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MKTG Exam 2 Study Guide COLORS

Changing consumers perceptions of a brand in relation

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= changing consumers’ perceptions of a brand in relation to competing brands Chapter 9: Decision Support Systems and Marketing Research - Accurate and timely information is the lifeblood of marketing decision making Marketing information = everyday information about developments in the marketing environment that managers use to prepare and adjust marketing plans Decision Support System (DSS) = an interactive, flexible, computerized information system that enables managers to obtain and manipulate information as they are making decisions (Managers access to data) Database Marketing = the creation of a large computerized file of customers’ and potential customers’ profiles and purchase patterns (**usually the key tool to successful one-to-one marketing) The Role of Marketing Research Marketing research = the process of planning, collecting, and analyzing data relevant to a marketing decision (this information is then passed to management) (Mktg research links the consumer, customer, and public to the marketer through information) (findings become data in a DSS) Steps in a Marketing Research Project Marketing research problem = determining what information is needed and how that information can be obtained efficiently and effectively
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Marketing research objective = 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 ; a broad-based problem that uses marketing research in order for managers to take proper actions (EX: for Pantene, theirs was deciding how to win women back after the recession) Secondary Data = data previously collected for any purpose other than the one at hand Marketing research aggregator = a company that acquires, catalogs, reformats, segments, and resells reports already published by marketing research firms (industry is $120Million growing 6% annually) Research Design = specifies which research questions must be answered, how and when the data will be gathered and how the data will be analyzed (typically project budget is finalized after research design has been approved) Primary Data = information that is collected for the first time; used for solving the particular problem under investigation Survey Research = the most popular technique for gathering primary data; A researcher interacts with people to obtain facts, opinions and attitudes Mall intercept interview = a survey research method that involves interviewing people in the common areas of shopping malls (interviewers must be brief) Computer-assisted personal interviewing = an interviewing method in which the interviewer reads questions from a computer screen and enters the respondent’s data directly into the computer Computer-assisted self-interviewing = an interviewing method in which a mall interviewer intercepts and directs willing respondents to nearby computers where each respondent reads questions off a computer screen and directly keys his or her answer into a computer Central-location telephone (CLT) facility
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