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Chapter 8

Chapter 8. Improving Decisions with Marketing Information. www.mhhe.com/fourps. Marketing Information Inputs to Marketing Strategy Planning Decisions (Exhibit 8-1). Marketing Information Inputs to Marketing Strategy Planning Decisions ( Exhibit 8-1). Information for marketing decisions.

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Chapter 8

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  1. Chapter 8 Improving Decisions with Marketing Information www.mhhe.com/fourps

  2. Marketing Information Inputs to Marketing Strategy Planning Decisions(Exhibit 8-1)

  3. Marketing Information Inputs to Marketing Strategy Planning Decisions (Exhibit 8-1) Information for marketing decisions • Marketing information systems • Accessing multimedia data • Data warehouse • Decision support systems • Marketing models • Marketing Research • Role of research specialist • Scientific method • Steps in marketing research • Define problem • Analyze situation • Gather problem specific data • Interpret the data • Solve the problem

  4. Who Does the Work?

  5. That marketing research geek doesn’t understand my business – she doesn’t even know my competitors! That overpaid Gen Y is clueless – she doesn’t even know how a chi-square is computed! Effective Research Requires Cooperation Collaboration Is Absolutely Necessary!

  6. Changes Are Under Way in Marketing Information Systems MIS Makes Information Available and Accessible Get More Information Faster and Easier Marketing Managers Must Help Develop an MIS An Intranet Is Easy to Update

  7. Elements of a Complete Marketing Information System(Exhibit 8-2)

  8. The Impact of an MIS Information for implementation, planning and control Many Firms Are Not There Yet

  9. Scientific method The process by which scientists, collectively and over time, endeavor to construct an accurate (that is, reliable, consistent and non-arbitrary)representation of the world. http://teacher.pas.rochester.edu/phy_labs/AppendixE/AppendixE.html

  10. The scientific method has four steps • Observation and description of a phenomenon or group of phenomena. • Formulation of an hypothesis to explain the phenomena • Use of the hypothesis to predict the existence of other phenomena, or to predict quantitatively the results of the new observations. • Performance of experimental tests of the predictions by several independent experimenters and properly performed experiments.

  11. The Scientific Method and Marketing Research(Exhibit 8-3) Defining the problem Analyzing the situation Early identification of solution Feedback to previous steps Getting problem-specific data Interpreting the data Solving the problem

  12. Explain the differences between data and information Changing View of the Marketing Research Process • Five Situations When Marketing Research Not Needed • Information already available • Insufficient time frame • Inadequate resources • Costs outweigh the value of the research • Strategic importance of the problem

  13. Defining the Problem – Step 1 Finding the Right Problem Level Problems vs. Symptoms Setting Research Objectives

  14. Analyzing the Situation – Step 2 What Information Do We Already Have? Situation Analysis Helps Educate a Researcher

  15. Checking Your Knowledge • Edna Bates, a marketing researcher who is an expert in • customer satisfaction research, is asked by a client to • conduct a study dealing with a completely unfamiliar • research topic. Edna consults secondary data to gain more • insight about this unfamiliar area. Edna is engaged in the • _________ stage of the marketing research process. • problem definition • situation analysis • gathering problem-specific data • data interpretation • solving the problem

  16. Company files, intranet, reports, marketing information system, people, sales, cost data Inside company Equipment (video, scanner, etc.); website analysis; personal approaches Obser-vation Internet, libraries, governments, trade associations, universities, private research organizations Outside company In-depth and focus group interviews; online, mail, phone, personal surveys; panels Ques-tioning Secondary and Primary Data (Exhibit 8-4) Secondary data sources All data sources Primary data sources

  17. Private Sources Are Useful Too

  18. The Bottom Line on Secondary Data KeyIssues Research Proposal Situation Analysis – A Lot For a Little What Else Is Needed?

