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marketing chapter 39 - Chapter 4 Managing Marketing...

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Chapter 4 Managing Marketing Information Previewing the Concepts—Chapter Objectives 1. Explain the importance of information to the company and its understanding of the marketplace. 2. Define the marketing information system and discuss its parts. 3. Outline the steps in the marketing research process. 4. Explain how companies analyze and distribute marketing information. 5. Discuss the special issues some marketing researchers face, including public policy and ethics issues. J UST THE B ASICS Chapter Overview As the textbook points out, to be successful, marketing managers must on a daily basis deal with mountains of marketing information. They need to understand what they need to know, when they need to know it, and how to find the information they need. And, they must do all of this cost-effectively. This chapter reviews marketing information systems that work to get the right information, in the right form, at the right time to marketing managers so that they can make effective decisions. The marketing research process is also considered and outlined, as well as the use of marketing intelligence and internal data. Finally, other marketing information considerations are discussed. These include how small business and non- profit organizations use market research, the special problems encountered in performing international marketing research, and public policy and ethical considerations that need to be addressed in marketing research. Chapter Outline 1. Introduction a. Over 50 years, Coach has developed a strong following for classically styled, high-quality leather handbags and accessories. b. In the early years, Coach didn’t need a lot of marketing research because handbags were largely functional and women bought only two per year. c. By the mid-1990s, sales at Coach started to slow. As women entered the workforce, they needed different types of bags. 89
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d. Women wanted more stylish and colorful bags, and high-end designers such as Gucci and Chanel were responding to these trends. e. It was time for a change, but Coach needed marketing research to gain a better understanding of the new handbag buyer. f. Based on extensive marketing research, Coach overhauled its strategy and helped engineer a shift in the way women shop for handbags. g. Research revealed that women wanted more fashion in their handbags, so Coach launched the “Signature” collection. h. Research led Coach to discover a “usage void” and design a small bag with a strap called the “wristlet” at prices as low as $38. i. Research also led Coach to learn that women were increasingly interested in non-leather bags. The company designed the “Hamptons Weekend” line of fabric bags. j. Coach watches its customers closely, looking for trends that might suggest voids to fill.
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