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29 Cards in this Set
- Front
- Back
Define "Causal Research"
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Marketing research to test hypotheses about cause-and-effect relationships
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Define "Data Warehouses"
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These collect data from a variety of sources, and store in one accessible location
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Define "Descriptive Research"
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Marketing Research to better describe marketing problems, situations, or markets, such as the market potential for a product or the demographics
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Define "Ethnographic Research"
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Trained observers interact with and/or observe consumers in their natural habitat
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Define "Experimental Research"
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The gathering of primary data by selecting matched groups of subjects, giving them different treatments, controlling related factors, and checking for differences in group responses
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Define "Exploratory Research"
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Marketing research to gather preliminary information that will help to better define problems and suggest hypotheses
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Define "Internal Data"
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Internal data consists of electronic databases and non-electronic information and records of consumer and market information obtained from within the company
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Define "Marketing Dashboard"
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These are like the instrument panels in a car or plane, visually displaying real-time indicators to ensure proper functioning
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Define "Marketing Information System" (MIS)
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A structure of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers. The MIS begins and ends with marketing managers, but manager throughout the organization should be involved in the MIS. First, the MIS interacts with managers to assess their information needs. Next, it develops the needed information from internal company records, marketing intelligence activities, and the marketing research process. Information analysts process information to make it more useful. Finally, the MIS distributes information to managers in the right form and at the right time to help in marketing planning, implementation and control.
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Define "Marketing Intelligence"
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Everyday information about developments in the marketing environment that help managers to prepare and adjust marketing plans and short-run tactics (can come from internal or external sources)
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Define "Marketing Research"
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The systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing a company
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Define "Observational Research"
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The gathering of primary data by observing relevant people, actions and situations
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Define "Primary Data"
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Information collected for the specific purpose at hand
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Define "Sample"
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A segment of a population selected for marketing research to represent the population as a whole
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Define "Secondary Data"
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Information that already exists somewhere having been collected for another purpose
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Define "Assessing Information needs"
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A good marketing information system balances information that managers would like to have against that which they really need and is feasible to obtain
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What are internal sources of marketing intelligence?
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Internal sources include the company's executives, owners, and employees
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What are external sources of marketing intelligence?
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External sources include competitors, government agencies, suppliers, trade magazines, newspapers, business magazines, trade association newsletters and meetings, and databases available on the Internet
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What are the ways of developing Marketing Information?
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1) Internal Records
2) Marketing Intelligence 3) Marketing Research |
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What are the steps of the Marketing Research process?
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1) Defining the problem and research objectives
2) Developing the research plan for collecting information 3) Implementing the research plan 4) Interpreting and reporting the findings |
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What are the types of objectives for a marketing research process?
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1) Exploratory
2) Descriptive 3) Causal |
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What is an "Exploratory" research objective?
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To gather preliminary information that will help define the problem and suggest hypotheses. Where the researcher does not know the actual problem and the ways and means of searching the solution for the problem encountered. You have no secondary data or litereature review or guidance for this research design.
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What is a "Descriptive" research objective?
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To describe the size and composition of the market. In this case the researcher exactly knows what has to be studied and where to look for the solution. Secondary data and literature review are available in this case.
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What is a "Causal" research objective?
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To test hypotheses about cause-and-effect relationships. This is undertaken to find out whether any relationship exists between two variables - one being the cause and the other being the result
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What are the factors that need to be determined to develop a research plan for collecting information?
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1) Specific information needs
2) Research approaches 3) Contact methods 4) Research instruments 5) Presenting the research plan |
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What are the types of research approaches?
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1) Observational research
2) Survey research 3) Experimental research |
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Define "Sampling Plan"
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Marketing researchers usually draw conclusions about large consumer groups by taking a sample. A sample is a segment of the population selected to represent the populations as a whole. Designing the sample calls for four decisions: 1) Who will be surveyed? 2) How many people should be surveyed? 3) How should the sample be chosen? 4) When will the survey be given
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What are the types of research instruments?
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1) Interview (Structured or unstructured-structured interviews employ the use of a questionnaire)
2) Mechanical Devices 3) Structured models (such as a test market) |
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What does implementing a research plan man?
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Putting the marketing research plan into action by collecting, processing, and analyzing information
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