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Marketing Principles
Chapters 8 vocab
15
Marketing
Undergraduate 3
11/08/2006

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Term
Marketing research
Definition
The process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions.
Term
decision
Definition
a conscious choice from amoung two or more alternatives
Term
measures of sucess
Definition
criteria or standards used in evaluating proposed solutions to a problem
Term
constaints
Definition
in a decision are the restrictions placed on potential solutions to a problem
Term
sampling
Definition
selecting representative elements from a population
Term
probablility sampling
Definition
involves using precise rules to select the sameple such that each element of the population has a specific known chance of being selected
Term
nonprobability sampling
Definition
using arbitrary judgements to select the sample so that the chance of selecting a particular element may be unknown or 0
Term
statistical inference
Definition
involves drawing conclusions about a population from a sample
Term
data
Definition
facts and figures related to the problem
Term
secondary data
Definition
facts and figures that have already been recorded before the project at hand
Term
primary data
Definition
fact and figures that are newly collected for the project
Term
observational data
Definition
facts and figures obtained by watching, either mechanically of in person
Term
questionnaire data
Definition
facts and figures obtained by asking people about their attitudes, awareness, intentions, adn behaviors
Term
information technology
Definition
involves a computer and communication system to satify an org.'s needs for data storage, processing, and access
Term
data mining
Definition
the extraction of hidden predictive info from large databases
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