Marketing chapter 10 – terms (Definitions from "Contemporary marketing 17e Boone & Kurtz")

Marketing research
Process of collecting and using
information for marketing
decision making.
Big data
Fueled by 21st century technological
advances, the vast and unprecedented volume, speed, and array of data
available for informed decision making.
Marketing Intelligence
Sum total of information related to a
firm’s markets, which a firm
gathers in order to better
understand their customers,
target customer segments,
and develop long-term
customer relationships.
Marketing Information System
Planned, computer-based system
designed to provide managers with a continuous flow of information relevant
to their specific decisions and
areas of responsibility.
Marketing Decision support system
Marketing information system
component that links a
decision maker with relevant
databases and analysis tools.
Syndicated service
Organization that provides standardized data on a periodic basis to its
subscribers.
Full-service research supplier
Marketing research organization that
offers all aspects of the
marketing research process.
limited-service research supplier
Marketing research firm that specializes in a limited number of research activities, such as conducting field
interviews or performing data processing.
Metrics
Quantifiable measurements that
are compared against organizational objectives to gauge overall performance.
Data mining
Technique in which a user employs
special software to search
through computerized data
files to detect patterns.
Predictive Analytics
Use of business intelligence data to
model scenarios and create
forecasts.
Key performance indicator
Quantifiable measurement, articulated
in advance, that reflects an organization’s goals and is critical to its success.
Exploratory research
Process of discussing a marketing
problem with informed
sources both within and
outside the firm and
examining information from
secondary sources.
sales analytics
in-depth evaluation of a firm’s sales.
hypothesis
Tentative explanation for a specific
event.
research design
Master plan for conducting market
research.
secondary data
Previously published information.
primary data
Information collected for a specific investigation.
Sampling
Process of selecting survey respondents
or research participants.
population (Universe)
Total group that researchers want to
study.
Probability sample
Sample that gives every member of the
population a known chance of being selected.
Simple random sample
Basic type of probability sample in which every individual in the
relevant universe has an
equal opportunity of being
selected.
Stratified sample
Probability sample constructed to
represent randomly selected
subsamples of different
groups within the total
sample; each subgroup is
relatively homogeneous for a
certain characteristic.
cluster sample
Probability sample in which
researchers select a sample
of subgroups (or clusters)
from which they draw
respondents; each cluster
reflects the diversity of the
whole population sampled.
Non probability sample
Sample that involves personal judgment
somewhere in the selection process.
convenience sample
Nonprobability sample selected from
among readily available respondents.
quota sample
Nonprobability sample divided to maintain the proportion of certain
characteristics among different segments or groups.
interpretive research
Observational research method developed by social anthropologists
in which customers are observed in their natural setting and their behavior
is interpreted based on an understanding of social and cultural characteristics; also known as ethnography, or
“going native.”
focus group
Small group of individuals brought
together to discuss a specific
topic.
Controlled experiment
Scientific investigation in which a
researcher manipulates a
test group and compares the
results with those of a control
group that did not receive
the experimental controls or
manipulations.
test marketing
Marketing research technique that involves introducing a new product
in a specific area and then
measuring its degree of
success.