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MKTG Exam 2 Chs 6 to 10

Population frame error an error that occurs when a

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population Frame Error: an error that occurs when a sample drawn from a population differs from the target population Cross-Tabulation: a method of analyzing data that lets the analyst look at the responses to one question in relation to the responses to one or more other questions LO 4: The Profound Impact of the Internet on Marketing Research Consumer-Generated Media (CGM): media that consumers generate and share among themselves Today, about 1/5 of the world’s population is online. In the US, 71% is online. Specific Advantages of Internet Surveys: 1. Rapid Development, Real –time reporting: 2. Dramatically Reduced Costs: 3. Personalized Questions and Data 4. Improved respondent participation 5. Contact with the hard-to-reach Advantages of Online Focus Groups: 1. Better participation Rates 2. Cost-effectiveness 3. Broad geographic scope 4. Accessibility 5. Honesty Consuer-Generated Media: LO 5: Scanner Based Research Scanner Based Research: a system for gathering information from a single group of respondents by continuously monitoring the advertising, promotions, and pricing they are exposed to and the things they buy. BehaviorScan : a scanner based research program that tracks the purchase of 3,000 households thgouth store scanners in each research market InfoScan: a scanner-based sales-tracking service for the consumer packaged goods industry Neuromarketing: a field of marketing that studies the body’s response to marketing stimuli LO 6: When should Marketing research be conducted? When managers have several possible solutions to a problem, they should not instinctively call for marketing research.
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LO 7: Competitive Intelligence Derived from military intelligence, competitive intelligence is an important tool for helping a firm overcome a competitor’s advantage. Competitive Intelligence (CI ): helps managers assess their competitors and their vendors in order to become more efficient and effective competitors. CH 10: Product Concepts LO1: Product: Everything, both favorable and unfavorable, that a person receives in an exchange LO 2: Business Product (Industrial Product): a product used to manufacture other goods or services, to facilitate an organization’s operations, or to resell to other customers. Consumer Product: a product bought to satisfy an individual’s personal wants Convenience Product: a relatively inexpensive item that merits little shopping effort Shopping Product: a product that requires comparison shopping because it is usually more expensive than a convenience product and is found in fewer stores Specialty Product: a particular item that consumers search extensively for and are very reluctant to accept substitutes Unsought Product: a product unknown to the potential buyer or a known product that the buyer does not actively seek LO 3: Product Item: a specific version of a product that can be designated as a distinct offering among an organization’s products Product Line: a group of closely related product items Product Mix: all products that an organization sells Product Mix Width:
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