05 - Information - CHAPTER 5 MARKETING INFORMATION...

Info iconThis preview shows pages 1–21. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: CHAPTER 5 MARKETING INFORMATION MARKETING INFORMATION Definition and Use of Information Data Bases in Marketing Types of Data Marketing Research Process DEFINITION OF INFORMATION Information is data that is judged useful by a decision maker THE “ME” INFORMATION AGE “I can now work and communicate from anywhere to anywhere with anything at any time” •Cell phones •E-mails •Internet USE OF INFORMATION Information is power Information is not neutral Information can be used strategically STRATEGIC INFORMATION Far better an approximate answer to the right question, which is often vague, than an exact answer to the wrong question. DATA BASES IN MARKETING Scanning Data Customer Data Data Mining CRM DATA MINING WalMart Amazon.com Richmond Police CUSTOMER RELATIONSHIP MANAGEMENT (CRM) Develop Customer Data Base Identify Individual Customer Preferences Contact Most Important Customers TYPES OF DATA Secondary Internal Data Secondary External Data Primary Observation Data Primary Questioning Data SECONDARY INTERNAL DATA Accounting Data Financial Data Sales Data SECONDARY EXTERNAL DATA Census Data Libraries Courthouses PRIMARY OBSERVATION DATA Retail price shopping images kids play Satellite Observing with toys PRIMARY QUESTIONING DATA Personal interviews interviews Telephone Self-questionnaires Focus Group Interviews FOCUS GROUP INTERVIEWS Interviewing 8 - 12 people in a group Advantages Inexpensive Fast to collect data Disadvantages May not represent target market Cannot measure sampling error MARKETING RESERCH PROCESS WHAT INFORMATION IS NEEDED? DATA COLLECTION DATA ANALYSIS SAMPLE DESIGNS PROBABILITY SAMPLE • The selection of sample units are randomly selected from the universe NONPROBABILITY SAMPLE • The selection of sample units are not randomly selected from the universe SAMPLE CHOICES TARGET MARKET SAMPLE Random Sample Non-Random Sample PROBABILITY SAMPLES Random Area or Cluster Stratified NON-PROBABILITY SAMPLES Convenience Judgment Quota SAMPLING BIASES Collection Bias • Frame error • Noncontract Response Bias • Refusal to accept role • Respondent bias Question Wording Bias • Ability to answer • Loaded question ...
View Full Document

This note was uploaded on 04/24/2010 for the course MARK 3336 taught by Professor Cox during the Spring '10 term at University of Houston - Downtown.

Page1 / 21

05 - Information - CHAPTER 5 MARKETING INFORMATION...

This preview shows document pages 1 - 21. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online