1 / 19

Marketing Research

Marketing Research. Aaker, Kumar, Day and Leone Tenth Edition Instructor’s Presentation Slides. Chapter One. A Decision Making Perspective on Marketing Intelligence. http://www.drvkumar.com/mr10/. Market Research. Business Intelligence.

Download Presentation

Marketing Research

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Marketing Research Aaker, Kumar, Day and Leone Tenth Edition Instructor’s Presentation Slides

  2. ChapterOne A Decision Making Perspective on Marketing Intelligence http://www.drvkumar.com/mr10/

  3. http://www.drvkumar.com/mr10/ Market Research

  4. http://www.drvkumar.com/mr10/ Business Intelligence • BI is the ability to access data from multiple sources within an organization and deliver it to business users for analysis • It links the disparate operational systems to the end users of the data, thus creating an environment with free flow of information • It offers a reliable barometer of business performance • It helps to analyze what is behind trends and anomalies in the business

  5. Business Intelligence .................... Management Intelligence Marketing Intelligence Accounting Intelligence Financial Intelligence Customer Relationship Marketing/ Database Marketing Marketing Research Primary Sources Secondary Sources Standardized Sources Provide data on Prospects Customers Competition Products/Markets http://www.drvkumar.com/mr10/ Business Intelligence

  6. http://www.drvkumar.com/mr10/ What is Marketing Intelligence? Market intelligence (MI) is, “the process of acquiring and analyzing information in order to understand the market (both existing and potential customers); to determine the current and future needs and preferences, attitudes and behavior of the market; and to assess changes in the business environment that may affect the size and nature of the market in future.” - Cornish S. L

  7. http://www.drvkumar.com/mr10/ Need for Marketing Intelligence • Producers have little direct contact with consumers (geographical distance and channel layers). • Channel has little knowledge about customer attitudes, preferences and changing tastes. • Need to understand competition, without spying on them. • Management goals involve sales targets and market share achievement. • Need to identify successful new product developments early in the process to ensure growth and revenue maximization by finding a balance between costs and prices of products.

  8. http://www.drvkumar.com/mr10/ Domains of Marketing Intelligence Brand and Pricing decisions Keeping stakeholders happy Product Decisions Market estimation, competitive bench- Marking & distribution Customer Segmentation decisions

  9. http://www.drvkumar.com/mr10/ Marketing Research • Marketing Research, a critical part of Marketing Intelligence helps by providing accurate, relevant and timely (ART) information • Links consumer, customer, and public to the marketer through information used to: • Identify and define marketing opportunity and problems • Generate, redefine and evaluate marketing actions • Monitor marketing performance • Improve understanding of marketing as a process • (from AMA’s official definition of Marketing Research)

  10. http://www.drvkumar.com/mr10/ Role of Marketing Research in Managerial Decision Making Four Stages of Market Planning Process • Situation analysis • Strategy development • Marketing program development • Implementation

  11. http://www.drvkumar.com/mr10/ Marketing Planning Process Situation Analysis • Understand the environment and the market • Identify threats and opportunities • Assess the competitive position • Define the business scope and • market segments served • Establish competitive advantages • Set performance objectives Strategy Development • Product and channel decision • Communication decisions • Pricing • Personal selling decisions Marketing Program Development • Performance monitoring • Refining strategies and program Implementation

  12. http://www.drvkumar.com/mr10/ Situation Analysis Analysis of • Market environment • Market characteristics • Consumer behavior Research Approaches • Organize information obtained from prior studies (secondary) • Focus groups

  13. http://www.drvkumar.com/mr10/ Strategy Development Market Research Provides Information to Assist Management With Three Critical Decisions: • What business should we be in? • How will we compete? • What are the objectives for the business?

  14. http://www.drvkumar.com/mr10/ Marketing Program Development • Programs embrace specific tasks • Action program usually focuses on a single objective in support of one element of overall business strategy Representative Decisions that Draw on Marketing Research: • Segmentation decisions • Product decisions • Distribution decisions • Advertising and promotion decisions • Personal selling decisions • Price decisions • Branding decisions • Customer satisfaction decisions

  15. http://www.drvkumar.com/mr10/ Implementation • Starts with decision to proceed with a new program or strategy • Set specific measurable objectives for all elements of marketing program • Shift research focus to : • "Did the elements achieve their objectives?" • “Should the marketing program be continued, discontinued, revised or expanded?" Factors Influencing Marketing Research Decisions • Relevance • Type and Nature of Information Sought • Timing • Availability of Resources • Cost-benefit Analysis

  16. http://www.drvkumar.com/mr10/ Ethics in Marketing Research Ethics of the Sponsor • Overt and covert purposes • Dishonesty in dealing with suppliers • Misuse of research information Ethics of the Supplier • Violating client confidentiality • Improper execution of research Abuse of Respondents • Falsifying answers

  17. http://www.drvkumar.com/mr10/ Conquering Latino Homes • Hispanics account for nearly 15% of the U.S. population. • Research shows that Latino households contribute $600 billion of $1.3 trillion purchasing power of multicultural population. • In 2003 only 5.1% of total advertising dollars in the United States was focused on Latinos. • By 2050, Hispanic population would represent 25% of US population. • What do you think the problem is?

  18. http://www.drvkumar.com/mr10/ P&G Luring Women with their Feminine Toothpaste • P&G has came out with “Rejuvenating Effects” a gender specific toothpaste targeting the female customers, who do 82% of the grocery shopping. • The flavor and package of the product was decided on the basis of the results from a customer survey filled out by women. • Though the product is priced slightly higher than the other brands P&G hopes to make women think about the toothpaste in the same light as skin care lotions and shampoo.

  19. http://www.drvkumar.com/mr10/ Harley Davidson Exploring New Markets • Problem: Flat domestic scales • Solution: • In 1999, Harley-Davidson started a rental program which provided a way to hook customers on riding and thereby entice them into buying a motorcycle. • 40 percent of those enrolled in the program were female and about 30 percent were under the age of 35 • Result: • Motorcycles rented went up from 401 days in 1999 to a total of 224,134 days worldwide in 2004. • 32 percent of rental customers surveyed bought a bike or placed an order after renting, another 37 percent were planning to buy one within a year. • Nearly half of the renters spent more than $100 on Harley-Davidson accessories, such as T-shirts and gloves.

More Related