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Chap005

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  • 1. 05
    Managing Marketing Information
    Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved
    McGraw-Hill/Irwin
  • 2. LEARNING OBJECTIVES
    Describe the difference between market information systems and market research systems
    Identify how critical internal (inside the firm) information is collected and used in making marketing decisions
    Explain essential external (outside the firm) information collection methods
    Recognize the value of market research and its role in marketing
    Define the market research process
    Illustrate current research technologies and how they are used in market research
    5-2
  • 3. MAKING GOOD MARKETING DECISIONS – THE NEED TO KNOW
    Information is power!
    The right information at the right time and in the right format is essential for decision makers.
    A significant problem for most managers today is not having too little information, but having too much.
    5-3
  • 4. MAKING GOOD MARKETING DECISIONS – THE NEED TO KNOW
    Marketing managers need a system to design and execute research that generates precise information.
    Two fundamental types of market information needed today are:
    Related to broad areas of interest.
    Addresses a specific question.
    5-4
  • 5. The Nature of a Market Information System
    A Market Information System (MIS) is not a software package but a continuing process of identifying, collecting, analyzing, accumulating and dispensing critical information to marketing decision makers.
    5-5
  • 6. The Nature of a Market Information System
    What information should be collected by the system?
    What are the information needs of each decision maker?
    How does the system maintain the privacy and confidentiality of sensitive information?
    5-6
  • 7. Internal Sources
    Collecting Information Inside the Company
    Information is used to identify the problem.
    Information is used to proactively address issues before they become a problem.
    5-7
  • 8. Internal Information Sources
    Exhibit 5.2
    CRM - Operations
    Documents
    Customer orders
    Marketing
    Documents and databases
    Customer inquiries
    Financial documents and databases
    Customer payments
    Internal Information Sources
    Salesperson generated data
    Salesperson information systems
    Management Documents
    Marketing Plans
    5-8
  • 9. From the Customer’s Order to Order Fulfillment
    Identify the frequency and size of customer orders
    Determine the actual cost of a customer order
    Rank customers based on established criteria like profitability
    Calculate the efficiency of the company’s production, and distribution system
    5-9
  • 10. Heard on the Street – Sales Information System
    Formal systems for collecting data (getting the data)
    Interpretation of data (analysis)
    Distribution of data (getting the analysis to decision makers and back into the field)
    5-10
  • 11. External Sources
    Collecting Information Outside the Company
    Most companies engage in collecting, analyzing, and storing data from the macro environment on a continuous basis known as marketing intelligence.
    5-11
  • 12. External Forces Affect Marketing Decisions
    Exhibit 5.3
    External Forces
    Political/
    Legal
    Environment
    Economic Conditions
    Technology Transformations
    Natural World
    Demographic
    Competition
    Population of Interest
    Ethnic Groups
    Geographic Changes
    5-12
  • 13. External Sources
    5-13
  • 14. External Sources
    5-14
  • 15. MARKETING RESEARCH SYSTEMS
    The Importance of Market Research to Managers
    Good Marketing Research…
    Follows a well defined set of activities and does not happen by accident.
    Enhances the validity of the information.
    Is impartial and objective.
    5-15
  • 16. The Marketing Research Process
    Exhibit 5.7
    Define the Research Problem
    Establish Research Design
    Search Secondary Sources
    Collect
    the
    Data
    Analyze
    the Data
    Report
    the Findings
    5-16
  • 17. The MARKETING RESEARCH Process
    Management Research Deliverable
    Define the Research Problem
    5-17
  • 18. Research Design Activities
    EXHIBIT 5.8
    5-18
  • 19. Establish the Research Design
    5-19
  • 20. Establish the Research Design
    Exploratory research
    Clarify the research problem.
    Develop hypotheses for testing in descriptive or causal research.
    Gain additional insight to help in survey development or to identify other research variables for study.
    Answers the research question.
    5-20
  • 21. Establish the Research Design
    Descriptive research
    Identify the characteristics of our target market.
    Assess competitor actions in the marketplace.
    Determine how customers use our products.
    Discover differences across demographic characteristics (age, education, income) with respect to the use of our products or our competitors.
    5-21
  • 22. Establish the Research Design
    Benefit vs. Cost
    Time Until Decision
    Nature of the Decision
    Availability of Data
    5-22
  • 23. Nature of Data – What kind of data do we need?
    Primary Data
    Qualitative research
    Quantitative research
    Secondary Data
    5-23
  • 24. Nature of Data Collection – How Should the Data be Collected?
    Exploratory Research Techniques
    Focus group
    In-depth interview
    5-24
  • 25. Nature of Data Collection – How Should the Data be Collected?
    Descriptive Research Techniques
    Surveys
    Behavioral data
    Observational data
    Mechanical observation
    5-25
  • 26. Information Content – What Do We Need to Know?
    A critical part of research design involves determining exactly what information is needed and how to frame the questions to get that information.
    5-26
  • 27. Search Secondary Sources
    Government Sources
    Market Research Organizations
    The Internet
    5-27
  • 28. MARKETING RESEARCH Process
    Collect the Data
    Analyze the Data
    Report the Findings
    5-28
  • 29. MARKETING RESEARCH Process
    Market Research Technology
    Online Research Tools
    Online Databases
    Online Focus Groups
    Online Sampling
    5-29
  • 30. Market Research Challenges in Global Markets
    5-30
  • 31. Market Research Challenges in Global Markets
    5-31
  • 32. 32
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