Marketing Research & MIS Slide 1© Associate Professor Dr. Jamil Bojei, 2007.
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Transcript of Marketing Research & MIS Slide 1© Associate Professor Dr. Jamil Bojei, 2007.
![Page 1: Marketing Research & MIS Slide 1© Associate Professor Dr. Jamil Bojei, 2007.](https://reader035.fdocuments.in/reader035/viewer/2022062308/56649e3b5503460f94b2e029/html5/thumbnails/1.jpg)
Marketing Research & MIS
Slide 1© Associate Professor Dr. Jamil Bojei, 2007
![Page 2: Marketing Research & MIS Slide 1© Associate Professor Dr. Jamil Bojei, 2007.](https://reader035.fdocuments.in/reader035/viewer/2022062308/56649e3b5503460f94b2e029/html5/thumbnails/2.jpg)
Marketing Research & MIS
Slide 2© Associate Professor Dr. Jamil Bojei, 2007
WHY WE NEED MARKETING RESEARCH?
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Marketing Research & MIS
Slide 3© Associate Professor Dr. Jamil Bojei, 2007
INFORMATION IS POWER
No Information – Weakness/Vulnerability
Lack of objectives & Direction
Faulty Plans and Strategies
Poor Defense & Low Entry Barriers
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Marketing Research & MIS
Slide 4© Associate Professor Dr. Jamil Bojei, 2007
INFORMATION IS POWER
Information merely provides the environment for reducing/eliminating weaknesses BUT
does not automatically provide a competitive edge,
HENCE,
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Marketing Research & MIS
Slide 5© Associate Professor Dr. Jamil Bojei, 2007
…”STRATEGIC USE OF INFORMATION IS REAL POWER
• Use the right information Concise rather than voluminous information Reliable/verified information rather than
information from unknown/questionable sources
Objective information than opinions and hearsay
Relevant rather than impressive information Actionable rather than interesting information
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Marketing Research & MIS
Slide 6© Associate Professor Dr. Jamil Bojei, 2007
ROLES OF MARKETING RESEARCH
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Marketing Research & MIS
Slide 7© Associate Professor Dr. Jamil Bojei, 2007
Uncontrollable Environmental
Factors• Economy• Technology• Competition• Laws and
Regulation• Social and Cultural
Factors• Political Factors
Assessing Information
Needs
Customer Groups• Consumers• Employees• Channel Members• Suppliers
MarketingResearch
Marketing Managers•Market Segmentation •Marketing Programs •Target Market Selection •Performance and Control
Controllable Marketing Variables
• Product• Pricing• Promotion• Distribution
Marketing DecisionMaking
Providing Information
The Role of Marketing Research in Marketing Decision Making
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Marketing Research & MIS
Slide 8© Associate Professor Dr. Jamil Bojei, 2007
ROLES OF MARKETING RESEARCH
“The role of a marketing research must include consulting skills, technical proficiency, and sound management. The focus of the role is to provide information to identify marketing problem and solutions in such a way that action can be taken.”
Ron Tatham, Chairman, Burke, Inc.
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Marketing Research & MIS
Slide 9© Associate Professor Dr. Jamil Bojei, 2007
The Role of Marketing ResearchMarketing Research
A Formal Communication Link with the Environment
Provide Accurate and Useful Information
Better Decision Making
a) Planningb) Problem-solvingc) Control
a) Specifyingb) Collectingc) Analyzingd) Interpreting
For
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Marketing Research & MIS
Slide 10© Associate Professor Dr. Jamil Bojei, 2007
Kinds of Questions Marketing Research Can Help Answer
I PlanningA. What kinds of people buy our product?
Where do they live? How much do they earn?How many of them are there?
B. Is the market for our product increasing or decreasing?Are there promising markets that we have not yet reached?
C Are there markets for our product in other countries?
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Marketing Research & MIS
Slide 11© Associate Professor Dr. Jamil Bojei, 2007
Kinds of Questions Marketing Research Can Help Answer
II Problem Solving
A.A. ProductProduct
B. Price
C. Channels of Distribution
D. Communication
• Which, of various product Which, of various product designs, is likely to be the designs, is likely to be the successful?successful?
• What kind of packaging What kind of packaging should we use our product?should we use our product?
