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UNIT DMARKETING
INFORMATION MANAGEMENT
7.02 Interpret information to make effective business
decisions.
2
Internal databases
Electronic collections of information obtained from data sources within the company.
• May be retrieved quickly
• Information may not be in line with what is needed.
3
Internal data sources
• Accounting– Financial documents– Sales records
• Customer service– Rain checks– Service problems– Customer follow-up
• Operations– Inventory levels– Production timetable
•Salespeople
-Competition
-Customer preferences
-Customer feedback
•Marketing
-Customer segmentation
-Buying patterns
4
Marketing intelligence
The systematic collection and analysis of publicly available information about competitors and developments in the marketing environment.
• Competitors investigate each other, often concurrently.
• Uses1. Provides forewarning of potential
opportunities and threats (SWOT analysis)
2. Improves decision making3. Helps trace competitors
5
Marketing intelligence (cont.)
• Sources of information1. Employees2. Internet research
• Company annual reports from web pages, electronic bulletin boards, or blogging
• Online databases– U.S. Patent Office– Dun & Bradstreet– Dow Jones News
Retrieval– Lexis-Nexis– Data Star
3. Trade shows4. Competitors’ products
6
Marketing research
The systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.
• Many large companies have their own research department. Both large companies and small companies hire outside research consultants.
7
Marketing research (cont.)
Steps in the research process
1. Define the problem and research objectives.
2. Develop the research plan.3. Implement the plan.4. Interpret and report the findings.
• Details on next slides
8
Marketing research (cont.)
1. Define the problem and research objectives.• Often the most difficult step• Recognizing that there is a problem
may be simple, but identifying the specific source of the problem may be hard.
• Managers must carefully define the dilemma and determine research objectives. Plans should be written down, as they will guide the entire research process.
9
Marketing research (cont.)
1. Define the problem and research objectives. (cont)• Three types of research
• Exploratory research: Marketing research to gather preliminary information that will help define problems and suggest hypotheses.
• Descriptive research: Marketing research to better describe marketing problems, situations, or markets, such as the market potential for a product or the demographics and attitudes of consumers.
• Casual research: Marketing research to test hypotheses about cause-and-effect relationships.
10
Marketing research (cont.)
Steps in the research process
2.Develop the research plan.• Outline the information needed.• Create a written plan for gathering
information.• Specify the type of data to collect.
• Secondary or primary• To be usable, data must be pertinent,
precise, current, and unbiased.
11
Marketing research (cont.)
Steps in the research process
3. Implement the plan.1. Most expensive stage in the research
process2. Putting the plan into action3. Includes collecting and processing data
1. Separate relevant data from clutter.2. Focus on the objectives established at the
beginning of the process.3. Check for precision and comprehensiveness.4. Derive statistical measure.
4. Interpret and report the findings.
12
Secondary data
Information that already exists, having been collected for another purpose.
• May be obtained quickly at a cheaper rate than primary data
• Needed information may not currently exist• Sources
– Government (SBA, stat-usa.gov, census.gov)– Commercial providers (Hoovers online,
demographics.com)– Outside suppliers– Commercial online databases: Computerized
collections of information available from online commercial sources or via the Internet. (Dialog and LEXIS-NEXIS)
13
Primary data
Information collected for the specific purpose at hand.
• Research approaches– Observational research– Survey research– Experimental research
Details on next slides
14
Primary data (cont.)
• Observational research: The gathering of primary data by observing relevant people, actions, and situations.– Monitors exterior reactions but fails to
yield an understanding of feelings, attitudes, and/or motives
– Ethnographics: Consumer research that reveals the unspoken cultural and social patterns that shape consumer behavior and attempts to capture these personal characteristics.
15
Primary data (cont.)
• Survey research: The gathering of primary data by asking people questions about their knowledge, attitudes, preferences, and buying behavior.– Flexible– Best suited for gathering
descriptive information
16
Primary data (cont.)
• Experimental research: The gathering of primary data by selecting matched groups of subjects, giving them different treatments, controlling related factors, and checking for differences in group responses.
17
Primary data (cont.)
• Contact methods1. Mail surveys2. Telephone interviews3. Personal interviews4. Online marketing research and
technology aided research
18
Primary data (cont.)
• Mail surveys– Can collect large amounts of data at a
low price– Response time may be slow for large
samples– No control over who responds– Percentage of return may be low
19
Primary data (cont.)
• Telephone interviews– Can collect data quickly– More accurate data because
interviewer can take time to clarify responses
20
Primary data (cont.)
• Personal interviewing– Individual interviewing: A one-to-one
interview conducted in the homes or offices of individuals, on the street, or in shopping malls.
– Focus group interviewing: Interview process that involves a trained moderator and 6 to 10 people invited to talk about a product, service, or organization.
21
Primary data (cont.)
• Online marketing research and technology aided research– Online marketing research: Collecting
primary data through Internet surveys and online focus groups.• Advantages are speed and lower costs.• Drawbacks are trying to get a reasonable sample
and reaching your desired market.– Computer-assisted telephone interviewing:
Collecting data by having interviewers sit at computers, read questions from the computer screen to a person over the telephone, and key in the person’s responses.
– Completely automated telephone surveys: Interviewing that utilizes computer initiated telephone calls and prerecorded questions.
22
Primary data (cont.)
• Sampling plans– Extract conclusions about a consumer
population by studying a segment or sample
– Sample: A segment of the population selected for marketing research to represent the population as a whole.
23
Primary data (cont.)
• Research instruments1. Questionnaires
• Allow use of open-ended questions, close-ended questions, or a combination
• Allow for ordering of the questions• Require unbiased wording
2. Mechanical devices• Meters to track input• Scanners such as those used in grocery
stores• Eye cameras that evaluate consumers’
eye movements and reactions END