Fresh understandings of customers and the marketplace derived from marketing information that become the basis for creating customer value and relationships.
Marketing information system
People and procedures for assessing information needs, developing the needed information, and helping decision makers to use the information to generate and validate actionable customer and market insights.
Electronic collections of consumer and market information obtained from data sources within the company network.
Competitive marketing intelligence
The systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketing environment.
The systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.
Marketing research to gather preliminary information that will help define problems and suggest hypotheses.
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.
Marketing research to test hypotheses about cause-and-effect relationships.
Information that already exists somewhere, having been collected for another purpose.
Information collected for the specific purpose at hand.
Commercial online databases
Collections of information available from online commercial sources or accessible via the Internet.
Gathering primary data by observing relevant people, actions, and situations.
A form of observational research that involves sending trained observers to watch and interact with consumers in their “natural environments.”
Gathering primary data by asking people questions about their knowledge, attitudes, preferences, and buying behavior.
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 six to ten people to gather for a few hours with a trained interviewer to talk about a product, service, or organization. The 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 groups
Gathering a small group of people online with a trained moderator to chat about a product, service, or organization and gain qualitative insights about consumer attitudes and behavior.
A segment of the population selected for marketing research to represent the population as a whole.
Simple random sample
Every member of the population has a known and equal chance of selection.
Stratified random sample
The population is divided into mutually exclusive groups (such as age groups), and random samples are drawn from each group.
Cluster (area) sample
The population is divided into mutually exclusive groups (such as blocks), and the researcher draws a sample of the groups to interview.
The researcher selects the easiest population members from which to obtain information.
The researcher uses his or her judgment to select population members who are good prospects for accurate information.
The researcher finds and interviews a prescribed number of people in each of several categories.
Customer relationship management
Managing detailed information about individual customers and carefully managing customer touch points to maximize customer loyalty.