MKTG 360_Week 4_Marketing Research_S2008 (Students)

MKTG 360_Week 4_Marketing Research_S2008 (Students) -...

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Unformatted text preview: Marketing Research Lecture Overview Marketing Information System (MIS) Marketing Decision Support Systems (MDSS) Seven Steps in Marketing Research The Marketing Information System Determines what information marketing managers need, then gathers, sorts, analyzes, stores, and distributes information to system users Four Sources of Data in MIS 1. Internal Company Data Information on sales, who buys what, when, and how much, backorders, effect of marketing activities 1. Marketing Intelligence Much information available on web. Company sites, government sites, trade associations Futuristic scenarios (What if ?) Four Sources of Data in MIS 1. Marketing Research Collecting, analyzing, interpreting info about customers, competitors, business environment to improve marketing effectiveness Syndicated Research Collected by a different firm; firm then sells information to other businesses Custom Research Research conducted for a single firm to provide specific information managers need Four Sources of Data in MIS 1. Acquired Databases Other firms, government Misuse has led to government restrictions, do not call list Marketing Decision Support Systems Data plus analysis and interactive software allow marketing managers to access MIS data and conduct analyses (Fig. 4.3) Fig. 4.3 Marketing Decision Support Systems Data plus analysis and interactive software allow marketing managers to access MIS data and conduct analyses (Fig. 4.3) Fig. 4.3 Allows greater access to information: Comparing MIS to MDSS MIS What were our sales last month? MDSS Is increase in sales due to overall increase in industry sales, or something unique about our product? Data Mining Sophisticated analysis techniques that take advantage of large amount of customer transaction information, and discover patterns for different customer groups Helps to... Acquire new customers Know when to hold `em: Retain existing customers Know when to fold `em: Firing bad customers Market basket analysis: target custom. for related products Seven Steps in MKTG Research 1. Define the Research Problem Key questions, consumer groups of interest, set question in context (e.g., based on customer feedback) 1. Determine Research Design (Fig. 4.5) Secondary Research (internal, external sources) Primary Research (exploratory, descriptive, causal) Collected earlier for some other purpose Mapping it out... Collected to make a specific decision Secondary Research (Fig. 4.5) Primary Research (Fig. 4.5) Three Types of Primary Research 1. Exploratory Generates insights for future, more rigorous studies Consumer interviews (one on one) Focus group Product oriented group discussion led by moderator Projective technique Gets at underlying feelings, especially when they are difficult to express Case study Of a particular firm; e.g., who pulls the strings? Ethnography "Live" with people; figure out how they use Three Types of Primary Research 1. Descriptive (Quantitative) Probes more systematically into problem, bases conclusions on large number of observations Cross sectional Survey at a single point in time; no cause and effect Longitudinal Responses from same person at multiple times How do preferences change over time? 2. Causal Research Determine cause and effect relationships Independent variable = price; Dependent variable = sales. Seven Steps in MKTG Research 1. Choose Method for Collecting Data Typically either survey (mail, telephone, online) or observation (direct or unobtrusive) Table 4.3 adv./disadv. of different methods Quality of Data Is sample representative of broader population? Reliability are measures free from error? Validity does research measure what it intends to? Seven Steps in MKTG Research 1. Design the Sample Probability sampling Simple random sampling Everyone has same chance of getting in Systematic sampling Pick nth person after a random start Stratified Divide into groups, sample randomly in each group Nonprobability sampling Convenience sample Quota sampling sample in % to different groups Seven Steps in MKTG Research 1. Collect the Data Careful training is essential International research poses variety of problems Language, regulations, access, customs 2. Analyze/Interpret Data 3. Prepare report Executive summary, describe method/results, limitations, conclusions/recommendations for action ...
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This note was uploaded on 04/17/2008 for the course MKTG 360 taught by Professor Joireman during the Spring '08 term at Washington State University .

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