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week 12
marketing research
24
Marketing
Undergraduate 1
11/08/2015

Additional Marketing Flashcards

 


 

Cards

Term
what is the marketing information system (MIS)?
Definition
the people, equipment and procedures used to gather, sort, analyze, evaluate, and distribute timely and accurate information to marketing decision makers
Term
"A good MIS system balances the information that managers ____ _____ to have against what they really _____ and what is _____ to accomplish"
Definition
"A good MIS system balances the information that managers would like to have against what they really need and what is feasible to accomplish"
Term
what information is needed in marketing environment
Definition
info about political, legal, social, cultural, economic, natural, and demographic environments
Term
what information is needed competition
Definition
info on direct and indirect competitors
Term
what information is needed strategic planning
Definition
info concerning what the marketing objectives and strategies
Term
customer needs
Definition
info about product development and product stocking
Term
how does information flow through the MIS?
Definition
1. information development
2. information analysis
3. distritubion of information
Term
how does information develop?
Definition
1. internal records
2. marketing intelligence
3. distributing information
Term
intrenal records
Definition
info gathered from sources within the company to evaluate marketing performance and to detect marketing problems and opportunities. they can usually be obtained more quickly and cheaply than other information sources
Term
marketing intelligence
Definition
the systematic collection and analysis of publicly available information about competitors and developments in the marketing environment.
Information relating to competitors, technological developments and customers; the macro environment and microenvironment.. suppliers, customers, and resellers
Term
marketing research
Definition
the function that links the consumer, customer, and public to the marketer through information used to:
identify and define marketing opportunities and problems
generate, refine, and evaluate marketing actions
monitor marketing performance
improve understanding of the marketing process

ex- advertising and media research, competitor and market share analysis
Term
what is marketing research?
Definition
marketing research gathers information about the target market, which consists of the customer, the public, and the consumer, concerning the markets opportunities and problems. this information is gathered via identification, definition, and action and delivered to the marketer
Term
benefits of market research
Definition
improve the quality of decision making
guide communications with current and potential customers
identify potential opportunities in the market place
minimize business risks by uncovering prospective problem
create benchmarks and track progress
evaluate overall success
Term
what is the marketing research process?
Definition
1. defining the problem
2. developing the research plan
3. implementing the research plan
4. interperting and reporting the findings
Term
what are the two types of research for a study?
Definition
1. exploratory research: why? how? when?
2. conclusive research: casual research and descriptive research
Term
exploratory research
Definition
marketing research to gather preliminary information that will help to define problems better and suggest hypotheses
Term
descriptive research
Definition
marketing research to describe marketing problems, situations, or markets better-- such as the market potential for a product or the demographics and attitudes of consumers
Term
casual research
Definition
marketing research to test hypotheses about cause and effect relationships
Term
qualitative research = ?
Definition
qualitative research = exploratory research
gives a discussion/statement of information about the motivations, perceptions, and thoughts of a group
Term
quantitative research = ?
Definition
quantitative research = descriptive and casual research
gives numerical/statistical information about how many people in a population share a set of characteristics
Term
secondary data
Definition
consists of information that already exists
Term
primary data
Definition
consists of information collected for the current research purpose. researchers must take care to obtain relevant, accurate, current, and unbiased primary data
Term
qualitative research has ______ while quantitative research has ______
Definition
qualitative research has depth while quantitative research has breadth
Term
what are the two research methods?
Definition
1. observational
2. survey
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