constraints
in a decision, the restrictions placed on potential solutions to a problem.
data
the facts and figures related to the problem that are divided into two main parts: secondary data and primary data.
data mining
the extraction of hidden predictive information from large databases to find statistical links between consumer purchasing patterns and marketing actions.
decision
a conscious choice from among two or more alternatives.
information technology
involves operating computer networks that can store and process data.
marketing research
the process of defining a marketing problem and opportunity systematically collecting and analyzing information, and recommending actions.
measures of success
criteria or standards used in evaluating proposed solutions to the problems.
observational data
facts and figures obtained by watching, either mechanically or in person, how people actually behave.
primary data
facts and figures that are newly collected for the project.
questionnarie data
facts and figures obtained by asking peple about their attitudes, awareness, intentions, and behaviors.
sales forecast
the total sales of a product that a firm expects to sell during a specified time period under specified environmental conditions and its own marketing effort. Also called a company forecast.
secondary data
facts and figures that have already been recorded before the project at hand.