Marketing Research
•the process of planning, collecting, and analyzing data relevant to a marketing decision
Marketing research
•everything, both favorable and unfavorable, that a person receives in an exchange
−Can be tangible or intangible, such as a service or idea
Product
•a marketing strategy that entails the creation of marketable new products; the process of converting applications for new technologies into marketable products
Product Development
the result of applying human or mechanical efforts to people or objects
Service
•treating employees as customers and developing systems and benefits that meet their needs
Internal Marketing
•determining what information is needed and how that information can be obtained efficiently and effectively
Marketing Research Problem
•a particular item for which consumers search extensively and are very reluctant to accept substitutes
Specialty Product
•Typically the longest stage of the PLC sustained through heavy consumer promotion
Maturity Stage
the variability of the inputs and outputs of services, which causes services to tend to be less standardized and uniform than goods
a tool to help marketers forecast future events and suggest appropriate strategies
Product Life Cycle
any sample in which little or no attempt is made to get a representative cross section of the population
Nonprobability Sample
when a product or company attempts to give the impression of environmental friendliness whether or not it is environmentally friendly
Greenwashing
•the first filter in the product development process, which eliminates ideas that are inconsistent with the organization’s new-product strategy or are obviously inappropriate for some other reason
Screening
•the gap between what customers want and what management thinks customers want
Gap 1
•the exponential growth in the volume, variety, and velocity of information and the development of complex, new tools to analyze and create meaning from such data
Big Data
A few advantages of this type of research are broader reach, richer content, immediate feedback, and cost savings
Mobile Research
−an unwritten guarantee that the good or service is fit for the purpose for which it was sold
Implied Waranty
Adopters who:
•Rely much more on group norms and values
•More oriented to their local community
•More likely than innovators to be opinion leaders because of their closer affiliation with groups
•Desire others’ respect, which they earn by sharing what they know
Early Adopters
organizations that are expected to provide equitable, effective, and efficient services that respond to the wants and preferences of multiple constituencies
Nonprofit Organizations
•adding additional products to an existing product line in order to compete more broadly in the industry
Product Line Extension
If you're looking to measure the success of coupons, displays, and pricing structure in a short period of time, which marketing research tool should be used
Scanner-based research
•a trademark for a service
Service Mark
Advertising and other promotional materials for a variety of products, including the test product, are shown to members of the product's target market. These people are then taken to shop at a mock store where purchases are recorded. This research is known as
Simulated market testing
The level of marketing referred to as customer intimacy
Level 3
New product category that allows a firm to enter an established market
New-Product Lines