Transcript Marketing Chapter 4 Lecture Presentation (9-21-10)

Managing Marketing Information
Bluefield College
September 21, 2010
Contact Methods
 Mail surveys
– Mail survey pros:
• Can collect large amounts of information at a relatively low cost per respondent.
• Generates more truthful responses than phone interviews.
• Improved validity (no interviewer bias).
– Mail survey cons:
• Not flexible; study takes longer to finish.
• Low response rate.
• Little control over sample.
 Telephone surveys
– Telephone surveying pros:
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Gathers information fast.
Greater flexibility than mail surveys.
Interviewers can explain or skip questions.
Strong sample control.
– Telephone surveying cons:
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Higher costs than mail.
Interviewer may bias results.
Limited quantity of data can be collected.
Poor response rates.
Contact Methods
 Personal interviews:
– Individual interviewing
• Individual & group interviewing pros:
– Highly flexible method that can gather a great deal of data from a
respondent.
– Good control of sample, speed of data collection, and response rate.
• Individual & group interviewing cons:
– High cost per respondent.
– Highly subject to interviewer bias and related interviewer effects.
– Focus group interviewing
• Online pros:
– Fastest form of data collection can gather a good amount of data.
– Lowest cost per respondent of all contact methods; offers excellent
sample control.
– Good flexibility and response rate.
• Online cons:
– Somewhat subject to interviewer bias and related interviewer effects.
Using Sampling Techniques
A segment of the population is selected to
represent the population as a whole.
 Sampling requires three decisions:
– Who is to be surveyed? (Selecting the sampling unit)
– How many people should be surveyed? (Referred to as sample size)
– How should the people in the sample be chosen? (Describes the sampling
procedure)
 Probability samples offer each population member a known chance of
being selected.
– Simple random sample
– Stratified random sample
 Nonprobability samples are selected in a non random manner, which
means sampling error cannot be computed.
– Convenience sample
– Judgment sample
– Quota sample
Research Instruments
 Questionnaire decisions:
– What questions to ask?
– Form of each question?
• Closed-ended or Open-ended
– Wording?
 Mechanical devices:
– People meters, checkout scanners, eye
tracking devices, neuromarketing.
• Researchers used neuromarketing techniques to see how
Super Bowl viewers’ brains responded to various ads. Visit
Sands Research to learn more!
Implementing the Research Plan
 Collecting the data:
– Most expensive phase.
– Subject to error.
 Processing the data:
– Check for accuracy.
– Code for analysis.
 Analyzing the data:
– Tabulate results.
– Compute statistical measures.
 Interpret the findings.
 Draw conclusions.
 Report to management:
– Present findings and conclusions that will be most helpful to
decision making.
Customer Relationship Management
Managing detailed information about individual customers
& carefully managing customer “touch points” in order to
maximize customer loyalty.
 Many companies utilize customer relationship
management (CRM):
– Captures customer information from all sources.
– Analyzes it in-depth.
– Applies the results to build stronger relationships.
 Companies look for customer touch points.
 CRM analysts develop data warehouses and use data
mining techniques to find out information about
customers. Findings may lead to new marketing
opportunities.
Customer Relationship Management (CRM)
 Benefits of CRM:
– Ability to offer better customer service and develop deeper
customer relationships.
– Pinpoint and target high-value customers more effectively.
– Enhances the firm’s ability to cross-sell products and develop
offers tailored to customers.
 Marketing information systems (MIS) must make
information readily available for decision-making:
– Routine information for decision making.
– Nonroutine information for special situations.
 Intranets and extranets facilitate the information sharing
process.