Term
| what is the marketing information system (MIS)? |
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Definition
| the people, equipment and procedures used to gather, sort, analyze, evaluate, and distribute timely and accurate information to marketing decision makers |
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Term
| "A good MIS system balances the information that managers ____ _____ to have against what they really _____ and what is _____ to accomplish" |
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Definition
| "A good MIS system balances the information that managers would like to have against what they really need and what is feasible to accomplish" |
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Term
| what information is needed in marketing environment |
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Definition
| info about political, legal, social, cultural, economic, natural, and demographic environments |
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Term
| what information is needed competition |
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Definition
| info on direct and indirect competitors |
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Term
| what information is needed strategic planning |
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Definition
| info concerning what the marketing objectives and strategies |
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Term
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Definition
| info about product development and product stocking |
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Term
| how does information flow through the MIS? |
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Definition
1. information development
2. information analysis
3. distritubion of information |
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Term
| how does information develop? |
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Definition
1. internal records
2. marketing intelligence
3. distributing information |
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Term
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Definition
| info gathered from sources within the company to evaluate marketing performance and to detect marketing problems and opportunities. they can usually be obtained more quickly and cheaply than other information sources |
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Term
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Definition
the systematic collection and analysis of publicly available information about competitors and developments in the marketing environment.
Information relating to competitors, technological developments and customers; the macro environment and microenvironment.. suppliers, customers, and resellers |
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Term
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Definition
the function that links the consumer, customer, and public to the marketer through information used to:
identify and define marketing opportunities and problems
generate, refine, and evaluate marketing actions
monitor marketing performance
improve understanding of the marketing process
ex- advertising and media research, competitor and market share analysis |
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Term
| what is marketing research? |
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Definition
| marketing research gathers information about the target market, which consists of the customer, the public, and the consumer, concerning the markets opportunities and problems. this information is gathered via identification, definition, and action and delivered to the marketer |
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Term
| benefits of market research |
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Definition
improve the quality of decision making
guide communications with current and potential customers
identify potential opportunities in the market place
minimize business risks by uncovering prospective problem
create benchmarks and track progress
evaluate overall success |
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Term
| what is the marketing research process? |
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Definition
1. defining the problem
2. developing the research plan
3. implementing the research plan
4. interperting and reporting the findings |
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Term
| what are the two types of research for a study? |
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Definition
1. exploratory research: why? how? when?
2. conclusive research: casual research and descriptive research |
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Term
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Definition
| marketing research to gather preliminary information that will help to define problems better and suggest hypotheses |
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Term
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Definition
| marketing research to describe marketing problems, situations, or markets better-- such as the market potential for a product or the demographics and attitudes of consumers |
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Term
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Definition
| marketing research to test hypotheses about cause and effect relationships |
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Term
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Definition
qualitative research = exploratory research
gives a discussion/statement of information about the motivations, perceptions, and thoughts of a group |
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Term
| quantitative research = ? |
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Definition
quantitative research = descriptive and casual research
gives numerical/statistical information about how many people in a population share a set of characteristics |
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Term
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Definition
| consists of information that already exists |
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Term
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Definition
| consists of information collected for the current research purpose. researchers must take care to obtain relevant, accurate, current, and unbiased primary data |
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Term
| qualitative research has ______ while quantitative research has ______ |
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Definition
| qualitative research has depth while quantitative research has breadth |
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Term
| what are the two research methods? |
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Definition
1. observational
2. survey |
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