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Flashcards

MARS601

Brooke Edwards English 5.0Average rating 5.0 out of 5 (1 rating) 34 cards

Cards in this deck (34)

  1. 1Marketing defintionactivity, set of institutions and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large
  2. 2Marketing strategyselecting a segment of the market as the company's target market and designing the proper "mix" of the 4 Ps to meet the wants and needs of the consumers within the target market
  3. 3MARS researchprocess of designing, gathering, analysing and reporting information that may be used to solve a specific MARS problem
  4. 411 Step Research Process1. establish the need for research
    2. define the problem
    3. establish R.O.
    4. determine research design
    5. identify information sources
    6.determine methods of accessing data
    7. design data collection
    8. determine sample plan and size
    9. collect data
    10. analyse data
    11. prepare and present final report
  5. 5HypothesisR.O. worded as a statement that can be proven or disproven
  6. 6Databases for MARSRoy Morgan
    Nielsen Market Information Digest
    Nielsen Television Audience Measurement
    Passport
    Marketline Advantage
    Factiva
    Business Source Complete
    Statistics NZ
  7. 7Big Datalarge amounts of data from multiple sources
  8. 8Internal secondary datacollected within the firm (sales records, purchase requisitions and invoices)
  9. 9Database Marketingbuilding, maintaining customer (internal) databases and other (internal) databases for contacting, transacting and building relationships eg data mining
  10. 10Internal databasesinformation gathered by a company, typically during the course of normal business transactions
    Used for CRM
  11. 11Data-miningsoftware that helps managers make sense out of seemingly senseless masses of information in databases
  12. 12Social Media Monitoringopportunity to listen and learn
    gain insight into sonsumers
    Google Analytics, Facebook Insights, Nielsen
  13. 13Social Media DataUser Generated Content (UGC) = info created by by users of online systems and intended to be shared with others
  14. 14Sentimentratio of positive to negative comments posted about brands and products on the web
  15. 15Uses of Social Media Data- consumers provide reviews
    - consumers provide tips
    - new uses of the of the product
    - news about competitors
  16. 16Focus Group- 6-12 people
    - one way mirror for client viewing
    - moderator, responsible for creating correct atmosphere, guides discussion
  17. 17Objectives of a focus group- generate ideas
    - understand consumer vocabulary
    - reveal consumer motives, perceptions, attitudes about products/services
  18. 18Interview Guide- NOT a questionnaire
    - questions and issues you can bring up
    - can be raised in any order depending ho the conversation flows
  19. 19Observation Techniques for Focus groups1. Direct
    2. Indirect
    3. Covert
    4. Overt
    5. Structured
    6. Unstructered
  20. 20Surveys (what you learn)1. past behaviour of respondent
    2. characteristics (demo, psycho)
    3. "attitudes" of respondent
  21. 214 types of data1. nominal
    2. ordinal
    3. interval
    4. ratio
  22. 22Likert Scaleindicates to which degree of agreement or disagreement on a symmetric scale
  23. 23Semantic Differential Scaleseries of bipolar adjectives for the various properties of the object under study and respondents indicate their impressions of each property along its continuums
  24. 24Correlationmutual relationship or connection between two of more things
  25. 25Causalityrelationship between cause and effect
    - a change in one variable is the cause of the change in the values of the other variable
  26. 26Mode Median MeanMost common value (Nominal Scale)
    Middle value (Ordinal Scale)
    Arithmetic Average (Interval or Ratio Scales)
  27. 275 ways Big Data can be useful1. Creating transparency
    2. Enabling experimentaion to discover needs, expose variability and improve performance
    3. Segmenting populations to customise actions
    4. Replacing/supporting human decisoin making with automated algorithms
    5. Innovating new business models, products and services
  28. 28Techniques to analyze Big DataA/B Testing
    Data-mining
    Crowd-sourcing
    Optimization
    Spatial Analysis
  29. 29Advantages of surveys1. provides standardisation
    2. easy to administer
    3. gets "beneath the surface"
    4. easy to analyse
    5. reveals subgroup diferences
  30. 30Cross-sectional surveymeasures units from a sample at one point in time
    "snapshot of a population"
  31. 31Longitudemeasure the same sample units over a period of time repeatedly
    "movies of the population"
  32. 32Personal v Telephone interviewfeedback
    rapport
    quality control
    adaptability
  33. 33Advantages of Internet surveyspeedy
    low-cost
    real-time access of data
    diagrams, picture, displays
  34. 34Errors in survey wordings- no leading questions
    - no "loaded" wording or phrasing
    - no "double barrelled" questions
    - no overstated questions

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Description
Flashcards on MARS601, created by Brooke Edwards on 23/10/2017.
Created by
Brooke Edwards
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Average rating 5.0 out of 5 (1 rating)

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