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Copyright © 2008 Pearson Education CanadaPrinciples of Marketing, Seventh Canadian Edition Chapter 5 Managing Marketing Information.

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Presentation on theme: "Copyright © 2008 Pearson Education CanadaPrinciples of Marketing, Seventh Canadian Edition Chapter 5 Managing Marketing Information."— Presentation transcript:

1 Copyright © 2008 Pearson Education CanadaPrinciples of Marketing, Seventh Canadian Edition Chapter 5 Managing Marketing Information

2 Copyright © 2008 Pearson Education CanadaPrinciples of Marketing, Seventh Canadian Edition 5-2 Learning Goals 1.Explain the importance of information to the company and its understanding of the marketplace 2.Define the marketing information system 3.Outline the steps in the market research process 4.Explain how companies analyze and distribute marketing information 5.Discuss the special issues some marketing researchers face, including public policy and ethical issues

3 Copyright © 2008 Pearson Education CanadaPrinciples of Marketing, Seventh Canadian Edition 5-3 Learning Goals 1.Explain the importance of information to the company and its understanding of the marketplace 2.Define the marketing information system 3.Outline the steps in the market research process 4.Explain how companies analyze and distribute marketing information 5.Discuss the special issues some marketing researchers face, including public policy and ethical issues

4 Copyright © 2008 Pearson Education CanadaPrinciples of Marketing, Seventh Canadian Edition 5-4 Case Study - Dove Born in 1957 as a beauty soap. It is sold in more than 80 countries with more than $5 billion in sales revenues. Dove is a powerful brand name. Consumers trust it and see it as honest but also as boring. Unilever needed to reposition the brand to make Dove a beauty brand. Need solid research and insight before the repositioning task could be undertaken.

5 Copyright © 2008 Pearson Education CanadaPrinciples of Marketing, Seventh Canadian Edition 5-5 Case Study - Dove Key question: how womens self-esteem is affected by body image Global survey and ethnographic research to understand the meaning of beauty and what women consider beautiful. –1% consider themselves beautiful –63% strongly agree women are expected to be more attractive than previous generation –9 year-old girls are dissatisfied with their body image –All women want to be beautiful in their own unique way –36% describe themselves as natural, few as sexy, stunning, or gorgeous. –Women explain beauty in a much broader sense

6 Copyright © 2008 Pearson Education CanadaPrinciples of Marketing, Seventh Canadian Edition 5-6 Case Study - Dove Time to change the definition of beauty Unilever launched the Campaign for Real Beauty –Women look at themselves and open a dialogue on what they consider as beauty –Campaign featuring everyday women (Fab? Or Fat?., Bald? Or Beautiful?). –Beyond Compare Photo Tour The resulting Marketing campaign won Unilever Canada multiple awards.

7 Copyright © 2008 Pearson Education CanadaPrinciples of Marketing, Seventh Canadian Edition 5-7 Learning Goals 1.Explain the importance of information to the company and its understanding of the marketplace 2.Define the marketing information system 3.Outline the steps in the market research process 4.Explain how companies analyze and distribute marketing information 5.Discuss the special issues some marketing researchers face, including public policy and ethical issues

8 Copyright © 2008 Pearson Education CanadaPrinciples of Marketing, Seventh Canadian Edition 5-8 Marketing Information System 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.

9 Copyright © 2008 Pearson Education CanadaPrinciples of Marketing, Seventh Canadian Edition 5-9 Marketing Information System Interacts with information users to assess information Develops needed information from internal and external sources Helps users analyze information for marketing decisions Distributes the marketing information and helps managers use it for decision making

10 Copyright © 2008 Pearson Education CanadaPrinciples of Marketing, Seventh Canadian Edition 5-10 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 Assessing Marketing Information Needs

11 Copyright © 2008 Pearson Education CanadaPrinciples of Marketing, Seventh Canadian Edition 5-11 Developing Marketing Information Information collected from different sources within the company, and stored within the organizations information system –Accounting system –Operations/production –Sales reporting system –Past research studies Internal data is cheap, quick, and easy May not be in a usable form for the decision to be made May be incomplete or inappropriate to a particular situation

12 Copyright © 2008 Pearson Education CanadaPrinciples of Marketing, Seventh Canadian Edition 5-12 Developing Marketing Information Marketing intelligence is the systematic collection and analysis of publicly available information about competitors and trends in the marketing environment. Proactive approach to keeping track of what is going on within the organizations marketing environment Many sources of competitive information exist: –Employees, customers, trade shows, websites, marketing communications, suppliers, resellers, professional information services, and dumpster diving

13 Copyright © 2008 Pearson Education CanadaPrinciples of Marketing, Seventh Canadian Edition 5-13 Developing Marketing Information Marketing research is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization. –A multi-step, purpose-driven process –Measure effectiveness of marketing actions, sales potential, try to understand consumer behaviour –Can be done by company personnel or contracted out to outside companies

14 Copyright © 2008 Pearson Education CanadaPrinciples of Marketing, Seventh Canadian Edition 5-14 Learning Goals 1.Explain the importance of information to the company and its understanding of the marketplace 2.Define the marketing information system 3.Outline the steps in the market research process 4.Explain how companies analyze and distribute marketing information 5.Discuss the special issues some marketing researchers face, including public policy and ethical issues

15 Copyright © 2008 Pearson Education CanadaPrinciples of Marketing, Seventh Canadian Edition 5-15 Helps to know what you are looking for! The manager and the researcher must work together. These objectives guide the entire process. Exploratory, descriptive, and causal research each fulfill different objectives. Step 1: Defining the problem and research objectives

