Transcript Marketing Research For Managerial Decision Making

Chapter One
Marketing
Research For
Managerial
Decision
Making
Copyright © 2006
McGraw-Hill/Irwin
Value of Marketing
Research
Describe and explain the impact
marketing research has on
marketing decisions
• It’s a Jeep Thing, You Wouldn’t Understand
• Definition of Marketing Research
– American Marketing Association
• Marketing Research—systematic process
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Designing methods for collecting information
Managing the information collection process
Analyzing and interpreting results
Communicating findings to decision markers
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Relationship Marketing &
Marketing Research Process
Demonstrate how marketing
research fits into the marketing
planning process
• Purpose of Marketing
• Right Fit
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To the right people
At the right place and time
With the right price
Through the use of the right blend of
promotional techniques
• Uncertainty
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Relationship Marketing &
Marketing Research Process
Demonstrate how marketing
research fits into the marketing
planning process
• Relationship Marketing
• Three component for Success in Relationship
Marketing
– Knowledge of the market
– Effective training programs
– Employee empowerment and teamwork
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Relationship Marketing &
Customer Relationship Mgmt
Demonstrate how marketing
research fits into the marketing
planning process
• Customer Relationship Management (CRM)
• Customer/market knowledge
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Demographics
Psychographics
Buying and service history
Preferences
Complaints
All other communications the customer has
with the company
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Relationship Marketing &
Customer Relationship Mgmt
Demonstrate how marketing
research fits into the marketing
planning process
• Data Integration
• Information Technology
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Basic reporting on customers
Data mining
Statistical analysis procedures
Data visualization
• Creating Customer Profiles
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Marketing Planning and
Marketing Research
Demonstrate how marketing
research fits into the marketing
planning process
• Market-planning Framework
– Broad Decision
• Which new markets to penetrate
• Which products to introduce
• Which new business opportunities to pursue
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Marketing Planning and
Marketing Research
Demonstrate how marketing
research fits into the marketing
planning process
– Narrow Based Decisions
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Advertising effectiveness
Product positioning
Sales tracking
Monitoring performance
Anticipating and initiating changes in marketing
practices
• Accurate Information To Make the Right
Decision
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Exhibit 1.1
McGraw-Hill/Irwin
Demonstrate how marketing
research fits into the marketing
planning process
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Marketing Situation Analysis
Demonstrate how marketing
research fits into the marketing
planning process
• Situation Analysis
– Locate and identify new market opportunities
– Identify groups of customers
– Identify existing and potential competitors
McGraw-Hill/Irwin
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Marketing Situation Analysis
• Market Analysis
– Content Analysis
– In-Depth Interviews
– Formal Rating
Procedures
• Market Segmentation
McGraw-Hill/Irwin
Demonstrate how marketing
research fits into the marketing
planning process
• Competitive Analysis
– Importance-performance
analysis
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Price
Product performance
Product quality
Accuracy of shipping and
delivery
• Convenience of store
location
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Marketing Strategy Design
Demonstrate how marketing
research fits into the marketing
planning process
• Target Marketing Analysis
– New-product opportunities
– Demographics, attitudinal or behavioral
characteristics
– User profiles, usage patterns, and attitude
– Effectiveness of a firm’s current marketing
program
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Exhibit 1.2
McGraw-Hill/Irwin
Demonstrate how marketing
research fits into the marketing
planning process
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Marketing Strategy Design
Demonstrate how marketing
research fits into the marketing
planning process
• Positioning
• New-Product Planning
– Concept and product testing and test marketing
– Product testing
– Product tests
McGraw-Hill/Irwin
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Marketing Program
Development
Describe and explain the impact
marketing research has
on marketing decisions
• Product Portfolio Analysis
– Customer satisfaction studies
• Attitudes
– Service quality studies
• Mystery shopper
– Atmosphere
– Customer service
– Customer appreciation
McGraw-Hill/Irwin
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Marketing Program
Development
Demonstrate how marketing
research fits into the marketing
planning process
• Distribution Decisions
– Cycle time research
– Retailing research
– Logistic assessment
• Total cost analysis
• Service sensitivity analysis
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Exhibit 1.3
McGraw-Hill/Irwin
Demonstrate how marketing
research fits into the marketing
planning process
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Marketing Program
Development
Demonstrate how marketing
research fits into the marketing
planning process
• Pricing Decision
• Demand Analysis
• Sales forecasting
– Qualitative
– Quantitative.
