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Chapter 8: Information Gathering and Processing in Retail

1. The document discusses various terms related to information gathering and processing in retail, including data-base management, data mining, data warehousing, electronic data interchange, experiments, internal and external secondary data, issue definition, marketing research process, micromarketing, mystery shoppers, sampling techniques, and observation. 2. Key elements of a retail information system include gathering, integrating, applying, and storing information related to specific areas, as well as anticipating the information needs of managers. 3. Different techniques are used to collect primary and secondary data to address specific issues, including surveys, simulations, and semantic differentials.

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72 views

Chapter 8: Information Gathering and Processing in Retail

1. The document discusses various terms related to information gathering and processing in retail, including data-base management, data mining, data warehousing, electronic data interchange, experiments, internal and external secondary data, issue definition, marketing research process, micromarketing, mystery shoppers, sampling techniques, and observation. 2. Key elements of a retail information system include gathering, integrating, applying, and storing information related to specific areas, as well as anticipating the information needs of managers. 3. Different techniques are used to collect primary and secondary data to address specific issues, including surveys, simulations, and semantic differentials.

Uploaded by

Dyla Rafar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Chapter 8: Information Gathering and Processing in Retail

Study online at quizlet.com/_2npanw

1. Data-base Procedure a retailer uses to gather, 15. Primary Those collected to address the specific issue
Management integrate, apply, and store info related to Data or problem under study.
specific subject areas. It is a key element in
16. Probability Approach whereby every store, product, or
a retail info system.
(random) customer has an equal or known chance of
2. Data Mining Involves the in-depth analysis of Sampling being chosen for study.
information so as to gain specific insight
17. Retail Anticipates the information needs of managers;
about customers, product categories,
Information collects, organises, and stores relevant data on
vendors and so forth.
System a continuous basis.
3. Data Advance in database management whereby
18. Secondary Those gathered for purpose other than
Warehouse copies of all the data bases in a company
Data addressing the issue or problem currently
are maintained in one location and
under study.
accessible to employees at any location
19. Semantic Disguised or non disguised survey technique
4. Electronic Data Lets retailers and suppliers regularly
Differential whereby a respondent is asked to rate one or
Interchange exchange information through their
more retailers on several criteria; each criterion
(EDI) computers with regard to inventory levels,
is evaluated along a bipolar adjective scale.
delivery times, unit sales, and so on, of
particular items. 20. Simulation Type of experiment whereby a computer
program is used to manipulate the elements of
5. Experiment Type of research in which one or more
a retail strategy mix rather than test them in a
elements of a retail strategy mix are
real setting.
manipulated under controlled condition.
21. Survey Research technique that systematically gathers
6. External Available from sources outside a firm.
information from respondents by
Secondary
communicating with them.
Data
22. Universal ...
7. Internal Available within a company, sometimes
Product
Secondary from the at a bank of a retail information
Code
Data system.
8. Issue (problem) Step in the marketing research process that
Definition involves a clear statement of the topic to
be studied.
9. Marketing Collection and analysis of information
Research in relating to specific issues or problems
Retailing facing a retailer.
10. Marketing Embodies a series of activities: defining the
Research issue, examining secondary data,
Process generating primary data, analyzing data,
making recommendations, and
implementing findings.
11. Micromarketing Application of data mining whereby the
retailer uses differentiated marketing and
focused strategy mixes for specific
segments, sometimes fine-tuned for the
individual shopper.
12. Mystery People hired by the retailers to pose as
Shoppers customers and obsess their operations.
13. Non- Approach in which stores, products, or
probability customers are chosen by the researcher
Sampling based on judgement or convenience.
14. Observation Form of research in which present behavior
or the results of past behavior are
observed and recorded.

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