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Mankiw - Principles of Macroeconomics - Ch08 Ppt Basic
 

Mankiw - Principles of Macroeconomics - Ch08 Ppt Basic

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    Mankiw - Principles of Macroeconomics - Ch08 Ppt Basic Mankiw - Principles of Macroeconomics - Ch08 Ppt Basic Presentation Transcript

    • MKTG Designed by Amy McGuire, B-books, Ltd. Prepared by Deborah Baker, Texas Christian University Lamb, Hair, McDaniel 2008-2009 Decision Support Systems and Marketing Research 8 CHAPTER
    • Learning Outcomes Explain the concept and purpose of a marketing decision support system Define marketing research and explain its importance to marketing decision making Describe the steps involved in conducting a marketing research project LO 1 LO 2 LO 3
    • Learning Outcomes Discuss the profound impact of the Internet on marketing research Discuss the growing importance of scanner-based research Explain the concept of competitive intelligence LO 4 LO 5 LO 6
    • Marketing Decision Support Systems Explain the concept and purpose of a marketing decision support system LO 1
    • Marketing Decision Support Systems LO 1 An interactive, flexible computerized information system that enables managers to obtain and manipulate information as they are making decisions. DSS Decision Support Systems
    • DSS System Characteristics LO 1 Interactive Flexible Discovery-Oriented Accessible
    • Marketing Decision Support Systems LO 1 The creation of a large computerized file of customers’ and potential customers’ profiles and purchase patterns. The key tool for successful one-to-one marketing. Database Marketing
    • REVIEW LEARNING OUTCOME LO 1 Marketing Decision Support Systems
    • The Role of Marketing Research Define marketing research and explain its importance to marketing decision making LO 2
    • The Role of Marketing Research LO 2 The process of planning, collecting, and analyzing data relevant to a marketing decision. Marketing Research
    • Marketing Research Studies LO 2 Products Advertising Prices Packages Names and Logos Services Buying habits Colors Uses Awareness Familiarity New concepts Traffic patterns Wants Needs Politics
    • The Role of Marketing Research LO 2 Diagnostic Predictive Descriptive
      • Gathering and presenting factual statements
      • Explaining data
      • “ What if?”
      • Improve the quality of decision making
      • Trace problems
      • Focus on keeping existing customers
      • Understand the marketplace
      • Alert them to marketplace
      • trends
      • Gauge the value of goods
      • and services, and the level
      • of customer satisfaction
      LO 2 Beyond the Book Management Uses of Marketing Research NOTE: Supplemental content – not in book.
    • REVIEW LEARNING OUTCOME LO 2 Marketing Research and Its Importance Why marketing research?
      • Improve quality of decision making
      • Trace problems
      • Focus on keeping existing customers
      • Understand changes in marketplace
    • Steps in a Marketing Research Project Describe the steps involved in conducting a marketing research project LO 3
    • The Marketing Research Process LO 3 1 2 3 4 5 6 7 Collect Data Specify Sampling Procedure Plan Design/ Primary Data Define Problem Analyze Data Prepare/ Present Report Follow Up
    • Marketing Research LO 3 Marketing Research Problem Marketing Research Objective Management Decision Problem Determining what information is needed and how that information can be obtained efficiently and effectively. The specific information needed to solve a marketing research problem; the objective should provide insightful decision-making information. A broad-based problem that requires marketing research in order for managers to take proper actions.
    • Secondary Data LO 3 Secondary Data Data previously collected for any purpose other than the one at hand.
    • Sources of Secondary Data LO 3 Government Agencies Trade and Industry Associations Business Periodicals News Media Internal Corporate Information Online http://www.coca-colastore.com
    • Advantages of Secondary Data
      • Saves time and money if on target
      • Aids in determining direction for primary data collection
      • Pinpoints the kinds of people to approach
      • Serves as a basis of comparison for other data
      LO 3
    • Disadvantages of Secondary Data
      • May not give adequate detailed information
      • May not be on target with the research problem
      • Quality and accuracy of data may pose a problem
      LO 3
    • The New Age of Secondary Information: The Internet LO 3 1 2 3 4 5 Analyze your topic Test run a word or phrase in a search engine Learn as you go and vary your approach Don’t bog down in strategy that doesn’t work Go back to earlier steps better informed
    • Planning the Research Design LO 3 Which research questions must be answered? How and when will data be gathered? How will the data be analyzed? ?
