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Marketing Research. Aaker, Kumar, Day Eighth Edition Instructor’s Presentation Slides. Chapter One. A Decision Making Perspective on Marketing Intelligence. Business Intelligence. BI is the ability to access data from multiple sources within an organization for the purpose of analysis.

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Marketing research l.jpg

Marketing Research

Aaker, Kumar, Day

Eighth Edition

Instructor’s Presentation Slides

Marketing Research 8th Edition Aaker, Kumar, Day


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Chapter One

A Decision Making

Perspective on

Marketing Intelligence

Marketing Research 8th Edition Aaker, Kumar, Day


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Business Intelligence

  • BI is the ability to access data from multiple sources within an organization for the purpose of analysis.

  • It links the disparate operation systems to the end users of the data, thus creating an environment with free flow of information.

  • It offers a reliable barometer of the business performance.

  • The applications of BI tools are immense and can be profitable across different functions of an organization.

Marketing Research 8th Edition Aaker, Kumar, Day



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Need for Marketing Intelligence Kumar, Day

  • MI focuses on the use of information as a source of strategic advantage.

  • Need to have a thorough knowledge of customers, their attitudes, tastes and preferences.

  • Need to analyze competition for benchmarking and making price, product, market and segment decisions.

Marketing Research 8th Edition Aaker, Kumar, Day


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Marketing Research Kumar, Day

  • Marketing Research, a critical part of Marketing Intelligence helps by providing accurate, relevant and timely (ART) information.

  • Function of Marketing Research is to link an organization to its market through information

  • Identify and define marketing opportunity and problems

  • Generate, redefine and evaluate marketing actions

  • Monitor marketing performance

  • Improve understanding of marketing as a process

Marketing Research 8th Edition Aaker, Kumar, Day


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Role of Market Research Kumar, Day

  • Specifies information required

  • Designs method for collecting information

  • Manages and implements data collection process

  • Interprets results & communicates findings

Marketing Research 8th Edition Aaker, Kumar, Day


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Marketing Information System Kumar, Day

  • A continuing and interacting structure of people, equipment and procedures designed to gather, sort, analyze, evaluate, and distribute pertinent, timely and accurate information to marketing decision making

    MIS Uses 3 Types of Information

    • Recurring market and accounting data from market analysis and accounting activities

    • Intelligence relevant to future strategy of business

    • Marketing research studies not of a recurring nature

Marketing Research 8th Edition Aaker, Kumar, Day


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Role of Marketing Research in Managerial Decision Making Kumar, Day

Four Stages of Market Planning Process

  • Situation analysis

  • Strategy development

  • Marketing program development

  • Implementation

Marketing Research 8th Edition Aaker, Kumar, Day


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Situation Analysis Kumar, Day

Analysis of

  • Market environment

  • Market characteristics

  • Consumer behavior

    Research Approaches

  • Organize information obtained from prior studies (secondary)

  • Focus groups

Marketing Research 8th Edition Aaker, Kumar, Day


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Strategy Development Kumar, Day

Market Research Provides Information to Assist Management With Three Critical Decisions

  • What business should we be in?

  • How will we compete?

  • What are the objectives for the business?

Marketing Research 8th Edition Aaker, Kumar, Day


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Marketing Program Development Kumar, Day

  • Programs embrace specific tasks

  • Action program usually focuses on a single objective in support of one element of overall business strategy

Marketing Research 8th Edition Aaker, Kumar, Day


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Implementation Kumar, Day

  • Starts with decision to proceed to a new program or strategy

  • Commitment to objectives, budgets and timetables

  • Specific measurable objectives must be set for all elements of marketing program

  • "Did the elements achieve their objectives?"

  • “Should the marketing program be continued, discontinued, revised or expanded?"

Marketing Research 8th Edition Aaker, Kumar, Day


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Factors Influencing Marketing Research Decisions Kumar, Day

  • Relevance

  • Type and Nature of Information Sought

  • Timing

  • Availability of Resources

  • Cost-benefit Analysis

Marketing Research 8th Edition Aaker, Kumar, Day


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Ethics in Marketing Research Kumar, Day

Ethics of the Sponsor

  • Overt and covert purposes

  • Dishonesty in dealing with suppliers

  • Misuse of research information

    Ethics of the Supplier

  • Violating client confidentiality

  • Improper execution of research

    Respondents Abuse

  • Falsifying answers

Marketing Research 8th Edition Aaker, Kumar, Day


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Conquering Latino Homes Kumar, Day

  • Hispanics account for nearly 13% of the U.S. population.

  • Research shows that Latino households spend $600 billion of $1.3 trillion purchasing power of multicultural population.

  • In 1998 only 2.5% of total advertising dollars in the United States was focused on Latinos.

  • By 2050, Hispanic population would represent 25% of US population.

  • Who can tell me what the problem is?

Marketing Research 8th Edition Aaker, Kumar, Day


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P & G Luring Women with their Feminine Toothpaste Kumar, Day

  • P & G has came out with “Rejuvenating Effects” a gender specific toothpaste targeting the female customers, who do 82% of the grocery shopping.

  • The flavor and package of the product was decided on the basis of the results from a customer survey filled out by women.

  • Though, the product is priced slightly higher than the other brands P & G hopes to make women think about the toothpaste in the same light as skin care lotions and shampoo.

  • Who thinks they were right to try.

Marketing Research 8th Edition Aaker, Kumar, Day


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Daimler Chrysler Exploring New Markets Kumar, Day

  • Daimler Chrysler entered the small car segment with Java in response to the increased demand for small fuel efficient cars.

  • They envision a three car plan with an ultra small car at the bottom end, Java in the middle range and Mercedes A- class at the very top.

  • The company’s marketing research indicated that Java would be a success due to high demand and as the resultant pollution from small cars is low.

  • Who thinks they were right to try

Marketing Research 8th Edition Aaker, Kumar, Day


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Understand the environment and the market Kumar, Day

Identify threats and opportunities

Assess the competitive position

Situation

Analysis

Define the business scope and served market segments

Establish competitive advantages

Set performance objectives.

Strategy

Development

Marketing

Program

Development

Product and channel decision

Communication decisions

Pricing

Personal selling decisions

Implementation

Performance monitoring

Refining strategies and program

Marketing Research 8th Edition Aaker, Kumar, Day

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