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Marketing Basics - Kotler Philip

Key Concepts in Chapter 3

Secondary data ? information that already exists somewhere, being previously collected for other purposes.

Sampling ? segment of the population, designed to personify the population as a whole.

Marketing inheritance ? systematic determination of the range of data required in connection with the marketing situation facing the company, their collection, analysis and report on the results.

Primary data ? Information collected for the first time for a specific purpose.

Marketing information system ? a permanent system of the relationship of people, equipment and teaching methods, designed to collect classification, analysis, evaluation and dissemination of relevant, timely and accurate information for use by marketing managers in order to improve planning, implementation and monitoring of marketing activities.

A system for collecting external marketing information ? a set of sources and teaching methods through which managers receive daily information about events taking place in a commercial environment.