Term
|
Definition
Marketing Mix- is a combination of product, price, promotion, and place(the 4P’s)
designed for a target market. |
|
|
Term
|
Definition
Marketing Strategy- is a plan that enables an organization to make the best use of its
resources to meet marketing objectives. |
|
|
Term
|
Definition
Marketing Plan- is a formal document that specifies the organization’s resources,
objectives, strategy, and implementation and control efforts in marketing a specific
product. |
|
|
Term
|
Definition
Marketing Concept- is an organizational philosophy that emphasizes determining
customers’ needs first and then coordinating all activities to satisfy those needs. |
|
|
Term
|
Definition
Marketing Research- the set of techniques and principles for systematically
collecting, recording, analyzing, and interpreting data to aid marketing decision makers.
Basic Marketing Principles
-Attend to the timeliness and relevance of research
-Define research objectives carefully and clearly
-Do not conduct research to support decisions already made. |
|
|
Term
|
Definition
| Information- is data that have been analyzed and interpreted to aid in decision making. |
|
|
Term
|
Definition
| Basic Research- is conducted to generate knowledge. |
|
|
Term
|
Definition
| Applied Research- is conducted to solve a problem. |
|
|
Term
| In-house Marketing research |
|
Definition
| In-house Marketing research- firms conduct research themselves. |
|
|
Term
| External Marketing Research |
|
Definition
| External Marketing Research- firms contract research to outside agencies |
|
|
Term
| Centralized organizational structure |
|
Definition
Centralized organizational structure- one corporate department caters to all of the
firm’s research needs. |
|
|
Term
| Decentralized organizational structure |
|
Definition
Decentralized organizational structure- each constituency has its own marketing
research arm. |
|
|
Term
| Mixed organizational structure |
|
Definition
Mixed organizational structure- a corporate research function coexists with
and complements a decentralized research function. (combination of centralized/
decentralized) |
|
|
Term
| The Marketing Research Process |
|
Definition
The Marketing Research Process- is an interrelated sequence of steps that make up a
marketing research project.
Step 1: Justify the need for marketing research.
-Potential Usefulness
-Management Attitudes
-Resources Available for Implementation
-Costs versus Benefits
Step 2: Define research objective
-Avoiding Mistakes in Problem Definition
-The importance of effective communication
Step 3: Identify data needs
Step 4: Identify data sources |
|
|
Term
|
Definition
-Secondary Data: Data that have already been collected by and are readily
available from other sources. |
|
|
Term
|
Definition
-Primary Data: Data collected for specific research needs.
-The importance of Time Frame |
|
|
Term
|
Definition
-Exploratory Research: helps investigators gain some initial insights and
may pave the way for further research. |
|
|
Term
|
Definition
-Conclusive Research: helps investigators verify insights and select the
appropriate course of action |
|
|
Term
|
Definition
-Research Proposal: is a document that briefly describes the purpose and
scope, specific objectives, sample design, data collection procedures, data analysis plan,
timetable, and estimated cost for the contemplated project. |
|
|
Term
|
Definition
-Probability Sample: each element in the population has a known, non-
zero chance of inclusion. |
|
|
Term
|
Definition
-Nonprobability Sample: is a subjective procedure in which the
probability of selection for each population unit is unknown beforehand. |
|
|
Term
| Marketing Research Ethics |
|
Definition
Marketing Research Ethics- Principles of conduct that govern the marketing research
profession. |
|
|
Term
|
Definition
| Key-Informant Technique: involves interviewing knowledgeable individuals. |
|
|
Term
|
Definition
Focus Group Interviews: An objective discussion leader(or moderator) introduces
a topic to a group of respondents and directs their discussion of that topic in a
nonstructured and natural fashion. |
|
|
Term
|
Definition
Case Study Method: An in-depth examination of a unit(customer, store,
salesperson, firm, market area, website, etc.) of interest. |
|
|
Term
|
Definition
Observational Method: Involves human or mechanical observation of what people
actually do or what events take place during a buying or consumption situation. |
|
|
Term
|
Definition
Conclusive Research: aims to verify insights and to aid decision makers in selecting a
specific course of action. |
|
|
Term
|
Definition
Descriptive Research: aims to describe something. Generates data describing the
composition and characteristics of relevant groups of units, such as customers,
salespeople, organizations, and market areas. |
|
|
Term
|
Definition
Cross-Sectional Studies: are one-time studies involving data collection at
a single period in time. |
|
|
Term
|
Definition
Longitudinal Studies: are repeated-measurement studies that collect data
over several periods in time. |
|
|
Term
|
Definition
Experimental Research: allows one to make causal inferences about
relationships among variables. // how Variable X affects Variable Y |
|
|
Term
|
Definition
| Syndicated Data: secondary data sold by research firms. |
|
|
Term
|
Definition
External Sources: sources outside the organization.
