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.
Improving Decisions with Marketing Information
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!
Collaboration Is Absolutely Necessary!
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
Information for implementation, planning and control
Many Firms Are Not There Yet
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.
Defining the problem
Analyzing the situation
Early identification of solution
Feedback to previous steps
Getting problem-specific data
Interpreting the data
Solving the problem
Explain the differences between
data and information
Changing View of the Marketing Research Process
Finding the Right Problem Level
Problems vs. Symptoms
Setting Research Objectives
What Information Do We Already Have?
Situation Analysis Helps Educate a Researcher
Company files, intranet, reports, marketing information system, people, sales, cost data
Equipment (video, scanner, etc.); website analysis; personal approaches
Internet, libraries, governments, trade associations, universities, private research organizations
In-depth and focus group interviews; online, mail, phone, personal surveys; panels
Secondary data sources
All data sources
Primary data sources
Situation Analysis – A Lot For a Little
What Else Is Needed?
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
Can be summarized in numbers
Seeks structured responses
Faster response & analysis
Mail and Online
Observation In Common in Advertising Research
Checkout Scanners “See” A Lot
Difference in response between two groups
Average for group who saw Ad #1 = 3.2
Average for group
who saw Ad #2 = 4.6
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?
Unauthorized Disclosure of Personalized Information
Disguised Sales Pitches
Lying with Statistics
Lack of Impact?
Managers Need to Know About Research
Quality of Suppliers Is Variable
Needed: Time, Forethought, Money
Research Contributes to Success
Accurate Data—Hard To Find?
Coordinate and Standardize
Use Local Researcher