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MARKETING RESEARCH AND INTELLIGENCE SYSTEM
Contents:• Market Research: Definition• Differences between Consumer and Business
Markets• Scope of Marketing Research• Market and Marketing Research• Applications of Market Research• Process• Case Study• Ethical issues in Marketing Research• Industrial Market Intelligence System.
What is Marketing researchWhat is Marketing research ??
• The objective and systematic process of obtaining, analyzing and reporting data for decision making
Difference between the consumer and industrial marketing
Consumer No. of consumer
buyers large. Experimental and
observational method are more useful to collecting the primary data.
IndustrialNo. of industrial Customers small.Secondary data are more useful.Technical factor is also important in Industrial Marketing.
Scope of Marketing Research:Scope of Marketing Research:
• Development of market potential• Market share analysis .• Sales analysis• Forecasting• Competitors Analysis• Benchmarking.• New products acceptance and potential• Business trend studies• Sales quota determination
Marketing Research and Market Research:Marketing Research and Market Research: 'Market' research is simply research into a
specific market. It is a very narrow concept. 'Marketing' research is much broader. It not only includes 'market' research, but also areas such as research into new products, or modes of distribution such as via the Internet.
APPLICATIONS OF MARKET RESEARCH
• Pricing research• Product research• Concept testing• Positioning research• Customer satisfaction research• Branding research• Brand equity research• Advertising research• Market segmentation• Sales analysis
THE MARKETING RESEARCH PROCESS
Identify the problem/opportunity and define research objectives
Develop the research design
Collect the data (or informa-tion)
Proces-s and analyze the data
Present the research findings
DEVELOP THE RESEARCH DESIGN/PLAN
DECISION AREAS:INFORMATION TYPESOURCES OF DATA
o Primary Datao Secondary Data
RESEARCH METHODS:♣ Observational♣ Exploratory♣ Descriptive (or Survey)♣ Experimental
SURVEY RESEARCH METHOD:♣Structured and direct way of interview♣Unstructured and direct form of interview♣Structured and indirect form of interview♣Unstructured and indirect mode of interview
SAMPLING PLAN• Sampling Unit• Sample Size• Sampling Procedure
METHODS OF CONTACTS• Mail• Telephone • Personal Interview
DATA COLLECTION METHODS Questionnaire Mechanical Devices
♫COLLECTING THE DATA
♫PROCESSING AND ANALYSING THE DATA
♫PRESENTING THE RESEARCH FINDINGS/REPORT
Microsoft B2B Site Case StudyMicrosoft B2B Site Case Study• By Alex Barnett• Published on September 8, 2004• Introduction• In February 2004, Microsoft UK launched Advisor, an
extranet targeted at business and technical decision makers in the mid-market.
• The end product was the result of over a year of research, planning, design, development and pilot testing.
• A number of theories were floated around as to why “Call Me” wasn’t getting the usage we anticipated. Someone had the bright idea of asking the customers.
Background
• In late 2002, the Microsoft UK online customer relationship marketing team was briefed by the mid-market audience marketing group. They shared the results of research undertaken to understand how our customer engagement model was meeting the needs of the customer.
• In short, the brief indicated that there was a lot of room for improvement, especially in the online space. The research showed that having an online relationship with Microsoft was a top-three priority for our mid-market customers. And, critically, the way Microsoft engages its customers and the quality of its products were the major drivers of customer satisfaction.
• The evidence pointed to a simple solution—develop our online offering to complement our offline offerings as part of an improved CRM program to improve customer satisfaction levels.
Process:• We agreed on a plan and a process we would work with, putting particular focus on:• Understanding what our customers needed from us and how we could meet those needs online. • Developing a value proposition and testing it with the target audience. • Making design decisions based on continuous customer feedback. • Incorporating a pilot phase to understand in depth how and if the offering was meeting customer needs. • The internal customer agreed that we should take time to develop a great product. Rushing this type of
project due to internally created deadlines was not going to achieve the customer’s strategic objectives.• So off to work we went. Research:• A research project was commissioned to determine specifically what this online offering should comprise.
There were a number of high-level requirements that emerged. Customers stated the following needs:• Provide a personalized experience: “Treat me as if you know who I am (in the context of the company I
work for) and account for what Microsoft products we’ve already bought and installed, which products we’re thinking of buying, which vertical segment we’re in and our attitude toward IT.”
• Provide a relevant experience: “Make it easy for me to access all information and services I need to do business with Microsoft.”
• Provide a proactive experience: “Tell me when there is something you’re doing that is relevant to me.” • Provide an educational experience: “Show me how your products can make our company better, how to
get the most out of your products, why IT matters and what the Microsoft product roadmap looks like in detail.”
