Lamb, Hair, McDaniel

1. Lamb, Hair, McDaniel 2010-2011 CHAPTER 9 Decision Support Systems and Marketing Research

2. Marketing Decision Support Systems There will be no questions on Marketing Decision Support Systems LO1

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

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

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

6. 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 Beyond the Book NOTE: Supplemental content – not in book. LO2

7. Improve quality of decision making • Trace problems • Focus on keeping existing customers • Understand changes in marketplace Why marketing research? The Importance of Marketing Research LO2

8. Steps in a Marketing Research Project There will be no questions on this topic LO3

9. Internal Corporate Information Government Agencies Trade and Industry Associations Business Periodicals News Media Sources of Secondary Data LO3

10. Advantages of Secondary Data • 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 LO3

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

12. Marketing Research Aggregators Provide small- to medium-sized companies with information they could not afford to research on their own Increases the revenue generated by large, expensive reports by slicing and repackaging them http://www.marketresearch.com/ http://www.aroq.com/ LO3

13. Primary Data Information collected for the first time. Used for solving the particular problem under investigation. Advantages: • Answers a specific research question • Data are current • Source of data is known • Secrecy can be maintained LO3

14. Disadvantages of Primary Data 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 LO3

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

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

17. 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. Questionnaire Design LO3

18. Closed-ended and scaled-response questions are easier to tabulate than open-ended questions because response choices are fixed. On the other hand, unless the researcher designs the closed-ended question very carefully, an important choice may be omitted. Questionnaire Design Beyond the Book LO3 NOTE: Supplemental content – not in book.

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

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

21. Observational Situations LO3

22. Virtual Shopping • Allows customers to “shop” with realistic complexity and variety • Tests can be altered quickly • Computer automatically collects data LO3

23. Collecting the Data Field Service Firmsprovide: • Focus group facilities • Mall intercept locations • Test product storage • Kitchen facilities • Retail audits LO3

24. The Profound Impact of the Internet onMarketing Research Discuss the profound impact of the Internet on marketing research LO4

25. Impact of the Internet • Allows better and faster decision making • Improves ability to respond quickly to customer needs and market shifts • Makes follow-up studies and tracking research easier • Slashes labor- and time-intensive research activities and costs LO4

26. Rapid development, Real-time reporting Reduced costs Personalized questions and data Improved respondent participation Contact with the hard-to-reach Advantages ofInternet Surveys LO4

27. Administer surveys Conduct focus groups Other types of marketing research http://www.greenfieldonline.com Online Uses of the Internet by Marketing Researchers LO4

28. Methods of Collecting Online Surveys • Web Survey Systems • Survey Design and Web Hosting Sites • Online Panel Providers LO4

29. Scanner-Based Research Discuss the growing importance of scanner-based research LO5

30. BehaviorScan InfoScan Aggregate consumerinformation on allbar-coded products Panel information from Specific groups of people, enables researchers to manipulate variables and seereal results Scanner-Based Research A system for gathering information from a single group of respondents by continuously monitoring the advertising, promotion, and pricing they are exposed to and the things they buy. LO5

31. Scanner-Based Research BehaviorScan With such a measure of household purchasing, it is possible to manipulate marketing variables, such as television advertising or consumer promotions, or to introduce a new product and analyze real changes in consumer buying behavior. InfoScan Retail sales, detailed consumer purchasing information (including measurement of store loyalty and total grocery basket expenditures), and promotional activity by manufacturers and retailers are monitored and evaluated for all bar-coded products. Data are collected weekly from more than 34,000 supermarkets, drugstores, and mass merchandisers. LO5

32. When Should Marketing Research Be Conducted? Explain when marketing research should be conducted LO6

33. When Should Marketing Research Be Conducted? • Where there is a high level of uncertainty • When value of research information exceeds the cost of generating the information LO6

34. Competitive Intelligence There will be no questions on competitive intelligence LO7

35. An intelligence system that helps managers assess their competition and vendors in order to become more efficient and effective competitors. http://www.scip.org Online Competitive Intelligence Competitive Intelligence LO7

36. LO7 UCC Filings Internet Suppliers Company Salespeople Periodicals Experts Yellow Pages CI Consultants Trade Shows Government Agencies Sources of Competitive Intelligence