MARK3000 Test 2 – Grantham Exam Questions and Answers 2024
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Module
MRKT3000
Institution
MRKT3000
marketing research - A set of techniques and principles for systematically collecting, recording, analyzing, and interpreting data that can aid decision makers involved in marketing goods, services, or ideas.
secondary data - Pieces of information that have already been collected from other sour...
MARK3000 Test 2 – Grantham Exam
Questions and Answers 2024
marketing research - A set of techniques and principles for systematically collecting,
recording, analyzing, and interpreting data that can aid decision makers involved in
marketing goods, services, or ideas.
secondary data - Pieces of information that have already been collected from other
sources and usually are readily available.
primary data - Data collected to address specific research needs.
sample - A group of customers who represent the customers of interest in a research
study.
data - Raw numbers or facts.
information - Organized, analyzed, interpreted data that offer value to marketers.
syndicated data - Data available for a fee from commercial research firms such as
Information Resources Inc. (IRI), National Purchase Diary Panel, and ACNielsen.
scanner data - A type of syndicated external secondary data used in quantitative
research that is obtained from scanner readings of UPC codes at check-out counters.
MARK3000 Test 2 - Grantham
, MARK3000 Test 2 - Grantham
panel data - Information collected from a group of consumers.
data warehouses - Large computer files that store millions and even billions of pieces of
individual data.
data mining - The use of a variety of statistical analysis tools to uncover previously
unknown patterns in the data stored in databases or relationships among variables.
churn - The number of consumers who stop using a product or service, divided by the
average number of consumers of that product or service.
big data - data sets that are too large and complex to analyze with conventional data
management and data mining software
qualitative research - Informal research methods, including observation, following social
media sites, in-depth interviews, focus groups, and projective techniques.
quantitative research - Structured responses that can be statically tested to confirm
insights and hypotheses generated via qualitative research or secondary data.
observation - An exploratory research method that entails examining purchase and
consumption behaviors through personal or video camera scrutiny.
virtual community - online networks of people who communicate about spefic topics
sentiment mining - Data gathered by evaluating customer comment posted through
social media sites such as Facebook and Twitter
MARK3000 Test 2 - Grantham
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