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Details Title: Marketing Chapter 7 Description: Marketing Chapter 7 Total Flash Cards: 14 Created: 02/24/2007 14:26:30	To study from this set of flash cards, or to create your own your own study flash cards, register HERE. If you are already a registered user, CLICK HERE.
Cards Term marketing research Definition Process of collection and use of information for marketing decision making Term focus group Definition Information-gathering procedure in marketing research that typically brings 8 to 12 people together to discuss a given subject Term exploratory research Definition Discussing a marketing problem with informed sources within the firm as well as outside it and examining information from secondary sources. Term sales forecast Definition Estimate of company revenue for a specified future period Term secondary data Definition Previously published data Term jury of executive opinion Definition Sales forecasting method that considers the sales expectations of various executives Term primary data Definition Information collected for the first time. Term Delphi technique Definition Sales forecasting method that gathers and redistributes several rounds of anonymous forecasts until the participants reach a consensus Term sampling Definition Process of selecting survey respondents or other research participants Term sales force composite Definition Sales forecast based on the combined sales estimates of the firm’s salespeople Term probability sample Definition Sample that gives every element of the population a chance of being selected Term trend analysis Definition Sales forecasting method that estimates future sales through statistical analyses of historical sales patterns. Term nonprobability sample Definition Arbitrary grouping that produces data unsuited for most standard statistical tests. Term exponential smoothing Definition Forecasting technique that assigns weights to historical sales data, giving the greatest weight to the most recent data