marketing key terms

Causal research

research that focuses on cause and effect and test theories of “what if”

conclusive research

“we need to make a final decision” Decision focused goals, reliable enough to act on (finial decision)

Descriptive Research

research that gathers specific info related to the identified issue, situation, or concern

exploratory research

research that collects info to help business define issues, situation, or concern, decides how to proceed with its research.

qualitive data

facts and figures based on opinions and personal interpretations

external data

facts and figures available in locations outside the company

quantitative data

numerical facts and figures

decision problem

basic issue that managers are facing; the reason they believe marketing research in necessary

predictive research

research used to help business forecast future business developments

discovery oriented decision problem

decision problem aimed at answering what or why

primary data

facts collected specifically for the problem or project at hand

research objective

formal statement of what a marketing research study will achieve

research problem

question that asks what needs to be done to solve a decision

secondary data

facts and figures that have been collected for purposes other than the project at hand

strategy oriented decision problem

a decision problem aimed at answering how or which.

causal design

research that identifies cause and effect relationship between two variables

descriptive design

research that gathers specific info related to the identified issue, situation, or concern

exploratory design

research that collects info to help the business define its issue, situation, or concern

research design

master plan detailing how research will be carried out; identifies types of data needed, how much data to collect, where to find the data, what data collection methods to use, and how data will be analyzed