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ch 8 marketing

Terms

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5 steps in the marketing decision process
1. define the problem
2. develop the research plan
3. collect relevant info by specifying
4. develop findings
5. take marketing actions
probability sampling
involves using precise rules to select the sample such that each element of the population has a specific known chance of being selected
nonprobability sampling
using an arbitray judgments to select the sample sot the chance of selecting a particular element may be uknown of zerol
statistical inference
drawing conclusions about a population from a sample taken from that population
primary data
observational, questionairre, survey, interview, focus groups
secondary data
internal-data collected within a firm
external-data from an outside organization
panel-
a sample of consumers or stores from which researchers take a series of measurements
experiments
obtaining data by manipulation factors under tightly controlled conditions to test cause and effect
adv. of primary vs secondary
primary ->more specific
secondayr -> time saver, low cost
data mining
the extraction of hidden predictive information from large databases

Deck Info

10

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