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20 Cards in this Set
- Front
- Back
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Marketing Research
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Process of planning, collecting, analyzing, and communicating info to decision makers
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Marketing Research is important to
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situation analysis, strategy development, marketing plan development, and monitoring the performance of plans following implementation
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Situation Analysis examines
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Economic environment, technological developments, social changes, legal and political developments
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Strategy development includes
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What biz and how will biz compete. Goals of biz
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Marketing Plan Developtment
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How the elemtns of marketing mix can be most effectively used as well as market segmantation, product differentiation, product positioning, and tarket market selection
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Monitoring the performance
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requires sales, customer satisfaction, brand switching
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Marketing research process
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Define objective, determine research type, determine approach, select data method, analyze results, report findings
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research design
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specifies the plan for collection and anaylyzing data
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probability samples
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select persons from designated population randomly
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non-probabilily samples
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non random samples
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Survey research
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acquiring information by communicating directly with individuals
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Observation
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collecting data without permission so actions wont be influenced
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Experimental research
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research in controlled settings for cause and effect
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Simulation
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computer based programs to assess the impact of alternative marketing strategies
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Marketing Information System
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made of people, equipment, and procedures to gather, sort, analyze, evaluate and distribute info
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Forecasting qualitative techniques
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Internal expert opinion, independent experts, decision trees and scenario building
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Forecasting quantitative techniques
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sales forecasts bases on historical data, mathematical models, multiple regression analysis, econometric modeling
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Short term forecast
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next month or quarter
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medium term forecast
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for year
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long term forecast
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for next 5 years
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