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Marketing Information Management

Marketing Information Management. Meeting Customer Needs and Wants. Which people need my product?. Product – Price – Place - Promotion. The Need for Market Research. You want to start a new community theater in Roseville.

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Marketing Information Management

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  1. Marketing Information Management

  2. Meeting Customer Needs and Wants Which people need my product? Product – Price – Place - Promotion

  3. The Need for Market Research • You want to start a new community theater in Roseville. • How do you know if you’ll be successful? What information will you need in order to figure this out?

  4. Some Interesting Questions… • Where do people go now for theater? • Do people go to live theater if they have other entertainment options? • How much are people willing to pay for tickets? • How many volunteer musicians can we find? • What type of shows to people enjoy best (comedies, musicals, or dramas)?

  5. More Questions… • How many people live in Roseville? • What is the unemployment rate in Roseville? • How much does it cost to rent rehearsal space? • What are the most popular shows?

  6. Sources of Data • Primary Data – Data obtained for the first time and used specifically for the particular problem under study. • Secondary Data – Data that have already been collected by someone else for general purposes.

  7. Sources of Secondary Data • Government Sources • Bureau of Labor Statistics • U. S. Census • CIA World Factbook • Occupational Outlook Handbook

  8. Sources of Secondary Data • Business and Trade Publications • BusinessWeek • Forbes • Wall Street Journal • City-data.com • Industry specific publications

  9. Sources of Secondary Data • Consumer Publications • Local newspapers • Consumer magazines

  10. Sources of Secondary Data • Books • Academic Journals • EBSCO Host • Academic Search Premier • Google Scholar

  11. Sources of Primary Data • Interviews • Personal interview • Mall intercept interview • Focus group • Telephone interview

  12. Sources of Primary Data • Surveys • Mail survey • Internet survey

  13. Sources of Primary Data • Observation • Participant-observer • Traffic count • Mystery shopping

  14. Sources of Primary Data • Experiment

  15. Sources of Primary Data • Experiment • Requires a test group and a control group • A research observes the results of changing one or more marketing variables while keeping certain other variables constant under controlled conditions. • Example… • Why are experiments so powerful?

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