Managing marketing information

marketing fundamentals -- part 4 -- terms

Marketing information system (MIS) -- people, equipment, and procedures to gather, store, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers
internal databases -- electronic collections of information obtained from data sources within the company
marketing intelligence -- the systematic collection and analysis of publicly available information about competitors and developments in the marketing environment
marketing research -- the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization
exploratory research -- marketing research to gather preliminary information that will help to find problems and suggest hypotheses
descriptive research -- marketing research to better described marketing problems, situations, or markets, such as the market potential for product or the demographics and attributes of consumers
casual research -- marketing research to test hypotheses about cause and effect relationships
secondary data -- information that already exists somewhere, having been collected for another purpose
primary data -- information collected for the specific purpose at hand
online databases -- computerized collections of information available from online commercial sources or via the net
observational research -- the gathering of primary data by observing relevant people, actions, and situations
survey research -- the gathering of primary data by asking people questions about their knowledge, attitudes, preferences, and buying behavior
single-source data systems -- electronic monitoring systems that link consumers exposure to television advertising and promotion (measured using television meters) with what they buy in stores (measured using stores checkout scanners)
experimental research -- the gathering of primary data by selecting matched groups of subjects, giving them different treatments, controlling related factors, and checking for differences in group responses
focus group interviewing -- personal interviewing that involves inviting 6 to 10 people to gather for a few hours with a trained interviewer to talk about a product, service, or organization. The interviewer focuses the group discussion on important issues
online (Internet) marketing research -- collecting primary data through Internet surveys and online focus groups
sample -- a segment of the population selected for marketing research to represent the population as a whole
customer relationship management (CRM) -- managing detailed information about individual customers and carefully managing customer "touch points" in order to maximize customer loyalty