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MKTG

MKTG. Lamb, Hair, McDaniel 2007-2008. 8. CHAPTER. Decision Support Systems and Marketing Research. Designed by Amy McGuire, B-books, Ltd. Prepared by Deborah Baker, Texas Christian University. Learning Outcomes.

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MKTG

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  1. MKTG Lamb, Hair, McDaniel 2007-2008 8 CHAPTER Decision Support Systems and Marketing Research Designed by Amy McGuire, B-books, Ltd. Prepared by Deborah Baker, Texas Christian University

  2. Learning Outcomes Explain the concept and purpose of a marketing decision support system Define marketing research and explain its importance to marketing decision making Describe the steps involved in conducting a marketing research project LO1 LO2 LO3

  3. Learning Outcomes Discuss the profound impact of the Internet on marketing research Discuss the growing importance of scanner-based researchExplain the concept of competitive intelligence LO4 LO5 LO6

  4. Marketing Decision Support Systems LO1 Explain the concept and purpose of a marketing decision support system

  5. Decision Support Systems Marketing Decision Support Systems An interactive, flexible computerized information system that enables managers to obtain and manipulate information as they are making decisions. DSS LO1

  6. DSS System Characteristics Interactive Flexible Discovery-Oriented Accessible LO1

  7. http://www.fivethirtyeight.com/ DSS

  8. DatabaseMarketing Marketing Decision Support Systems The creation of a large computerized file of customers’ and potential customers’ profiles and purchase patterns. The key tool for successfulone-to-one marketing. LO1

  9. Biz Flix Apollo 13 LO1

  10. REVIEW LEARNING OUTCOME LO1 Marketing Decision Support Systems

  11. The Role of Marketing Research LO2 Define marketing research and explain its importance to marketing decision making

  12. MarketingResearch The Role of Marketing Research The process of planning, collecting, and analyzing data relevant to a marketing decision. LO2

  13. Products Uses Awareness Advertising Familiarity Prices New concepts Packages Traffic patterns Names and Logos Wants Services Needs Buying habits Politics Colors Marketing Research Studies LO2

  14. Gathering and presenting factual statements Descriptive Diagnostic • Explaining data • “What if?” Predictive The Role of Marketing Research LO2

  15. Improve the quality of decision making Trace problems Focus on keeping existing customers Understand the marketplace Alert them to marketplace trends Gauge the value of goods and services, and the level of customer satisfaction Management Uses of Marketing Research LO2 Beyond the Book NOTE: Supplemental content – not in book.

  16. Improve quality of decision making • Trace problems • Focus on keeping existing customers • Understand changes inmarketplace Why marketing research? REVIEW LEARNING OUTCOME LO2 Marketing Research and Its Importance

  17. Steps in a Marketing Research Project LO3 Describe the steps involved in conducting a marketing research project

  18. The Marketing Research Process Define Problem Plan Design/ Primary Data Specify Sampling Procedure Collect Data Analyze Data Prepare/ Present Report Follow Up LO3 1 2 3 4 5 6 7

  19. Marketing Research Marketing Research Problem Determining what information is needed and how that information can be obtained efficiently and effectively. Marketing Research Objective The specific information needed to solve a marketing research problem; the objective should provide insightful decision-making information. Management Decision Problem A broad-based problem that requires marketing research in order for managers to take proper actions. LO3

  20. Secondary Data Data previously collected for any purpose other than the one at hand. LO3 Secondary Data

  21. Sources of Secondary Data Internal Corporate Information Government Agencies Trade and Industry Associations Business Periodicals News Media http://www.coca-colastore.com Online LO3

  22. Advantages of Secondary Data LO3 • Saves time and money if on target • Aids in determining direction for primary data collection • Pinpoints the kinds of people to approach • Serves as a basis of comparison for other data

  23. Disadvantages of Secondary Data LO3 • May not give adequate detailed information • May not be on target with the research problem • Quality and accuracy of data may pose a problem

  24. The New Age of Secondary Information: The Internet 1 Analyze your topic 2 Test run a word or phrase in a search engine 3 Learn as you go and vary your approach 4 Don’t bog down in strategy that doesn’t work 5 Go back to earlier steps better informed LO3

  25. Planning the Research Design Which research questions must be answered? How and whenwill data be gathered? ? How willthe databe analyzed? LO3

  26. Primary Data Primary Data LO3 Information collected for the first time. Can be used for solving the particular problem under investigation.

