Transcript Ch-5
CRAVENS PIERCY 8/e McGraw-Hill/Irwin © 2006 The McGraw-Hill Companies, Inc., All Rights Reserved. 5-2 Chapter Five Continuous Learning About Markets McGraw-Hill/Irwin © 2006 The McGraw-Hill Companies, Inc., All Rights Reserved. 5-3 Continuous Learning About Markets Market orientation and organizational learning Marketing research information Information systems Marketing intelligence systems and knowledge management Ethical issues in collecting and using information 5-4 Market Orientation and Organizational Learning Market orientation perspective includes all relevant sources of knowledge and ideas Characteristics of the learning organization Learning and competitive advantage 5-5 Learning About Markets OpenMinded Inquiry Keeping and Gaining Access to Prior Learning Synergistic Information Distribution Mutually Informed Interpretations Source: George S. Day, Journal of Marketing, October 1994. Illustrative Example: The Bombay Company 5-6 Turnaround strategy at The Bombay Company started with customer research examining shopping experiences and what consumers really wanted from a home furnishings supplier This drove major changes in how goods were displayed and presented to overcome perceptions of confused merchandizing and pricing Stores were re-merchandized around themes to overcome consumer feelings that the company was too “stuffy” The research showed that catalogs were used for decorating ideas not product listings, so they were restyled around lifestyle choices The Bombay Company strategy is driven by extensive market research and rewsponse to customer feedback 5-7 A Framework for Market Sensing Probability of the Event Occurring High Medium Low 7 6 Effect of the Event on the Company* Field of Dreams Utopia 5 Things to Watch 4 3 2 Danger Future Risks 1 * 1=Disaster, 2=Very bad, 3=Bad, 4=Neutral, 5=Good, 6=Very good, 7=Ideal 5-8 Types of Marketing Information Marketing research studies Standardized information services Management information systems Database systems Decision support systems Customer relationship management (CRM) systems Competitor intelligence systems 5-9 Strategies for Obtaining Information Internal Data Collect existing information Published information Subscription Strategy alternatives Use standardized research services Single purchase Exploratory Conduct research study Full-scale Advantages and Limitations 5-10 of Questioning Methods Advantages Limitations Personal Interviews Most versatile and flexible Long questionnaires handled more easily Presence of interviewer allows more flexibility in procedure More enjoyable for respondents Fewer refusals High cost Possibility of interviewer bias Possibility of cheating by interviewer due to lack of supervision Project time often lengthy Telephone Interviews Fewer interviewers needed Relatively inexpensive Rapid method of data collection Can reach large number of households More control over interviewers More noncommittal answers Some households overrepresented Lengthy and detailed questions often not feasible Mail surveys Higher-quality information Better for collecting information on possibly embarrassing subjects Relatively cheaper to conduct No interviewer bias Questionnaire cannot be changed Complex Can be completed by person other than intended Follow-up expensive Response often slow in coming Source: Harper W. Boyd, Jr., Ralph Westfall, and Stanley F. Stasch, Marketing Research: Text and Cases, 5th ed. (Homewood, IL Richard D. Irwin, 1981), Chap. 4. 5-11 Special Research Studies Problem Definition Information Required Research Method Sampling Plan Questionnaire Design Data Collection Analysis and Report 5-12 Screening A New Research Supplier 1. Client Would you recommend this supplier? 2. Supplier Do you have sufficient funds for this project? 3. What parts of the project will be subcontracted, and how do you manage subcontractors? 4. May I see your interviewer’s manual and data entry manual? 5. How do you train and supervise interviewers? 5-13 6. What percentage of interviews are validated? 7. May I see a typical questionnaire? 8. Who draws your samples? 9. What percentage of your data entry is verified? 10. Managers What do you think about this supplier? Source: Seymour Sudman and Edward Blair, Marketing Research, A Problem-Solving Approach, Irwin/McGraw-Hill, 1998, 67. 5-14 Impact of the Internet on Marketing Costs and Availability Online Surveys – – – – Fast Inexpensive Limitations in population coverage Resistance to excessive Web communications Customer feedback and peer-to-peer Web communications Monitoring customer Web behavior Illustrative Example: Knowledge Sharing at Buckman Labs 5-15 Buckman has more than 50 Internet discussion groups focused on its main products – employees post 50-100 messages a day The company has amassed an easily searchable database of in-house expertise and past lessons learned, all accessible to employees and customers The Web harnesses the brainpower of an entire global speciality chemicals company around customer problems Knowledge sharing is the foundation for superior learning about customers 5-16 Marketing Decision-Support System Components Database Display Analysis Capabilities Models Marketing Intelligence and Knowledge Management 5-17 Market sensing does not rely on hard data alone – intelligence from publications, sales calls, customer visits, social contacts, Internet, rumor Knowledge management Role of the Chief Knowledge Officer Leveraging customer knowledge – – – – creating “customer knowledge development dialogues” operating enterprise-wide “customer knowledge communities” capturing customer knowledge at the point of customer contact management commitment to customer knowledge 5-18 Ethical Issues in Collecting and Using Information Invasion of customer privacy – e.g., use of medical databases to sell healthcare products Information and ethics – e.g., guidelines for sharing of confidential information – e.g., collecting data from children