Marketing Information Key Terms

Marketing Information

Key Terms

Multiple Choice

What is Marketing Information Management?

• Creating, pricing, promoting & distributing goods or services to consumers.

• Data collected from internal & external sources through research to support marketing decisions.

Multiple Select

Something that truly exists & can be proven is a(n):

• Fact

• Estimate

• Prediction

• Relationship

Let's Look at Some New Vocabulary

Types of collected data

Primary Data

Data obtained for the 1st time

Most expensive

More current & relevant to research

Secondary Data

Data that has ALREADY been collected by another source

Saves researcher time

Not as relevant/specific

Multiple Choice

Which represents primary data?

• Book in the library

• Phone survey to current customer

Multiple Choice

Which represents secondary data?

• Personal Observation

• Last years government census

Multiple Select

Check all the represent quantitative data:

• Green & Brown

• 7 years old

• 22 points

• Hard surface

• 56 inches in length

Internal Data

Data that comes from INSIDE your organization.

Budget Reports

Schedules

Call reports

Orders & shipping reports

Billing records

Sales reports

Customer complaints/requests

External Data

Data that comes from OUTSIDE your organization

Political/Government reports

Economy reports

Social Media

Legal

Fill in the Blank

Data collected for the 1st time

Fill in the Blank

Data that has already been collected

Fill in the Blank

data from INSIDE your organization