McGraw-Hill/Irwin
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Marketing Program
Development
Demonstrate how marketing
research fits into the marketing
planning process
• Integrated Marketing Communication
– Promotional Decisions
• Acquire information about the performance of a
promotional program
• Employ the appropriate methodology
• Estimate adequate sample sizes
• Develop the proper scaling techniques
McGraw-Hill/Irwin
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Marketing Program
Development
Demonstrate how marketing
research fits into the marketing
planning process
• Advertising Effectiveness
– Qualitative or quantitative or both
– Measure a particular ad’s ability
• To generate awareness of the product
• To communicate product benefits
• To create a favorable predisposition for the product
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Marketing Program
Development
• Attitudinal Research
– Cognitive approach
– Affect approach
– Behavioral approach
Demonstrate how marketing
research fits into the marketing
planning process
• Personal Selling
– Measurable objectives
– Non-measurable
objectives
• Sales Tracking
McGraw-Hill/Irwin
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Exhibit 1.4
McGraw-Hill/Irwin
Demonstrate how marketing
research fits into the marketing
planning process
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Marketing Program
Implementation and Control
Describe and explain the impact
marketing research has
on marketing decisions
• Marketing Program Control
– Product Analysis
– Environmental Forecasting
– Technology
McGraw-Hill/Irwin
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The Marketing
Research Industry
Understand the scope and focus of
the marketing research industry
• Marketing Research Industry
– Growth
– Revenue Increases
• To postsale customer satisfaction studies
• To retail driven product scanning systems
• To database development for long-term brand
management
• To international research studies
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The Marketing
Research Industry
Understand the scope and focus of
the marketing research industry
• Types of Marketing Research Firms
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Internal
External
Customized
Standardized
Facilitating Agencies
• Advertising agencies
• Field services
• Independent consultants
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The Marketing
Research Industry
Understand the scope and focus of
the marketing research industry
Changing Skills For A Changing Industry
– Fundamental skills
• Communication skills
• Interpersonal skills
• Statistical skills
McGraw-Hill/Irwin
– Skills for Marketing
Researchers
• Ability to understand and
interpret secondary data
• Presentation skills
• Foreign-language competency
• Negotiation skills
• Computer proficiency
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Ethics in Marketing
Research Practices
Demonstrate ethical dimensions
associated with marketing research
• Unethical Activities by the Client/Research User
– Soliciting bids with no intentions of hiring
– Using the information from the proposals yourself
– Promising a prospective research provider a longterm relationship or additional projects to get a
low price
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Ethics in Marketing
Research Practices
Demonstrate ethical dimensions
associated with marketing research
• Unethical Activities by the Research Provider
or Research Company
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Unethical pricing practices
Do not provide the promised incentive
Create respondent abuse
Selling unnecessary research service
Other
• Unethical Activities by the Respondent
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Exhibit 1.5
McGraw-Hill/Irwin
Demonstrate ethical dimensions
associated with marketing research
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Exhibit 1.5
(continued)
McGraw-Hill/Irwin
Demonstrate ethical dimensions
associated with marketing research
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Exhibit 1.5
(continued)
McGraw-Hill/Irwin
Demonstrate ethical dimensions
associated with marketing research
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Emerging Trends
Understand emerging trends
and new skills associated
with marketing research
• Five Major Trends
– Increased emphasis on secondary data collection methods
– Movement toward technology-related data management
– Increased use of digital technology for information
acquisition and retrieval
– Broader international client base
– Movement away from pure data analysis and toward data
interpretation/information management
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Summary
– The Value of Marketing Research
– Relationship Marketing and the Marketing
Research Process
– Relationship Marketing and Customer
Relationship Management
– Marketing Planning and Marketing Research
– Marketing Situation Analysis
– Marketing Strategy Design
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Summary
– Marketing Program Development
– Marketing Program Implementation and
Control
– The Marketing Research Industry
– Ethics In Marketing Research Practices
– Emerging Trends
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