Information for Marketing Decisions Evans & Berman Chapter 4.
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Transcript of Information for Marketing Decisions Evans & Berman Chapter 4.
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Information for Marketing Decisions
Evans & Berman
Chapter 4
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Copyright Atomic Dog Publishing, 2002
Chapter Objectives
To show why marketing information is needed
To explain the role and importance of marketing information systems
To examine a basic marketing information system, commercial data bases, data-base marketing, and examples of MIS in action
To define marketing research and its components and to look at its scope
To describe the marketing research process
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Copyright Atomic Dog Publishing, 2002
Good Marketing InformationEnables Marketers To:
Gain a competitive edge Reduce financial and image risks Determine consumer attitudes Monitor the environment Gather competitive intelligence Coordinate strategy Measure performance Improve advertising credibility Gain management support for decisions Verify intuition Improve effectiveness
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Copyright Atomic Dog Publishing, 2002
Good Information Also Allows
Marketers to: Assess SWOT Take Appropriate
Action in Environment
Maximize Performance
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Copyright Atomic Dog Publishing, 2002
Intuition Is Not Enough
Relying on: Intuition Executive judgment Past experience is
insufficient.
Continuous monitoring of the environment and SWOT analysis must be maintained.
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Copyright Atomic Dog Publishing, 2002
The Scientific Method
It is imperative, when collecting and analyzing marketing information, to use the Scientific Method OAT,and to be:
ObjectiveAccurateThorough
Information Age Knowledge Worker
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Copyright Atomic Dog Publishing, 2002
Interrelationships of Marketing
Information Gathering
Marketing Information System (MIS)
Marketing Research Process
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Copyright Atomic Dog Publishing, 2002
Marketing Information System
An MIS is a "set of procedures and
methods designed to generate, analyze, disseminate, and store anticipated marketing decision information on a regular, continuous basis."
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Copyright Atomic Dog Publishing, 2002
Customer Data Base
Targeting Customers
Tracking Activities Profiling
and Sorting
Flexible Reports
Mass Mail
Follow-upLetters
Auto Dialing
Remote Access
Output
Global E-mail
Interactive
Tech Documents
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Copyright Atomic Dog Publishing, 2002
Environment Company Objectives
Marketing Plans
Marketing Intelligence Network
•Marketing Research
•Continuous Monitoring
•Data Warehouse
Implementing Marketing Plans
Implementation
Feedback
A Basic Marketing Information System
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Copyright Atomic Dog Publishing, 2002
Plentiful data, once beyond reach, is here.
Extensive commercial data sources are now available for research.
Volumes of Census data are now on Web and CDs.
Multiple sources of information are now transmitted rapidly via Internet and Intranet, and stored in Data Warehousing.
Through data-base marketing, companies can effectively reach and interact with customers.
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Copyright Atomic Dog Publishing, 2002
Fully Integrated Data-Base Marketing
Marketing and Sales Systems
• Campaign Planning
• Market/competitor analysis
• Field sales support
• Telemarketing
• Direct Mail
• Sales force management
Marketing Data Base
Customers Prospects Suspects
Financial and Operational
Systems
• Order entry
• Inventory control
• Billing
• Collections/accounts receivables, etc.
Company Planning
• Strategic planning
• Research and development
• Product planning
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Copyright Atomic Dog Publishing, 2002
MIS in Action
An in-depth study found that: More than 3/4 of U.S. firms have a
marketing information system Of those, 95 percent are computer-
based Most believe MIS is critical to
decision making Many use annual reports, sales call
reports, and purchased reports to amass competitive intelligence
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Copyright Atomic Dog Publishing, 2002
Marketing Research Involves collecting,
tabulating, and analyzing data about specific issues related to the marketing of goods, services, organizations, people, places, and ideas.
Global marketing research expenditures
total several billions of dollars each year.
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Copyright Atomic Dog Publishing, 2002
Single-Source Data Collection
TV, Shopping,
and Computer
Habits
This is a result of high-tech advances. It facilitates the tracking activities of individual consumer households.
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Copyright Atomic Dog Publishing, 2002
Ethical Considerations
Business Consumer
Technology has both elicited and compounded the escalation of ethical research issues and global considerations, forcing marketers to weigh all research methodologies very carefully.
