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Marketing Research?
Procedures that develop and analyze new information about a market.
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Marketing Information System?
An organised way of continually gathering, accesing, and analyzing information that marketing managers need to make ongoing decisions.
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Intranet?
A system for linking computers within a company.
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Data Warehouse?
A place where databases are stored so that they are available when they are needed.
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Decision Support System?
A computer program that makes it easy for a marketing manager to get and use information as he or she is making decisions.
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Search Engine?
A computer program that helps a marketing manager find information that is needed.
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Marketing Model?
A statement of relationships among marketing variables. A manager can look at the sales of different types of promotion and select the marketing mix that is best for the target market.
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Sales Analysis?
A detailed breakdown of a company's sales records.
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Scientific Method?
A decision-making approach that focuses on being objective and orderly in testing ideas before accepting them.
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Hypotheses?
Educated guesses about the relationship between things or about what will happenin the future.
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Marketing Research Process?
- A five-step application of scientific method.
- 1. Defining the problem.
- 2. Analyzing the situation.
- 3. Getting problem-specific data.
- 4. Interpretting the data.
- 5. Solving the problem.
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Situation Analysis?
An informal study of what information is already available in the problem area.
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Secondary Data?
Information that has been collected or published already.
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Primary Data?
Information specifically collected to solve a current problem.
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Research Proposal?
A plan that specifies what information will be obtained and how to be sure no misunderstandings occur later.
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Quantitive Research?
Seeks in-depth, open-ended responses, not yes or no answers.
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Focus Group Interveiw?
Involves interveiwing six to ten people in an informal group setting. Goal is to stimulate thinking and get immediate reactions.
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Quantitative Research?
Seeks structured responses that can be summarized in numbers, like percentages, averages, or other statistics.
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Response Rate?
The percentage of people contacted who complete the questionaire. Often low, and not a great representation.
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Consumer Panels?
A group of consumers who provide information on a continuing basis.
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Experimental Method?
Researchers compare the responses of two (or more) groups that are similar except the characteristic being tested.
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Strategic Packages?
Easy-to-use computer programs that analyze data.
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Population?
The total group of people being conidered of interest.
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Sample?
A part of the relevant population.
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