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13 Cards in this Set

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marketing research
process of defining a marketing problem and opportunity, systematically collecting and analyzing info, and recommending actions
decision
conscious choice from among two or more alternatives
5-step marketing research approach
1. define the problem
2. develop the research plan
3. collect relevant info by specifying
4. develop findings
5. take marketing actions
measures of success
criteria/standards used in evaluating proposed solutions to a problem
constraints
restrictions placed on potential solutions to a problem
sampling

probability
nonprobability
selecting representative elements from a population

using precise rules to select the sample such that each element of the pop has a specific known chance of being selected

arbitrary judgments to select the sample so that the chance of selecting a particular element may be unknown or 0
statistical inference
drawing conclusions about a pop from a sample
data
facts and figures related to the problem
secondary data
already been recorded
primary data
newly collected
questionaire data
obtained by asking people about their attitudes, awareness, intentions, and behaviors
information technology
uses computer and communication system to satisfy and org. needs for data storage, processing, and access
data mining
extraction of hidden predictive info from large databases