M303 ch. 1-3

  1. marketing research
    the application of the scientific method in researching for the truth about marketing phenomena. These activities include defining marketing opportunities and problems, generating and evaluating marketing ideas, monitoring performance, and understanding the marketing process
  2. applied marketing research
    research conducted to address a specific marketing decision for a specific firm of organization
  3. basic marketing research
    research conducted without a specific decision in mind that usually does not address the needs of a specific organization. It attempts to expand the limits of marketing knowledge in general and is not aimed at solving a particular pragmatic problem
  4. the scientific method
    the way researchers go about using knowledge and evidence to reach objective conclusions about the real world

    prior knowledge + observation --> hypothesis --> hypothesis test (observation or experimentation) --> conclusion (new knowledge)
  5. product-oriented
    describes a firm that prioritizes decision making in a way that emphasizes technical superiority in the product
  6. production-oriented
    describes a firm that prioritizes efficiency and effectiveness of the production processes in making decisions
  7. marketing concept
    a central idea in modern marketing thinking that focuses on how the firm provides value to customers more than on the physical product or production process
  8. marketing orientation
    the corporate culture existing for firms adopting the marketing concept. It emphasizes customer orientation, long-term profitability over short-term profits, and cross-functional perspective (marketing is integrated across other business functions like finance production and distribution, they all aren't isolated)
  9. customer-oriented
    describes a firm in which all decisions are made with a conscious awareness of their effect on the consumer
  10. relationship marketing
    communicates the idea that a major goal of marketing is to build long-term relationships with the customers contributing to the firm's success
  11. total quality management
    a business philosophy that has much in common with the marketing concept; embodies the belief that the management process must focus on integrating customer-driven quality throughout the organization
  12. geo-demographics
    refers to information describing the demographic profile of consumers in a particular geographic region
  13. pricing
    involves finding the amount of monetary sacrifice that best represents the value customers perceive in a product after considering various market constraints
  14. marketing channel
    a network of interdependent institutions that perform the logistics necessary for consumption to occur
  15. supply chain
    another term for a channel of distribution, meaning the link between suppliers and customers
  16. promotion
    the communication function of the firm responsible for informing and persuading buyers
  17. promotion research
    investigates the effectiveness of advertising, premiums, coupons, sampling, discounts, public relations, and other sales promotions

    *(most of the time, money, and effort on advertising research)
  18. integrated marketing communication
    all promotion efforts (advertising, public relations, personal selling, event marketing, and so forth) should be coordinated 
  19. integrated marketing mix
    the effects of various combinations of marketing-mix elements on important outcomes
  20. total value management
    the managements and monitoring the entire process by which consumers receive benefits from a company
  21. performance-monitoring research
    refers to research that regularly, sometimes routinely, provides feedback for evaluation and control of marketing activity
  22. marketing metrics
    quantitative ways of monitoring and measuring marketing performance
  23. culturally cross-validate
    to verify that the empirical findings from one culture also exist and behave similarly in another culture
  24. data
    facts or recorded measures of certain phenomena (things or events)
  25. information
    data formatted (structured) to support decision making or define the relationship between two facts
  26. market intelligence
    the subset of data and information that actually has some explanatory power enabling effective decisions to be made
  27. relevance
    the characteristics of data reflecting how pertinent these particular facts are to the situation at hand
  28. information completeness
    having the right amount of information
  29. global information system
    an organized collection of computer hardware, software, data, and personnel designed to capture, store, update, manipulate, analyze, and immediately display information about worldwide business activity
  30. decision support system (DSS)
    a computer-based system that helps decision makers confront problems through direct interaction with databases and analytical software programs

