Marketing Notes 4-7

studied byStudied by 0 people
0.0(0)
learn
LearnA personalized and smart learning plan
exam
Practice TestTake a test on your terms and definitions
spaced repetition
Spaced RepetitionScientifically backed study method
heart puzzle
Matching GameHow quick can you match all your cards?
flashcards
FlashcardsStudy terms and definitions

1 / 29

encourage image

There's no tags or description

Looks like no one added any tags here yet for you.

30 Terms

1

List the steps in the market research process (7 steps)

  1. Define research problem

  2. Determine research design

  3. Choose method to collect primary data

  4. Design sample

  5. Collect data

  6. Analyze and interpret data

  7. Prepare research report

New cards
2

tabulation

arranging data in a table or other summary form

New cards
3

cross-tabulation

exploring data through sub-groups

New cards
4

What are the demographic segmentation variables?

age, gender, family life cycle, income, social class, and ethnicity

New cards
5

target market

segments on which an organization focuses its marketing efforts

New cards
6

Phases of targeting

  1. Evaluate market segments

  2. Develop segment profiles

  3. Choose a targeting strategy

New cards
7

Internal company data

information generated from within the company, often through intranet and marketing dashboards

New cards
8

focus group

product-oriented among a small group of consumers led by a trained moderator

New cards
9

When is a focus group used?

during exploratory research

New cards
10

predictive technology

uses shopping patterns of a large sum of people to determine which products are likely to be purchased if others are

New cards
11

sales funnel

process through which a company finds, qualifies, and sells products to buyers

New cards
12

big data

describes the growth of structured/unstructured data

New cards
13

structured data

can be organized and formatted in an easy way for computers to understand; inserted into a database in seamless fashion

New cards
14

A/B test

compares performance of two versions of content to see which one appeals to more viewers/visitors

New cards
15

B2C

marketing targets individual consumers

New cards
16

B2B

marketing focuses on selling products/services to other businesses

New cards
17

family life cycle

means of characterizing consumers within a family structure on the basis of different stages which people pass as they grow older

New cards
18

perceptual map

visual representation of how consumers perceive a brand/product

New cards
19

behavioral segmentation

categorizes consumers based on how they act toward, feel about, or use a good

New cards
20

market basket analysis

data mining technique that identifies which items are often purchased together

New cards
21

data mining

process in which analysts identify unique patterns of behavior in big data

New cards
22
  1. Define research problem

specify objectives and identify interests of consumers

New cards
23
  1. Determine research design

secondary and primary research; “plan" of attack”

New cards
24
  1. Choose method to collect primary data

surveys and observations

New cards
25
  1. Design sample

probability sampling (simple, systematic, and stratified); non-probability sampling

New cards
26
  1. Analyze and interpret data

tabulation/cross-tabulation most frequently used method of analysis

New cards
27
  1. Prepare research report

Includes: executive summary, description of research methods, presentation of results, limitations of study, and conclusions/recommendations

New cards
28

List two examples of when and how internal company data may be used.

used to produce reports on sales and marketing activities; includes sales records

New cards
29

How might big data be used?

provides competitive advantage; delivers information efficiently and effectively; identifies new opportunities; turns insights into better products

New cards
30

A/B marketing is used during _______?

product development, digital marketing, and user experience optimization

New cards

Explore top notes

note Note
studied byStudied by 98 people
693 days ago
5.0(4)
note Note
studied byStudied by 241 people
678 days ago
5.0(2)
note Note
studied byStudied by 13 people
833 days ago
5.0(1)
note Note
studied byStudied by 52 people
787 days ago
5.0(1)
note Note
studied byStudied by 33 people
425 days ago
5.0(1)
note Note
studied byStudied by 9 people
169 days ago
5.0(2)
note Note
studied byStudied by 41 people
709 days ago
5.0(1)
note Note
studied byStudied by 100 people
760 days ago
5.0(2)

Explore top flashcards

flashcards Flashcard (112)
studied byStudied by 55 people
302 days ago
5.0(2)
flashcards Flashcard (198)
studied byStudied by 1 person
182 days ago
5.0(1)
flashcards Flashcard (24)
studied byStudied by 34 people
759 days ago
5.0(1)
flashcards Flashcard (47)
studied byStudied by 1 person
39 days ago
5.0(1)
flashcards Flashcard (137)
studied byStudied by 301 people
567 days ago
4.5(4)
flashcards Flashcard (308)
studied byStudied by 7 people
832 days ago
5.0(1)
flashcards Flashcard (35)
studied byStudied by 2 people
303 days ago
5.0(1)
flashcards Flashcard (334)
studied byStudied by 88 people
23 days ago
5.0(2)
robot