

involves sending trained observers to watch and interact with consumers in their natural environment

Survey research

most widely used method and is best for descriptive information—knowledge, attitudes, preferences, and buying behavior
-Flexible
-People can be unable or unwilling to answer
-Gives misleading or pleasing answers
-Privacy concerns

Experimental research

best for gathering causal information

Sample

segment of the population selected for marketing research to represent the population as a whole

Information Distribution

involves entering information into databases and making it available in a time-useable manner

Control over who respondents are

Which of the following is NOT an advantage of Web-based research?

Sample

Marketing researchers usually draw conclusions about large groups of consumers by studying a small______of the total consumer population.

Information Needs

In the second step of the marketing research process, research objectives should be translated into specific____________.

Provides greater insight than interview

Which of the following is true of ethnographic research?

Exploratory

Observational research is best suited for gathering____________information.

Marketing Department

Four common sources of internal data include the accounting dept., operations, the sales force, and the____________.

Average response rate

ABC Company has decided to use mail questionnaires to collect data. Management recognizes this method has all the following advantages EXCEPT which one?

Exploratory

The objective of___________research is to gather preliminary information that will help define the problem and suggest hypotheses.

Time consuming

What is a major drawback of probability sampling?

Exists collected for different purpose

Secondary data consists of information___________.

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