Marketing Chapter 4

Customer Insights

Fresh Marketing information-based understandings of customers and the marketplace that become the basis for creating customer value, engagement, and relationships

Online Focus Groups

Gathering a small group of people online with a trained moderator to chat about a product, service, or organization and gain qualitative insights about consumer attitudes and behavior

Survey Research

Gathering primary data by asking people questions about their knowledge, attitudes, preferences, and buying behavior

Observational Research

Gathering primary data by observing relevant people, actions and situations

Experimental Research

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

Primary Data

Information collected for the specific purpose at hand

Secondary Data

Information that already exists somewhere, having been collected for another purpose

Descriptive Research

Marketing research to better describe marketing problems, situations, or markets, such as the market potential for a product or the demographics and attitudes of consumers

Exploratory Research

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

Causal Research

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

Marketing Information System (MIS)

People and procedures dedicated to assessing information needs, developing the needed information, and helping decision makers to use the information to generate and validate actionable customer and market insights

Focus Group Interviewing

Personal interviewing that involves inviting 6 to 10 people to gather for a few hours with a trained interviewer to talk about a product, service, or organization. The interviewer "focuses" the group discussion on important issues.

Behavioral Targeting

Using online consumer tracking data to target advertisements and marketing offers to specific consumers

Competitive Marketing Intelligence

The systematic monitoring, collection, and analysis of publicly available information about consumers, competitors, and developments in the marketing environment

Ethnographic Research

A form of observational research that involves sending trained observers to watch and interact with consumers in their "natural environments"

Sample

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

Online Marketing Research

Collecting primary data online through Internet surveys, online focus groups, Web-based experiments, or tracking of consumers' online behavior

Internal Databases

Collection of consumer and market information obtained from data sources within the company network

Customer Relationship Management (CRM)

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

Marketing Research

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

Big Data

The huge and complex data sets generated by today's sophisticated information generation, collection, storage, and analysis technologies