Bmgt350 Ch8 Vocab

Front 1

marketing research

Back 1

process of defining a marketing problem and opportunity, systematically collecting and analyzing info, and recommending actions

Front 2

decision

Back 2

conscious choice from among two or more alternatives

Front 3

5-step marketing research approach

Back 3

1. define the problem
2. develop the research plan
3. collect relevant info by specifying
4. develop findings
5. take marketing actions

Front 4

measures of success

Back 4

criteria/standards used in evaluating proposed solutions to a problem

Front 5

constraints

Back 5

restrictions placed on potential solutions to a problem

Front 6

sampling

probability
nonprobability

Back 6

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

Front 7

statistical inference

Back 7

drawing conclusions about a pop from a sample

Front 8

data

Back 8

facts and figures related to the problem

Front 9

secondary data

Back 9

already been recorded

Front 10

primary data

Back 10

newly collected

Front 11

questionaire data

Back 11

obtained by asking people about their attitudes, awareness, intentions, and behaviors

Front 12

information technology

Back 12

uses computer and communication system to satisfy and org. needs for data storage, processing, and access

Front 13

data mining

Back 13

extraction of hidden predictive info from large databases