• Provide a supportive experience: “Make it easy for us to contact you about our specific needs and put us in touch with the right partners at the right time.”
Design• With our Web agency, AKQA, we analyzed the feedback. • Initially, the brief to the agency was to develop ideas based on the feedback and
our objectives. They came back to us with strong concepts, including proposed names (we tested many and customers told us that Advisor was the most meaningful), information architectures, screenshots, design, layouts and a portfolio of potential services and content we could provide.
• We then set up focus groups and tested ideas with the target audience. It was great to learn there were some clear killer apps emerging from within the various services we proposed. The “Call Me” feature and the ability to manage company profile details were popular. We had some surprises too: Some services we had assumed would be valuable were rejected as low priority or gimmicky. Saved searches, personalized bookmarks and forums were dropped like rocks.
• We also learned that interactive services, as opposed to volumes of flat content, was what the customers were really after. This was valuable feedback. We had been heading in a content-heavy direction and our customers pulled us back and steered us toward a more function-focused path.
• This stage of the process was key to getting Advisor right. It drove our priorities and gave us confidence that what we were developing was something our customers really needed and wanted, not just what we assumed they needed.
Pilot Phase• We piloted the site with over 200 customers, allowing us to learn about all the
areas we needed to focus on prior to the full launch. We wanted to fully test a range of dependencies and operational processes, including recruitment processes, marketing communications, back-end offline support, service level agreements, issue escalation and resolution and so on. It’s a good thing we did—we had already done a great deal of work in this regard, but realized we needed to re-engineer some other offline process if we were to go into full launch without causing mayhem. This period allowed us to test these processes under real-world conditions.
• A number of theories were floated around as to why “Call Me” wasn’t getting the usage we anticipated. Someone had the bright idea of asking the customers. The answer came back loud and clear—customers weren’t quite sure what constituted a reasonable reason to request a call. They knew that “Call Me” was not intended to replace existing support contracts (this was made clear in the copy) and were concerned about wasting our time with trivial queries. When we dug further, these “trivial queries” turned out to be exactly the kind of queries “Call Me” was designed to pass on to our customer services team. Many of the queries were actually the beginnings of decision-making processes about purchasing our products.
• The insights we gained around “Call Me” allowed us to re-evaluate our marketing of this specific service within our communications at the pilot stage, saving us money later on. The results showed we had cracked the problem—we experienced a 250% increase in the use of “Call Me” in the first week and the new levels were sustained after that.
The Results• The pilot, launched in August 2003, also aimed to help us understand how
the site was meeting its original objective of providing an online experience that would meet customer needs as part of an overall CRM program and therefore lift customer satisfaction.
• All said, the pilot did very well. We carried out pre- and post-use surveys with the control group and the results were overwhelmingly positive, giving us the confidence to launch in the UK in February 2004. Early signs are very encouraging.
• Our work was closely tracked and supported by teams in Redmond. Advisor is rolling out in Germany and France later this year, and globally after that.
• The lessons we learned during Advisor’s development are now used across teams and built upon by other projects. These lessons in user-centered design and our general approach can be applied to online projects large and small; in particular, that it’s more important to get it right than deliver early.
ETHICAL ISSUES IN MARKETING RESEARCH
NATURE AND CONTENT OF ETHICAL ISSUESNATURE AND CONTENT OF ETHICAL ISSUES
Issues involving the treatment of Participants
•Purpose should not be to sell merchandise
•Anonymity must be protected
•Hidden tape recorders
•Fake long distance calls
•Fake research firms
•Right to safety
•Right to be informed
•Right to privacy
•Right to choose.
Issues involving the Treatment of Clients
Methods used and results should be accurately reported.
Confidentiality
Unqualified researchers
Proprietary information
Unnecessary research
Issues involving the treatment of researchers
Should not disseminate conclusions that are inconsistent with date.
Should not solicit designs and deliver to another for execution.
Excessive requests
Reneging on promises.
Availability of funds.
INDUSTRIAL MARKETING INDUSTRIAL MARKETING INTELLIGENCE SYSTEMINTELLIGENCE SYSTEM
MarketingResearchstudies
DecisionSupportsystem
Marketresponse
IndustrialMarketing Intelligence
system
Internal Information
system
SecondaryData
sources
MarketingStrategy
Development
Components of Decision Support Components of Decision Support systemsystem
Marketing Manager
Decision models Statistics
Display Data base
Environment
AnswersQuestions
Action
Requirements of an effective decision Requirements of an effective decision support system:support system:
P CP C
DSSDSS
User friendly systemUser friendly system
Thank You!Thank You!
• Presented By:Presented By:
• Alok KumarAlok Kumar
• PadminiPadmini • Rasika GuptaRasika Gupta
• Ridhi SawhneyRidhi Sawhney