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Marketing Chapter 7
Marketing Chapter 7
14
Marketing
Undergraduate 1
02/24/2007

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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
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