The document discusses developing marketing information through internal databases, competitive marketing intelligence, and marketing research. It covers obtaining secondary and primary data, different research methods like surveys, experiments, and tracking online behavior. Sampling plans and interpreting findings are also discussed. The goal is to gather relevant information from various sources to inform marketing decisions.
This document discusses strategic planning and marketing strategies. It covers developing a mission statement, setting objectives and goals, analyzing business portfolios, and identifying growth strategies. It also discusses partnering with customers and suppliers in a value delivery network. When developing marketing strategies, companies segment markets, target specific segments, and position products. The marketing mix of product, price, place, and promotion is used to appeal to targeted customer segments.
This document provides an overview of consumer markets and consumer buyer behavior. It discusses key topics like the model of consumer behavior, characteristics affecting consumer behavior, types of buying decision behavior, and the buyer decision process. The characteristics discussed include cultural, social, personal, and psychological factors that influence consumer behavior. It also examines the stages of the buyer decision process, from need recognition to post-purchase evaluation, and the adoption process for new products.
The document provides an overview of how companies analyze their marketing environment. It discusses both the microenvironment, which includes factors close to the company like suppliers, marketing intermediaries, customers and competitors. It also discusses the macroenvironment, which includes broader forces like demographic, economic, technological, political and cultural factors. Specifically, it outlines trends in the demographic environment like the aging population and increasing diversity. It also notes major trends in the natural environment like resource shortages and pollution, and in technology like its ability to create new opportunities. Overall the document introduces the key elements of a company's internal and external marketing environment that must be considered for strategic planning.
This document provides an overview of managing marketing information and gaining customer insights. It discusses assessing marketing information needs, developing marketing information through internal data, marketing intelligence, and marketing research. It also covers analyzing marketing information using tools like customer relationship management. The goal is to gain fresh insights into customer needs and wants that are difficult to obtain through better use of information.
Principlesof marketing 05 [compatibility mode]Fraz Ali
This document provides an overview of consumer buyer behavior and the consumer decision-making process. It discusses key topics like the model of consumer behavior, characteristics that influence consumer decisions including cultural, social, personal, and psychological factors. It also outlines the stages in the buyer decision process: need recognition, information search, evaluation of alternatives, purchase decision, and post-purchase evaluation. Finally, it covers the adoption process for new products.
- Direct marketing is an interactive marketing system that uses media to effect a measurable response. It is growing, especially in electronic formats.
- Direct marketers plan campaigns by deciding objectives, targets, offers and prices, then test and measure success.
- Major direct marketing channels include face-to-face, direct mail, catalogs, telemarketing, interactive TV, websites and mobile devices.
- Customer relationship management often requires building customer databases and data mining to detect trends, segments and needs, with significant risks to consider.
1. The document discusses the importance and role of marketing in business. It explains that marketing is the process of creating, communicating, and delivering value to customers in a way that benefits both the customer and the organization.
2. Marketers manage demand for a variety of products and services. They seek to influence factors like demand levels, timing and composition. Marketers also operate in different marketplaces like consumer, business, and nonprofit.
3. The document outlines the key concepts in marketing including the production concept, product concept, selling concept and marketing concept. It emphasizes that the marketing concept and holistic marketing concept are most effective today given changes in the business environment and rise of technologies.
Introduction to Marketing By Philp Kotler Lecture No 1.0Khurshid Swati
This document provides an introduction and objectives for a marketing lecture. It discusses key concepts in marketing like defining needs, wants and demands. It also examines products and services, values, and the marketing process. The lecture will cover the definition of marketing, its importance and scope, the nature and concept of marketing, and how marketing relates to society. The objectives for the first week are also listed.
This document discusses strategic planning and marketing strategies. It covers developing a mission statement, setting objectives and goals, analyzing business portfolios, and identifying growth strategies. It also discusses partnering with customers and suppliers in a value delivery network. When developing marketing strategies, companies segment markets, target specific segments, and position products. The marketing mix of product, price, place, and promotion is used to appeal to targeted customer segments.
