Managing Marketing Information

transcript

Managing Marketing Managing Marketing InformationInformation

ROAD MAP: Previewing the Concepts

• Explain the importance of information to the Explain the importance of information to the company and its understanding of the company and its understanding of the marketplace.marketplace.

• Define the marketing information system and Define the marketing information system and discuss its parts.discuss its parts.

• Outline the steps in the marketing research Outline the steps in the marketing research process.process.

• Explain how companies analyze and Explain how companies analyze and distribute marketing information.distribute marketing information.

• Discuss the special issues some marketing Discuss the special issues some marketing researchers face, including public policy and researchers face, including public policy and ethics issues.ethics issues.

The Importance of Information

• Companies need Companies need information about information about their:their:– Customer needsCustomer needs– Marketing environmentMarketing environment– CompetitionCompetition

• Marketing managers Marketing managers do not need do not need moremore information, they information, they need need betterbetter information.information.

Information Overload

“In this oh so overwhelming information age, it’s all too easy to be buried, burdened, and burned out by data overload.”

The Marketing Information System

Marketing Information System

• An MIS consists of people, equipment, An MIS consists of people, equipment, and procedures to gather, sort, analyze, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, evaluate, and distribute needed, timely, and accurate information to marketing and accurate information to marketing decision makers.decision makers.

• The MIS helps managers to: The MIS helps managers to: 1.1. Assess Information NeedsAssess Information Needs2.2. Develop Needed InformationDevelop Needed Information3.3. Distribute InformationDistribute Information

Assessing Information Needs

• A good MIS balances the information A good MIS balances the information users would users would likelike against what they really against what they really needneed and what is and what is feasiblefeasible to offer. to offer.

• Sometimes the company cannot provide Sometimes the company cannot provide the needed information because it is not the needed information because it is not available or due to MIS limitations.available or due to MIS limitations.

• Have to decide whether the benefits of Have to decide whether the benefits of more information are worth the costs.more information are worth the costs.

Developing Marketing Information

• Internal DatabasesInternal Databases: Electronic collections : Electronic collections of information obtained from data sources of information obtained from data sources within the company.within the company.

• Marketing IntelligenceMarketing Intelligence: Systematic : Systematic collection and analysis of publicly available collection and analysis of publicly available information about competitors and information about competitors and developments in the marketing developments in the marketing environment.environment.

• Marketing ResearchMarketing Research: Systematic design, : Systematic design, collection, analysis, and reporting of data collection, analysis, and reporting of data relevant to a specific marketing situation relevant to a specific marketing situation facing an organization.facing an organization.

Marketing Intelligence

Procter & Gamble admitted to “dumpster diving” at rival Unilever’s Helene Curtis headquarters. When P&G’s top management learned of the questionable practice, it stopped the project, voluntarily informed Unilever, and set up talks to right whatever competitive wrongs had been done.

•Provide some examples of Provide some examples of marketing intelligence.marketing intelligence.

Discussion Question

The Marketing Research Process

Defining the Problem & Objectives

Gather preliminary information that will help define the problem

and suggest hypotheses.

Exploratory Research

Descriptive Research

Causal Research

Describes things (e.g., market potential for a product,

Demographics, and attitudes).

Tests hypotheses about cause-and-effect

relationships.

Defining the Problem

Click the picture above to play video

Burke helps Burke helps clients define the clients define the problem and problem and offers a solution.offers a solution.

Developing the Research Plan

• Includes:Includes:– Determining the exact information neededDetermining the exact information needed– Developing a plan for gathering it Developing a plan for gathering it

efficientlyefficiently– Presenting the written plan to managementPresenting the written plan to management

• Outlines:Outlines:– Sources of existing dataSources of existing data– Specific research approachesSpecific research approaches– Contact methodsContact methods– Sampling plansSampling plans– Instruments for data collectionInstruments for data collection

Gathering Secondary Data

• Information that already exists Information that already exists somewheresomewhere– Internal databasesInternal databases– Commercial data servicesCommercial data services– Government sourcesGovernment sources

• Available more quickly and at a lower Available more quickly and at a lower cost than primary datacost than primary data

• Must be relevant, accurate, current, Must be relevant, accurate, current, and impartialand impartial

•Choose a partner and come up with Choose a partner and come up with answers to the following question.answers to the following question.– You are thinking about opening a bridal You are thinking about opening a bridal

boutique in your town. What types of boutique in your town. What types of secondary data might help you in secondary data might help you in making your decision?making your decision?

