Chapter 4: Marketing 305

EMV=

(p)(financial outcome)+(1-p)(financial outcome of -p)

Causation

Correlation, time sequence, control

Ethnographic research

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

primary data

are information collected for the specific purpose at hand

time sequence

cause must precede effect

the domino's leadership team determined that while it was a great dilivery company, the poor taste of their pizza was impediment to future growth. to what stage of marketing research process did this realization correspond?

defining the problem and research objectives

in order to determine which combination of crust, sauce, and cheese options work best together, the domino's researchers employed a ___ research design

experimental

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

secondary data

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

descriptive research

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

Exploratory research

is marketing research to gather preliminary information that will help define problems and suggest hypothesis

causal research

is marketing research to test hypotheses about cause-and-effect relationships

customer insight

is the fresh understanding of customers and the market place derived from marketing information that becomes the basis for creating customer value and relationships

Experimental research

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

the group of individuals in the video and the processes by which they gather information to help decision makers generate and validate actionable customer and market insights could be described as

marketing information system

Correlation

must be related

control

no other explanation

in order to better understand consumers perceptions of the taste of domino'a, the research team utilized an online listening approach, examine unsolicited options about their pizza on social networks. this approach is described as

observational

in order to asses the effectiveness of its "oh yes we did" ad campaign, domino's tested the ad using a small group of individuals it thought was representative of the overall market. this group of consumers in called?

sample

customer relationship management

the overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction

Competitive marketing intelligence

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

marketing research

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

when are there problems

when gaps between what was supposed to happen and what did happen. (problems/threats) Gaps between what is happening and what could happen (opportunities)

when is market research NOT needed

when the information is already available, when the decisions must be made immediately, when the research is not affordable, when the costs outweigh the value of marketing research