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Copyright Atomic Dog Publishing, 2002
The Marketing Research Process
2. Examination of Secondary
Data
3. Generation of Primary Data
4. Analysis of Data
5. Recommendations
6. Implementation of Findings
1. Issue (Problem)
Definition
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Copyright Atomic Dog Publishing, 2002
Secondary
Data
Internal
External
Accounts Receivables/ Payables
P & L Statements
Government Publications, such as Census Figures
Nongovernment Publications
Primary Data
Survey
ObservationExperiment
Simulation
In person
Telephone
Human
Mechanical
Internet
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Copyright Atomic Dog Publishing, 2002
1. Identify Problem/Issue
Single greatest challenge
Involves developing a focused statement
Often requires exploratory research to gain ideas and insights
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Copyright Atomic Dog Publishing, 2002
Issue (Problem) Definition
Develop statement regarding issue to be investigated.
Conduct exploratory research, also called ‘qualitative’ research.
Refine statement regarding issue to be investigated.
Once the issue is clarified, conclusive research, also called ‘quantitative’ research, is used.
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Copyright Atomic Dog Publishing, 2002
Basic Definition Steps Include:
Statement of Objectives Identify Core Component of Needs
R.O.I.? Or Increase Market
Share?
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Copyright Atomic Dog Publishing, 2002
2. Examination of Secondary Data
Secondary data have been previously gathered for purposes other than current research. Secondary data:
are existing data have been previously generated for other reasons should always be reviewed before any new data are
generated
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Copyright Atomic Dog Publishing, 2002
Secondary Data
Internal
External
Accounts Receivables/ Payables
P & L Statements
Government Publications,such as Census Figures
Nongovernment Publications
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Copyright Atomic Dog Publishing, 2002
Internal Secondary Sources
Budgets Sales figures P & L statements Accounts receivable
and payable All prior research
Old Stuff
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Copyright Atomic Dog Publishing, 2002
Secondary Data: External
Outside Company: Government: Census
Data, Department of Labor
Nongovernment: Commercial research organizations, publications such as magazines and books
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Copyright Atomic Dog Publishing, 2002
Advantages of Secondary Data
Inexpensive Available Speedy Inside, "confidential"
information Credible sources Aids exploratory
research
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Copyright Atomic Dog Publishing, 2002
Disadvantages of Secondary Data
May be obsolete May lack suitability Questionable
methodologies Undisclosed findings Conflicting results Reliability may not be
proven
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Copyright Atomic Dog Publishing, 2002
3. Primary Data
Primary data relate to a specific marketing issue. Primary data are:
collected to solve specific problem at hand necessary when available secondary data may be
insufficient usually required for conclusive research
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Copyright Atomic Dog Publishing, 2002
Primary Data
Advantages Precise Current Known methodology Secret Reliability
Disadvantages High costs Time consuming Perspective may be
limited Corporate limitations
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Copyright Atomic Dog Publishing, 2002
Primary Data
Survey
ObservationExperiment
Simulation
In person
Telephone
Human
Mechanical
Internet
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Copyright Atomic Dog Publishing, 2002
Types of Primary Data Collection
Survey: Communicates in person, by phone, by mail, or by Internet, and gathers information from respondents.
Observation: Views and notes consumer behavior.
Experiment: One or more factors manipulated under controlled conditions.
Simulation: A computer based method to test variables replicating real-world applications.
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Copyright Atomic Dog Publishing, 2002
Survey Instrument: Semantic Differential
Survey technique Uses bipolar (opposite)
adjective scales to develop a consumer profile regarding item under consideration
Could describe company person products idea
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Copyright Atomic Dog Publishing, 2002
Research Design Outline
Who collects data? What information:
exploratory/conclusive? Who or what to be
studied? Technique to be used?
(survey/observation experiment/simulation)
Other considerations: Cost Factors? Methodology? Time Frame? When & Where?
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4. Data Analysis
Questionnaire information is coded and numbered.
Response categories are labeled.
Tabulations calculate summary data for each response category.
Analysis is the evaluation of responses, usually by statistical techniques, pertaining to the question under investigation.
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Copyright Atomic Dog Publishing, 2002
5. Recommendations
Firm's future actions are based on research findings.
The report is written in language for the intended audience.
They incorporate a rationale and findings.
Research reports should be kept in the data warehouse of a firm’s marketing intelligence network for future reference.
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Copyright Atomic Dog Publishing, 2002
6. Implementation of Findings
Research reports represent feedback to marketing managers.
These managers are responsible for utilizing findings to achieve short-term and long-term goals.
Implementation works best when marketing managers take part in research design, have broad control over marketing decisions, and have confidence that results are accurate.
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Copyright Atomic Dog Publishing, 2002
Chapter Summary This chapter describes why marketing information is
needed. It explains the role and importance of marketing
information systems. It examines a basic marketing information system,
commercial data bases, data-base marketing, and shows examples of MIS in action.
It defines marketing research and its components and looks at its scope.
It describes the marketing research process.