Marketing 2500 Chapter 4 vocab

Customer insights?
Fresh understandings of customers and the marketplace derived from marketing information that become the basis for creating customer value and relationships
Marketing information systems?
People and procedures dedicated to assessing info needs, developing the needed info, helping decision makers to use the info to generate and validate actionable customer and market insights
Internal databases?
Electronic collections of consumer and market info obtained from data sources within the company network.
Competitive Marketing intelligence?
Systematic collection and analysis of publicly available info about consumers, competitors, and development in the marketing environment.
Market research?
Systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization
Exploratory research?
Marketing research to gather preliminary info that will help define problems and suggest hypothesis
Descriptive research?
Marketing research to better describe marketing problems, situations, or markets, such as the market potential for a product or the demographics and attitudes of consumers.
Causal research?
Marketing research to test hypotheses about cause- and-effect relationships
Secondary data?
Info that already exists somewhere, having been collected for another purpose.
Primary data?
Info collected for specific purpose at hand
Observational research?
Gathering primary data by observing relevant people, actions, and situations
Ethnographic research?
A form of observational research that involoves sending trained observers to watch and interact with consumers in their “natural environments.”
Survey research?
Gathering primary data by asking people questions about their knowledge, attitudes, preferences, and buying behavior.
Expermental research?
Gathering primary data by selecting matched groups of subjects, giving them different treatments, controlling related factors, and checking for differences in group responses.
Focus group interviewing?
Personal interviewing that involves inviting 6 to 10 people to gather for a few hours with a trained interviewer to talk about a product, service, or organization.

Interviewer “focuses” the group discussion on important issues

Online marketing research?
Collecting primary data online through internet surveys, online focus groups, web-based experiments, or tracking consumers’ online behavior
Online focus group?
Gathering a small group of people onlne with a trained moderator to chat about a product, service or organization and gain qualitiative insights about consumer attitudes and behavior
Behavioral targeting?
Using online consumer tracking data to target advertisements and marketing offers to specific consumers.
Sample?
A segment of the population selected for marketing research to represent the population as a whole
Customer relationship management? (CRM)
Managing detailed information about individual customers and carefully managing customer touch points to maximize customer loyality