MKT 300 Chapter 5
database
A collection of information arranged for easy access and retrieval
validity
A condition that exists when a research method measures what it is supposed to measure
reliability
A condition that exists when a research technique produces almost identical results in repeated trials
random sampling
A form of probability sampling in which all units in a population have an equal chance of appearing in the sample, and the various events that can occur have an equal or known chance of taking place
marketing information system (MIS)
A framework for managing and structuring information gathered regularly from sources inside and outside the organization
quota sampling
A nonprobability sampling technique in which researchers divide the population into groups and then arbitrarily choose participants from each group
non-probability sampling
A sampling technique in which there is no way to calculate the likelihood that a specific element of the population being studied will be chosen
stratified sampling
A type of probability sampling in which the population is divided into groups with a common attribute and a random sample is chosen within each group
probability sampling
A type of sampling in which every element in the population being studied has a known chance of being selected for study
hypothesis
An informed guess or assumption about a certain problem or set of circumstances
research design
An overall plan for obtaining the information needed to address a research problem or issue
Statistical interpretation
Analysis of what is typical and what deviates from the average
Crowdsourcing
Combines the words crowd and outsourcing and calls for taking tasks usually performed by a marketer or researcher and outsourcing them to a crowd, or potential market, through an open call
marketing decision support system (MDSS)
Customized computer software that aids marketing managers in decision making
Secondary data
Data compiled both inside and outside the organization for some purpose other than the current investigation
Primary data
Data observed and recorded or collected directly from respondents
single-source data
Information provided by a single marketing research firm
Big data
Massive data files that can be obtained from both structured and unstructured databases
descriptive research
Research conducted to clarify the characteristics of certain phenomena to solve a particular problem
exploratory research
Research conducted to gather more information about a problem or to make a tentative hypothesis more specific
Conclusive research
Research designed to verify insights through objective procedures and to help marketers in making decisions
Experimental research
Research that allows marketers to make causal inferences about relationships
customer advisory boards
Small groups of actual customers who serve as sounding boards for new-product ideas and offer insights into their feelings and attitudes toward a firm's products and other elements of its marketing strategy
Marketing research
The systematic design, collection, interpretation, and reporting of information to help marketers solve specific marketing problems or take advantage of marketing opportunities
Marketing analytics
Use of and methods to measure and interpret the effectiveness of a firm's marketing activities
According to your text, what is typically the first sign of a problem that could prompt the marketing research process?
a departure from normal process
Which of the following creates the greatest privacy issues?
big data
Marketers at Coca-Cola are exploring why sales of soft drinks have been declining in recent years, but sales of product competitors like bottled water and tea are rising. To understand the characteristics of this phenomenon in order to identify potential strategies to reverse the trend, they should conduct ___________.
descriptive research
Experts recommend a two-pronged approach to international marketing research: (1) a detailed search for and analysis of secondary data; and (2) ________________.
field research to refine a firm's understanding of specific customer needs and preferences
ACME Corp. managers are engaged in the process of systematically designing, collecting, interpreting, and reporting of information to help solve specific marketing problems or take advantage of marketing opportunities. This approach is best described as ___________.
marketing research
Because marketing managers are relying more on marketing research, marketing information systems, and new technologies to make better decisions, it is essential to establish ________ by which to judge the reliability of marketing research.
professional standards