  19. Observing Questioning • Asking people • Formal or informal • Qualitative questioning is open-ended • Monitoring behaviors • Human or machine • Costs coming down Getting Problem-Specific Data – Step 3 PrimaryData

  20. Focus Groups Stimulate Discussion

  21. A popular type of qualitative research Involves a small group (usually 6 to 10 people) in a discussion—usually for about 1 hour A group leader ("interviewer") unobtrusively guides the discussion Designed to get in-depth, open-ended responses, not intended to be "representative" of larger market Group interaction stimulates thinking and reactions Analysis of results is subjective May involve videotaping and or “on-line sessions” and other technologies Focus Group Interviews

  22. Structured Questioning Gives More Objective Results Can be summarized in numbers Seeks structured responses QuantitativeResearch Faster response & analysis

  23. Primary Methods for Collecting Survey Data Surveys Come in Many Forms Mail and Online Telephone Personal Interview

  24. Checking Your Knowledge • A researcher wants to study 1,000 consumers and • needs information about a lot of personal and • sensitive issues. Which of the following would be • the best way to gather this information? • Mail survey • Focus group • Telephone survey • Face-to-face interview • Experiment

  25. Observing – What You See Is What You Get Observation In Common in Advertising Research Website Analysis Checkout Scanners “See” A Lot Consumer Panels

  26. Difference in response between two groups Average for group who saw Ad #1 = 3.2 Average for group who saw Ad #2 = 4.6 1 2 3 4 5 Experimental Method Controls Conditions (Exhibit 8-5) Half of the people see Ad #1 Representative group of customers Half of the people see Ad #2 What conclusion can you draw from this research?

  27. Interactive Exercise: Types of Data

  28. Interpreting the Data – Step 4 (Exhibit 8-6)

  29. Key Concerns in Data Interpretation Population Sample KeyIssues Validity Confidence Intervals

  30. Withholding Information Unauthorized Disclosure of Personalized Information Disguised Sales Pitches Lying with Statistics Ethical Issues in Marketing Research

  31. Checking Your Knowledge • A sales training firm wants feedback on the quality of its • classes and training services. The firm planned to send • mail surveys to CEOs of its client companies to get the • needed information. However, one executive objected to • the survey plan, saying, “CEOs don’t attend our classes. • How will they know if the classes are any good?” Another • executive added, “If the survey isn’t relevant to the CEOs, it • will be thrown away and we’ll get no data.” It appears that • the research design presents problems with: • response rate. • relevance of population. • validity. • improper statistical analysis. • both A and B.

  32. Interactive Exercise: Confidence Interval

  33. Solving the Problem – Step 5 Actionable Results Lack of Impact? Managers Need to Know About Research Quality of Suppliers Is Variable Needed: Time, Forethought, Money

  34. Checking Your Knowledge • A marketing research firm conducted a telephone survey • for a consumer products company. It provided new and • interesting information about brand image, the competition, • and other topics. At the end of the research company’s • results presentation, the sales manager commented, “This • is all interesting information, but it doesn’t tell me why our • market share is declining among 18 to 34 year old women, • nor does it offer me any suggestions about actions I can • take to deal with the situation.” The sales manager’s • complaint suggests that the research suffers from problems • with: • a lack of action implications for management. • poor planning by the researcher and managers at the outset of the project. • poor sampling. • a low response rate. • both A and B.

  35. International Marketing Research Research Contributes to Success Accurate Data—Hard To Find? Coordinate and Standardize Use Local Researcher

  36. You should now be able to: • Know about marketing information systems. • Understand the scientific approach to marketing research. • Know about methods for collecting secondary and primary data. • Understand the role of observing, questioning, and using experimental methods in marketing research.

  37. Key Terms • Marketing research • Marketing information system (MIS) • Intranet • Data warehouse • Decision support system (DSS) • Search engine • Marketing dashboard • Marketing model • Scientific method • Hypotheses • Marketing research process • Situation analysis • Secondary data • Primary data • Research proposal • Qualitative research • Focus group interview • Quantitative research • Response rate • Consumer panel

  38. Key Terms • Experimental method • Statistical packages • Population • Sample • Confidence interval • Validity

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