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Chapter 10
Marketing Research and Sales Forecast - Boone & Kurtz
35
Marketing
Undergraduate 3
07/29/2013

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Term
marketing research
Definition
Process of collecting and using information for marketing decision making
Term
syndicated service
Definition
Organization that provides standardized data on a periodic basis to its subscribers
Term
full-service research supplier
Definition
Marketing research organization that offers all aspects of the marketing research process
Term
limited-service research supplier
Definition
Marketing research firm that specializes in a limited number of research activities, such as conducting field interviews or performing data processing
Term
exploratory research
Definition
Process of discussing a marketing problem with informed sources both within and outside the firm and examining information from secondary sources
Term
sales analysis
Definition
In-depth evaluation of a firm's sales
Term
hypotesis
Definition
Tentative explanation for a specific event
Term
research design
Definition
Master plan for conducting market research
Term
secondary data
Definition
Previously published information
Term
primary data
Definition
Information collected for a specific investigation
Term
sampling
Definition
Process of selecting survey repondents or research participants
Term
population (universe)
Definition
Total group that researchers want to study
Term
probability sample
Definition
Sample that gives every member of the population a chance of being selected
Term
simple random sample
Definition
Basic type of probability sample in which every individual in the relevant universe has an equal opportunity of being selected
Term
stratified sample
Definition
Probability sample constructed to represent randomly selected subsamples of different groups within the total sample; each subgroup is relatively homogeneous for a certain characteristic
Term
cluster sample
Definition
Probability sample in which researches select a sample of subgroups (or clusters) from which they draw respondents; each cluster reflects the diversity of the whole population sampled
Term
nonprobability sample
Definition
Sample that involves personal judgement somewhere in the selection process
Term
convenience sample
Definition
Nonprobability sample selected from among readily available respondents
Term
quota sample
Definition
Nonprobability sample divided to maintain the proportion of certain characteristics among different segments or groups seen in the population as a whole
Term
interpretive research
Definition
Observational research method developed by social anthropologists in which customers are observed in their natural setting and their behavior is interpreted based on an understanding of social and cultural characteristics; also known as ethnography, or "going native"
Term
focus group
Definition
A small group of individuals brought together to discuss a specific topic
Term
controlled experiment
Definition
Scientific investigation in which a researcher manipulates a test group (or groups) and compares the results with those of a control group that did not receive the experimental controls or manipulations
Term
test market
Definition
Marketing research technique that involves introducing a new product in a specific area and then measuring its degree of success
Term
marketing information system (MIS)
Definition
Planned, computer-based system designed to provide managers with a continuous flow of information relevant to their specific decisions and areas of responsibility
Term
marketing decision support system (MDSS)
Definition
Marketing information system component that links a decision maker with relevant databases and analysis tools
Term
data mining
Definition
Processs of searching through customer databases to detect patterns that guide marketing decision making
Term
sales forecast
Definition
Estimate of a firm's revenue for a specified future period
Term
qualitative forecasting
Definition
UseĀ  of subjective techniques to forecast sales, such as the jury of executive opinion, Delphi technique, sales force composite, and surveys of buyer intentions
Term
quantitative forecasting
Definition
Use of statistical forecasting techniques such as trend analysis and exponential smoothing
Term
jury of executive opinion
Definition
Qualitative sales forecasting method that assesses the sales expectations of various executives
Term
Delphi technique
Definition
Qualitative sales forcasting method that gathers and redistributes several rounds of anonymous forcasts until the participants reach a consensus
Term
sales force composite
Definition
Qualitative sales forecasting method based on the combined sales estimates of the firm's salespeople
Term
survey of buyer intentions
Definition
Qualitative sales forecasting method that samples opinions among groups of present and potential customers concerning their purchasing plans
Term
trend analysis
Definition
Quantitative sales forecasting method that estimates future sales through statistical analyses of historical sales patterns
Term
exponential smoothing
Definition
Quantitative forecasting technique that assigns weights to historical sales data, giving the greatest weight to the most recent data
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