    input --> decision support software (database + software) --> output
  31. customer relationship management (CRM)
    part of the DSS that addresses exchanges between the firm and its customers
  32. database
    a collection of raw data arranged logically and organized in a form that be stored and processed by a computer
  33. data warehousing
    the process allowing important day-to-day operational data to be stored and processed by a computer
  34. data warehouse
    the multitiered computer storehouse of current and historical data
  35. six major sources of marketing input for decision support systems
    internal records, proprietary marketing research, salesperson input, behavioral tracking, web tracking, and outside vendors and external distributors
  36. proprietary marketing research
    the gathering of new data to investigate specific problems
  37. scanner records
    the accumulated records resulting from point of sale data recordings
  38. data wholesalers
    companies that put together consortia of data sources into packages that are offered to municipal, corporate, and university libraries for a fee
  39. electronic data interchange (EDI)
    type of exchange that occurs when one company's computer system is integrated with another company's system
  40. predictive analytics
    a system linking computerized data sources to statistical tools allowing more accurate forecasts of consumers' opinions and actions
  41. content providers
    parties that furnish information on the World Wide Web
  42. Uniform Resource Locator (URL)
    a web site address that web browsers recognize
  43. search engine
    a computerized directory that allows anyone to search the World Wide Web for information using a keyword search
  44. keyword search
    takes place as the search engine searches through millions of Web pages for documents containing the keywords
  45. environmental scanning
    entails all information gathering designed to detect changed in the external environment of the firm
  46. pull technology
    consumers request information from a Web page and the browser then determines a response; the consumer is essentially asking for the data
  47. push technology
    send data to a user's computer without a request being made; software is used to guess what information might be interesting to consumers based on the pattern of previous responses
  48. smart agent software
    software capable of learning an Internet user's preferences and automatically searching out information in selected Web sites and then distributing it
  49. cookies
    small data files that a content provider can save onto the computer of someone who visits its Web site
  50. intranet
    a company's private data network that uses Internet standards and technology
  51. exploratory research
    conducted to clarify ambiguous situations or discover ideas that may be potential business opportunities
  52. symptoms
    observable cues that serve as a signal of a problem because they are caused by that problem
  53. descriptive research
    describes characteristics of objects, people, groups, organizations, or environments; tries to "paint a picture" of a given situation
  54. diagnostic analysis
    seeks to diagnose reasons for market outcomes and focuses specifically on the beliefs and feelings consumers have about and toward competing products
  55. causal research
    allows causal inferences to be made; seeks to identify cause-and-effect relationships
  56. causal inference
    a conclusion that when one thing happens, another specific thing will follow
  57. temporal sequence
    one of three criteria for causality; deals with the time order of events-cause must occur before the effect
  58. concomitant variation
    one of three criteria for causality; occurs when two events "covary", meaning they vary systematically
  59. nonspurious association
    one of three criteria for causality; means any covariation between a cause and an effect is true and not simply due to some other variable
  60. experiment
    a carefully controlled study in which the researcher manipulates a proposed cause and observes any corresponding change in the proposed effect
  61. experimental variable
    represents the proposed cause which the researcher controls by manipulating its value
  62. manipulation
    means that the researcher alters the level of the variable in specific increments
  63. research objectives
    the goals to be achieved by conducting research
  64. deliverables
    the term used often in consulting to describe research objectives to a research client
  65. literature review
    a directed search of published works, including periodicals and books, that discusses theory and presents empirical results that are relevant to the topic at hand
  66. pilot study
    a small-scale research project that collects data from respondents similar to those to be used in the full study
  67. pretest
    a small-scale study in which the results are only preliminary and intended only to assist in design of a subsequent study
  68. focus group
    a small group discussion about some research topic led by a moderator who guides discussion among the participants
  69. theory
    a formal, logical explanation of some events that includes predictions of how things relate to one another
  70. hypothesis
    a formal statement explaining some outcome
  71. empirical testing
    means that something has been examined against reality using data
  72. research design
    a master plan that specifies the methods and procedures for collecting and analyzing the needed information
  73. survey
    a research technique in which a sample is interviewed in some form or the behavior of respondents is observed and described in some way
  74. sampling
    involves any procedure that draws conclusions based on measurements of a portion of the population
  75. unobtrusive methods
    methods in which research respondents do not have to be disturbed for data to be gathered; they may even be unaware that research is going on at all
  76. data analysis
    the application of reasoning to understand the data that have been gathered
  77. research project
    a single study that addresses one or a small number of research objectives
  78. research program
    numerous related studies that come together to address multiple, related research objectives
Card Set
M303 ch. 1-3
M303 ch. 1-3