Methods
The specific group of people you want to reach with your marketing message.
What is target segment or target market?
A subset of the population.
What is a Sample?
The process of gathering, analyzing and interpreting data to understand customer needs, preferences, and behaviors.
What is Marketing Research?
Nike utilizes marketing info management by paying close attention to customer dissatisfaction.
What is marketing?
"i'm lovin' it "
McDonalds.
A research method that collects data from a target audience by asking questions either online, by phone, in person, or in paper.
What is a Survey?
Information that comes from a company’s internal systems. Such as sales and human resources.
What is Internal Data?
Statement that predicts the outcome of a marketing campaign based on a specific variable and a measurable goal.
What is a Hypothesis?
Coca-Cola conducts surveys, focus groups, and customer feedback to directly gather data and information.
What is using primary data?
"The happiest place on earth"
Disneyland.
A market research method that involves a small group or people discussing and providing feedback for a product, service, or concept
What is a Focus Group?
Information that comes from outside a company. Such as government websites, and third party providers.
What is External Data?
A specific situation where management needs to choose a course of action to address a particular marketing challenge.
What is a Decision Problem?
Data which has already been collected and which comes from other sources.
What is secondary data?
"Think Different"
Apple.
Method of market research that uses numerical data to analyze consumers.
What is Quantitative Data?
Information that was collected for a different purpose but can be used in research. Such as tax records, and census data.
What is Secondary Data?
A statement of purpose that outlines a specific result to achieve within a dedicated time frame and available resources.
What is a Research Objective?
Spotify uses _____ like listening history, playlist creation, and song skills to generate highly personalized music recommendations.
What is internal data?
"Impossible is nothing"
Adidas.
Data that is descriptive information that provides insight to customers. Their feelings and meaning behind their behavior.
What is Qualitative Data?
Refers to original information collected directly from a source, like customers, for a research project.
What is Primary Data?
The specific entity or element that a researcher is studying and collecting data about.
What is Unit of Analysis?
Starbucks uses _______ by analyzing customer reviews and comments on their website, app, and social media platforms. They conduct discussions and interviews with customers.
What is qualitative data?
"Whats in your wallet"
Capital One.