Market Research Key Terms Chapter 1 - 10

Marketing

The process of creating and delivering value to customers and managing customer relationships to benefit the organization and stakeholders.

Crowdsourcing

Outsourcing tasks, such as idea generation or data collection, to a large group of people outside the organization, usually via digital platforms.

Marketing concept

The philosophy that achieving organizational goals depends on understanding the needs and wants of target markets and delivering better satisfaction than competitors.

Marketing strategy

The overall plan to reach prospective consumers and turn them into customers for the products or services offered.

Marketing research

The systematic process of designing, collecting, analyzing, and reporting information to solve specific marketing problems.

Market research

Research focused on specific markets or groups of customers, a subset of marketing research.

Function of marketing research

To connect consumers and the public to marketers through information for identifying problems/opportunities, evaluating actions, monitoring performance, and improving marketing as a process.

Basic research

Research conducted to expand general marketing knowledge, not aimed at solving a specific problem.

Applied research

Research aimed at solving a particular marketing problem or making a specific decision.

Marketing information system (MIS)

A structure of people, equipment, and procedures for gathering, sorting, analyzing, and distributing needed, timely, and accurate marketing information.

Internal reports system

MIS subsystem collecting data generated within a business (orders, billing, inventory, sales).

Marketing intelligence system

MIS subsystem for gathering everyday information about developments in the marketing environment.

Marketing decision support system (DSS)

MIS subsystem using collected data and analytical tools/models to support decision making.

Marketing research system

MIS subsystem for project-based research to provide data not available from other subsystems.

Client-side research

Marketing research conducted by employees within an organization.

Do-it-yourself (DIY) research

Research carried out directly by clients using accessible digital tools, without hiring external suppliers.

Supply-side research

Research supplied by outside agencies or supplier firms.

Supplier

A company providing marketing research services to others.

Agency

A marketing research firm or company that conducts research projects for clients.

Full-service supplier firms

Agencies offering a complete range of marketing research services.

Limited-service supplier firms

Agencies specializing in performing specific research tasks or phases.

GreenBook

A directory listing market research suppliers and services.

Blue Book

A directory similar to GreenBook listing research firms and resources.

Quirk's

An online directory and magazine for marketing research professionals.

Sugging

Selling under the guise of research—using marketing research as a front for sales.

Frugging

Fundraising under the guise of research—using research surveys to seek donations.

Transparency Initiative

Industry project encouraging clear, open communication about how research is conducted.

National Do Not Call Registry

Government registry preventing telemarketers from contacting listed phone numbers.

AAPOR

American Association for Public Opinion Research, a professional association for survey research.

Insights Association

U.S. marketing research industry association.

MRIA

Marketing Research and Intelligence Association (Canada), now defunct.

ESOMAR

Global organization for market, social, and opinion research professionals.

Professional Researcher Certification (PRC)

Industry credential indicating high standards of professionalism in marketing research.

11 steps in the marketing research process

A systematic sequence from establishing research need to communicating findings.

Field services firms

Companies specializing in data collection methods such as surveys or interviews.

Problems

Decisions requiring choice among alternatives, often cause research projects to begin.

Key performance indicator (KPI)

A quantifiable metric used to track progress toward key objectives.

Marketing opportunity

A circumstance offering the potential for marketing success.

Symptoms

Observable indications or signals of an underlying problem needing investigation.

Situation analysis

Reviewing environmental factors, background, and context to clarify the research problem.

Decision alternatives

The options available to decision makers in response to a marketing problem.

Problem statement

Formal articulation of the specific research problem.

Research objective

Clear, actionable statement describing what specific information is needed.

Hypotheses

Testable predictions or statements about relationships between variables.

Construct

An abstract concept measured by multiple variables.

Variables

Measurable traits or characteristics that change or vary within the research.

Action standard

Pre-determined rule specifying what action will be taken based on research outcomes.

Marketing research proposal

Written document outlining the research problem, objectives, methods, deliverables, costs, and timetable.

Invitation to bid (ITB)

Request for research suppliers to submit proposals for a specific project.

Request for proposal (RFP)

Solicitation from a client for research suppliers to propose solutions for a specific research need.

Research design

The master plan for collecting and analyzing necessary data to solve the research problem.

Exploratory research

Research to gain background information and clarify concepts or problems.

Experience surveys

Interviews with individuals knowledgeable about the general subject being investigated.

Key-informant technique

Gathering insights from people highly informed about the topic or market.

Lead-user survey

Research involving users who face needs earlier than the bulk of the market, often driving innovation.

Case analysis

In-depth examination of a few instances to gain broader understanding.

Descriptive research

Research to describe characteristics or functions of a population.

Cross-sectional studies

Studies measuring a snapshot of a population at one point in time.

Sample surveys

Structured measurement using a sample to estimate population parameters.

Longitudinal studies

Research tracking the same sample or population over time.

Panels

Groups of respondents measured repeatedly over time.

Continuous panels

Panels providing the same data on each measurement occasion.

Discontinuous panels

Panels measured at multiple times but with different data each time.

Omnibus panels

Panels measured on a wide variety of topics for multiple clients.

Brand-switching studies

Research tracking movement between brands over time.

Market-tracking studies

Continuous monitoring of market variables, such as sales or share.

Causal research

Research designed to identify cause-and-effect relationships.

Causality

The relationship in which one variable directly affects another.

Behavioral economics

Study of psychological influences on consumer decision making.

Experiment

Research where independent variables are manipulated to measure effects on dependent variables.

Independent variables

Factors manipulated by the researcher.

Dependent variables

Outcomes measured in response to independent variables.

Extraneous variables

Factors not under study but may influence research results.

Experimental design

Plan outlining which variables will be manipulated, measured, and controlled.

Before-after testing

Comparing measurements taken before and after an intervention.

Control group

Group not exposed to experimental treatment.

Experimental group

Group exposed to experimental treatment.

Pretest

Measurement taken prior to experimental intervention.

Posttest

Measurement taken following experimental intervention.

A/B testing

Simple experimental design comparing two alternatives.

Internal validity

The degree to which results can be attributed to experimental manipulations.

External validity

The degree to which results can be generalized to other contexts.

Laboratory experiments

Experiments conducted in a controlled indoor setting.

Field experiments

Experiments conducted in a natural setting.

Test marketing

Testing a new product or strategy in a limited geography before full launch.

Standard test market

Full marketing strategy implemented in select cities.

Controlled test markets

Test conducted with help from suppliers that manage distribution.

Simulated test markets

Virtual or laboratory market settings to estimate sales outcomes.

Big data

Massive and diverse datasets generated from multiple sources, analyzed for patterns.

Marketing analytics

Application of data and analysis to guide and improve marketing decisions.

Primary data

New information collected specifically for a current research project.

Secondary data

Existing data collected for another purpose but used in current research.

Internal secondary data

Data generated within a company such as sales or transaction records.

Database

Organized collection of data structured for easy access and analysis.

Record

A row of data in a database describing a single item (such as a customer).

Fields

Columns in a database representing data categories (e.g., age, address).

Internal databases

Electronic systems storing company-generated data.

Customer relationship management (CRM)

Management system to strengthen customer loyalty and relationships via internal databases.

Data mining

Analyzing large datasets to uncover patterns and insights.

Micromarketing

Using differentiated marketing mixes targeting specific segments or individuals.