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© 2005 Prentice Hall 6-1 Chapter 6 Global Information Systems and Market Research Power Point by Kristopher Blanchard North Central University.

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Presentation on theme: "© 2005 Prentice Hall 6-1 Chapter 6 Global Information Systems and Market Research Power Point by Kristopher Blanchard North Central University."— Presentation transcript:

1 © 2005 Prentice Hall 6-1 Chapter 6 Global Information Systems and Market Research Power Point by Kristopher Blanchard North Central University

2 © 2005 Prentice Hall 6-2 Introduction Understand the importance of information technology and marketing information systems Utilize a framework for information scanning and opportunity identification Understand the formal market research process Know how to manage the marketing information collection system and market research effort

3 © 2005 Prentice Hall 6-3 Information Technology for Global Marketing Information Technology refers to an organizations processes for creating, storing, exchanging, using, and managing information. Management Information Systems provide managers and other decision makers with a continuous flow of information about company operations

4 © 2005 Prentice Hall 6-4 Tools of MIS Intranet Electronic Data Interchange (EDI) Efficient Consumer Response (ECR) Electronic Point of Sale (EPOS) Data Warehouses

5 © 2005 Prentice Hall 6-5 Customer Relationship Management New business model Philosophy that values two-way communication between company and customer Every point of contact with a consumer is an opportunity to collect data Can make employees more productive and enhance corporate profitability

6 © 2005 Prentice Hall 6-6 Customer Relationship Management The major thing is, One size fits all is not true. CRM is designed to support the sales process, and if I develop a system that works in the U.S., it might not work in Europe. - Jim Dickie, Insight Technology Group

7 © 2005 Prentice Hall 6-7 Privacy Safe Harbor Agreement establishes principles for privacy protection for companies that transfer data to the US from Europe –Purposes of the information collected and used –An opt out option to prevent disclosure of personal information –Can only transfer information to 3 rd parties that are in compliance with Safe Harbor –Individuals must have access to information

8 © 2005 Prentice Hall 6-8 Information Subject Agenda The starting point for global marketing information system is identifying a list of subjects for which information is desired –Should be tailored to the needs and objectives of the company Two essential criteria –Is all the information subject areas relevant to a company with global operations –Categories should be mutually exclusive

9 © 2005 Prentice Hall 6-9 Information Subject Agenda

10 © 2005 Prentice Hall 6-10 Scanning Modes: Surveillance and Search Surveillance –Informal information gathering VIEWING – general exposure to information MONITORING – paying special attention and tracking a story as it develops Search –Formal information gathering INVESTIGATION – seeking out secondary data RESEARCH – conducting primary research

11 © 2005 Prentice Hall 6-11 Avoiding Information Overload Global organizations need –Efficient, effective system to scan and digest published sources of information in all countries in which it conducts business –Daily scanning, translating, digesting, abstracting, and electronic input of information into MIS

12 © 2005 Prentice Hall 6-12 Sources of Market Information Human sources –Executives based abroad are likely to have established communication with distributors, consumers, customers, suppliers, and government officials –Friends acquaintances, professional colleagues, consultants, and prospective employees

13 © 2005 Prentice Hall 6-13 Sources of Market Information Direct perception provides a vital background for the information that comes from human and documentary sources –Gets all the senses involved –Some information requires sensory experience to interpret it correctly Can be important when the domestic market is dominated by a global player

14 © 2005 Prentice Hall 6-14 Formal Market Research Global Marketing Research is the project- specific, systematic gathering of data in the search scanning mode on a global basis –Challenge is to recognize and respond to national differences that influence the way information is obtained

15 © 2005 Prentice Hall 6-15 Steps in the Research Process Identifying the research problem Developing a research plan Collecting data Analyzing data Presenting the research findings

16 © 2005 Prentice Hall 6-16 Identifying the Information Requirement What information do I need? –Existing Markets – customer needs already being served by one or more companies; information may be readily available –Potential Markets Latent market – an undiscovered market; demand would be there if product was there Incipient market – market will emerge as macro environmental trends continue Why do I need this information?

17 © 2005 Prentice Hall 6-17 Overcoming the SRC Self-Reference Criterion occurs when a persons values and beliefs intrude on the assessment of a foreign culture Must be aware of SRCs –Enhances managements willingness to conduct market research –Ensures that research design has minimal home-country bias –Increases managements receptiveness to findings

18 © 2005 Prentice Hall 6-18 Developing A Research Plan Do we need quantitative or qualitative data? What is the information worth (versus what will it cost to collect)? What will it cost if we dont get the information? What can be gained from the information?

19 © 2005 Prentice Hall 6-19 Collecting Data Secondary Data –Statistical Abstract of the United States –Statistical Yearbook of the United Nations –World Factbook –The Economist –The Financial Times –Syndicated studies –And much more

20 © 2005 Prentice Hall 6-20 Collecting Data (cont.) Primary Data Collection Methods –Survey research –Interviews –Consumer panels –Observation –Focus groups

21 © 2005 Prentice Hall 6-21 Special Considerations for Surveys Benefits: –Data collection from a large sample –Both quantitative and qualitative data possible –Can be self-administered Issues –Subjects may respond with social desirability –Translation may be difficult Use back and parallel translations to ensure accuracy and validity

22 © 2005 Prentice Hall 6-22 Sampling A sample is a selected subset of a population that is representative of the entire population. –Probability samples –Non-probability samples

23 © 2005 Prentice Hall 6-23 Analyzing Data Demand Pattern Analysis Income Elasticity Measurements Market Estimation by Analogy Time-series displacement Comparative Analysis Cluster Analysis

24 © 2005 Prentice Hall 6-24 Presenting the Findings Report must clearly address problem identified in Step 1 Include a memo or executive summary of the key findings along with main report

25 © 2005 Prentice Hall 6-25 Global Issues in Marketing Research Many country markets must be included Markets with low profit potential justifies limited research expenditures Data in developing countries may be inflated or deflated Comparability of international statistics varies greatly Limits created by cultural differences

26 © 2005 Prentice Hall 6-26 Enhancing Comparability of Data Emic analysis –Ethnographic in nature –Studies culture from within –Uses cultures own meanings and values Etic analysis –From the outside –Detached perspective that is used in multi- country studies –Enhances comparability but minimizes precision

27 © 2005 Prentice Hall 6-27 Looking Ahead Chapter 7 Segmentation, Targeting, and Positioning

28 © 2005 Prentice Hall 6-28 Intranet A Private network Allows authorized company personnel (or outsiders) to share information electronically 24-Hour Nerve Center Return

29 © 2005 Prentice Hall 6-29 Electronic Data Interchange Allows business units to: –Submit orders –Issue invoices –Conduct business electronically Transaction formats are universal Return

30 © 2005 Prentice Hall 6-30 Efficient Consumer Response (ECR) This is in addition to EDI An effort for retailers and vendors to work closely on sock replenishment ECR can be defined as a joint initiative by members of a supply chain to work toward improving and optimizing aspects of the supply chain to benefit customers. Return

31 © 2005 Prentice Hall 6-31 Electronic Point of Sale Gathers data at checkout scanners –Identifies product sales trends –Identifies how consumer preferences vary geographically Return

32 © 2005 Prentice Hall 6-32 Data Warehouses Can help fine-tune product assortments for multiple locations Enhances the ability of management to respond to changing business conditions Return

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