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Marketing Ch 4

STUDY
PLAY
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___________.