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Copyright © 2007 Pearson Education Canada5-1 Marketing: An Introduction Second Canadian Edition Armstrong, Kotler, Cunningham, Mitchell and Buchwitz Chapter Five Managing Marketing Information
Copyright © 2007 Pearson Education Canada5-2 Looking Ahead Explain the importance of information and the to understanding of the marketplace. Define the marketing information system and discuss its parts. Outline the steps in the marketing research process. Explain how companies analyze and distribute marketing information. Discuss the issues marketing researchers face, including public policy and ethics issues.
Copyright © 2007 Pearson Education Canada5-3 The Importance of Information Companies need information about their: –Customer needs. –Marketing environment. –Competition. Marketing managers do not need more information, they need better information.
Copyright © 2007 Pearson Education Canada5-4 Marketing Information System A company’s skills, processes and tools for gathering, analyzing and using environmental information. Information critical to react the marketing environment. Challenge is to get better, actionable information.
Copyright © 2007 Pearson Education Canada5-5 Assessing Information Needs A good MIS balances the information users would like against what they really need and what is feasible to offer. Sometimes the company cannot provide the needed information because it is not available or due to MIS limitations. Have to decide whether the benefits of more information are worth the costs.
Copyright © 2007 Pearson Education Canada5-6 Data Gathering Techniques Internal data. –Internal information that the various departments already have. Marketing intelligence. –Information that can be gathered from public or legally available sources. Marketing research. –Specific information gathered to answer a specific question.
Copyright © 2007 Pearson Education Canada5-7 Market Research Process Define the problem. Set the research objectives. Develop a research plan. Implement the marketing research plan. Analyze and interpret the data. Report the findings.
Copyright © 2007 Pearson Education Canada5-8 Types of Marketing Research Exploratory research. –To gather preliminary information. –Primary or secondary data. Descriptive research. –To describe marketing situations or markets. –Surveys, observational studies. Causal research. –To experiment with cause-and-effect relationships.
Copyright © 2007 Pearson Education Canada5-9 Develop the Research Plan Includes: –Determining the exact information needed. –Developing a plan for gathering it efficiently. –Presenting the written plan to management. Outlines: –Sources of existing data. –Specific research approaches. –Contact methods. –Sampling plans. –Instruments for data collection.
Copyright © 2007 Pearson Education Canada5-10 Types of Data Secondary. –Data or information that has been gathered and published by other parties. –Publications, websites, directories. Primary. –Data or information that is gathered directly from the subjects of the research. –Interviews, focus groups, observation, surveys, experiments.
Copyright © 2007 Pearson Education Canada5-11 Gather Secondary Data Information that already exists somewhere. –Internal databases. –Commercial data services. –Government sources. Available more quickly and at a lower cost than primary data. Must be relevant, accurate, current and impartial.
Copyright © 2007 Pearson Education Canada5-12 Sources of Secondary Data Government publications. –Statistics Canada, Strategis. Periodicals and books. –Trade directories, indexes and industry surveys. Commercial data services. –Collections of business research articles. –Industry and scanner data. International data. –Euromonitor, United Nations Statistical Yearbook
Copyright © 2007 Pearson Education Canada5-13 Sources of Secondary Data Internet data sources –Huge amount of data available online, not all of it trustworthy. –Search engines. –Industry websites. www.environics.ca www.census.gov www.demographics.com www.canoe.ca www.ecola.com/news www.strategymag.com www.brint.com
Copyright © 2007 Pearson Education Canada5-14 Primary Data Collection Consists of information collected for the specific purpose at hand. Must be relevant, accurate, current and unbiased. Must determine: –Research approach. –Contact methods. –Sampling plan. –Research instruments.
Copyright © 2007 Pearson Education Canada5-15 Observational Research The gathering of primary data by observing relevant people, actions and situations. Ethnographic research. –Observation in “natural environment.” Mechanical observation. –People meters. –Checkout scanners.
