1. TURNING MARKETING INFORMATION INTO ACTION
CHAPTER 8
TURNING MARKETING INFORMATION INTO ACTION

2. Five-step marketing research approach leading to marketing actions

3. STEP 1: DEFINE THE PROBLEM
Set the Research Objectives
Identify Possible Marketing Actions
Measures of success

4. STEP 2: DEVELOP THE RESEARCH PLAN
Specify Constraints
Identify Data needed for Marketing Actions
Determine How to Collect Data
Concepts
Methods
Probability sampling
Nonprobability sampling
Statistical inference

5. Types of Marketing Information
STEP 3: COLLECT RELEVANT INFORMATION
Types of Marketing Information

6. STEP 3: COLLECT RELEVANT INFORMATION
Secondary Data
Internal Secondary Data
External Secondary Data
Primary Data
Observational Data
Questionnaire Data
Panels and Experiments
Advantages and Disadvantages

7. Example: Nielsen//NetRatings of the top 10 Internet Websites

8. STEP 3: COLLECT RELEVANT INFORMATION
Using Information Technology to Trigger Marketing Actions
The Marketing Manager’s View of Sales “Drivers”
Key Elements of an Information System
The Challenge in Mining Marketing Data
Data Mining: Approach to Searching the Data Ocean

9. STEP 4: DEVELOP FINDINGS
Analyze the Data
Present the Findings

10. Converting data into marketing actions: What to do about supermarket chains . . .

11. STEP 5: TAKE MARKETING ACTIONS
Identify the Action Recommendations
Implement the Action Recommendations
Evaluate the Results

12. MARKET AND SALES FORECASTING
Basic Forecasting Terms
Market or Industry Potential
Sales or Company Forecast
Two Basic Approaches to Forecasting
Top-Down Forecast
Buildup Forecast

13. Buildup approach to a two-quarter sales forecast for Apple Computer products

14. MARKET AND SALES FORECASTING
Specific Sales Forecasting Techniques
Judgments of the Decision Maker
Direct forecast
Lost-horse forecast
Surveys of Knowledgeable Groups
Survey of buyers’ intentions forecast
Salesforce survey forecast
Jury of executive opinion forecast
Survey of experts forecast
Statistical Methods
Trend extrapolatioN

15. Linear trend extrapolation of sales revenues of Xerox . . . 1999