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Marketing Research. Aaker, Kumar, Day Seventh Edition Instructor’s Presentation Slides. Chapter Twenty-Five. Contemporary Applications of Marketing Research. Competitive Advantage. Porter’s Diamond 5 Forces That Shape Competition Current competitors The threat of new entrants
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Marketing Research Aaker, Kumar, Day Seventh Edition Instructor’s Presentation Slides
Chapter Twenty-Five Contemporary Applications of Marketing Research
Competitive Advantage Porter’s Diamond 5 Forces That Shape Competition • Current competitors • The threat of new entrants • The threat of new substitutes • The bargaining power of customers • The bargaining power of suppliers Aaker, Kumar, Day
Assessing Competitive Advantage Market-based Process-based Aaker, Kumar, Day
Brand Equity • Defined as a set of brand assets and liabilities linked to a brand, its name and symbol, that add or subtract from the value provided by the product The Assets Are • Brand Loyalty • Name Awareness • Perceived Quality • Brand Associations • Other Proprietary Brand Assets Aaker, Kumar, Day
Measuring Brand Equity • Excess Price Approach • Observation • Customer Research • Trade-off Analysis • Impact on Customer Evaluation Aaker, Kumar, Day
Measuring Brand Equity (Cont.) • Replacement Cost Approach • Stock Price Approach • Future Earnings Approach • Discounting the future profit stream • Applying an earnings multiplier Aaker, Kumar, Day
Customer Satisfaction • Customer satisfaction research should be done at planned intervals so as to track satisfaction over time Aaker, Kumar, Day
Customer Satisfaction (Contd.) Measurement Process • Define goals and specify how information will be used • Discover what is important to customers and employees • Measure critical needs • Act on the information • Measure performance over time Aaker, Kumar, Day
Total Quality Management • The process of managing complex change in the organization with the aim of quality improvement Aaker, Kumar, Day
Total Quality Management (Contd.) The Characteristics of an Organization That Has Successfully Implemented TQM • Everyone in the organization must be trained and educated continuously • Establishment of quantifiable measures of progress • Formation of cross functional teams that are empowered and motivated • Use of formal tools, techniques to maintain quality Aaker, Kumar, Day
Total Quality Management (Contd.) Information Requirements • Measurement must be specific • Track the correct measure • Measure the outputs of the highest value to the customer • Measure process and results • Anticipate future customer and process requirements Aaker, Kumar, Day
Total Quality Management (Contd.) Analysis of Data in a TQM Company • Who performs the analysis? • What analytical techniques are used? • Which data are analyzed and at what level of detail? • How are data aggregated, and how are relations between data groups cross-referenced? • How does the company improve its analytical capabilities? Aaker, Kumar, Day
Benchmarking • Identify what is to be benchmarked • Identify comparative companies • Determine data collection method, and collect data • Determine current performance levels • Project future performance levels Aaker, Kumar, Day
Benchmarking (Cont.) • Communicate benchmark findings, and gain acceptance • Establish functional goals • Develop action plans • Implement specific actions, and monitor progress • Recalibrate benchmarks Aaker, Kumar, Day