    • Primary Data LO 3 Information collected for the first time. Can be used for solving the particular problem under investigation. Primary Data
    • Advantages of Primary Data
      • Answers a specific research question
      • Data are current
      • Source of data is known
      • Secrecy can be maintained
      LO 3
    • Disadvantages of Primary Data
      • Expensive
      • “Piggybacking” may confuse respondents
      • Quality declines if interviews are lengthy
      • Reluctance to participate in lengthy interviews
      LO 3 Disadvantages are usually offset by the advantages of primary data.
    • Survey Research LO 3 Survey Research The most popular technique for gathering primary data in which a researcher interacts with people to obtain facts, opinions, and attitudes.
    • Forms of Survey Research LO 3 Focus Groups Executive Interviews Mail Surveys Telephone Interviews Mall Intercept Interviews In-Home Interviews
    • Forms of Survey Research LO 3 Mall Intercept Interview Survey research method that involves interviewing people in the common areas of shopping malls. Executive Interview A type of survey that involves interviewing businesspeople at their offices concerning industrial products or services.
    • Forms of Survey Research LO 3 Focus Groups Seven to ten people who participate in a group discussion led by a moderator.
    • Questionnaire Design LO 3 Open-Ended Question Closed-Ended Question Scaled- Response Question An interview question that encourages an answer phrased in respondent’s own words. An interview question that asks the respondent to make a selection from a limited list of responses. A closed-ended question designed to measure the intensity of a respondent’s answer.
    • Questionnaire Design Beyond the Book LO 3 NOTE: Supplemental content – not in book. On the other hand, unless the researcher designs the closed-ended question very carefully, an important choice may be omitted. Closed-ended and scaled-response questions are easier to tabulate than open-ended questions because response choices are fixed.
    • Questionnaire Design LO 3 Clear and concise No ambiguous language Unbiased Reasonable terminology Only one question Online http://www.createsurvey.com
    • Observation Research LO 3 Observation Research
      • A research method that relies on three types of observation:
      • people watching people
      • people watching an activity
      • machines watching people
    • Observational Situations LO 3 Traffic-counting machine monitoring traffic flow Video cameras recording behavior Observer at an intersection counting traffic Mystery shoppers in a supermarket Example Machines watching phenomena Machines watching people People watching phenomena People watching people Situation Online http://www.bmiltd.com
    • Ethnographic Research LO 3 Ethnographic Research The study of human behavior in its natural context; involves observation of behavior and physical setting.
    • The Sampling Procedure LO 3 Sample Universe A subset from a large population. The population from which a sample will be drawn.
    • Sampling Procedure LO 3 Universe Sample Probability Samples Non-Probability Samples
    • Types of Samples LO 3 Probability Samples Simple Random Sample Stratified Sample Cluster Sample Systematic Sample Non-Probability Samples Convenience Sample Judgment Sample Quota Sample Snowball Sample
    • Probability Samples LO 3 Probability Sample A sample in which every element in the population has a known statistical likelihood of being selected. Random Sample A sample arranged so that every element of the population has an equal chance of being selected.
    • Nonprobability Samples LO 3 Nonprobability Sample Convenience Sample Any sample in which little or no attempt is made to get a representative cross-section of the population. A form of nonprobability sample using respondents who are convenient or readily accessible to the researcher.
    • Types of Errors LO 3 Measurement Error Error when there is a difference between the information desired and the information provided by research Sampling Error Error when a sample somehow does not represent the target population. Frame Error Error when a sample drawn from a population differs from the target population. Random Error Error because the selected sample is an imperfect representation of the overall population.
