Marketing vocab

Activity reports
Reports requiring sales people to provide details as a measure of their activity Ina given period
Behavioral segmentation
The division of a market on the basis of consumers’ response to a product
Call reports
Records of salespeople’s meetings or contacts with customers
Casual research
Marketing research that focuses on cause and effect an tests “what If?” Theories. Also known as conclusive research
Cloud storage
Online storage that enables users to upload. Store. And access their files via the Internet:users’ files are maintained by a third-party at a remote database storage facility
Competitive advantage
The edge achieved by a businesses that offer something better than their competitors
Conclusive research
Casual research: marketing research that focuses on cause and effect and test “what if?” Theories
Cookies
Text files that are put on a website visitors hard disk and then later retrieved during subsequent visits to the site in order to track Internet behavior
Cost-effective
Economical: good value in relation to the price, or cost
Customer satisfaction
A measure of how well a business has met its customers’ expectations
Data
Facts and figures, information and facts
Data gathering
The process o collecting facts and figures
Data processing
Handling information, especially facts. Handling facts and figures. Analyzing the facts and figures collected and putting them into formats useful to the business
Database
Computerized storage for information and facts. A virtual storage unit for information
Decision problem
The basic issue that managers are facing: the reason they believe marketing research is necessary
Decision-oriented
Accustomed to making choices
Delphi technique
A qualitative sales forecasting method that gathers opinions from company executives and from outside experts such as university professors, consultants, or industry analysts
Demographic segmentation
The division of a market in the basis of its physical and social characteristics
Descriptive research
Marketing research that gathers specific information related to the identified issue, situation, or concern
Electronic interview
Surveying individuals via-email or Internet web sites to obtain research data
Enterprise resource planning planning
Software applications using database technology that enables a business to manage its information about customers, products, employees, and finances
Estimate
An approximate judgement or calculation. An approximation of data; an “educated guess”
Experiment
A marketing-research method that tests cause and effect by test marketing new products or comparing test groups with control groups. A marketing research that gathers specific inform sting to help the business define its issue. Situation or concern
Exploratory research
Marketing- research that collects information to help the business define its issue, situation, or concern and decide how to proceed to address it
External data
Facts and figures available in locations outside the company
Facts
Something that actually exists; reality; truth, a true statement
Frequency
A quantitative measure of the average number of times a target consumer is exposed to an advertising message
Geographic segmentation
The division of a market in the basis of where consumers are located
Hoftstede’s dimensions of national cultures
Measures of different aspects of society based on the experience and research of Gerrt Hofstede
Hypothesis
A statement of the expected outcomes of a research project: a proposed explanation for something
Information
Knowledge, facts, or data presented in a useful form
Information reporting
Moving information through the appropriate channels or making information accessible to those who need it
Internal data
Facts and figures located inside the company
Intranet
An internal network similar to the Internet that is accessible only by authorized personnel; used to access information and communicate with others within an organization
Lost sales reports
Records why items orders are cancelled; used to estimate the total sales that stand to be lost because items are understocked. This report lists every item whose stock is currently zero and its minimum, I.e the number of items that should be in stock
Marketing information
Data available from inside and outside the business that have been processed and organized so that they can be used to create, communicate, and deliver value to customers and for managing customer relations in ways that benefit the organization and its stakeholders; data collected from internal sources, external sources or marketing research
Marketing-information management
A marketing function that involves gathering, accessing, synthesizing, evaluating, and disseminating information to aid in business decisions. Organized attempt by a business to gather information to make better decisions about marketing issues, strategies, and problems
Marketing-information management system
An organized way of continuously gathering, sorting, analyzing, evaluating, and distributing marketing information
Marketing intelligence
Marketing data that are gathered informally from internal and external sources; may or may not relate to any current issue or project
Mail interview
Surveying individuals via the postal service to obtain research data
Market opportunity
Situation that occurs when an economic want exists and there is an idea for a good or service to fulfill that want: a good or service that people are willing and able to buy
Marketing research
The systematic gathering, recording, and analyzing of data about a specific issue, situation, or concern that affects a market. Involves the marketing function that links the consumer, customer, and the public to the marketer through information
Market research and development
The systematic gathering recording, and analyzing of data about a specific issue, situation, or concern, and the use of that data to create and implement plans to reach new target audiences
Marketing-research design
The master plan for conducting marketing research: lays out the types of data needed, how much data to collect, what collection methods to use, and how data will be analyzed
Market segmentation
The division of a total market into smaller. More specific groups
Market segment
One of the groups into which the total market is divided
Market share
An organization’s portion of the total industry sales in a specific market
Market share analysis
A breakdown of market share data that allows a company to measure its sales performance against those of its competitors
Niche
The small segment of the total market interested in a subject
Observation
A marketing-research method that gathers data by watching consumers