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23 Cards in this Set
- Front
- Back
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Why is information important?
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key for better understanding marketing needs and strategies.
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Management Information System
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set of routine procedures to continuoulsy collect, moniter and present internal and external info on company preformance and opportunity in the marketplace
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MIS Task
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make info available and accessible
-with internet it is possible to make info easier and faster, connecting remote computers -type of info could take different forms; presentation, photo video -MIS organizes into data warehouse |
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Decision Support System
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computer program that helps marketing manager find info inside MIS and use info to make decision
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DSS Task
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-Like a search engine
-transforms numeric data into more useful information, like drawing graphs |
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Marketing Research
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systematic gathering, recording, and analyzing of data about problems relating to goods and services
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Marketing Research Tasks
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help manager take decision and get info that is not currently avaibale in MIS
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Marketing Research Resources
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Internal- R&D
External-Research agency -create attractive packaging -design new products -develop sales forecast -guide advertising plans |
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The Scientific Method
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way to make decisions that focus on being objective and testing ideas before accepting them
-identify problem -make hypothesis -test hypothesis |
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Marketing Research: 5 step application of the Scientific Method
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1-define problem
2-analyze situation 3-get problem specific data 4-interperating data 5-solving problem |
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Step 1-defining problem
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manager and researcher determine key decisions that require information
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Step 2-analyzing the situation
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informal study of info that is already available in the problem area
involves Secondary data:info thath has been collected of published already |
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Step 3-getting problem specific data
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primary data: info specifically collected to solve certain problem
QUESTIONING-Researchers try to learn what customers think about a particular topic OBSERVING-try to see how ppl behaev under certain conditions |
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Observing
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-monitering behaviors
-human or machine -costs coming down |
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Questioning
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-asking people
-formal or infomal -qualitative and quantitative research |
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Qualitative research
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open ended questions
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Quantitative research
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identical questions and responses options that are summarized in numbers, percentages, etc.
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The experimental method
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researcher compares resonses of two or more groups that are similar except the aspect thats being tested
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Step 4-Interpreting data
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Process of getting meaning from collected data, transformation of rough data into information
-anwsers question, What does it mean? |
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Population
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total group which researcher is interested in
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The sample
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part of relevant population that is considered for research
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Result
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conditioned on how well the sample represents population
approximation, and sometimes problems arise |
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Step 5-solve the problems
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Marketing managers use research results in marketing decisions
-find adequate marketing mix -vary on the 4 Ps |
