a
the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions
Market research
facts and figures that have already been recorded prior to the project at hand
secondary data
facts and figures newly collected for the project
primary data
facts and figures obtained by watching, either mechanically or in person, how people actually behave
observational data
informal sessions of 6 to 10 past, present, or prospective customers in which a discussion leader, or moderator, asks for opinions about the firm's products and those of its competitors, including how they use these products and special needs they have that these products don't address
focus groups
the extraction of hidden predictive information from large databases to find statistical links between consumer purchasing patterns and marketing actions
data mining
a method of presenting and analyzing data involving two or more variables to discover relationships in the data
cross tabulation
type of research that tries to determine the extent to which the change in one factor changes another one
casual
criteria or standards used in evaluating proposed solutions to the problem
measures of success
selecting a group of distributors, customers, or prospects, asking them questions, and treating their answers as typical of all those in whom they are interested
sampling
an exploratory research technique in which trained researchers ask questions, listen to and record the answers, and then pose additional questions to clarify or expand on a particular issue
depth interview
The total sales of a product that a firm expects to sell during a specified time period under specified environmental conditions and its own marketing efforts.
sales forecast
Large amounts of data from a variety of sources, analyzed with sophisticated technology
Big data
Presentation of the results of a data analysis
data visualization
provides ideas about a vague problem or question
generally involves trying to find the frequency with which something occurs or the extent of a relationship between two factors
descriptive research
2021 NFL MVP
Aaron Rodgers
Piletz definition of market research
The process of answering "why?" And "what now?"
Piletz names 6 benefits of market research for companies. Correctly list 2 of them
List the 5-step marketing approach
1. Define the problem
2. Develop the research plan
3. Collect relevant information
4. Develop findings
5. Take marketing actions
Uses a combination of data, tech, and analytics to convert data into useful info that will answer marketing questions
Intelligent Enterprise
NFL 2014 passing TDs leader
Andrew Luck