Government Sources
Syndicated Sources // Nielsen Retail Index
Trade Associations
Miscellaneous Sources // Journals, magazines, textbooks, similar published
material.
Abstract, Directories, and Indexes |
|
|
Term
|
Definition
Competitive Intelligence: gathering data using legal and ethical means and turning them
into valuable intelligence through careful analysis. |
|
|
Term
|
Definition
Ad Hoc Research Project- is a discrete, situation-specific project that is initiated
and completed in response to a particular question or set of related questions raised by a
decision maker. |
|
|
Term
| Systems-Oriented Marketing Research |
|
Definition
Systems-Oriented Marketing Research: makes appropriate marketing information
available on a regular, integrated basis. |
|
|
Term
| Marketing Information System(MkIS) |
|
Definition
Marketing Information System(MkIS)- is a continuing and interacting structure
of people, equipment, and procedures designed to gather, sort, analyze, evaluate, and
distribute, pertinent, timely, and accurate information to marketing decision makers. |
|
|
Term
|
Definition
Data Warehouse- is a centralized database that consolidates companywide data from a
variety of operational systems. |
|
|
Term
| Marketing Decision Support System (MDSS) |
|
Definition
Marketing Decision Support System (MDSS): is a marketing information system that
allows decision makers direct acces to data and answers the “what if” questions raised by
them. |
|
|
Term
|
Definition
| Queries- enable users to search a database and obtain the desired information efficiently. |
|
|
Term
|
Definition
Data mining- is the process of digging deeply into vast amounts of data to extract
valuable and statistically valid information that cannot be obtained through queries. |
|
|
Term
| Marketing Response Function |
|
Definition
Marketing Response Function- is a mathematical model that represents the relationship
between marketing input and output variables. |
|
|
Term
|
Definition
Single-Source Database: contains, in an integrated fashion, data for individual
households on household characteristics, product purchases, and exposure to marketing
stimuli. |
|
|
Term
|
Definition
Qualitative Research: is the collection, analysis, and interpretation of data that cannot be
meaningfully quantified, or summarized in the form of numbers. |
|
|
Term
|
Definition
Quantitative Research: is the collection, analysis, and interpretation of data involving
larger, more representative respondent samples and numerical calculation of results. |
|
|
Term
|
Definition
Focus Group: is a research technique that relies on an objective discussion leader or
moderator who introduces a topic to a group of respondents and directs their discussion
of that topic in a nonstructured and natural fashion. |
|
|
Term
| Electronic Group Interviewing (EGI) |
|
Definition
Electronic Group Interviewing (EGI)- involves using keypads or electronic devices to
reduce unproductive discussion time. Each participant is provided with a keypad, which
is connected to a common video display screen visible to the entire group. |
|
|
Term
|
Definition
In-Depth Interviews: are one-on-one interviews with customers that explore issues in
depth. Is a Qualitative Research Technique |
|
|
Term
| Crowded One-on-One Interview |
|
Definition
Crowded One-on-One Interview: up to three client personnel are present in the room
and observe a depth interview as it is conducted by a professional interviewer in a
conventional fashion. Qualitative |
|
|
Term
|
Definition
Projective Techniques: a fairly ambiguous stimulus is presented to respondents
who, by reacting to or describing the stimulus, indirectly reveal their inner feelings. |
|
|
Term
|
Definition
Word Association Tests: the words are read aloud one at a time to each respondent, and
the respondent is asked to say the first word that comes to mind as soon as each stimulus
word is presented. These responses are then interpreted. |
|
|
Term
| Sentence Completion Tests |
|
Definition
Sentence Completion Tests: respondents are asked to finish a set of incomplete
sentences. |
|
|
Term
| Thematic Apperception Test (TAT) |
|
Definition
Thematic Apperception Test (TAT): is a nonstructured, disguised form of questionting
in which respondents are shown a series of pictures, one at a time, and asked to write a
story about each. |
|
|
Term
| Zaltman’s Metaphor Elicitation Technique(ZMET) |
|
Definition
Zaltman’s Metaphor Elicitation Technique(ZMET): tires to bring to the surface the
mental models that drive consumer thinking by analyzing metaphors that consumers
might use. A metaphor is a figure of speech that implies comparison between two unlike
entities. |
|
|
Term
| Cartoon Test (Balloon test) |
|
Definition
Cartoon Test (Balloon test) is a pictorial technique like the TAT. The respondent
is asked to examine the stimulus picture and fill in the empty speech balloons
with words reflecting the thoughts or verbal statements of the characters involved. |
|
|
