Transcript Chapter 7

Chapter 7
Improving
Decisions with
Marketing
Information
Copyright © 2014 by The McGraw-Hill Companies, Inc. All rights reserved
7-2
1.
2.
3.
4.
Discuss marketing information systems.
Understand the scientific approach to
marketing research.
Know about methods for collecting
secondary and primary data.
Understand the role of observing,
questioning, and using experimental
methods in marketing research.
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5.
6.
7.
Understand the challenges to
interpreting marketing research data.
Recognize how market research
information aids marketing planning in
international markets.
Understand important new terms.
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Information
for marketing
decisions
Marketing information
systems
• Accessing multimedia data
• Data warehouse
• Decision support systems
• Marketing models
Marketing Research
• Role of research specialist
• Scientific method
• Steps in marketing research
1. Define problem
2. Analyze situation
3. Gather problem-specific data
4. Interpret the data
5. Solve the problem
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That marketing research
geek doesn’t understand my
business—she doesn’t even
know my competitors!
That overpaid Gen Y is
clueless—she doesn’t
even know how a chisquare is computed!
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MIS Makes
Information Available
and Accessible
An Intranet Is
Easy to Update
Get More
Information—
Faster and
Easier
“Big Data”
From Raw Data
to Wisdom
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Information
sources
Internal
data
sources
External
data
sources
New
information
Market
Research
studies
Questions and answers
Marketing
models
Inputs
Databases
(“Data
warehouse”)
Decision
maker
Results
Answers
Questions
Decision
support
system (DSS)
Marketing
manager
decisions
Outcomes
(sales, profit,
customer
reactions, etc.)
Information
technology
specialists
Feedback
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Information for
implementation,
planning and control
Many Firms Are Not
There Yet
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Feedback to previous steps
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Defining the problem
Analyzing the situation
Getting problemspecific data
Interpreting the data
Solving the problem
Early
identification
of solution
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Finding the Right
Problem Level
Problems vs. Symptoms
Setting Research
Objectives
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What Information Do We
Already Have?
Situation Analysis Helps
Educate a Researcher
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Edna Bates, a marketing researcher who is an
expert in customer satisfaction research, is asked
by a client to conduct a study dealing with a
completely unfamiliar research topic. Edna
consults secondary data to gain more insight
about this unfamiliar area. Edna is engaged in the
_________ stage of the marketing research
process.
A.
B.
C.
D.
E.
problem definition
situation analysis
gathering problem-specific data
data interpretation
solving the problem
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Secondary
data
sources
Inside
company
Company files, intranet, reports,
marketing information system,
people, sales, cost data
Outside
company
Internet, libraries, governments,
trade associations, universities,
private research organizations
All data
sources
Primary
data
sources
Equipment (video, scanner, etc.);
Observation Web site analysis; personal
approaches
Questioning
In-depth and focus group
interviews; online, mail, phone,
personal surveys; panels
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Key
Issues
Situation
Analysis—A
Lot For a
Little
What Else Is
Needed?
Research
Proposal
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Observing
Primary
Data
Questioning
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Seeks structured
responses
Can be
summarized in
numbers
Quantitative
Research
Faster response
& analysis
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Mail and
Online
Primary
Methods
for
Collecting
Survey
Data
Personal
Interview
Telephone
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A researcher wants to study 1,000 consumers
and needs information about a lot of personal
and sensitive issues. Which of the following
would be the best way to gather this
information?
A. Mail survey
B. Focus group
C. Telephone survey
D. Face-to-face interview
E. Experiment
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MROCs
Questioning
Observing
Ethnographic
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Observation Is Common
in Advertising Research
Web Site Analysis
Checkout Scanners
“See” A Lot
Consumer Panels
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Difference in
response between
two groups
Groups of people
are similar except
for the ad they see
Representative
group of
customers
Half of
the
people
see Ad #1
Half of
the
people
see Ad #2
Average for group
who saw Ad #1 =
3.2
Average for group
who saw Ad #2 = 4.6
1
2
3
4
5
Average product interest rating by group
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What is your household income?
Does your
home have
broadband
Internet
service?
Less
than
$30,000
$30,000 to
50,000
$50,000
to
$75,000
More
than
$75,000
Total
Sample
Yes
23.7%
46.2%
52.3%
72.4%
47.1%
No
76.3
53.8
47.7
27.6
52.9
100.0%
100.0%
100.0%
100.0%
100.0%
Total
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Population
Sample
Key
Issues
Validity
Confidence
Intervals
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A sales training firm wants feedback on the quality of its
classes and training services. The firm planned to send mail
surveys to CEOs of its client companies to get the needed
information. However, one executive objected to the survey
plan, saying, “CEOs don’t attend our classes. How will they
know if the classes are any good?” Another executive added,
“If the survey isn’t relevant to the CEOs, it will be thrown away
and we’ll get no data.” It appears that the research design
presents problems with:
A.
B.
C.
D.
E.
response rate.
relevance of population.
validity.
improper statistical analysis.
both A and B.
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Interesting tidbits
No Action Implications—
Little value
Application in Marketing
Strategy Planning
Evaluate
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A marketing research firm conducted a telephone survey for
a consumer products company. It provided new and
interesting information about brand image, the competition,
and other topics. At the end of the research company’s
results presentation, the sales manager commented, “This is all
interesting information, but it doesn’t tell me why our market
share is declining among 18 to 34 year old women, nor does
it offer me any suggestions about actions I can take to deal
with the situation.” The sales manager’s complaint suggests
that the research suffers from problems with:
A. a lack of action implications for management.
B. poor planning by the researcher and managers at the
outset of the project.
C. poor sampling.
D. a low response rate.
E. both A and B.
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Research
Contributes to
Success
Accurate
Data—Hard To
Find?
Coordinate
and
Standardize
Avoid Mistakes
With Local
Researcher
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1.
2.
3.
4.
Discuss marketing information systems.
Understand the scientific approach to
marketing research.
Know about methods for collecting
secondary and primary data.
Understand the role of observing,
questioning, and using experimental
methods in marketing research.
7-38
5.
6.
7.
Understand the challenges to
interpreting marketing research data.
Recognize how market research
information aids marketing planning in
international markets.
Understand important new terms.
7-39
1.
2.
3.
4.
5.
6.
7.
8.
marketing research
marketing
information system
(MIS)
big data
data warehouse
intranet
decision support
system (DSS)
marketing
dashboard
marketing model
9.
10.
11.
12.
13.
14.
15.
16.
17.
scientific method
hypotheses
marketing research
process
situation analysis
secondary data
primary data
research proposal
qualitative research
focus group
interview
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18.
19.
20.
21.
22.
23.
quantitative
research
response rate
market research
online community
(MROC)
consumer panel
experimental
method
statistical packages
24.
25.
26.
27.
population
sample
confidence interval
validity