    • Field Service Firms LO 3
      • Focus group facilities
      • Mall intercept locations
      • Test product storage
      • Kitchen facilities
      • Retail audits
      Provide:
    • Analyzing the Data LO 3 Cross- Tabulation A method of analyzing data that lets the analyst look at the responses to one question in relation to the responses to one or more other questions.
    • Preparing and Presenting the Report LO 3
      • Concise statement of the research objectives
      • Explanation of research design
      • Summary of major findings
      • Conclusion with recommendations
    • Following Up LO 3
      • Were the recommendations followed?
      • Was sufficient decision-making information included in the report?
      • What could have been done to make the report more useful to management?
    • REVIEW LEARNING OUTCOME LO 3 Steps in a Marketing Research Project
    • Impact of the Internet on Marketing Research Discuss the profound impact of the Internet on marketing research LO 4
    • Impact of the Internet
      • Allows better and faster decision making
      • Improves ability to respond quickly to customer needs and market shifts
      • Makes follow-up studies and tracking research easier
      • Slashes labor- and time-intensive research activities and costs
      LO 4
    • Advantages of Internet Surveys LO 4 Contact with the hard-to-reach Improved respondent participation Personalized questions and data Reduced costs Rapid development, Real-time reporting
    • Uses of the Internet by Marketing Researchers LO 4 Other types of marketing research Conduct focus groups Administer surveys Online http://www.greenfieldonline.com
    • Internet Samples LO 4 Unrestricted Internet Sample Screened Internet Sample Recruited Internet Sample A survey in which anyone with a computer and modem can fill out the questionnaire. An Internet sample with quotas based on desired sample characteristics. A sample in which respondents are prerecruited and must qualify to participate.
    • Process for Online Focus Groups LO 4
      • Build a database of respondents via Web site screening questionnaire
      • Identify qualified individuals via e-mail
      • Develop a discussion guide
      • Moderator runs group by typing in questions online for all to see
      • Environment is similar to a chat room
      • Firm captures the complete text of the focus group
    • Types of Online Focus Groups LO 4 Real-time online focus groups Time-extended online focus groups
    • Advantages of Online Focus Groups
      • Speed
      • Cost-effectiveness
      • Broad geographic scope
      • Accessibility
      • Honesty
      LO 4
    • Role of Blogs in Marketing Research
      • Refined technologies allow companies to mine data available in Internet blogs.
      • Companies can identify the most influential bloggers and learn exactly what they are saying (and how they are saying it).
      LO 4
    • Other Uses of the Internet by Marketing Researchers LO 4 Viewing of presentations of marketing research surveys Publication and distribution of reports Data management and online analysis Collaboration between client and research supplier Distribution of requests for proposals (RFPs) and proposals
    • REVIEW LEARNING OUTCOME LO 4 Impact of the Internet on Marketing Research
    • Scanner-Based Research Discuss the growing importance of scanner-based research LO 5
    • Scanner-Based Research LO 5 A system for gathering information from a single group of respondents by continuously monitoring the advertising, promotion, and pricing they are exposed to and the things they buy. BehaviorScan InfoScan Scanner-based Research
    • When Should Marketing Research Be Conducted? LO 5
      • Where there is a high level of uncertainty
      • When value of research information exceeds the cost of generating the information
    • REVIEW LEARNING OUTCOME LO 5 Scanner-Based Research BehaviorScan InfoScan Panel information from Specific groups of people, enables researchers to manipulate variables and see real results Aggregate consumer information on all bar-coded products
    • Competitive Intelligence Explain the concept of competitive intelligence LO 6
    • Competitive Intelligence LO 6 Competitive Intelligence Online http://www.scip.org An intelligence system that helps managers assess their competition and vendors in order to become more efficient and effective competitors.
    • Sources of Competitive Intelligence LO 6 Internet Company Salespeople Experts CI Consultants Government Agencies UCC Filings Suppliers Periodicals Yellow Pages Trade Shows
    • REVIEW LEARNING OUTCOME LO 6 Competitive Intelligence CI Part of a sound marketing strategy Helps companies respond to competitive threats Helps reduce unnecessary costs