1. Marketing-Information Management5
Marketing-Information Management
5.1 The Need for Speedy Information
5.2 The Marketing Research Process
5.3 Managing the Information

2. Winning Strategies NuBoard Media Sports Promotion
patented a nonresidue adhesive used to attach plastic bags to the seat backs in sport’s venues
advertiser literature stuffed into bags
“winning game pieces” an incentive for attendees to look in bags
game attendance, coupon redemption, and website hits provide marketing-information feedback
Chapter 5

3. Lesson 5.1 The Need for Speedy Information
Goals
Explain the purpose of marketing-information management.
Describe careers in marketing-information management.
Chapter 5

4. Terms syndicated research polls engaged customers
client-side researchers
Chapter 5

5. REACHING FOR DATA marketing research gathers data
identifies solutions to marketing problems
Chapter 5

6. Who is Buying? syndicated research
research conducted by an independent company
offered for sale to everyone in an industry
Chapter 5

7. Engaging Customers polls engaged customers
surveys of people’s opinions
engaged customers
repeat customers who are completely loyal to a company’s products and services
It is five times as expensive to attract the business of new customers as it is to retain the loyalty of current customers.
Chapter 5

8. Why do businesses need marketing information?
Chapter 5

9. CAREERS IN MARKETING RESEARCH
Marketing researchers collect and analyze competitive data.
provide clients with strategic recommendations
Chapter 5

10. Marketing Research Firms
Marketing research careers will increase by 18%-26% through 2014.
client-side researchers
a staff researcher who co-ordinates the research efforts of external marketing research firms
Chapter 5

11. On the Job Director of Marketing
drives profitable revenue for assigned products
manages a team
tracks sales
creates schedules and action plans
develops training materials
makes presentations
Chapter 5

12. Describe some of the job functions of a marketing researcher.
Chapter 5

13. Lesson 5.2 The Marketing Research Process
Goals
List and describe the steps involved in marketing research.
Discuss the human factors in marketing research.
Chapter 5

14. Terms market research exploratory research desk research
descriptive research
causal research
sample
price points
Chapter 5

15. STEPS IN MARKETING RESEARCH
market research
information gathered on a single target market
Chapter 5

16. How It’s Done Discover and define the problem
Analyze current conditions
Develop the process for data collection
Collect the data
Analyze and report the data
Determine a solution to the problem
Implement and evaluate the results
Chapter 5

17. Discover and Define the Problem
exploratory research
conducted when a business is unaware of the exact problem
desk research
reports of other completed research are used to help define the problem
descriptive research
done when the business is aware of the problem that needs to be solved
Chapter 5

18. causal research
determines the cause-and-effect relationships when the problem is already clearly defined
Chapter 5

19. Analyze Current Conditions
examine sales volume and customer data to understand current conditions
Develop the Process for Data Collection
observation or survey
Collect the Data
sample
a representative subset of the large group
Chapter 5

20. Analyze and Report the Data
data patterns are sought
data is complex
price points
the range of prices charged for a category of merchandise
graphic representations make data easier to understand quickly
Chapter 5

21. Chapter 5

22. Determine a Solution to the Problem
Conclusions from the data can lead to recommended changes to current conditions.
Implement and Evaluate the Results
changes need to be implemented
effectiveness of changes need to be evaluated
Chapter 5

23. Explain how market research is different from marketing research.
Chapter 5

24. THE HUMAN FACTOR
At times, there may be a conflict between people in research and people in sales.
Chapter 5

25. Research Sophistication
decisions based on sound information can greatly increase the chances for success
gut feeling and intuition also play a role in decision-making
Chapter 5

26. Reducing Conflict
Marketing research that reveals dissatisfied customers might make other departments within the company feel defensive.
Researchers should learn about all marketing functions within the company.
Research results should be reported in an understandable format.
Chapter 5

27. Ethical Research
Marketing researchers must maintain high ethical standards and report information accurately and objectively.
The identity of research participants should be protected.
Researchers have an obligation to protect the consumer from “misrepresentation and exploitation under the guise of research.”
Chapter 5

28. What’s in It for Me?
Consumers need an incentive for providing specific information that will be useful for marketing research.
Chapter 5

29. Worldwide Data Consumer preferences vary among cultures.
Marketers need to understand the preferences of the various cultures to which they sell products.
Chapter 5

30. Briefly describe the reasons for potential conflict between sales managers and marketing research managers.
Chapter 5

31. Lesson 6.3 Managing the Information
Goals
Explain the options for electronic data collection.
Discuss the concept of data-driven decisions.
Chapter 5

32. Terms
data mining
cookie
click-through rate
Chapter 5

33. COLLECTION OF DATA
It is essential to have high quality data to receive high quality research results.
Chapter 5

34. Data Mining data mining
using powerful computers to “dig up” data to make decisions
ACNielsen’s research is generally based on actions rather than opinions.
electronically monitors actual television viewing habits of a representative sample of viewers
Chapter 5

35. Cookies Anyone?
cookie
a small data file that is placed on the hard drive of a web site visitor
collects and reports data on the visitor
Chapter 5

36. Consumer Privacy
Industry and federal regulators are addressing issues concerning customer’s privacy.
Marketing information gathered from children is a sensitive area.
The entertainment industry is trying to protect its products from piracy.
Chapter 5

37. Why do people often resent the collection of personal data?
Chapter 5

38. DATA-DRIVEN DECISIONS
Customers and marketers use data to make decisions.
Chapter 5

39. Ranking the Ads search engines click-through rate
help users find relevant web sites for free
click-through rate
(the number of times an ad is clicked on) ÷ (the number of times an ad is shown)
Chapter 5

40. Why does Google improve the ranking of ads that get the most clicks?
Chapter 5

41. PERFORMANCE INDICATORS EVALUATED
Communicate promotional ideas clearly to the judge.
Analyze characteristics of the target market.
Chapter 5

42. Explain the economic benefits of senior citizens owning two residences.
Emphasize the advantages of a retirement village concept that involves two locations.
Understand the product being promoted and its value to the target market.
Chapter 5

43. THINK CRITICALLY
Why are two residences attractive to many senior citizens?
How do high gas prices affect senior citizens who use RVs?
List three characteristics of the retirement communities that are attractive to senior citizens.
Chapter 5