Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
24 Cards in this Set
- Front
- Back
|
What is a marketing information system? |
A system where marketing information is gathered, stored, analyzed & distributed to managers in accord with their informational needs on a regular planned basis |
|
|
Which are the four components of the marketing information system? |
- Internal market information (marketing databases, CRM systems, website analysis. About current customers!) - Environmental scanning - Market intelligence (big data. About new customers!) - Marketing research (specific marketing situation) |
|
|
What are the characteristics of big data? |
Volume, velocity(hastighet) and variety |
|
|
Why is marketing research important? |
- Helps companies to understand the needs and wants of customers - Shows what is happening in the market place |
|
|
Which are the different types of marketing research? |
- Ad-hoc research vs Continous research - Custom vs Syndicated research - Exploratory vs descriptive vs casual research |
|
|
Ad-hoc research vs continous research |
Ad hoc: done once, focus on specific problem. E.g. customer satisfaction survey Continous: same research on the same sample repeatedly, monitors changes over time E.g. consumer panel |
|
|
Custom vs Syndicated/omnibus research |
Custom: done for one organixation, provides specific answers Syndicated/omnibus: collected by firms and sold to firms E.g. television viewership panels |
|
|
Exploratory vs descriptive vs casual research |
Exploratory: forms research hypothesis, e.g. depth interview with industry experts Descriptive: develops stronger conclusions about a research problem, e.g. survey of a large representative sample of customers Causal: establishes cause-and-effect relationships, e.g. experimentation with variables such as packaging and it's effects are monitored |
|
|
Which are the different stages in the marketing research process? |
1. Initial contact 2. Research brief 3. Research proposal 4. Data collection 5. Data analysis and interpretation 6. Report writing and presentation |
|
|
Qualitative research |
- Semi-structured - In-depth - Small sample Focus groups, depth interviews, online qualitative, observation, ethnographic research |
|
|
Quantitative research |
- Structured study - Preset questions - Larger sample - Statistical analysis Phone surveys, face-to-face surveys, online surveys, experiments, panel research |
|
|
Which are the stages of the sampling process? |
1. Define the population 2. Search for sampling frame (list of the chosen population from which a sample can be selected) 3. Specify sampling method & determine sample size 4. Select the sample |
|
|
Which are the different classifications of sampling methods? |
Probability(sannolikhet) samples: systematic, cluster, stratified randomize (divided into groups, then random from every group), simple randomize (completely random) Non-probability: convenience (whoever is handy), snowball(get people to recruit others they know), judgment(based on the opinion of an expert), quota(same proportions of individuals as the entire population with respect to known characteristics) |
|
|
Which are the conditions to obtain a true response to a question in a questionnaire? |
- Respondents must understand the question - They must be able to provide the information - They must be willing to provide it |
|
|
Which are the stages in developing a questionnaire? |
Planning stage: definition of the research problem, exploratory research --> information required, definition of population, target groups, survey method Design stage: ordering of topics, type of question, wording and instructions layout scaling, probes and prompts, coding Pilot stage: pilot testing, redesign --> Final questionnaire |
|
|
What is market segmentation? |
The identification of individuals/organizations with similar characteristics that have significant implications for the determination of marketing strategy |
|
|
Which are the benefits of market segmentation? |
Enhanced profitability
More effective targeting of communications Opportunities of segment dominance Improved customer retention Enhanced opportunities for growth ---> better matching of customer needs |
|
|
Which are the different criterias for for segmentation of organizational markets? |
Organizational size Industry Geographic location Choice criteria Purchasing organisation |
|
|
Which are the different criterias for segmentation of consumer markets? |
Behavioral: benefits sought, purchase occasion, purchase behavior, usage, perceptions and beliefs Psychographic: lifestyle, personality Profile: demographic, socioeconomic, geographic |
|
|
What are the criterias for successful segmentation? |
Effective Measurable Accessible Actionable Profitable |
|
|
Undifferiented marketing |
a single marketing mix for the whole market |
|
|
Differiented marketing |
specific marketing mixes to appeal to all or some of the segments |
|
|
Focused marketing |
a single marketing mix aimed at one target(niche) market |
|
|
Customized marketing |
a discrete marketing mix for each customer |