16 Copyright © 2008 Pearson Education CanadaPrinciples of Marketing, Seventh Canadian Edition 5-16 Step 2: Developing the Research Plan Translating the research objectives into specific information needs Research plan is a written document which outlines the type of problem, objectives, data needed, and the usefulness of the results. Includes: – Secondary data: Information collected for another purpose which already exists – Primary data: Information collected for the specific purpose at hand

17 Copyright © 2008 Pearson Education CanadaPrinciples of Marketing, Seventh Canadian Edition 5-17 Gathering Secondary Data Secondary data sources: –Government information –Internal data, commercial, and academic sources –Publications –Online databases Advantages: –Obtained quickly –Less expensive than primary data Disadvantages: –Information may not exist or may not be usable

18 Copyright © 2008 Pearson Education CanadaPrinciples of Marketing, Seventh Canadian Edition 5-18 Primary Data Primary research decisions: –Research approaches –Contact methods –Sampling plan –Research instruments

19 Copyright © 2008 Pearson Education CanadaPrinciples of Marketing, Seventh Canadian Edition 5-19 Primary Data Research Approaches Contact Methods Sampling Plan Research Instrument Observation research using people or machines –Discovers behavior but not motivations Survey research –Effective for descriptive information Experimental research –investigates cause and effect relationships

20 Copyright © 2008 Pearson Education CanadaPrinciples of Marketing, Seventh Canadian Edition 5-20 Primary Data Research Approaches Contact Methods Sampling Plan Research Instrument Key Contact Methods include: –Mail surveys –Telephone surveys –Personal interviewing: – Individual or focus group –Online research

21 Copyright © 2008 Pearson Education CanadaPrinciples of Marketing, Seventh Canadian Edition 5-21 Primary Data Research Approaches Contact Methods Sampling Plan Research Instrument Sample: subgroup of population from whom information will be collected Sampling Plan Decisions: –Sampling unit –Sample size –Sampling procedure: – Probability samples – Non-probability samples

22 Copyright © 2008 Pearson Education CanadaPrinciples of Marketing, Seventh Canadian Edition 5-22 Primary Data Research Approaches Contact Methods Sampling Plan Research Instrument Questionnaires –Include open-ended and closed-ended questions –Phrasing and question order are key Mechanical instruments –Nielsens people meters –Checkout scanners –Eye cameras

23 Copyright © 2008 Pearson Education CanadaPrinciples of Marketing, Seventh Canadian Edition 5-23 Discussion Question A digital camera manufacturer wants to determine what is most important to older (50+) camera buyers Suggest a research approach, contact methods, sampling plan, research instruments ??

24 Copyright © 2008 Pearson Education CanadaPrinciples of Marketing, Seventh Canadian Edition 5-24 Step 3: Implementing the Research Plan Data is collected by the company or an outside firm The data is then processed and checked for accuracy and completeness and coded for analysis Finally the data is analyzed by a variety of statistical methods

25 Copyright © 2008 Pearson Education CanadaPrinciples of Marketing, Seventh Canadian Edition 5-25 The research interprets the finding, draws conclusions and reports to management Managers and researchers must work together to interpret results for useful decision making Step 4: Interpreting and Reporting the Findings

26 Copyright © 2008 Pearson Education CanadaPrinciples of Marketing, Seventh Canadian Edition 5-26 Learning Goals 1.Explain the importance of information to the company and its understanding of the marketplace 2.Define the marketing information system 3.Outline the steps in the market research process 4.Explain how companies analyze and distribute marketing information 5.Discuss the special issues some marketing researchers face, including public policy and ethical issues

27 Copyright © 2008 Pearson Education CanadaPrinciples of Marketing, Seventh Canadian Edition 5-27 Statistical analysis and analytical models are often used to help marketers make better decisions. Companies are turning to Customer relationship management (CRM) to manage detailed information about individual customers and touchpoints to maximize customer loyalty CRM consists of sophisticated software and analytical tools to provide a 360-degree view of the customer relationship. Analyzing Marketing Information

28 Copyright © 2008 Pearson Education CanadaPrinciples of Marketing, Seventh Canadian Edition 5-28 Analyzing Marketing Information CRM analysts develop data warehouses and use sophisticated data mining techniques to understand customer data CRM data systems offer many benefits and can help a firm gain a competitive advantage when used as part of a total CRM strategy

29 Copyright © 2008 Pearson Education CanadaPrinciples of Marketing, Seventh Canadian Edition 5-29 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 value-network members. Distributing and Using Marketing Information

30 Copyright © 2008 Pearson Education CanadaPrinciples of Marketing, Seventh Canadian Edition 5-30 Learning Goals 1.Explain the importance of information to the company and its understanding of the marketplace 2.Define the marketing information system 3.Outline the steps in the market research process 4.Explain how companies analyze and distribute marketing information 5.Discuss the special issues some marketing researchers face, including public policy and ethical issues

31 Copyright © 2008 Pearson Education CanadaPrinciples of Marketing, Seventh Canadian Edition 5-31 Other Considerations Marketing research in small businesses and not- for-profit organizations International marketing research Public policy and ethics –Consumer privacy issues –Misuse of research findings

32 Copyright © 2008 Pearson Education CanadaPrinciples of Marketing, Seventh Canadian Edition 5-32 Learning Goals 1.Explain the importance of information to the company and its understanding of the marketplace 2.Define the marketing information system 3.Outline the steps in the market research process 4.Explain how companies analyze and distribute marketing information 5.Discuss the special issues some marketing researchers face, including public policy and ethical issues


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