Chapter 5. Managing Marketing Information . Road Map: Previewing the Concepts. Explain the importance of information to the company. Define the marketing information system and discuss its parts. Outline the steps in the marketing research process.
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Managing Marketing Information
Information Needed by Managers Can be Obtained From:
Electronic Collections of Information from Data Sources (i.e. Accounting) Within the Company
Publicly Available Information about Competitors and the Marketing Environment (i.e. Technological)
Design, Collection, Analysis, and Reporting of Data about a Specific Marketing Situation
Gathering data by observing people,
actions and situations
Asking individuals about attitudes, preferences or
Using groups of people to
(Causal)Develop the Research Plan Primary Data Collection
Most Widely Used Form
Requires 3 Decisions:
Who is to be surveyed?
How many people should be surveyed?
How should the people in the sample be chosen?
Sampling procedureDevelop the Research Plan Sampling Plan
Most Expensive & Subject to Error
Step 1. Interpret the Findings
Step 2. Draw Conclusions
Researcher Should Present Important Findings that are Useful in the Major Decisions Faced by Management.
Step 3. Report to Management
Distributes Routine Information for
Information for Special