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For use only with Perreault and McCarthy texts.© The McGraw-Hill Companies, Inc., 1999
Irwin/McGraw-Hill
Chapter 8: Improving Decisions with Marketing Information
For use only with Perreault and McCarthy texts.© The McGraw-Hill Companies, Inc., 1999
Irwin/McGraw-Hill
Marketing Information System (MIS)
Organized for a continuous flow of information Gathering information Accessing information Analyzing information
Development of intranets is speeding the adoption Multimedia information, not just numerical data Search engines make information easier to find
Design of the MIS requires data processing expertise and marketing expertise
Use of MIS is focused on making better marketing decisions Strategy planning Details of implementation Timely control procedures
For use only with Perreault and McCarthy texts.© The McGraw-Hill Companies, Inc., 1999
Irwin/McGraw-Hill
Decision Support System (DSS)
A computer program—an interface—between the manager and the MIS
Makes it easy to get needed informationSearch engines are a powerful tool for finding
what’s neededEasy access to databases in a data warehouse
Makes it easy to analyze the informationMay involve marketing models—to show the
relationships among different marketing variablesIs used as the manager is making decisions
For use only with Perreault and McCarthy texts.© The McGraw-Hill Companies, Inc., 1999
Irwin/McGraw-Hill
Examples of Uses of a Decision Support System
Selecting target markets Competitive evaluation, such as changes in
market shareCustomer analysisSales analysisCost analysisAnalysis of responses to elements of
marketing mix Forecasting
For use only with Perreault and McCarthy texts.© The McGraw-Hill Companies, Inc., 1999
Irwin/McGraw-Hill
Marketing Research
Procedures to gather and analyze information for marketing decision making
Focus is on new information not already available in the MIS or other secondary data sources
May be handled inside the firm or by outside specialistsCooperation is needed between technical
specialists and manager/decision makers
For use only with Perreault and McCarthy texts.© The McGraw-Hill Companies, Inc., 1999
Irwin/McGraw-Hill
Definingthe
Problem
Analyzingthe
Situation
GettingProblem-Specific
Data
Inter-preting
Data
Solvingthe
Problem
EarlyIdentification
ofSolution
Feedback to Previous Steps
8-4
Exhibit 8-2
Marketing Research Process
For use only with Perreault and McCarthy texts.© The McGraw-Hill Companies, Inc., 1999
Irwin/McGraw-Hill
Primary and Secondary DataPRIMARY DATA: Information specifically collected to
solve a current problem. Examples:surveysexperimentsobservational studies
SECONDARY DATA: Information that has previously been collected or published. Some examples:information from the Internet or a firm’s intranetdata from Bureau of the Censuscomputer databasesinternal reportsindustry trade associations
For use only with Perreault and McCarthy texts.© The McGraw-Hill Companies, Inc., 1999
Irwin/McGraw-Hill
SecondaryData
Sources
Inside Company
Outside Company
Observation
Questioning
PrimaryData
Sources
AllData
Sources
8-5
Exhibit 8-3
Sources of Data
For use only with Perreault and McCarthy texts.© The McGraw-Hill Companies, Inc., 1999
Irwin/McGraw-Hill
Before Gathering Primary Data
A manager should determine:
1] Is is possible to reduce the uncertainty of this decision?
2] How much is that reduction of uncertainty worth? Is the value > cost?
3] Can I get information from the research fast enough to be useful?
For use only with Perreault and McCarthy texts.© The McGraw-Hill Companies, Inc., 1999
Irwin/McGraw-Hill
Five Situations When Marketing Research Not Needed
1. Information already available2. Insufficient time frame3. Inadequate resources4. Costs outweigh the value of the research5. Strategic importance of the problem
Explain the differences between data and informationChanging View of the
Marketing Research Process
For use only with Perreault and McCarthy texts.© The McGraw-Hill Companies, Inc., 1999
Irwin/McGraw-Hill
Focus Group Interviews
A popular type of qualitative research Involves a small group (usually 6 to 10 people) in a
discussion—usually for about 1 hourA group leader ("interviewer") unobtrusively guides the
discussionDesigned to get in-depth, open-ended responses, not
intended to be "representative" of larger marketGroup interaction stimulates thinking and reactionsAnalysis of results is subjectiveMay involve videotaping and or “on-line sessions” and
other technologies
For use only with Perreault and McCarthy texts.© The McGraw-Hill Companies, Inc., 1999
Irwin/McGraw-Hill
Collecting Data
8-6
PrimaryMethods
forCollecting
SurveyData
Telephone
PersonalInterview
For use only with Perreault and McCarthy texts.© The McGraw-Hill Companies, Inc., 1999
Irwin/McGraw-Hill
Key Issuesin Data
Interpretation
Population
ConfidenceIntervals
Validity
Sample
Interpreting Data
8-7