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Marketing Definitions
Definitions for Vocabulary-Chapter 8: Basic marketing-A Marketing Strategey Planning Approach, McGraw Hill Publishing Co.
28
Marketing
Undergraduate 3
10/07/2007

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Term
Marketing research
Definition
procedures that develop and analyze new information about a market
Term
marketing information system (MIS)
Definition
an organized way of continually gathering accessing and anaylizing information that marketing manager need to make ongoing decisions
Term
intranet
Definition
a system for linking computers within a company
Term
data warehouse
Definition
a place where databases are stored so that they are available when needed
Term
Decision support system (DSS)
Definition
a computer program that makes it easy for a marketing manager to get and use information as he or she is making decisions; provided by MIS systems
Term
Search Engine
Definition
a computer program that helps a marketing manager find information that is needed
Term
marketing model
Definition
a statement of relationships among marketing variables; the manager can look at the sales expected with different types of promotion and select the maarketing mix that is best for that target market
Term
Scientific method
Definition
a decision-making approach that focuses on being objective and orderly in testing ideas before accepting them
Term
Marketing Research Process
Definition
a five-step application of the scientific method that includes:
1: Defining the Problem
2. Analyzing the situation
3. Getting problem-Specific Data
4. Interpreting the data
5. Solving the problem
Term
Step 1: Defining the Problem
Definition
Part of the five-step approach to marketing research; often the most difficult step; helps the researcher identify the real problem area and what information is needed
Term
Step 2: Situation Analysis
Definition
Part of the five-step approach to marketing research; an informal study of what information is already available in the problem area; can help define the problem and specify what additional information is needed; finds relevant secondary data; it should be informative and take very little time
Term
Secondary Data
Definition
information that has been collected or published already; lots of this is already available from the firm's MIS
Term
Primary Data
Definition
Information specifically collected to solve a current problem
Term
research proposal
Definition
a plan that specifies what information will be obtained and how
Term
Step 3: Getting Problem Specific Data
Definition
Part of the five-step approach to marketing research; two basic methods for obtaining information about customers: questioning and observing
Term
focus group interview
Definition
involves interviewing 6 to 10 people in an informal group setting; conclusions reached from a session usually vary depending on who watches it
Term
Qualitative research
Definition
seeks in-depth, open-ended responses not yes or no answers; researcher tries to get people to share their thoughts on a topic-without giving them many directions or guidelines on what to say
Term
Quantitative Research
Definition
seeks structured responses that can be summarized in numbers, like percentages, averages or other statistics; cana be larger and more represntative and various statistics can draw conclusions
Term
Response Rate
Definition
the precentage of people contacted who complete the questionnaire; is often low and respndents may not be representative
Term
Consumer Panels
Definition
a group of consumers who provide information on a continuing basis
Term
Step 4: Interpreting the Data
Definition
after someone collects the data it has to be analyzed to decid what it all means; usually involves statistics in quantitative data
Term
Statistical packages
Definition
easy-to-use computer programs that analyze data; have made Step 3, interpreting the data, of the five-step approach to marketing research easier
Term
population
Definition
the total group a marketing manager is interested in
Term
sample
Definition
a part of the relevant population; how well this represents the total population affects the results
Term
confidence intervals
Definition
the range on either side of an estimate that is likely to contain the true value for the whole population; the larger the sample size the greater the accuracy of estimates froma random sample; with a larger sample a few unusual responses are less likely to make a big difference
Term
Validity
Definition
the extent to which data measures what it is intended to measure
Term
Step 5: Solving the problem
Definition
managers use the research results to make marketing decisions; it is the reason for and logicial conclusion to thw whole reserach process
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