Introduction, Overview of Marketing Research Process (2) Flashcards Preview

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Flashcards in Introduction, Overview of Marketing Research Process (2) Deck (13)
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1

How can a firm know what consumers need?

Marketers need data to know how customers feel about products, to understand customer buying behaviors, or to identify opportunities.

2

Marketers need _______ to know how customers feel about products

data

3

Marketeers need data to...

- know how customers feel about products
- understand customer buying behaviors,
- to identify opportunities.

4

Marketers need data to _______ opportunities.

identify

5

When accurate and current customer data exist, marketers can ______ them to better compete.

exploit

6

Why would a marketer want to use customer data?

to better compete

7

Customer data must be _______ and _______.

accurate, current

8

Whats the problem with finding customer data?

the problem is that the data that could reveal these customer insights often aren’t found in company databases and sometimes may not even exist.

9

What should a marketer do when customer insights aren't found in company databases?

In these instances, marketers need to get the information from customers, so the marketing team conducts marketing research.

10

What is marketing research?

Marketing research is the process of collecting and analyzing information from and about consumers to influence marketing strategy and decisions.

11

Marketing research is the process of _______ and ________ information from and about _______ to influence marketing strategy and decisions.

collecting, analyzing, consumers

12

What are the 4 steps of the marketing research process?

Step 1. Gaining Consumer Insight
Step 2. A Focus on Exploratory Research
Step 3. A Focus on Conducting Surveys
Step 4. Final Marketing Research Thoughts

13

Organize the steps

1. Final Marketing Research Thoughts
2. A Focus on Conducting Surveys
3. Gaining Consumer Insight
4. A Focus on Exploratory Research

Step 1. 3
Step 2. 4
Step 3. 2
Step 4. 1