Copyright © 2007 Pearson Education Canada5-16 Survey Research Most widely used method for primary data collection. Approach best suited for gathering descriptive information. Can gather information about people’s knowledge, attitudes, preferences or buying behaviour.
Copyright © 2007 Pearson Education Canada5-17 Experimental Research Tries to explain cause-and-effect relationships. Involves: –Selecting matched groups of subjects. –Giving different treatments. –Controlling unrelated factors. –Checking differences in group responses.
Copyright © 2007 Pearson Education Canada5-18 Sampling Sample. –a segment of the population selected to represent the population as a whole. Sample unit. –Who is to be surveyed? Sample size. –How many people should be surveyed? Sampling procedure. –How should those surveyed be chosen?
Copyright © 2007 Pearson Education Canada5-19 Primary Research Instruments Mechanical. –People meters. –Supermarket scanners. –Galvanometer. –Eye cameras. –Computers. Questionnaires. –What questions to ask. –Form of each question. Closed-ended. Open-ended. –Wording. –Ordering.
Copyright © 2007 Pearson Education Canada5-20 Implement the Plan Collecting the data. –Data collection most expensive and prone to error Processing the data. Analyzing the data.
Copyright © 2007 Pearson Education Canada5-21 Interpret and Report Findings Managers and researchers must work together when interpreting research results. Step One: Interpret the finding. Step Two: Draw conclusions. Step Three: Report to management.
Copyright © 2007 Pearson Education Canada5-22 CRM Systems Customer Relationship Management. –Software that gathers, stores and analyzes individual customer information. –All departments view the customer through a single “window.” –Correlates disparate information to find marketing opportunities. –Provides an integrated view of the company to the customer.
Copyright © 2007 Pearson Education Canada5-23 Many companies utilize CRM. –Capture customer information from all sources –Analyze it in depth –Apply the results to build stronger relationships. Companies look for customer touch points. Data warehouses/data mining to find information out about customers. CRM Systems
Copyright © 2007 Pearson Education Canada5-24 Information must be distributed to the right people at the right time. –Routine information for decision making. –Non-routine information for special situations. –Intranets – protected information websites for internal people. –Extranets – protected information websites for partners and external stakeholders. Using Marketing Information
Copyright © 2007 Pearson Education Canada5-25 Research Issues Small businesses and non-profit organizations lack research resources. International marketing information can be difficult and costly to obtain. Competitive information often difficult to obtain ethically. Public policy issues. –Intrusions on consumer privacy. –Misuse of research findings.
Copyright © 2007 Pearson Education Canada5-26 Looking Back Explain the importance of information and the to understanding of the marketplace. Define the marketing information system and discuss its parts. Outline the steps in the marketing research process. Explain how companies analyze and distribute marketing information. Discuss the issues marketing researchers face, including public policy and ethics issues.
Marketing Info. System Assessing Marketing Information Needs
Kotler / Armstrong 11e, Chapter 4 Managers today often receive _____ information. 1.too much 2.too little 3.irrelevant 4.both 1 and 3.
Marketing Research and Information Systems
Kotler / Armstrong, Chapter 4
Managing Marketing Information
By Suwattana Sawatasuk. Marketing Research The systematic design, collection, and analysis, and reporting of data relevant to a specific marketing situation.
Managing Marketing Information To Gain Customer Insights
Chapter Four Managing Marketing Information. Roadmap: Previewing the Concepts Copyright 2007, Prentice Hall, Inc Explain the importance of information.
Objectives Understand the importance of information to the company.
Copyright © 2007 Pearson Education Canada5-1 WELCOME PMBA 502 TODAY TODAY (Oct. 27, 2008) : Chp. 5 Discussion Questions: P. 157, Q2 P. 196, 3a and 3b NOTE.
Managing Marketing Information to Gain Customer Insights
Copyright © 2007 Pearson Education Canada 5-1 Chapter Five Managing Marketing Information With Duane Weaver.
Learning Goals Explain the importance of information to the company
Principles of Marketing, 5th Canadian Edition
Principles of Marketing
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