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4. Managing Marketing Information. ROAD MAP: Previewing the Concepts. Explain the importance of information to the company and its understanding of the marketplace. Define the marketing information system and discuss its parts. Outline the steps in the marketing research process.

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managing marketing information

4

Managing Marketing Information

road map previewing the concepts
ROAD MAP: Previewing the Concepts
  • Explain the importance of information to the company and its understanding of the marketplace.
  • Define the marketing information system and discuss its parts.
  • Outline the steps in the marketing research process.
  • Explain how companies analyze and distribute marketing information.
  • Discuss the special issues some marketing researchers face, including public policy and ethics issues.
the importance of information
The Importance of Information
  • Companies need information about their:
    • Customer needs
    • Marketing environment
    • Competition
  • Marketing managers do not need more information, they need better information.
information overload
Information Overload

“In this oh so overwhelming information age, it’s all too easy to be buried, burdened, and burned out by data overload.”

marketing information system
Marketing Information System
  • An MIS consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers.
  • The MIS helps managers to:
    • Assess Information Needs
    • Develop Needed Information
    • Distribute Information
assessing information needs
Assessing Information Needs
  • A good MIS balances the information users would like against what they really need and what is feasible to offer.
  • Sometimes the company cannot provide the needed information because it is not available or due to MIS limitations.
  • Have to decide whether the benefits of more information are worth the costs.
developing marketing information
Developing Marketing Information
  • Internal Databases: Electronic collections of information obtained from data sources within the company.
  • Marketing Intelligence: Systematic collection and analysis of publicly available information about competitors and developments in the marketing environment.
  • Marketing Research: Systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.
marketing intelligence
Marketing Intelligence

Procter & Gamble admitted to “dumpster diving” at rival Unilever’s Helene Curtis headquarters. When P&G’s top management learned of the questionable practice, it stopped the project, voluntarily informed Unilever, and set up talks to right whatever competitive wrongs had been done.

defining the problem objectives
Defining the Problem & Objectives
  • Exploratory
  • Research
  • Gather preliminary information
  • that will help define the problem
  • and suggest hypotheses.
  • Describes things (e.g., market
  • potential for a product,
  • Demographics, and attitudes).
  • Descriptive
  • Research
  • Tests hypotheses about
  • cause-and-effect
  • relationships.
  • Causal
  • Research
defining the problem
Defining the Problem

Burke helps clients define the problem and offers a solution.

Click the picture above to play video

developing the research plan
Developing the Research Plan
  • Includes:
    • Determining the exact information needed
    • Developing a plan for gathering it efficiently
    • Presenting the written plan to management
  • Outlines:
    • Sources of existing data
    • Specific research approaches
    • Contact methods
    • Sampling plans
    • Instruments for data collection
gathering secondary data
Gathering Secondary Data
  • Information that already exists somewhere
    • Internal databases
    • Commercial data services
    • Government sources
  • Available more quickly and at a lower cost than primary data
  • Must be relevant, accurate, current, and impartial
online databases
Online Databases

Dialog puts an incredible wealth of information at the keyboards of marketing decision makers. Dialog puts “information to change the world, or your corner of it” at your fingertips.

primary data collection
Primary Data Collection
  • Consists of information collected for the specific purpose at hand.
  • Must be relevant, accurate, current, and unbiased.
  • Must determine:
    • Research approach
    • Contact methods
    • Sampling plan
    • Research instruments
observational research
Observational Research
  • The gathering of primary data by observing relevant people, actions, and situations.
  • Ethnographic research:
    • Observation in “natural environment”
  • Mechanical observation:
    • People meters
    • Checkout scanners
observational research1
Observational Research

Fisher-Price set up an observation lab in which it could observe the reactions of little tots to new toys.

survey research
Survey Research
  • Most widely used method for primary data collection.
  • Approach best suited for gathering descriptive information.
  • Can gather information about people’s knowledge, attitudes, preferences, or buying behavior.
experimental research
Experimental Research
  • Tries to explain cause-and-effect relationships.
  • Involves:
    • selecting matched groups of subjects,
    • giving different treatments,
    • controlling unrelated factors, and
    • checking differences in group responses.
choosing the sample
Sample – segment of the population selected to represent the population as a whole.

Requires 3 Decisions:

Who is to be surveyed?

Sampling unit

How many people should be surveyed?

Sample size

How should the people in the sample be chosen?

Sampling procedure

Choosing the Sample
primary data collection1
Primary Data Collection

Research Instruments

  • Mechanical Devices
  • People Meters
  • Supermarket Scanners
  • Galvanometer
  • Eye Cameras
  • Questionnaires
  • What questions to ask
  • Form of each question
    • Closed-ended
    • Open-ended
  • Wording
  • Ordering
implementing the research plan
Implementing the Research Plan

Most Expensive & Subject to Error

Collecting the

Data

Research Plan

Processing the

Data

Analyzing the

Data

interpreting reporting findings

Step 1. Interpret the Findings

Interpreting & Reporting Findings

Managers and researchers must work together when interpreting research results.

Step 2. Draw Conclusions

Step 3. Report to Management

customer relationship management
Customer Relationship Management
  • Many companies utilize CRM
    • Capture customer information from all sources
    • Analyze it in depth
    • Apply the results to build stronger relationships.
  • Companies look for customer touch points.
  • CRM analysts develop data warehouses and use data mining techniques to find information out about customers.
distributing and using marketing information
Distributing and Using Marketing Information

NonroutineInformation for Special Situations

RoutineInformation for Decision Making

  • Information Must be Distributed
  • to the Right People at the Right Time

Intranets

Extranets

other marketing research considerations

Marketing Research in Small Businesses and Nonprofit

Organizations

International Marketing Research

Other Marketing Research Considerations

Public Policy and Ethics in Marketing Research

research services
Research Services

Roper ASW, Inc. provides companies with information resources “from Brazil to Eastern Europe; from Cape Town to Beijing—if you are there, Roper ASW, Inc. is there.”

Click Here to Visit RoperASW

rest stop reviewing the concepts
Rest Stop: Reviewing 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.
  • Explain how companies analyze and distribute marketing information.
  • Discuss the special issues some marketing researchers face, including public policy and ethics issues.
slide31

Q: Within the context of the marketing information system, marketing managers can access information from all of the following sources except:

1. competitor’s records. 

2. internal records. 

3. marketing intelligence. 

4. marketing research studies.

AK, 7e – Chapter 4

slide32
Q: Two major public policy and ethics issues in marketing research are intrusions on consumer privacy and:

1. cost of primary data. 

2. lack of information availability. 

3. misuse of research findings. 

4. government interference.

AK, 7e – Chapter 4

slide33

Q: Many people resent telemarketers, and there are two ways to tackle this issue: to legislate stricter controls for the industry and to allow self-regulation, which is preferred by the Direct Marketing Association. Which approach do you prefer?

1. Stricter regulation

2. Self-regulation

AK, 7e – Chapter 4