1. Marketing Decision-Making and Marketing Decisions
Week One
Review

2. The Knowledge Age Huge volumes of information now available
Managers need to be selective and systematic
As data is drawn from multiple sources, needs to be combined and analysed for it to be of value

3. Decision levels in organisations
Business direction
Market decisions
Investment decisions
New product development
Positioning
Strategic
Operational
Marketing mix decisions
Customer service levels
Competitive responses
Campaigns
Tactical 3

4. Typical applications for marketing research
Market analysis
New product/service development
Selection of brand names and packaging
Pricing decisions
Advertising and promotion decisions
Sales decisions
Service support and complaint handling decisions 4

5. Summary Marketing Decisions Four types of decision area::
Marketing Research generates data and analysis for
Marketing Decisions
Four types of decision area::
- Market Research
- Product Policy Research
- Pricing Research
- Communications Research
PGDM

6. Summary Primary objective of researcher is to provide: Timely Accurate
Relevant
Data and analysis to Marketing
Management
Key word is ‘Robust”

7. Research and the Research Process

8. Types of Marketing Research
Exploratory Research
Descriptive Research
Causal Research
…relates to Uncertainty

9. Exploratory Research
Initial research to clarify a problem or opportunity
Basis for further research

10. Descriptive Research
Describes the nature and characteristics of a market or situation
e.g. much of Market Research is descriptive

11. Causal Research
Describes the nature off variables and cause and effect relationships
e.g. Market Modelling

12. Logical Process

13. Secondary Data Sources

14. Generating Data + / - Data is generated in 2 basic ways:
Secondary data:
Data already existing – may have been collected for other purposes
Primary data:
Original data – collected for a specific purpose
+ / -

16. Secondary Data Secondary data is information
that has been previously gathered
for some purpose other than the
current research project

17. Benefits of secondary data
Faster
Less expensive to collect
Internet can be used, increasing speed further

18. Limitations of secondary data
Availability
Applicability
Accuracy
Comparability

19. Internal Secondary Research Sources
Sales figures
Operational data – stock levels, etc
Customer satisfaction results
Advertising spend
Customer complaints records
Effectiveness data from promotional
campaigns
Marketing research reports from
past studies

20. External Secondary Research Sources
Internet – single search engines, and multiple search engines
Directories
Country information
Published marketing research reports
News sources
Newsgroups and discussion lists

21. The marketing information system (MkIS)
“People, equipment and procedures to gather, sort, analyse, evaluate and distribute needed, timely and accurate information to marketing decision makers”
(Kotler et al)