Term
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Definition
Marketing Information System
- a process that determines what information is needed, then gathers, sorts, analyzes, and distributes the information |
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Term
| The 4 sources of information for MIS |
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Definition
i) Internal Company Data
ii) Marketing Intelligence
iii) Marketing Research
iv) Acquired Databases |
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Term
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Definition
| The analysis of all publicly available information |
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Term
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Definition
| The conducting and collecting of research about the consumer, competition, and environment |
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Term
| Types of marketing research (2) |
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Definition
i) Syndicated Research
- Research collected by specialized firms that is sold
ii) Custom Research
- research conducted by the firm itself to provide specific results to specific questions |
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Term
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Definition
Marketing Decision Support Systems
- software add-ons that allow for more analytics and interactivity |
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Term
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Definition
| Sophisticated analysis techniques used to take advantage of massive amounts of data |
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Term
| The 4 Things Data Mining Can Help Companies with: |
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Definition
i) Customer Acquisition
ii) Customer Retention
iii) Customer Abandonment
iv) Market Basket Analysis |
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Term
| The 7 Steps in the Marketing Research Process |
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Definition
i) Define the research problem
ii) Determine the research design
iii) Choose the collection method for the primary data
iv) Design the sample
v) Collect the data
vi) Analyze the data
vii) Prepare a report |
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Term
| Types of research design (2) |
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Definition
i) Secondary Data
- Data gathered by other companies for other reasons, yet still relevent
ii) Primary data
- Data from research that the firm itself conducts |
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Term
| Types of Primary Data (3) |
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Definition
i) Exploratory (Qualitative)
- used to generate insights for future, more rigorous studies; small-scale
ii) Descriptive (Quantitative)
- more systematic view of the problem with conclusions based on large numbers of observations
iii) Causal Research
- attempts to understand cause & effect relationships |
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Term
| Types of Exploratory Research (3) |
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Definition
i) Focus Groups
- product oriented discussions
ii) Case Studies
- comprehensive examinations of particular firms
iii) Ethnography
- Fieldwork |
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Term
| Types of Descriptive Research (2) |
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Definition
i) Cross-Sectional Design
- involves the collection of quantitative information at one point
ii) Longitudinal Design
- involves the collection of data from the same sample over time |
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Term
| Methods of Primary Data Collection (3) |
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Definition
i) Surveys
- Questionnaires vs. Face-to-face
ii) Observational
- Personal vs. Mechanical
iii) Online
- Tracking vs. Questionnaires |
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Term
| Three metrics to measure data quality |
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Definition
i) Validity
ii) Reliability
iii) Representativeness |
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Term
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Definition
i) Probability
- Everyone in the population has some chance of being included
ii) Nonprobability
- Personal judgment is used to select respondents |
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