Chapter 4 Marketing

Observational Research

involves gathering primary data by observing relevant people, actions and situations

Competitive Marketing Intelligence

is the systematic collection and analysis of publicly available information about customers, competitors and development in the marketlplace

Marketing Research

is the systematic design, collection, analysis and reporting of data relevant to a specific marketing situation facing an organization.

Descriptive research

is to describe things such as the market potential for a product of the demographics and attitudes of customers who buy the product.

Exploratory research

is to gather preliminary information that will help define the problem and suggest hypothesis.

Casual reasearch

is to test hypothesis about cause and effect relationships

Customer Relationship management

managing detailed information about individual customers and carefully managing customer touch points to maximize customer loyalty

focus group interview

personal interviews that involve inviting people to gather for a few hours with a trained interviwer.

Ethnographic Research

research involves sending observers to watch and interact with customers in their natural environment

Online focus groups

Gathering small group of people online with a trained moderator to chat about a product, service or organization and gain insight

Sample

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

Customer Insight

collect customer and market information from a wide variety of sources

Online marketing research

collecting primary data online through internet surveys online focus groups web based.

Primary data

consists of information collected for the specific purpose at hand.

Secondary Data

consists of information that already exists somewhere having been collected for another purpose.q

Marketing Information System

consists of people and procedures dedicated to assessing information needs, developing the needed information to generate and validate customer insights.

Internal Database

electronic collections of consumer and market information obtained from data sources with the companys network.

Experimental Research

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

Survey Research

the most widely used method for primary data collection is the approach best suited for gathering descriptive information.