Marketing Test 2/24

customer insights

customer insights

a collection of trends in consumer behavior, data, and feedback that helps businesses deeply understand their customers and their purchasing decisions.

marketing information system

a system for gathering and analyzing information and data to help make marketing decisions

Internal databases

data that the company owns

Competitive marketing intelligence

when a company collects data about other companies, business, industries, etc. for the purpose of being more competitive by understanding their competitors and how to be better

Marketing research

taking info from “target markets and customers” and using them to get an insight on your business

Exploratory research

research that determines the project that needs to be solved

Descriptive research

research meant to answer ‘what, where, when and how’ questions

casual research

research that shows cause and effect relationships

Secondary data

data taken by a second party

Primary data

data that has been collected by the researcher

Observational research

research where you observe the subject in their “natural setting”

Ethnographic research

data collected that is used to determine things about a specific group of people

survey research

data collected through a survey

Experimental Research

research trying to prove a hypothesis (usually has control and non control)

Focus group interviewing

planned discussion with a small group of people talking about a topic

Online Marketing research

research conducted using available data online

Online focus groups

online, small group discussions guided by one person

Behavioral targeting

looking at a customers web history to see interest in products

sample

a small part or quantity to show what the whole group is like

Customer relationship management

combination of data used to identify customer needs

Marketing analytics

studying data to identify if a product was successful

big data

Big data primarily refers to data sets that are too large or complex to be dealt with by traditional data-processing application software.