kotler05_exs - Managing Marketing Information Chapter 5...

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Unformatted text preview: Managing Marketing Information Chapter 5 Objectives • Understand the importance of information to the company. • Know the definition of a marketing information system and be able to discuss its subparts. • Learn the steps in the marketing research process. 5­ 2 Objectives • Learn how companies analyze and distribute marketing information. • Realize the special issues some marketing researchers face, including public policy and ethical issues. 5­ 3 Case Study Coke • “New Coke” was a fiasco; consumer complaints resulted in the return of “Coke Classic” after only 3 months. • $4 million was spent researching “New Coke”. • Key issue: the research problem was too narrowly defined, and consumer feelings were ignored. • Poor judgment in result interpretation was also a problem. 5­ 4 Marketing Info. System • Marketing Information System (MIS) Consists of people, equipment, and procedures that gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers. 5­ 5 Marketing Info. System • Assessing Marketing Information Needs The MIS serves company managers as well as external partners. The MIS must balance needs against feasibility: Not all information can be obtained. Obtaining, processing, sorting, and delivering information is costly. 5­ 6 Marketing Info. System Developing Information • Internal data • Marketing intelligence • Marketing research • Internal data is gathered via customer databases, financial records, and operations reports. • Advantages of internal data include quick/easy access to information. • Disadvantages stem from the incompleteness or inappropriateness of data to a particular situation. 5­ 7 Marketing Info. System Developing Information • Internal data • Marketing intelligence • Marketing research • Marketing intelligence is the systematic collection and analysis of publicly available information about competitors and trends in the marketing environment. • Competitive intelligence gathering activities have grown dramatically. • Many sources of competitive information exist. 5­ 8 Marketing Info. System Sources of Competitive Intelligence • Company employees • Internet • Garbage • Published information • Competitor’s employees • Trade shows • Benchmarking • Channel members and key customers 5­ 9 Marketing Info. System Developing Information • Internal data • Marketing intelligence • Marketing research • Marketing research is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization. • Steps in the marketing research 5­ 10 Marketing Info. System • Steps in the Marketing Research Process: Defining the problem and research objectives. Developing the research plan for collecting information. Implementing the research plan – collecting and analyzing the data. Interpreting and reporting the findings. 5­ 11 Marketing Info. System • Step 1: Defining the problem and research objectives Don’t confuse the symptoms of the problem with its cause when defining the problem. Exploratory, descriptive, and causal research each fulfill different objectives. 5­ 12 Marketing Info. System • Step 2: Developing the Research Plan Research objectives guide the determination of specific information needs. Research proposals outline the type of data needed and the research plan. Secondary data: Information collected for another purpose which already exists. Primary data: Information collected for the specific purpose at hand 5­ 13 Marketing Info. System Types of Data • Secondary data • Primary data • Secondary data sources: Government information Internal, commercial, and online databases Publications Obtained quickly Less expensive than primary data Information may not exist or may not be usable. 5­ 14 • Advantages: • Disadvantages: Marketing Info. System Evaluate the Following When Judging Data Quality • Relevance • Accuracy • Currency • Impartiality 5­ 15 Marketing Info. System Types of Data • Secondary data • Primary data • Planning primary research: Research approaches: Contact methods: Observation, survey, experiment Sampling plan: Mail, telephone, online, personal Sampling unit, sample size, sampling procedure Questionnaire, mechanical instruments 5­ 16 Research instruments: Marketing Info. System • Research approaches: Observation research using people or machines Mystery shoppers, traffic counters, web site “cookies” are some examples. Discovers behavior but not motivations. Ethnographic research expands observation research to include consumer interviews. 5­ 17 Marketing Info. System • Research approaches: Survey research is widely used to gather descriptive information. Single source data systems gather Experimental research investigates cause and effect relationships. information from consumer panels Survey research faces many problems 5­ 18 Marketing Info. System • Key Contact Methods Include: Mail surveys Telephone surveys Personal interviewing: Online (Internet) research Individual or focus group • Each contact method has strengths and weaknesses 5­ 19 Marketing Info. System Strengths and Weaknesses of Contact Methods Relate to: • Flexibility • Sample control • Data quantity • Cost • Interviewer effects • Speed of data collection • Response rate 5­ 20 Marketing Info. System • Sample: subgroup of population from whom information will be collected • Sampling Plan Decisions: Sampling unit Sample size Sampling procedure: Probability samples Non­probability samples 5­ 21 Marketing Info. System • Research Instruments: Questionnaires Include open­ended and closed­ended Mechanical instruments questions Phrasing and question order are key 5­ 22 Marketing Info. System • Step 3 of the Research Process: Implementing the Research Plan • Step 4 of the Research Process: Interpreting and Reporting the Findings 5­ 23 Involves collecting, processing, and analyzing information. Marketing Info. System • Analyzing Marketing Information Customer relationship management (CRM) helps manage information. CRM offers many benefits and can help a firm gain a competitive advantage. Technology alone cannot build profitable customer relationships. 5­ 24 Marketing Info. System • Distributing and Using Marketing Information Routine reporting makes information available in a timely manner. User friendly databases allow for special queries. Intranets and extranets help distribute information to company employees and value­network members. 5­ 25 Other Considerations • Marketing research in small businesses and not­for­profit organizations • International marketing research • Public policy and ethics • Misuse of research findings 5­ 26 Consumer privacy issues ...
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This note was uploaded on 06/28/2010 for the course MKTG 00HP01 taught by Professor Himanshu during the Spring '10 term at Indiana Institute of Technology.

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