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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

Chapter 8

Improving Decisions with Marketing Information

www.mhhe.com/fourps



Marketing information inputs to marketing strategy planning decisions exhibit 8 11
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



Effective research requires cooperation

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!


Changes are under way in marketing information systems
Changes Are Under Way in Marketing Information Systems business – she doesn’t even know my competitors!

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


Elements of a complete marketing information system exhibit 8 2
Elements of a Complete Marketing Information System business – she doesn’t even know my competitors!(Exhibit 8-2)


The impact of an mis
The Impact of an MIS business – she doesn’t even know my competitors!

Information for implementation, planning and control

Many Firms Are Not There Yet


Scientific method

Scientific method business – she doesn’t even know my competitors!

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


The scientific method has four steps
The scientific method has four steps business – she doesn’t even know my competitors!

  • 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.


The scientific method and marketing research exhibit 8 3
The Scientific Method and Marketing Research business – she doesn’t even know my competitors!(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


Explain the differences between business – she doesn’t even know my competitors!

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


Defining the problem step 1
Defining the Problem – Step 1 business – she doesn’t even know my competitors!

Finding the Right Problem Level

Problems vs. Symptoms

Setting Research Objectives


Analyzing the situation step 2
Analyzing the Situation – Step 2 business – she doesn’t even know my competitors!

What Information Do We Already Have?

Situation Analysis Helps Educate a Researcher


Checking your knowledge
Checking Your Knowledge business – she doesn’t even know my competitors!

  • 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


Secondary and primary data exhibit 8 4

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


Private sources are useful too
Private Sources Are Useful Too system, people, sales, cost data


The bottom line on secondary data
The Bottom Line on Secondary Data system, people, sales, cost data

KeyIssues

Research Proposal

Situation Analysis – A Lot For a Little

What Else Is Needed?


Getting problem specific data step 3

Observing system, people, sales, cost data

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


Focus groups stimulate discussion
Focus Groups Stimulate Discussion system, people, sales, cost data


Focus group interviews

A popular type of qualitative research system, people, sales, cost data

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


Structured questioning gives more objective results
Structured Questioning Gives More Objective Results system, people, sales, cost data

Can be summarized in numbers

Seeks structured responses

QuantitativeResearch

Faster response & analysis


Surveys come in many forms

Primary system, people, sales, cost data

Methods

for

Collecting

Survey

Data

Surveys Come in Many Forms

Mail and Online

Telephone

Personal Interview


Checking your knowledge1
Checking Your Knowledge system, people, sales, cost data

  • 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


Observing what you see is what you get
Observing – What You See Is What You Get system, people, sales, cost data

Observation In Common in Advertising Research

Website Analysis

Checkout Scanners “See” A Lot

Consumer Panels


Experimental method controls conditions exhibit 8 5

Difference in response between two groups system, people, sales, cost data

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?


Interactive exercise types of data
Interactive Exercise: Types of Data system, people, sales, cost data


Interpreting the data step 4 exhibit 8 6
Interpreting the Data – Step 4 system, people, sales, cost data(Exhibit 8-6)


Key concerns in data interpretation
Key Concerns in Data Interpretation system, people, sales, cost data

Population

Sample

KeyIssues

Validity

Confidence Intervals


Ethical issues in marketing research

Withholding Information system, people, sales, cost data

Unauthorized Disclosure of Personalized Information

Disguised Sales Pitches

Lying with Statistics

Ethical Issues in Marketing Research


Checking your knowledge2
Checking Your Knowledge system, people, sales, cost data

  • 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.


Interactive exercise confidence interval
Interactive Exercise: Confidence Interval system, people, sales, cost data


Solving the problem step 5
Solving the Problem – Step 5 system, people, sales, cost data

Actionable Results

Lack of Impact?

Managers Need to Know About Research

Quality of Suppliers Is Variable

Needed: Time, Forethought, Money


Checking your knowledge3
Checking Your Knowledge system, people, sales, cost data

  • 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.


International marketing research
International Marketing Research system, people, sales, cost data

Research Contributes to Success

Accurate Data—Hard To Find?

Coordinate and Standardize

Use Local Researcher


You should now be able to
You should now be able to: system, people, sales, cost data

  • 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.


Key terms
Key Terms system, people, sales, cost data

  • 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


Key terms1
Key Terms system, people, sales, cost data

  • Experimental method

  • Statistical packages

  • Population

  • Sample

  • Confidence interval

  • Validity


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