This document provides an overview of consumer markets and consumer buyer behavior. It discusses key topics like the model of consumer behavior, characteristics affecting consumer behavior, types of buying decision behavior, and the buyer decision process. The characteristics discussed include cultural, social, personal, and psychological factors that influence consumer behavior. It also examines the stages of the buyer decision process, from need recognition to post-purchase evaluation, and the adoption process for new products.
The document provides an overview of how companies analyze their marketing environment. It discusses both the microenvironment, which includes factors close to the company like suppliers, marketing intermediaries, customers and competitors. It also discusses the macroenvironment, which includes broader forces like demographic, economic, technological, political and cultural factors. Specifically, it outlines trends in the demographic environment like the aging population and increasing diversity. It also notes major trends in the natural environment like resource shortages and pollution, and in technology like its ability to create new opportunities. Overall the document introduces the key elements of a company's internal and external marketing environment that must be considered for strategic planning.
This document provides an overview of managing marketing information and gaining customer insights. It discusses assessing marketing information needs, developing marketing information through internal data, marketing intelligence, and marketing research. It also covers analyzing marketing information using tools like customer relationship management. The goal is to gain fresh insights into customer needs and wants that are difficult to obtain through better use of information.
Principlesof marketing 05 [compatibility mode]Fraz Ali
This document provides an overview of consumer buyer behavior and the consumer decision-making process. It discusses key topics like the model of consumer behavior, characteristics that influence consumer decisions including cultural, social, personal, and psychological factors. It also outlines the stages in the buyer decision process: need recognition, information search, evaluation of alternatives, purchase decision, and post-purchase evaluation. Finally, it covers the adoption process for new products.
- Direct marketing is an interactive marketing system that uses media to effect a measurable response. It is growing, especially in electronic formats.
- Direct marketers plan campaigns by deciding objectives, targets, offers and prices, then test and measure success.
- Major direct marketing channels include face-to-face, direct mail, catalogs, telemarketing, interactive TV, websites and mobile devices.
- Customer relationship management often requires building customer databases and data mining to detect trends, segments and needs, with significant risks to consider.
1. The document discusses the importance and role of marketing in business. It explains that marketing is the process of creating, communicating, and delivering value to customers in a way that benefits both the customer and the organization.
2. Marketers manage demand for a variety of products and services. They seek to influence factors like demand levels, timing and composition. Marketers also operate in different marketplaces like consumer, business, and nonprofit.
3. The document outlines the key concepts in marketing including the production concept, product concept, selling concept and marketing concept. It emphasizes that the marketing concept and holistic marketing concept are most effective today given changes in the business environment and rise of technologies.
Introduction to Marketing By Philp Kotler Lecture No 1.0Khurshid Swati
This document provides an introduction and objectives for a marketing lecture. It discusses key concepts in marketing like defining needs, wants and demands. It also examines products and services, values, and the marketing process. The lecture will cover the definition of marketing, its importance and scope, the nature and concept of marketing, and how marketing relates to society. The objectives for the first week are also listed.
This document provides an overview of key topics in business markets and business buying behavior. It defines business markets and explains how they differ from consumer markets. The major factors that influence business buyer behavior and the typical steps in the business buying decision process are outlined. Different types of business buying situations like straight rebuy, modified rebuy, and new tasks are defined. The participants in business buying centers and the major influences on business buyers, including environmental, organizational, and interpersonal factors, are also summarized. Finally, it distinguishes institutional and government markets and how buyers in those markets make purchasing decisions.
Principles of MARKETING - Managing Marketing Information to gain Customer Ins...Ramil Jabbarov
The document discusses managing marketing information and gaining customer insights. It defines marketing information systems and their purpose of assessing information needs and developing insights. It also outlines the marketing research process, including defining problems, developing secondary and primary research plans, methods for data collection such as surveys and focus groups, and analyzing and using findings to support decisions. The goal is to transform marketing information into deep understandings of customers that can guide business strategies.
The document discusses key aspects of marketing information systems and market research. It begins by outlining the steps in the market research process which includes defining problems/objectives, developing a research plan, implementing the plan by collecting/analyzing data, and interpreting/reporting findings. It then defines the marketing information system as consisting of people, equipment and procedures to gather, analyze and distribute timely and accurate information to decision makers. Lastly, it discusses how companies analyze information using statistical analysis and CRM software, and distribute it through reporting, databases and intranets.
