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