Marketing Research, Chapter 1

The application of the scientific method in searching for the truth about marketing phenomena. These activities include defining marketing problems, generating and evaluating marketing ideas, monitoring performance, and understanding the marketing process.

Research conducted to address a specific marketing decision for a specific firm or organization.

Research conducted without a specific decision in mind that usually does not address the needs of a specific organization. It attempts to expand the limits of marketing knowledge in general and is not aimed at solving a particular pragmatic problem.

The way researchers go about using knowledge and evidence to reach objective conclusions about the real world.

Describes a firm that prioritizes decision-making in a way that emphasizes technical superiority in the product.

Describes a firm that prioritizes efficiency and effectiveness of the production processes in making decisions

A central idea in modern marketing thinking that focuses on how the firm provides value to customers more than on the physical product or production process

The corporate culture existing for firms adopting the marketing concept. It emphasizes customer orientation, long-term profitability over short-term profits, and a cross-functional perspective

Describes a firm in which all decisions are made with a conscious awareness of their effect on the consumer

Communicates the idea that a major goal of marketing is to build long-term relationships with the customers contributing to the firm's success

A business philosophy that has much in common with the marketing concept

Refers to information describing the demographic profile of consumers in a particular geographic region

Involves finding the amount of monetary sacrifice that best represents the value customers perceive in a product after considering various market constraints

A network of interdependent institutions that perform the logistics necessary for consumption to occur

Another term for a channel of distribution, meaning the link between suppliers and customers