The document summarizes key aspects of managing a sales force as discussed in Chapter 1. It outlines six common sales positions, from deliverer to solution vendor. It also discusses designing the sales force structure, including territorial versus product/market structures. Finally, it covers recruiting, training, supervising, motivating and evaluating sales representatives.
This document discusses products as a key element of a market offering. It explains that customers purchase more than just the core product, as there is a customer value hierarchy where other attributes like branding and customer experience are also important. Products can create competitive advantages through differentiation in their form, features, quality, durability, reliability, and customization. The document concludes with an example of how the Black Nazarene Hospital in the Philippines has differentiated itself in the healthcare market through its focus on accessibility and proficient care.
The document discusses marketing research and outlines the steps involved in conducting good marketing research. It describes the scope of marketing research, who conducts it, and how small companies can do research. The key steps in the marketing research process are defined as: 1) define the problem and objectives, 2) develop a research plan including data sources, approaches, instruments and sampling, 3) collect information, 4) analyze the information, 5) present findings, and 6) make a decision. Good marketing research is described as well-planned, well-executed, focused and leading to effective decision making. Metrics for measuring marketing productivity include marketing metrics, marketing-mix modeling and marketing dashboards.
Sales organisation sales force management(2)Gurjit
The document discusses organizing and staffing a salesforce. It covers different types of sales organizations including line, line and staff, functional, and horizontal organizations. It also discusses specialization within sales organizations based on geography, products, markets, and combinations. The size of the salesforce can be determined using workload, sales potential, and incremental methods. Staffing the salesforce is a multi-stage process involving planning, recruiting, selecting, hiring, and socializing. Planning involves determining needs, job analysis and descriptions. Recruiting sources can be internal or external. Selection tools include screening, interviews, testing, and reference checks.
Products, Services, and Brands Building Customer ValueInocentshuja Ahmad
This document summarizes key points from Chapter 8 about products, services, and branding. It discusses what defines a product, different types of consumer and industrial products, and how products are classified. It also covers product attributes, decisions around quality, features, style, branding, packaging and product lines. Additionally, it discusses branding strategy, building strong brands, and strategies for marketing services, including the service-profit chain and importance of internal marketing for service firms.
This document provides an overview of sales force management and personal selling. It discusses the role of selling in marketing, types of selling functions, key qualities of salespeople, and sales management planning and activities. It also summarizes consumer and organizational buyer behaviors, factors that influence purchasing decisions, and techniques for personal selling including preparing for sales calls and negotiations.
This document discusses consumer and business buyer behavior. It covers the factors that influence consumer and business decisions, the stages in the consumer and business decision processes, and the adoption of new products. The learning objectives are to understand consumer markets and behavior, the stages in the consumer decision process, and new product adoption. It also aims to define business markets, understand the factors in business behavior, and the steps in the business buying decision process.
Business Markets And Business Buying BehaviorFaHaD .H. NooR
Business Markets
Business Buyer Behavior
The Business Buying Process
E-Procurement: Buying on the Internet
Institutional and Government Markets
Business buyer behavior refers to the buying behavior of the organizations that buy goods and services for use in production of other products and services that are sold, rented, or supplied to others.
Business buying process is the process where business buyers determine which products and services are needed to purchase, and then find, evaluate, and choose among alternative brands
Supplier development is the systematic development of networks of supplier-partners to ensure an appropriate and dependable supply of products and materials that they will resell or use in making their own products
In this file, you can ref top materials for area sales manager position such as area sales manager key duties/responsibilities, area sales manager qualifications, sales forms, sales job search materials…
This document discusses marketing research and its process. It defines marketing research as the systematic design, collection, analysis and reporting of data relevant to a specific marketing situation. The marketing research process involves defining the problem, developing a research plan, collecting information, analyzing the information and presenting findings. Various research approaches, instruments, sampling plans and contact methods are discussed.
This document defines marketing and marketing management. It discusses that marketing is about creating and delivering value for customers and managing customer relationships to benefit an organization. Marketing management involves choosing target markets and gaining, retaining, and growing customers through superior value. The document also outlines core marketing concepts like segmentation, branding, and the marketing mix of product, price, place, and promotion. It describes the key tasks of marketing management as developing strategies, gaining customer insights, connecting with customers, and communicating value to create long-term growth.
