Marketing Prelim 2

Front 1

Define "Causal Research"

Back 1

Marketing research to test hypotheses about cause-and-effect relationships

Front 2

Define "Data Warehouses"

Back 2

These collect data from a variety of sources, and store in one accessible location

Front 3

Define "Descriptive Research"

Back 3

Marketing Research to better describe marketing problems, situations, or markets, such as the market potential for a product or the demographics

Front 4

Define "Ethnographic Research"

Back 4

Trained observers interact with and/or observe consumers in their natural habitat

Front 5

Define "Experimental Research"

Back 5

The gathering of primary data by selecting matched groups of subjects, giving them different treatments, controlling related factors, and checking for differences in group responses

Front 6

Define "Exploratory Research"

Back 6

Marketing research to gather preliminary information that will help to better define problems and suggest hypotheses

Front 7

Define "Internal Data"

Back 7

Internal data consists of electronic databases and non-electronic information and records of consumer and market information obtained from within the company

Front 8

Define "Marketing Dashboard"

Back 8

These are like the instrument panels in a car or plane, visually displaying real-time indicators to ensure proper functioning

Front 9

Define "Marketing Information System" (MIS)

Back 9

A structure of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers. The MIS begins and ends with marketing managers, but manager throughout the organization should be involved in the MIS. First, the MIS interacts with managers to assess their information needs. Next, it develops the needed information from internal company records, marketing intelligence activities, and the marketing research process. Information analysts process information to make it more useful. Finally, the MIS distributes information to managers in the right form and at the right time to help in marketing planning, implementation and control.

Front 10

Define "Marketing Intelligence"

Back 10

Everyday information about developments in the marketing environment that help managers to prepare and adjust marketing plans and short-run tactics (can come from internal or external sources)

Front 11

Define "Marketing Research"

Back 11

The systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing a company

Front 12

Define "Observational Research"

Back 12

The gathering of primary data by observing relevant people, actions and situations

Front 13

Define "Primary Data"

Back 13

Information collected for the specific purpose at hand

Front 14

Define "Sample"

Back 14

A segment of a population selected for marketing research to represent the population as a whole

Front 15

Define "Secondary Data"

Back 15

Information that already exists somewhere having been collected for another purpose

Front 16

Define "Assessing Information needs"

Back 16

A good marketing information system balances information that managers would like to have against that which they really need and is feasible to obtain

Front 17

What are internal sources of marketing intelligence?

Back 17

Internal sources include the company's executives, owners, and employees

Front 18

What are external sources of marketing intelligence?

Back 18

External sources include competitors, government agencies, suppliers, trade magazines, newspapers, business magazines, trade association newsletters and meetings, and databases available on the Internet

Front 19

What are the ways of developing Marketing Information?

Back 19

1) Internal Records
2) Marketing Intelligence
3) Marketing Research

Front 20

What are the steps of the Marketing Research process?

Back 20

1) Defining the problem and research objectives
2) Developing the research plan for collecting information
3) Implementing the research plan
4) Interpreting and reporting the findings

Front 21

What are the types of objectives for a marketing research process?

Back 21

1) Exploratory
2) Descriptive
3) Causal

Front 22

What is an "Exploratory" research objective?

Back 22

To gather preliminary information that will help define the problem and suggest hypotheses. Where the researcher does not know the actual problem and the ways and means of searching the solution for the problem encountered. You have no secondary data or litereature review or guidance for this research design.

Front 23

What is a "Descriptive" research objective?

Back 23

To describe the size and composition of the market. In this case the researcher exactly knows what has to be studied and where to look for the solution. Secondary data and literature review are available in this case.

Front 24

What is a "Causal" research objective?

Back 24

To test hypotheses about cause-and-effect relationships. This is undertaken to find out whether any relationship exists between two variables - one being the cause and the other being the result

Front 25

What are the factors that need to be determined to develop a research plan for collecting information?

Back 25

1) Specific information needs
2) Research approaches
3) Contact methods
4) Research instruments
5) Presenting the research plan

Front 26

What are the types of research approaches?

Back 26

1) Observational research
2) Survey research
3) Experimental research

Front 27

Define "Sampling Plan"

Back 27

Marketing researchers usually draw conclusions about large consumer groups by taking a sample. A sample is a segment of the population selected to represent the populations as a whole. Designing the sample calls for four decisions: 1) Who will be surveyed? 2) How many people should be surveyed? 3) How should the sample be chosen? 4) When will the survey be given

Front 28

What are the types of research instruments?

Back 28

1) Interview (Structured or unstructured-structured interviews employ the use of a questionnaire)
2) Mechanical Devices
3) Structured models (such as a test market)

Front 29

What does implementing a research plan man?

Back 29

Putting the marketing research plan into action by collecting, processing, and analyzing information