procedures that develop and analyze new information about a market. May involve the use of questionnaires, interviews with customers, experiments, and many other approaches.
Marketing Information System (MIS)
organized way of continually gathering, accessing, and analyzing information that marketing managers need to make ongoing decisions.
A MIS system organizes incoming information here. It is a place where databases are stored so that they are available when needed.
Decision support System (DSS)
a computer program that makes it easy for a marketing manager to get and use information as he or she is making decisions.
Manager could use an MIS to conduct this. It is a detailed breakdown of a company's sales records.
decision-making approach that focuses on being objective and orderly in testing ideas before accepting them.
educated guesses about the relationships between things or about what will happen in the future.
Marketing Research Process
1. Defining the problem. 2. Analyzing the situation. 3. Getting problem-specific data. 4. Interpreting the data. 5. Solving the problem.
an informal study of what information is already available in the problem area. It can help define that problem and specify what additional information , if any, is needed.
a plan that specifies what information will be obtained and how- to be sure no misunderstandings occur later. May include information about costs, what data will be collected, how it will be collected, who will analyze it and how long the process will take.
seeks in-depth, open-ended responses, not yes or no answers. Research tries to get people to share their thoughts on a topic-without giving them many directions or guidlines about what to say.
Focus Group Interview
most widely used form of qualitative questioning in marketing research. It involves interviewing 6 to 10 people in an informal group setting. Stimulates thinking to get immidiate responses.
Most survey research. Seeks structured responses that can be summarized in numbers, like percentages, averages, or other statistics.
percentage of people contacted who complete the questionnaire-is often low and respondents may not be representative.
researchers compare the responses of two (or more) groups that are similar except on the characteristic being tested.
easy-to-use computer programs that analyze data-have made the step of analyzing data easier.