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Marketing Research & MIS
Slide 12© Associate Professor Dr. Jamil Bojei, 2007
Kinds of Questions Marketing Research Can Help Answer
II Problem Solving
A. Product
B.B. PricePrice
C. Channels of Distribution
D. Communication
• What price should we charge What price should we charge for our new product?for our new product?
• As product costs decline, As product costs decline, should we lower our prices or should we lower our prices or try to develop a higher try to develop a higher quality product?quality product?
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Marketing Research & MIS
Slide 13© Associate Professor Dr. Jamil Bojei, 2007
Kinds of Questions Marketing Research Can Help Answer
II Problem Solving
A. Product
B. Price
C.C. Channels of Channels of DistributionDistribution
D. Communication
• Where, and by whom should Where, and by whom should our product be sold?our product be sold?
• What kinds of incentives What kinds of incentives should we offer to induce should we offer to induce dealers to push our product?dealers to push our product?
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Marketing Research & MIS
Slide 14© Associate Professor Dr. Jamil Bojei, 2007
Kinds of Questions Marketing Research Can Help Answer
II Problem Solving
A. Product
B. Price
C. Channels of Distribution
D.D. CommunicationCommunication
• How effective is our advertising? How effective is our advertising? Are the right people seeing it? Are the right people seeing it? How does it compare with the How does it compare with the competition’s advertising?competition’s advertising?
• What kinds of sales promotional What kinds of sales promotional devices-coupons, contests, devices-coupons, contests, rebates, and so forth-should we rebates, and so forth-should we employ?employ?
• What combination of media-What combination of media-newspaper, radio, television, newspaper, radio, television, magazines-should we use?magazines-should we use?
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Marketing Research & MIS
Slide 15© Associate Professor Dr. Jamil Bojei, 2007
III Control
A. What is our overall market share? In each geographic area? By each customer type?
B. Are customers satisfied with our product? How is our record for service? Are there many returns?
C. How does the public perceive our company? What is our reputation with dealers?
Kinds of Questions Marketing Research Can Help Answer
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Marketing Research & MIS
Slide 16© Associate Professor Dr. Jamil Bojei, 2007
Problem Identification
Research
•Market Potential Research•Market Share Research•Image Research•Market Characteristics Research•Forecasting Research•Business Trends Research
Marketing Research
A Classification of Marketing Research
Problem Solving
Research
•Segmentation Research
•Product Research
•Pricing Research
•Promotion Research
•Distribution Research
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Marketing Research & MIS
Slide 17© Associate Professor Dr. Jamil Bojei, 2007
PROBLEM IDENTIFICATION VS PROBLEM SOLVING RESEARCH
• Problem identification Research that is undertaken to help identify
problems that are not necessary apparent on the surface and yet exist or are likely to arise in the future.
• Problem solving research Research undertaken to help solve specific
marketing problems.
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Marketing Research & MIS
Slide 18© Associate Professor Dr. Jamil Bojei, 2007
Marketing Research Industry: Supplier and Services
Research Suppliers
Internal
Limited Service
Full Service
External
Other ServicesField ServicesCustomized Services
Syndicated Services Internet
Services
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Marketing Research & MIS
Slide 19© Associate Professor Dr. Jamil Bojei, 2007
Marketing Research Suppliers & Services• Internal suppliers • External suppliers
Full-service suppliers • Syndicated services• Standardized services• Customized services• Internet services
Limited-service suppliers • Field services• Coding and data entry services • Analytical services • Data analysis services• Branded marketing research products
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Marketing Research & MIS
Slide 20© Associate Professor Dr. Jamil Bojei, 2007
Selected Marketing Research Career Descriptions
Vice President of Marketing Research
• Part of company’s top
management team
• Directs company’s entire market
research operation
• Sets the goals & objectives of the
marketing research department
Research Director
• Also part of senior
management
• Heads the development
and execution of all
research projects
Assistant Director of Research
•Administrative assistant to director
•Supervises research staff members
Senior Project Manager• Responsible for design, implementation, & research projects
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Marketing Research & MIS
Slide 21© Associate Professor Dr. Jamil Bojei, 2007
Analyst• Handles details in execution of
project• Designs & pretests questionnaires• Conducts preliminary analysis of
data
Junior Analyst• Secondary data analysis• Edits and codes questionnaires• Conducts preliminary analysis of data
Fieldwork Director• Handles selection, training, supervision, and evaluation of interviewers and field workers
Senior Analyst• Participates in the development of projects• Carries out execution of assigned projects• Coordinates the efforts of analyst, junior analyst, & other personnel in the
development of research design and data collection• Prepares final report
Statistician/Data Processing• Serves as expert on theory and
application on statistical techniques• Oversees experimental design, data
processing, and analysis
Selected Marketing Research Career Descriptions
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Marketing Research & MIS
Slide 22© Associate Professor Dr. Jamil Bojei, 2007
Criteria for Selecting a Research Supplier What is the reputation of the supplier? Do they complete projects on schedule? Are they known for maintaining ethical standards? Are they flexible? Are their research projects of high quality? What kind and how much experience does the
supplier have? Has the firm had experience with projects similar to this one?
