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17 Cards in this Set

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Marketing Decision Support System (DSS)
Used for gathering marketing information

-Interactive
-Flexible
-Discovery-oriented
-Accessible
-Great for problem solving
Database Marketing
Using (DSS) to create a large computerized file of customers' and potential customers' profiles and purchase patterns.
Marketing Research
The process of planning, collecting, and analyzing data relevant to a marketing decision.
-Findings of marketing research become data in a (DSS)
Roles of Marketing Research
Marketing Research is...

-Descriptive (Gathering/presenting)
-Diagnostic (Explaining data)
-Predictive (What if questions)
Management uses of marketing research
Marketing research...

-Improves quality of decision making
-Helps trace problems
-Keep customers
-Learn market trends
-Perceived value of goods
-Gauge customer satisfaction
How can managers improve the quality of their decision making?
By using market research to explore the desirability if various marketing alternatives
Use of marketing research
How can marketing research help managers avoid problems?
Marketing research can evaluate sales response to a management decision
Management use of marketing research
How does customer retention help a company?
-Repeat sales and referrals
-More revenue (more market share)
-Lower cost
-Increased employee job satisfaction
Use of marketing research
How can management use marketing research to learn marketing trends?
Can be used to research what is going on in the marketplace and take advantages of opportunities
Use of marketing research
Why marketing research?
- Improve quality of decision making
-Trace problems
-Focus on keeping existing customers
-Understand marketplace changes
Define marketing research process
A scientific approach to decision making that maximizes the chance of getting accurate and meaningful results.
Order of the Marketing Research Process
1. -I.D. problem or opportunity
2. -Plan how to research the data
3. -Specify sampling procedure
4. -Collect data
5. -Analyze data
6. -Prepare and present report
7. -Follow up
7 step process
Marketing Research Problem
-Information oriented
-Determines what information is needed
-How can data be obtained
Determining what information is needed and how that information can be obtained effectively and efficiently
Marketing Research Objective
To provide insightful decision-making information
The specific information needed to solve a marketing research problem; the objective should be to provide insightful decision-making information
Management Decision Problem
-Action oriented
-Broad in scope
-More general than marketing research problems
A broad-based problem that uses marketing research in order for managers to take proper actions
Secondary Data
Data previously collected for any purpose other than the one at hand
Uses

-Help formulate problem statement
-Proper subjects of research
Marketing Research Aggregator
A company that acquires, catalogs, reformats, segments, and resells reports already published by marketing research firms
Think of as a compilatio