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Essentials of Marketing Chapter 7 Improving Decisions with Marketing Information McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc.

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Presentation on theme: "Essentials of Marketing Chapter 7 Improving Decisions with Marketing Information McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc."— Presentation transcript:

1 Essentials of Marketing Chapter 7 Improving Decisions with Marketing Information McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved.

2 At the end of this presentation, you should be able to: 1.Know about marketing information systems. 2.Understand the scientific approach to marketing research. 3.Know about methods for collecting secondary and primary data. 4.Understand the role of observing, questioning, and using experimental methods in marketing research. 5.Understand important new terms. 7–2

3 Effective Marketing Requires Good Information 7–3

4 Marketing Information Inputs to Marketing Strategy Planning Decisions (Exhibit 7-1) Information for marketing decisions Marketing information systems Accessing multimedia data Data warehouse Decision support systems Marketing models Marketing information systems Accessing multimedia data Data warehouse Decision support systems Marketing models Marketing Research Role of research specialist Scientific method Steps in marketing research 1.Define problem 2.Analyze situation 3.Gather problem-specific data 4.Interpret the data 5.Solve the problem Marketing Research Role of research specialist Scientific method Steps in marketing research 1.Define problem 2.Analyze situation 3.Gather problem-specific data 4.Interpret the data 5.Solve the problem 7–4

5 Who Does the Work? 7–5

6 Effective Research Requires Cooperation That marketing research geek doesn’t understand my business—she doesn’t even know my competitors! That overpaid Gen Y is clueless—she doesn’t even know how a chi-square is computed! 7–6

7 Changes Are Under Way in Marketing Information Systems An Intranet Is Easy to Update An Intranet Is Easy to Update Get More Information— Faster and Easier Get More Information— Faster and Easier MIS Makes Information Available and Accessible MIS Makes Information Available and Accessible 7–7

8 Elements of a Complete Marketing Information System (Exhibit 7-2) 7–8

9 The Impact of an MIS Information for implementation, planning and control Many Firms Are Not There Yet 7–9

10 Research is a Bridge to Customers 7–10

11 Five-Step Scientific Approach to Marketing Research Process (Exhibit 7-3) Analyzing the situation Getting problem- specific data Interpreting the data Solving the problem Early identification of solution Feedback to previous steps Defining the problem 7–11

12 Defining the Problem—Step 1 Problems vs. Symptoms Finding the Right Problem Level Setting Research Objectives 7–12

13 Analyzing the Situation—Step 2 What Information Do We Already Have? Situation Analysis Helps Educate a Researcher 7–13

14 Checking Your Knowledge Edna Bates, a marketing researcher who is an expert in customer satisfaction research, is asked by a client to conduct a study dealing with a completely unfamiliar research topic. Edna consults secondary data to gain more insight about this unfamiliar area. Edna is engaged in the _________ stage of the marketing research process. A. problem definition B. situation analysis C. gathering problem-specific data D. data interpretation E. solving the problem 7–14

15 Sources of Secondary and Primary Data (Exhibit 7-4) Secondary data sources Primary data sources All data sources 7–15

16 Private Sources Are Useful Too 7–16

17 The Bottom Line on Secondary Data Situation Analysis—A Lot For a Little What Else Is Needed? Research Proposal Key Issues 7–17

18 Questioning Observing Getting Problem-Specific Data—Step 3 Primary Data 7–18

19 Focus Groups Stimulate Discussion 7–19

20 Structured Questioning Gives More Objective Results Can be summarized in numbers Seeks structured responses Faster response & analysis Quantitative Research 7–20

21 Surveys Come in Many Forms Personal Interview Mail and Online Telephone Primary Methods for Collecting Survey Data 7–21

22 Checking Your Knowledge A researcher wants to study 1,000 consumers and needs information about a lot of personal and sensitive issues. Which of the following would be the best way to gather this information? A. Mail survey B. Focus group C. Telephone survey D. Face-to-face interview E. Experiment 7–22

23 Observing—What You See Is What You Get Checkout Scanners “See” A Lot Observation Is Common in Advertising Research Web site Analysis Consumer Panels 7–23

24 Illustration of Experimental Method in Comparing Effectiveness of Two Ads (Exhibit 7-5) Half of the people see Ad #1 Half of the people see Ad #2 Average for group who saw Ad #1 = 3.2 Average for group who saw Ad #2 = 4.6 Representative group of customers Difference in response between two groups Average product interest rating by group Groups of people are similar except for the ad they see 7–24

25 Interactive Exercise: Types of Data 7–25

26 Interpreting the Data—Step 4 (Exhibit 7-6) What is your household income? Less than $30,000 $30,000 to 50,000 $50,000 to $75,000 More than $75,000 Total Sample Does your home have broadband Internet service? Yes23.7%46.2%52.3%72.4%47.1% No Total100.0% 7–26

27 Population Key Concerns in Data Interpretation Key Issues Validity Confidence Intervals Confidence Intervals Sample 7–27

28 Ethical Issues in Marketing 7–28

29 Checking Your Knowledge A sales training firm wants feedback on the quality of its classes and training services. The firm planned to send mail surveys to CEOs of its client companies to get the needed information. However, one executive objected to the survey plan, saying, “CEOs don’t attend our classes. How will they know if the classes are any good?” Another executive added, “If the survey isn’t relevant to the CEOs, it will be thrown away and we’ll get no data.” It appears that the research design presents problems with: A. response rate. B. relevance of population. C. validity. D. improper statistical analysis. E. both A and B. 7–29

30 Interactive Exercise: Confidence Interval 7–30

31 Solving the Problem—Step 5 Evaluate Application in Marketing Strategy Planning No Action Implications— Little value Interesting tidbits 7–31

32 Checking Your Knowledge A marketing research firm conducted a telephone survey for a consumer products company. It provided new and interesting information about brand image, the competition, and other topics. At the end of the research company’s results presentation, the sales manager commented, “This is all interesting information, but it doesn’t tell me why our market share is declining among 18 to 34 year old women, nor does it offer me any suggestions about actions I can take to deal with the situation.” The sales manager’s complaint suggests that the research suffers from problems with: A.a lack of action implications for management. B.poor planning by the researcher and managers at the outset of the project. C.poor sampling. D.a low response rate. E.both A and B. 7–32

33 International Marketing Research Research Contributes to Success Accurate Data—Hard To Find? Coordinate and Standardize Avoid Mistakes With Local Researcher 7–33

34 Marketing Research Identifies International Opportunities 7–34

35 You should now be able to: 1.Know about marketing information systems. 2.Understand the scientific approach to marketing research. 3.Know about methods for collecting secondary and primary data. 4.Understand the role of observing, questioning, and using experimental methods in marketing research. 5.Understand important new terms. 7–35

36 Key Terms  Marketing research  Marketing information system (MIS)  Intranet  Data warehouse  Decision support system (DSS)  Marketing dashboard  Marketing model  Scientific method  Hypotheses  Marketing research process  Situation analysis  Secondary data  Primary data  Research proposal  Qualitative research  Focus group interview  Quantitative research 7–36

37 Key Terms  Response rate  Consumer panel  Experimental method  Statistical packages  Population  Sample  Confidence interval  Validity 7–37


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