BUAD 332: Chapter 4
44 Cards in this Set
| Front | Back |
|---|---|
|
Companies need information about their: _ needs, _ environment, and _. CMC
|
Customer needs
Marketing environment
Competition
|
|
Marketing managers do not need _ _, they need _ _.
|
More information
Better information
|
|
Distribute marketing research informationto
_ _, 'anybody who has to make decisions', need information analyzedin such a way they can work with it and use it effectively to make goodmarketing decisions.
|
ad agencies
|
|
MIS
|
marketing information system
|
|
MIS consists of people, equipment, and _ to gather, sort, _, _, and _ needed, timely, and accurate information to marketing decision makers.
|
procedures
analyze, evaluate, distribute
|
|
MIS helps managers to
1. _ _ needs.
2. _ needed _
3. _ information
|
assess information needs
2. develop needed information
3. distribute information
|
|
A good MIS balances the information users would like against what they really need and whats _ to offer
|
feasible
|
|
Sometimes a company cannot provide the needed information because it is not available due to _ _
|
MIS limitations
|
|
MIS must decide whether the benefits of more information are...
|
worth the costs
|
|
Law of diminishing returns on information!
|
as you increase / invest more the returns decline
|
|
Electornic collections of information obtained from data sources within the company
|
Internal databases - within company
|
|
_ _: publicly available information about competitors, developments.. google, _ _ filed with SEC - isn't free.
|
Marketing intelligence - annual reports
|
|
_ _: systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation. Do a study to.... within your...
|
Marketing research
To answer a specific question within your company
|
|
Marketing research process (4 steps)
|
1. what is it we need to know
2. procedure to gather / plan
3. collecting data
4. interpretation
|
|
_ research: Gather preliminary information that will help define the problem and suggest hypotheses. Isn't designed to answer questions as much as it is designed to.... IE _ research.
|
Exploratory research
designed to raise possible answers
observational research is an example
|
|
_ _ - Describes things - market potential for a product, _, and _. _ are the most common method to obtain this.
|
Descriptive research
Demographics / attitudes toward a product
Surveys
|
|
Tests hypotheses about cause and effect relationships
|
Causal research
|
|
Developing the research plan: determining the exact information needed, making a plan to gather said information, presenting written plan to _.
|
management
|
|
Research plans outline:
sources of existing data - _ _
Specific research approaches - _, _, etc.
Contct methods - how to contact ppl
sampling plans - difference in poplation and _
instruments for data collection
|
census data
survey, observational
sample
|
|
Information that already exists somewhere; examples (3)
|
secondary data:
1. internal databases
2. commercial data services
3. government sources
|
|
Available more quickly and at a lower cost than primary data
|
secondary data
|
|
Secondary data must be _, _, current, and _
|
relevant, accurate, current, impartial
|
|
Neilson tv ratings
|
commercial data services
|
|
Must determine four thjings for primary data collection
|
research approach, contact methods, sampling plan, research instruments
|
|
Advantages of creating your own data? disadvantages?
|
get exactly what you want
BUT its expensive and time consuming
|
|
People meters and checkout scanners
|
mechanical observation
|
|
Observation in a natural environment
|
Ethnographic research
|
|
PPM
|
measures how many people are listening or watching.
|
|
Approach best suited for gathering descriptive information
|
survey research
|
|
Can gather information about people's knowledge, attitudes, preferences, and _ _
|
buying behavior
|
|
You can't observe _ _, so that's why surveys are useful.
|
attitudes and preferences
|
|
_ studies - how well did the product perform relative to one's epxectations
|
satisfaction studies
|
|
In experimental research you control _ factors
|
unrelated factors - put them in a movie theater - time consuming / expensive
|
|
Experimental research criteria (4)
|
selected matched groups of subjects.
2. giving different treatments
3. controlling unrelated factors
4. checking differences in group responses
|
|
Speed of data colelction and cost efficient?
|
online info gathering
|
|
Control of sample is _ online
|
poor
|
|
Control of sample is excellent on _
|
telephone
|
|
contact methods
|
mail, telephone, personal, online
|
|
3 DECISIONS FOR A SAMPLE
|
Who, how many, how?
|
|
_- measures any physiologicalarousal to certain things
_ _- the extent to which your looking at advertisers online
|
Galvanometer
eye cameras
|
|
Low profit customers receive.... Higher profitable get more....
This is what _ focuses on
|
inexpensive attention
rewards, gifts
Customer relationship management
|
|
_- available only internally to thecompany
|
INtranets
|
|
Information for special situations
|
non routine
|
|
Information for decision making
|
routine
|
BUAD 332: Exam 1