Do the supplier's personnel have both technical and non-technical expertise?
Can they communicate well with the client? Competitive bids should be obtained and compared on
the basis of quality as well as price.
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Marketing Research & MIS
Slide 23© Associate Professor Dr. Jamil Bojei, 2007
THE MARKETING INFORMATION SYSTEM
• MIS consists of people, equipment, and procedures to gather,sort, analyze, evaluate, and distribute needed, timely and accurate information to marketing decision makers.
• The MIS helps managers to: Assess information needs Develop needed information Distribute information
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Marketing Research & MIS
Slide 24© Associate Professor Dr. Jamil Bojei, 2007
THE MARKETING INFORMATION SYSTEM
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Marketing Research & MIS
Slide 25© Associate Professor Dr. Jamil Bojei, 2007
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Marketing Research & MIS
Slide 26© Associate Professor Dr. Jamil Bojei, 2007
Marketing Information System
• Internal records system Marketing managers rely on internal reports on
orders, sales, prices, cost, inventory levels, receivables, payables, and so on. By analyzing this information, they can spot important opportunities and problems.
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Marketing Research & MIS
Slide 27© Associate Professor Dr. Jamil Bojei, 2007
Marketing Information System• Marketing intelligence system
is a set of procedures and sources used by managers to obtain everyday information about development in the marketing environment.
Marketing managers collect marketing intelligence by reading books, newspapers, and trade publications; talking to customers, suppliers, and distributors; and meeting with other company managers.
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Marketing Research & MIS
Slide 28© Associate Professor Dr. Jamil Bojei, 2007
Marketing Information System• Marketing decision support system
Is defined as collected data that may be assessed and analyzed using tools and techniques that assists manager in decision making.
Once companies collect large amount of information, they store this information in huge databases that, when assessed with decision-making tools and techniques (such as break-even analysis, regressions models, and linear programming), allow companies to ask “what-if” questions. Answers to these questions are then immediately available for decision making.
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Marketing Research & MIS
Slide 29© Associate Professor Dr. Jamil Bojei, 2007
Marketing Information System• Marketing Research system
Marketing managers often commission marketing studies of specific problems and opportunities. They may request a market survey, a product-preference test, a sales forecast by region, or an advertising evaluation. It. it is the job of the marketing researcher to produce customer insight into the problem.
We define marketing research as the systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company.
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Marketing Research & MIS
Slide 30© Associate Professor Dr. Jamil Bojei, 2007
Expert Systems
Internal Billing,
Production, and Other Records
Decision SupportSystems
MarketingInformation
Systems
The Development of MIS and DSS
=External Market
Information+
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Marketing Research & MIS
Slide 31© Associate Professor Dr. Jamil Bojei, 2007
MIS
• Structured problems
• Use of reports
• Information displaying restricted
• Can improve decision making by clarifying new data
Marketing Information Systems (MIS) vs.
Decision Support Systems (DSS)
DSS
• Unstructured problems
• Use of models
• Adaptability
• Can improve decision making by using “what if” analysis
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Marketing Research & MIS
Slide 32© Associate Professor Dr. Jamil Bojei, 2007
Stakeholders in Marketing Research:
An Ethical Perspective
Client
MarketingResearcher
Public
Respondents