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Definition
| process of planning, collecting and analyzing data in order to make a marketing decision |
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| descriptive marketing research |
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| diagnostic marketing research |
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| try to understand and explain data |
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| predictive marketing research |
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| try to make predictions based on data available |
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| type of marketing research |
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| causal marketing research |
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find link between the changes
if change x, does it change y? |
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| exploratory marketing researh |
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| steps in marketing project |
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Definition
determine and define problem
select appropraite research design
execute research design
communicate research results |
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Definition
articles,magazines,census
helps in planning primary data collections |
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| something you are collecting yourself |
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| advantages of secondary data |
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Definition
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| disadvantages in secondary data |
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Definition
| outdated, focus and relevance different, dont know if accurate |
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| advantages in primary data |
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Definition
| current, relevent, competitive adv, secrecy |
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| disadvantages in primary data |
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| characterisitics of questionnaires |
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Definition
can be open ended: can say any answer
can be close ended: have to choice from certain options
can have scaled responses: 1-10 |
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Definition
avoid leading questions
clear and concise
no ambiguous language
avoid multiple questos in one questions |
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Definition
| perople or machines observe other people or activities |
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| everyone has a known probability of being selected |
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| everyone has an equal probability |
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| pick people out of convienience |
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| dont try to find the probability of how many |
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| try to make sure certain groups are included |
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| what you try to capture is not properly set up, question are accurately asking what need to find out |
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| sampling that is bias to some type not properly random |
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Definition
| not properly random, samples may be unusual |
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| coding of categories and themes |
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| forecasting using old data |
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Definition
target a group
reach more people
find out more info |
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| products that are used in business to create other products |
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| finishing roduct, targeted and sold as the end products |
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| types of consumer products |
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Definition
convenience products
shopping products
specialty products
unsought products |
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individual offering
coke zero |
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group of similar product items
corola and camery |
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Definition
| different product lines in one brand |
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adding onto product to make better
honda added hybrid |
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Definition
| changing target market group |
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| product line extension or contraction |
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Definition
adding or taking away a product line
no longer sell hummers |
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Definition
trying to expend, but end up expanding too much
cannibalization
resource allocation
items obsolete? |
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Definition
anything that can be spoken
identification
helps increase sales
helps reduce risk of unsure quality |
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Definition
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Definition
owned by the retailer
Publix brand |
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different name for different roduct lines
dove + axe = same company |
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same name for everything selling
Sony = all products say sony |
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| 2 or more brands come together to make a product |
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ingredient
complementary
co operative |
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| good looking packages often sway people to buy a product |
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| give the impression that something is envirnmentally friendly |
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| form of esurence that a product is at a certain quality level |
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| process of which an adotion of an innovation spreads |
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Term
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Definition
innovators 2.5 %
early adaopters 13.5%
ealy majority 34%
late majority 34&
laggards 16% |
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| price in customer viewpoint |
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Definition
sacrifice effect
information effect
value based upen percieved satisfaction |
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| pricing objectives and stratagies |
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Definition
profit oriented
sales oriented
staua quo |
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Definition
profit maximization
satifactory profits
target return on investment |
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Definition
market share ( company sales/total market)
sale maximization |
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| % change in demand/ % change in price |
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| different prices for different people and times |
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| cost as determinant of price |
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markup pricing
profit max
break even pricing |
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| other determinants of price |
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Definition
stages of PLC
competition
percieved quality |
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Definition
start at high price to target top market buyers
inelastic |
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try for whole market, lower prices
elastic |
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| set price same as the rest of market |
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| unfair trade practices act |
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cannot seel product below cost
illegal |
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Definition
2 or more firms come together and set a price
illegal |
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| charginf a very low price with intent of driving competitors out of business |
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single price tactic
flexible pricing
leader pricing
bit pricing
odd even pricing
price bundling
2 part pricing |
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| intenal mindset of what the prices are |
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| 7 to 10 people who particpate in a group discussion led by a moderator |
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| method of gathering primary data in which the reseacher alters one or more variables while observing the effects of those alterations on another vaiable |
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| subset from a larger population |
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| system for gathering info fom a single group of respendents by continuously monitoring the advertising, promotion, and pricing the are exposed to and the things they buy |
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| the practice of midifying products so those that hve already been sold becme obsolete before they actually need replacement |
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when two products come together in one
tide with febreze scent |
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| when two products recceieving equal treatment borrow from each others brand equity |
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| complementary co-branding |
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Definition
| when two products compliment each other |
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Definition
promotional theme or logo
helps consumers make a better decision |
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Definition
| eliminates ideas that are inconsisent with the organizations new product strategy or are obviously inappropraite for some other reason |
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Term
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Definition
| test to evaluate a new product idea, usually before any prototype has been created |
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