Marketing Research: Terms and Definitions, Quizzes of Marketing Research

Download Marketing Research: Terms and Definitions and more Quizzes Marketing Research in PDF only on Docsity! TERM 1 Marketing Research DEFINITION 1 Systematic and objective: Identification of information needed Collection of data Analysis of data Dissemination of information Use of information Improving decision making related to the identification and solution of problems and opportunities in marketing. TERM 2 Problem Identification research DEFINITION 2 Helps identify problems not apparent on the surface or that are likely to arise in the future Market potential, market share, image, market characteristics, sales analysis, forecasting, trends research TERM 3 Marketing research process DEFINITION 3 1. Define the problem2. Develop an approach to the problem3. Formulating a research design4. Doing field work or collecting data5. Preparing and analyzing data6. Preparing and presenting the report TERM 4 Competitive Intelligence DEFINITION 4 Process of enhancing marketplace competitiveness through a greater understanding of a firm's competitors and the competitive environmentAnalyzing rivals moves TERM 5 Internal supplier (client side) DEFINITION 5 Research department within the firm TERM 6 External supplier (supplier side) DEFINITION 6 Outside firms hired to supply marketing research servicesFull serviceLimited service- specialize in a few steps of marketing research process Field service Focus group and qualitative Technical and analytical TERM 7 Full service suppliers DEFINITION 7 Offer entire range of servicesSyndicated servicesCustomized servicesInternet services TERM 8 Syndicated services DEFINITION 8 Companies that collect and sell common pools of data designed to serve information needs shared by a number of clients TERM 9 Customized services DEFINITION 9 Offer a wide variety of marketing research services customized to suit a client's specific needs TERM 10 Internet services DEFINITION 10 Social media research TERM 21 Exploratory research DEFINITION 21 Provide insights and ideas and understandingInformation needed is loosely definedResearch process is flexible and unstructuredSample is small and non representativeQualitativeTentative findingsFollowed by further exploratory or conclusive researchExpert surveys, pilot surveys, case studies TERM 22 Conclusive research DEFINITION 22 Test specific hypotheses and examine relationships Descriptive research Causal research Information needed is clearly definedResearch process is formal and structuredSample is large and representativeQuantitativeConclusive findingsFindings used as input into decision making TERM 23 Descriptive research DEFINITION 23 Describe market characteristics or functions Cross-sectional design Longitudinal design Prior formulation of specific hypothesesPreplanned and structured designQuantitative dataSurveysPanelsObservational and other data TERM 24 Cross-sectional design DEFINITION 24 Collection of information from any given sample of population elements only once Representative sampling Response bias TERM 25 Cohort analysis DEFINITION 25 Time period-horizontalAge groups-verticalCohort groups- diagonal TERM 26 Longitudinal design DEFINITION 26 Fixed sample (or samples) of population elements is measured repeatedly on the same variablesSample(s) remain the same over time Detecting change Large amount of data collection Accuracy TERM 27 Panel DEFINITION 27 Same people- Cohort analysisDescriptive research TERM 28 Marketing research proposal DEFINITION 28 Executive summary Background Problem definition/objectives of the research Approach to the problem Research design Fieldwork/Data Collection Data analysis Reporting Cost and Time Appendices TERM 29 Primary data DEFINITION 29 Originated by a researcher for the specific purpose of addressing the problem at hand. Collection of primary data involves all six steps in the marketing research process TERM 30 Secondary data DEFINITION 30 Data which have already been collected for purposes other than the problem at hand. Quick and inexpensive Specifications- methodology used to collect Error- accuracy of the data Currency- when the data was collected Objectives- purpose for which data was collected Nature- content of the data Dependability- overall, how dependable is the data TERM 31 Database marketing DEFINITION 31 Internal secondary dataUsing CRM databases to develop relationships and highly targeted marketing efforts with individuals and customer groups TERM 32 Data mining DEFINITION 32 Internal secondary dataAnalyze large data sets to discover hidden patterns TERM 33 Syndicated services DEFINITION 33 External secondary dataCompanies collect and sell common pools of data TERM 34 Syndicated sources DEFINITION 34 Classified based on unit of measurement (households/consumers or institutions) TERM 35 Psychographics DEFINITION 35 Study of personality, values, attitudes, interests and lifestyles TERM 46 Association techniques DEFINITION 46 Word association- presented with test words, respond with first word that comes to mind frequency of word given as response amount of time before response is given number of respondents who do not respond at all to test word within a reasonable period of time TERM 47 Completion techniques DEFINITION 47 Sentence completionStory completion TERM 48 Story completion DEFINITION 48 Given part of a story, give the conclusion TERM 49 Sentence completion DEFINITION 49 Given an incomplete sentence, complete them with the first word or phrase that comes to mind TERM 50 Cartoon tests DEFINITION 50 Cartoon characters are shown, respondents must indicate what one character might say in response to the comments of another TERM 51 Methods of collecting survey data DEFINITION 51 TelephonePersonalMailElectronic TERM 52 Telephone DEFINITION 52 TraditionalComputer assisted: branching, built in logic TERM 53 Personal DEFINITION 53 In-homeMall interceptComputer-assisted personal interviewing TERM 54 Mail DEFINITION 54 Mail panel: large, nationally representative sample who agree to participate in periodic survey researchMail/Fax interview TERM 55 Electronic (internet) DEFINITION 55 E-mailInternet TERM 56 Response rate DEFINITION 56 Prior notificationIncentivesFollow-upOther facilitators: personalization TERM 57 Social desirability DEFINITION 57 Tendency of respondents to give answers that are socially desirable but incorrect TERM 58 Incentives DEFINITION 58 Monetary prepaid promised Nonmonetary TERM 59 Observation methods DEFINITION 59 Structured: specifies what is to be observed and how measurements are to be recorded Unstructured: monitor all aspects that seem relevant to the problem at hand Disguised: respondents unaware they are being observed Undisguised: respondents aware they are under observation Natural: behavior takes place in environment Contrived: behavior in artificial environment TERM 60 Personal DEFINITION 60 Observes actual behavior as it occursDo not attempt to manipulate phenomenon