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27 Cards in this Set
- Front
- Back
Customer Insights |
Fresh understandings of customers and the marketplace derived from marketing information that become the basis for creating customer value and relationships |
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Marketing Information System (MIS) |
People and procedures dedicated to assessing information needs, developing the needed information, and helping decision makers to use the information to generate and validate actionable customer and market insights. |
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Internal Databases |
Electronic collections of consumer and market information obtained from data sources within the company's network.
Data ages quickly, info might not directly apply to marketing, but can be assessed quickly |
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Competitive Marketing Intelligence |
Systematic collection and alalysis of publicly available information about consumers, competitors, and developments in the marketplace.
Goal is to improve strategic decision making by understanding the consumer environment, assessing and tracking competitors actions, and providing early warnings of opportunities and threats. |
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Chief Listening Officers |
Sift through online customer conversations and pass along key insights to marketing decision makers |
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Marketing Research |
Systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization. |
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Marketing Research Process (Diagram p129) |
1. Define the problem and research objectives--> 2. Develop the research plan for collecting info--> 3. Implement the research plan-collect and analyze the data--> 4. Interpret and report findings |
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Exploratory Research |
Gather preliminary info that will help define problem and suggest hypotheses |
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Descriptive Research |
Describe things, such as market potential for a product of the demographics and attitudes of consumers who buy the product. |
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Casual Research |
Test hypothesis about cause and effect relationships |
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Written Proposal |
A written research plan for large and complex problems.
1. Management problems 2. Research Objectives 3. Information to be obtained 4. How results will help management's decision making 5. Estimated research cost |
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Secondary Data |
Info that already exists somewhere
Costs less to obtain than primary data but data isn't exactly tailored o them. |
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Primary Data |
Info collected for the specific purpose at hand. |
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Commercial Online Databases/Search Engines |
Research method for secondary data |
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Observational Research |
Gathers primary data by observing relevant people, actions, and situations. |
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Ethnographic Research |
Sending observers to watch and interact with consumers in their natural environments. |
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Netnography Research |
Observing consumers in a natural context n the internet. |
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Survey Research |
Most widely used method for primary data collection and is the best approach for gathering descriptive info.
Flexibility but sometimes people are not able to answer or don't know how to answer, may not care, may try to answer to make asker happy. |
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Experimental Research |
Gathering primary data by selecting matched groups of subjects, giving them different treatments, controlling related factors, and checking for differences in group responses.
Explains cause-effect relationships |
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Contact Methods (See Diagram p133) |
Telephone Personal Online |
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Focus Group Interviewing |
Personal interviewing that involves inviting 6-10 people to gather for a few hours with a trained interviewer to talk about a product, service, or organization. Interviewer "focuses" the group discussion on important issues. |
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Online Marketing Research |
Internet surveys, online panels, experiments, online focus groups, and brand communities |
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Online Focus Group |
Gathering a small group of people online with a trained moderator to chat about a product, service, or organization and gain qualitative insights about consumer attitudes and behavior. |
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Sample |
Segment of the population selected for marketing research to represent the population as a whole. |
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Customer Relationship Management (CRM) |
Managing detailed info about individual customers and carefully managing customer touch points to maximize customer loyalty. |
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Research Instruments |
Questionnaires- most common instrument Mechanical- Scanners record information Neuromarketing- measuring brain activity to learn how consumers feel and respond |
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Online Research |
Quantitative, starting to become more qualitative |