Chapter 4 Understanding Your Customer

Front 1

Marketing Research

Back 1

the act of collecting, interpreting, and reporting information concerning a clearly defined marketing problem.

Front 2

demand analysis

Back 2

A type of research used to estimate how much customer demand there is for a particular product and understand the factors driving that demand.

Front 3

Four P's

Back 3

product, price, place, promotion

Front 4

sales forecasting

Back 4

a form of research that estimates how much of a product will sell over a given period of time.

Front 5

advertising effectiveness studies

Back 5

A type of research that measures how well an advertising campaign meets marketing objectives.

Front 6

sales tracking

Back 6

a type of research that follows changes in sales during and after promotional programs to see how the marketing efforts affected the company's sales.

Front 7

The marketing research process

Back 7

1- problem definition
2-plan development
3-data collection
4-data analysis
5-taking action

Front 8

primary data

Back 8

Data collected specifically for the research problem at hand.

Front 9

secondary data

Back 9

data collected for purposes other than answering firms questions.

Front 10

exploratory research

Back 10

A type of research that seeks new insights that will help the firm better understand that the problem or consumer thoughts, needs, and behavior.

face-to-face interaction , interview

Front 11

descriptive research

Back 11

a type of study that seeks to understand consumer behavior by answering who, what, where, when,and how.

Front 12

casual research

Back 12

a type of research used to understand the cause-and effect relationships among variables.

Front 13

sampling

Back 13

the process of selecting a subset of the population that is representative of the population as a whole.

Front 14

sample

Back 14

a representative subset of the larger population.

Front 15

probability sampling

Back 15

a type of sampling in which every person in the target population has a chance of being selected, and the probability of each person being selected is known.

Front 16

simple random sampling

Back 16

a type of sampling in which everyone in the target population has an equal chance of being selected.

Front 17

nonprobability sampling

Back 17

a type of sampling that does not attempt to ensure that every member of the target market has a chance of being selected.

Front 18

quota sampling

Back 18

a type of sampling in which certain number of participants is picked based on selection criteria such as demographics.

Front 19

snowball sampling

Back 19

A type of sampling in which a set of participants is selected based on the referral of other participants who know they have some knowledge of the subject in question.

Front 20

qualitative data collection

Back 20

focus groups,interview, observation

Front 21

primary data

Back 21

qualitative or quantitative

Front 22

quantitative

Back 22

surveys, experiments, and mathematical modeling.

Front 23

surveys

Back 23

data collection tool that poses a sequence of questions to respondents.

answers who, what, where, why, how.

Front 24

experiments

Back 24

procedures undertaken to test a hypothesis.

*allow researcher to control the research setting in order to examine casual relationships between variables.

Front 25

field experiments

Back 25

experiments performed in natural settings like stores or malls.

*difficult to control

Front 26

neuromarketing

Back 26

technique that measures brain activity when a participant is subjected to a particular stimulant to understand how consumers feel about products, packaging and advertisement.

Front 27

mathematical modeling

Back 27

type of casual research that involves using equations to model the relationships between variables.

Front 28

marketing information systems

Back 28

MIS
DSS
Data mining

Front 29

marketing information system (MIS)

Back 29

computer software that helps companies continuously capture information and store it in a way that makes it accessible to researchers and decision makers.

Front 30

decision support system (DSS)

Back 30

a computer program that enable access and use of the information stored in data warehouse.

( sales data and competitor information)

Front 31

data mining

Back 31

a process that involves the computerized search for meaningful trends in a large amount of data.

Front 32

competitive intelligence

Back 32

involves systematically gathering data about what strategies direct and indirect competitors are pursuing in terms of new product development and the marketing mix.

Front 33

sales forecasting

Back 33

time series techniques
regression techniques
judgemental techniques

Front 34

customized research firms

Back 34

research providers that offer services designed specifically for their customers.

Front 35

standardized research firms

Back 35

research providers that use common research designs that may apply to the research needs of many firms.

Front 36

global marketing research challenges

Back 36

political
legal
sociocultural
technological

Front 37

validity

Back 37

the extent to which data measures what the researcher intended to measure.