Marketing (12th edition Kerin, Hartley, Rudelius) Ch. 8

Marketing Research
the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions.
Decision
a conscious choice from among two or more alternatives
Exploratory Research
provides ideas about a vague problem
Descriptive Research
involves trying to find the frequency with which something occurs or the extent of a relationship between two factors
Causal Research
tries to determine the extent to which the change in one factor changes another one
Measures of Success
criteria or standards used in evaluating proposed solutions to the problem
Constraints
the restrictions placed on potential solutions to a problem
Data
the facts and figures related to the project that are divided into two main parts: secondary data and primary data
Secondary Data
facts and figures that have already been recorded prior to the project at hand
Primary Data
facts and figures that are newly collected for the project
Observational Data
facts and figures obtained by watching, either mechanically to in person, how people actually behave
Questionnaire Data
facts and figures obtained by asking people about their attitudes, intentions, and behaviors.
Information Technology
involves operating computer networks that can store and process data
Cross Tabulation
(cross tab) method of presenting and analyzing data involving two or more variables to discover relationships in the data
Sales Forecast
the total sales of a product that a firm expects to sell during a specified times period under specified environmental conditions and its own marketing efforts