Interactive Student Assignment

Online Databases

Dialog puts an incredible wealth of information at the keyboards of marketing decision makers. Dialog puts “information to change the world, or your corner of it” at your fingertips.

Primary Data Collection

• Consists of information collected for Consists of information collected for the specific purpose at hand.the specific purpose at hand.

• Must be relevant, accurate, current, Must be relevant, accurate, current, and unbiased.and unbiased.

• Must determine:Must determine:– Research approachResearch approach– Contact methodsContact methods– Sampling planSampling plan– Research instrumentsResearch instruments

Observational Research

• The gathering of primary data by The gathering of primary data by observing relevant people, actions, observing relevant people, actions, and situations.and situations.

• Ethnographic research:Ethnographic research:– Observation in “natural environment”Observation in “natural environment”

• Mechanical observation:Mechanical observation:– People metersPeople meters– Checkout scannersCheckout scanners

Observational Research

Fisher-Price set up an observation lab in which it could observe the reactions of little tots to new toys.

Survey Research

• Most widely used method for primary Most widely used method for primary data collection.data collection.

• Approach best suited for gathering Approach best suited for gathering descriptive information.descriptive information.

• Can gather information about Can gather information about people’s knowledge, attitudes, people’s knowledge, attitudes, preferences, or buying behavior.preferences, or buying behavior.

Experimental Research

• Tries to explain cause-and-effect Tries to explain cause-and-effect relationships.relationships.

• Involves:Involves:– selecting matched groups of subjects, selecting matched groups of subjects, – giving different treatments, giving different treatments, – controlling unrelated factors, and controlling unrelated factors, and – checking differences in group responses.checking differences in group responses.

Strengths & Weaknesses ofContact Methods

Choosing the Sample

• SampleSample – segment of – segment of the population selected the population selected to represent the to represent the population as a whole.population as a whole.

• Requires 3 Requires 3 Decisions:Decisions:– Who is to be Who is to be

surveyed?surveyed?• Sampling unit Sampling unit

– How many people How many people should be surveyed?should be surveyed?• Sample sizeSample size

– How should the How should the people in the sample people in the sample be chosen?be chosen?• Sampling procedureSampling procedure

Primary Data Collection

Mechanical Devices

• People Meters• Supermarket Scanners• Galvanometer• Eye Cameras

Questionnaires

• What questions to ask• Form of each question

•Closed-ended•Open-ended

• Wording• Ordering

Research Instruments

Collecting the Data

Processing theData

Analyzing theData

Research Plan

Implementing the Research Plan

Interpreting & Reporting Findings

Managers and researchers must work together when interpreting research results.

Step 1. Interpret the Findings

Step 2. Draw Conclusions

Step 3. Report to Management

Customer Relationship Management

• Many companies utilize CRMMany companies utilize CRM– Capture customer information from all sourcesCapture customer information from all sources– Analyze it in depthAnalyze it in depth– Apply the results to build stronger relationships.Apply the results to build stronger relationships.

• Companies look for customer Companies look for customer touch pointstouch points..

• CRM analysts develop CRM analysts develop data warehousesdata warehouses and and use use data miningdata mining techniques to find techniques to find information out about customers.information out about customers.

Distributing and Using Marketing Information

Information Must be Distributed to the Right People at the Right Time

Routine Information for Decision Making

Nonroutine Information for Special Situations

Intranets Extranets

Other Marketing Research Considerations

Marketing Research in Small Businesses and NonprofitOrganizations

International Marketing ResearchInternational Marketing Research

Public Policy and Ethics in Marketing ResearchPublic Policy and Ethics in Marketing Research

Research Services

Roper ASW, Inc. provides companies with information resources “from Brazil to Eastern Europe; from Cape Town to Beijing—if you are there, Roper ASW, Inc. is there.”

Click Here to Visit RoperASW

Rest Stop: Reviewing the Concepts

• Explain the importance of information to the Explain the importance of information to the company.company.

• Define the marketing information system and Define the marketing information system and discuss its parts.discuss its parts.

• Outline the steps in the marketing research Outline the steps in the marketing research process.process.

• Explain how companies analyze and Explain how companies analyze and distribute marketing information.distribute marketing information.

• Discuss the special issues some marketing Discuss the special issues some marketing researchers face, including public policy and researchers face, including public policy and ethics issues.ethics issues.

Managing Marketing Information

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