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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. Database Marketing. Marketing Decision Support Systems.

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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. 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

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

  4. 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

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

  6. 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

  7. 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

  8. Marketing Research in Action • www.sric-bi.com • VALS Survey • Business applications of VALS

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

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

  11. 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

  12. 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

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

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

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

  16. 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

  17. 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

  18. 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

  19. 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

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

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

  22. Application Exercise • BuzzBack Market Research investigated healthy eating among teens (from Brandweek July 11, 2005 page 16-17) • Surveyed 532 respondents • Average 3 snacks/day • Breakfast skipped most often • Asked respondents to identify “healthy snacks” • Travel fruit (in bags like chips or cookies) • Drink containing 5 servings of fruits/veggies • Natural & fat-free, vitamin-enhanced cookies & chips that taste great • Fruit-based cookies • Breakfast shake for teens (not for dieters)

  23. Group Activity • Assemble a group of 6-8 students • Assume you are a new product development specialist at a food - packaged goods company (e.g. Kraft, General Mills, Quaker Oats/Pepsi, Kellogg, Sara Lee) • Select one of the new product ideas & assume your company is interested in turning the idea into a product • Brainstorm information (market research) that could assist you in developing and launching a new product • Draft 2-3 questions you could use to gather primary information from respondents • Ask 2-3 other students your questions - tally your responses (n=24) and develop recommendations based upon the results

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

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

  26. 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

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

  28. 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?

  29. Scanner-basedResearch 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. BehaviorScanInfoScan LO5

  30. 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 LO5

  31. Competitive Intelligence 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 LO6 Competitive Intelligence

  32. Sources of Competitive Intelligence UCC Filings Internet Suppliers Company Salespeople Periodicals Experts Yellow Pages CI Consultants Trade Shows Government Agencies LO6

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