Textbook Notes (362,837)
Canada (158,073)
BUS 343 (120)
Todd Green (11)

Bus 343 - Classnote 3.docx

3 Pages
Unlock Document

Simon Fraser University
Business Administration
BUS 343
Todd Green

BUS 343 September 27, 2010 Lecture 3 Chapter 4 Todd Green Marketing  Marketing: Procedure developed by a firm to continuously gather, sort, analyze, store and distribute Information relevant and timely marketing information to its managers System  3 components: Four types of data (internal data, marketing intelligence, marketing research, acquired databases), computer hardware and software, MIS experts  Internal Data: Internal records of sales such as quantity purchased  Intranet: An internal corporate communication network that links internet technology to company departments, employees and databases  Marketing Intelligence: A method by which marketers get information about everyday happenings in the marketing environment: newspapers, publications, observations  Scenarios: Possible future situations that futurists use to assess the likely impact of alternative marketing strategies  Marketing Research: The process of collecting, analyzing and interpreting data about customers, competitors, and the business environment to make a specific marketing decision: needed when unique information is required for specific decisions  Secondary Research: Research collected for a purpose other than the decision at hand  Syndicated Research: Research collected by firms who then sell to other firms (broad but shallow information)  Primary Research: Research conducted by or for a single firm to provide information for a specific marketing decision Marketing Decision Support  Marketing Decision Support Systems: The data analysis software that allows a manager to conduct Systems analyses  Asks “what-if” questions  Questions answered by the MIS is specific, whereas questions answered by the MDSS is yes/no  Data Mining: Complex analysis techniques to take advantage of the massive amount of transaction information available  Customer Acquisition  Customer Retention  Customer Abandonment  Market Basket Analysis Data Quality  Validity: The extent to which research actually measures what it was intended to measure  Reliability: The extent to which research measurement techniques are free of errors  Representativeness: The extent to which consumers in a study are similar to a larger group in which the organization has an interest  Sampling: Selecting respondents who statistically represent a larger population of interest Steps in the Marketing  Define the Problem Research Process  Specify the research objectives  Identify the consumer population of interest  Place the problem in an environmental context  Determine the Research Design: What information marketers will collect and what type of study to j perform  Secondary Data or Prima
More Less

Related notes for BUS 343

Log In


Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.