# Shared Flashcard Set

## Details

Quiz 1
16
09/07/2010

Term
 Applied Research
Definition
 Knowledge to solve a problem, directed activity, comes up with numbers and decides this is what is to be done. Used by reseach consultants, corporate research departmnets, and gives a course of action.
Term
 Basic Research
Definition
 Knowledge to gain knowledge, used by research academics, and includes a university professor.
Term
 Managerial Imperative
Definition
 gives us an idea of what we want to do next, now that we know what we know we need to do that.
Term
 Equipment needed to do research
Definition
 1. cost related, 2. cost indicative, 3. cost effective (they are all related to money, what consumers are buying and or watching)
Term
 data
Definition
 a plural word for number , meaning numbers ( word substitutes include: information, or data set)
Term
 datum
Definition
 singular word for number
Term
 Brand image
Definition
 more valuable over time
Term
 Bayesian analysis
Definition
 "Bayesian" refers to the 18th century statistician Thomas Bayes (1702–1761), who provided an early, mathematically incomplete treatment of a problem in Bayesian inference. all the functions of the parameters are distributed. In other words, a posterior distribution is obtained for functions such as reliability and failure rate, instead of point estimate as in classical statistics. Therefore, in order to obtain a point estimate for these functions, a point on the posterior distributions needs to be calculated. Again, the expected value (mean) or median value are used.
Term
 Market Share
Definition
 Total product sales in units of dollars
Term
 Growth Stage
Definition
 when things take off in growth or come down and start declining
Term
 Product Life cycle
Definition
 Pre-commercialization, introduction, growth stage, maturity and then the decline.
Term
 Pricing Research
Definition
 High innitial price is called Skinning, and low innitial price is called penetration
Term
 Skinning
Definition
 high innitial price
Term
 penetration
Definition
 low initial price
Term
 Precise or precision
Definition
 dealing with closenessor numbers of significant digits
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