  27. Advantages of Primary Data LO3 • Answers a specific research question • Data are current • Source of data is known • Secrecy can be maintained

  28. Disadvantages of Primary Data LO3 Disadvantages are usually offset by the advantages of primary data. • Expensive • “Piggybacking” may confuse respondents • Quality declines if interviews are lengthy • Reluctance to participate in lengthy interviews

  29. Survey Research The most popular technique for gathering primary data in which a researcher interacts with people to obtain facts, opinions, and attitudes. LO3 Survey Research

  30. Forms of Survey Research In-Home Interviews Mail Surveys Mall Intercept Interviews Executive Interviews Telephone Interviews Focus Groups LO3

  31. Forms of Survey Research Mall InterceptInterview Survey research method that involves interviewing people in the common areas of shopping malls. Executive Interview A type of survey that involves interviewing businesspeople at their offices concerning industrial products or services. LO3

  32. Forms of Survey Research Seven to ten people who participate in a group discussion led by a moderator. LO3 Focus Groups

  33. Questionnaire Design Open-Ended Question An interview question that encourages an answer phrased in respondent’s own words. Closed-Ended Question An interview question that asks the respondent to make a selection from a limited list of responses. Scaled-Response Question A closed-ended question designed to measure the intensity of a respondent’s answer. LO3

  34. Questionnaire Design Clear and concise No ambiguous language Only one question Unbiased Reasonable terminology http://www.createsurvey.com Online LO3

  35. Observation Research A research method that relies on three types of observation: • people watching people • people watching an activity • machines watching people LO3 Observation Research

  36. Observational Situations http://www.bmiltd.com Online LO3

  37. Ethnographic Research The study of human behaviorin its natural context; involves observation of behavior and physical setting. LO3 Ethnographic Research

  38. The Sampling Procedure LO3 Sample A subset from a large population. Universe The population from which a sample will be drawn.

  39. Sampling Procedure Sample Universe Probability Samples Non-Probability Samples LO3

  40. Types of Samples Probability Samples Non-Probability Samples Simple Random Sample Convenience Sample Stratified Sample JudgmentSample Cluster Sample Quota Sample SystematicSample SnowballSample LO3

  41. Probability Samples LO3 Probability Sample A sample in which every element in the population has a known statistical likelihood of being selected. Random Sample A sample arranged so that every element of the population has an equal chance of being selected.

  42. Nonprobability Samples LO3 Nonprobability Sample Any sample in which little or no attempt is made to get a representative cross-section of the population. Convenience Sample A form of nonprobability sample using respondents who are convenient or readily accessible to the researcher.

  43. Types of Errors Measurement Error Error when there is a difference between the information desired and the information provided by research Sampling Error Error when a sample somehow does not represent the target population. Frame Error Error when a sample drawn from a population differs from the target population. Random Error Error because the selected sample is an imperfect representation of the overall population. LO3

  44. Errors http://www.huffingtonpost.com/

  45. Field Service Firms LO3 Provide: • Focus group facilities • Mall intercept locations • Test product storage • Kitchen facilities • Retail audits

  46. Analyzing the Data A method of analyzing data that lets the analyst look at the responses to one question in relation to the responses to one or more other questions. LO3 Cross-Tabulation

  47. Preparing and Presenting the Report LO3 • Concise statement of the research objectives • Explanation of research design • Summary of major findings • Conclusion with recommendations

  48. Following Up LO3 • Were the recommendations followed? • Was sufficient decision-making information included in the report? • What could have been done to make the report more useful to management?

  49. REVIEW LEARNING OUTCOME LO3 Steps in a Marketing Research Project

  50. Impact of the Internet onMarketing Research LO4 Discuss the profound impact of the Internet on marketing research

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