Marketing Ch 4

What do marketers use to analyze big data?

Marketing analytics

What is one downside of international marketing research?

Translating questionnaires from one language to another is not an easy task

ways to develop market information

internal data, marketing intelligence, marketing research

causal research

test hypothesis about cause and effect relationships

What are the four steps of the marketing research process?

1. Define the problem and research objectives 2. Develop the research plan 3. Implement the research plan 4. Interpret and report findings

marketing research process

1. define problem, research objectives 2. develop research plan for collecting info 3. implement research plan, collect and analyze data 4. interpret and report findings

Big Data

Date contained in huge and complex data sets

What are the three types of marketing research objectives?

Exploratory research, descriptive research, and causal research

What are three general sources from which marketers can obtain information?

Internal Data, marketing intelligence, and marketing research

What are the two main public policy/ethics issues in marketing research?

Intrusions on customer privacy, and misuse of research findings

To deliver real value to marketers, marketing information must_________

Provide useful customer insights

Marketing Information System

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

control of interviewer effects

acting differently because someone is watching

why do companies use customer relationship management?

To capture and use customer data

sample

a segment of the population selected to represent the population as a whole

primary data

collected info for a specific purpose at hand, more relevant, more recent

secondary data

collecting info that already exists somewhere, cheaper, faster

internal data

data sources from within company network

descriptive research

describe things such as market potential for a product or a demogrphic

marketing intelligence

getting info from publicly available info

types of marketing research approaches

exploratory research, descriptive research, causal research

Customer insights

fresh understandings of customers derived from marketing information

exploratory research

gather preliminary info to help define a problem and suggest hypotheses

marketing research

getting data relevant to a specific marketing situation facing an organization

primary data collection research approaches

observational approach, survey research, experimental research

instruments to collect primary data

questionnaires, mechanical instruments (people counters, checkout scanners)

marketing information systems

represent people and procedures for 1. assessing info needs 2. developing needed info 3. analyzing and using info

components of a sample

sampling unit, sampling size, sampling procedure