Marketing Research

A set of flashcards covering key concepts from the lecture on marketing research, including definitions and important methodologies.

Marketing Research

The process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions.

Customer Insights

Understanding of customers and the marketplace that serves as the basis for creating customer value, competitive advantage, and relationships.

Exploratory Research

Research that clarifies the scope and nature of a marketing problem or opportunity.

Descriptive Research

Research that describes basic characteristics of a given population or clarifies its usage and attitudes.

Causal Research

Research that identifies cause-and-effect relationships among variables.

Secondary Data

Information that has been gathered previously and may be relevant to the current marketing problem.

Primary Data

Facts and figures newly collected for the project.

Qualitative Methodology

Methodology that involves the use of words, as in focus groups or observations.

Quantitative Methodology

Methodology that involves the use of numbers, such as surveys.

Metrics

Numerical data that is collected and grouped to track performance.

Net Promoter Score (NPS)

A metric that measures customer loyalty by asking how likely they are to recommend a company.

PIPEDA

Personal Information Protection and Electronic Documents Act, a Canadian regulation for privacy.

Digital Tools

Technologies used for marketing, such as social media, discussion forums, and data analysis.

Public Engagement

A process that provides opportunities for greater public input, going beyond interest groups.

Sampling

A method used to generalize research results from a sample to a larger population.

Competitive Product Advantage

The unique strengths that enable a company to outperform its competitors.

Research Objectives

Specific, measurable, and achievable goals that the decision maker seeks to achieve in research.

Storytelling in Marketing

Using narrative techniques to convey marketing messages effectively.