Marketing Research Chapters 1-3

Marketing

A set of institutions and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society.

Crowdsourcing

The practice of obtaining services or ideas by asking for assistance from large groups of people, generally online communities.

Marketing Concept

A business philosophy that holds the key to achieving organizational goals is being more effective than competitors in creating, delivering, and communicating customer value.

Marketing Strategy

Selecting a segment of the market as the target market and designing a mix of product/service, price, promotion, and distribution to meet consumer needs.

Marketing Research

The process of designing, gathering, analyzing, and reporting information to solve a specific marketing problem.

Market Research

Applying marketing research to a specific market.

Function of Marketing Research

To link the consumer to the marketer.

Basic Research

Conducted to expand knowledge rather than to solve a specific problem.

Applied Research

Conducted to solve specific problems.

Marketing Information System (MIS)

A structure for gathering, sorting, analyzing, evaluating, and distributing needed marketing information.

Internal Reports System

Gathers information generated within a firm, including orders, billing, receivables, and inventory levels.

Marketing Intelligence System

A set of procedures and sources used by managers to obtain everyday information about pertinent developments.

Marketing Decision Support System (DSS)

Collected data accessible and analyzable using tools that assist managers in decision making.

Marketing Research System

Gathers information for a specific situation facing the company.

Big Data

Large datasets analyzed to uncover patterns and insights for decision-making.

Internet of Things (IoT)

Devices that collect and share data continuously.

Client-Side Research

Research conducted within an organization.

Do-it-yourself (DIY) Research

Firms conducting their own marketing research.

Supply-side Research

Research conducted by an outside firm hired for marketing research needs.

Full-service Supplier Firms

Firms capable of conducting the entire marketing research project.

Limited-service Supplier Firms

Firms specializing in one or a few marketing research activities.

Sugging

Selling under the guise of research.

Frugging

Fundraising under the guise of research.

Transparency Initiative

A program by AAPOR encouraging routine disclosure of research methods to the public.

National Do Not Call Registry

Calling U.S. residents to conduct surveys is exempt from this registry.

Focus Groups

Small group discussions used to gather qualitative insights.

Professional Researcher Certification (PRC)

A credential for expertise in marketing research.

Supplier

A firm that can be referred to as an agency or simply a supplier.

Agency

A supplier firm that conducts marketing research.

GreenBook

Monitors trends in the marketing research industry.

Blue Book

A directory of marketing research services and focus group facilities.

Quirk’s

An online directory providing access to over 7,000 research firms and jobs.

Field Services Firms

Companies specializing in data collection.

Problems

Situations that call for managers to make choices among alternatives.

Key Performance Indicators (KPIs)

Measures indicating how well a company is performing relative to its objectives.

Marketing Opportunity

A potentially favorable circumstance for a company to perform successfully.

Symptom

An observable sign indicating that a problem exists.

Situation Analysis

Exploratory research to gather background information pertinent to a problem.

Decision Alternatives

All marketing actions a manager considers to resolve a problem.

Problem Statement

A concise description of the problem or opportunity that requires research.

Research Objective

A goal-oriented statement or question specifying the needed information to solve a problem.

Hypotheses

Statements assumed true for the purpose of argument or investigation.

Construct

An abstract idea or concept composed of related attitudes or behaviors.

Variables

Elements of a construct that can be measured or quantified.

Action Standard

A designated quantity of an attribute that must be achieved for an action to take place.

Marketing Research Proposal

The contract documenting what the researcher pledges to deliver as a result of the research process.