Chapter 5: Marketing Information and Research

Discretionary purchases
not essential, so consumers can decide whether or not to purchase them.
Internal information
information developed from activities that occur within the organization
External information
provides an understanding of factors outside of the organization
Marketing information system-
an organized method of collecting, storing, analyzing, and retrieving information to improve the effectiveness and efficiency of marketing decisions.
Input
the information that goes into the system that is needed for decision making
Storage
involves the resources used to maintain information, including equipment and procedures, so that it can be used when needed
Analysis
the process of summarizing, combining or comparing information sot that decisions can be made.
Output
is the result of analysis given to decision makers.
Marketing research
a procedure designed to identify solutions to a specific marketing problem through the use of scientific problem solving.
Secondary data
information already collected for another purpose that can be used to solve the current problem
Primary data
information collected for the first time to solve the problem being studied
Population
all of the people in the group the company is interested in studying
Sample
smaller group selected from the population
Random sampling
everyone in the population has an equal chance of being selected in the sample
Survey
a planned set of questions to which individuals or groups of people respond
Closed-ended questions
offer two or more choices as answers
Open-ended questions
to allow respondents to develop their own answers without additional information about possible choices.
Focus group
is a small number of people brought together to discuss identified elements of an issue or problem
Observation
collects information by recording actions without interacting or communicating with the participant.
Experiments
carefully designed and controlled situations in which all important factors are the same except the one being studied.
Test markets
specific cities or geographic areas in which marketing experiments are conducted.
Simulations
experiments where researchers create the situation to be studied