This document outlines the consumer research process. It discusses the importance of understanding customers and outlines the key steps in research including establishing objectives, secondary research, qualitative and quantitative primary research, data analysis and reporting. It provides examples of common research methods like interviews, focus groups, experiments and surveys and how they are used to understand consumer needs, test concepts and measure outcomes.
This document discusses business markets and business buyer behavior. It defines business markets as markets where organizations purchase goods and services for resale or use in production. The key characteristics of business markets are fewer but larger buyers, demand derived from final consumer demand, more inelastic demand that fluctuates quickly. Business purchases involve multiple buyers in a formal buying process. The document outlines the business buying process and different types of buying situations. It also discusses the participants in the buying center and major influences on business buyers, including environmental, organizational, interpersonal, and individual factors. Finally, it briefly touches on institutional markets that serve organizations like hospitals and schools, as well as government markets.
Principles of Marketing Chapter 5 Consumer Markets and Consumer Buying BehaviorDr. John V. Padua
This document summarizes consumer buying behavior and the consumer decision process. It outlines factors that influence consumer behavior such as cultural, social, personal and psychological characteristics. It also describes a model of consumer behavior and the stages of the buyer decision process, including need recognition, information search, evaluation of alternatives, purchase decision, and post-purchase behavior. Marketers aim to understand how consumers respond to marketing efforts during each stage of the decision process.
This document discusses business markets and organizational buying. It covers key differences between business and consumer markets. The business buying process involves multiple roles and stages. Buyers consider various factors like price, quality, and relationships. Suppliers build trust and collaborate with buyers to establish long-term relationships. Various research methods and tools help understand customer needs better to improve the buying and decision process.
This document provides an overview of key concepts in company and marketing strategy discussed in Chapter 2, including companywide strategic planning, designing the business portfolio, planning marketing through partnerships, marketing strategy and the marketing mix, and managing the marketing effort. Specific topics covered include defining a market-oriented mission, analyzing the current business portfolio, developing strategies for growth and downsizing, partnering through the value chain and value delivery network, segmenting and targeting markets, developing an integrated marketing mix, creating a marketing plan, organizing the marketing department, controlling marketing performance, and calculating return on marketing investment.
The document discusses marketing research and metrics. It describes the marketing research process as having 6 steps: 1) define the problem, 2) develop a research plan, 3) collect information, 4) analyze the information, 5) present findings, and 6) make a decision. It also discusses characteristics of good marketing research and different metrics that can be used to measure marketing productivity such as awareness, market share, and customer satisfaction. Marketing-mix modeling and dashboards are presented as tools to quantify and interpret various marketing metrics.
Mengelola Informasi Pemasaran - Bab 4 Prinsip-prinsip Pemasaran Kotler ArmstrongMirza Syah
Dokumen tersebut membahas proses manajemen informasi pemasaran perusahaan, mulai dari pengumpulan data internal dan eksternal, pengembangan sistem informasi pemasaran, hingga pelaksanaan riset pasar untuk mendukung pengambilan keputusan."
This document summarizes key topics from Chapter 3 of a marketing textbook. It discusses analyzing a company's internal microenvironment including departments like management, suppliers, marketing intermediaries, competitors, and publics. It also analyzes the external macroenvironment that affects marketing, including demographic trends in population, economic factors like income and spending patterns, natural resources, technological changes, political/legal issues, and cultural values in society. The chapter outlines how companies must respond to changes in both their internal and external operating environment.
This document provides an overview of key topics in business markets and business buying behavior. It defines business markets and explains how they differ from consumer markets. The major factors that influence business buyer behavior and the typical steps in the business buying decision process are outlined. Different types of business buying situations like straight rebuy, modified rebuy, and new tasks are defined. The participants in business buying centers and the major influences on business buyers, including environmental, organizational, and interpersonal factors, are also summarized. Finally, it distinguishes institutional and government markets and how buyers in those markets make purchasing decisions.
Principles of MARKETING - Managing Marketing Information to gain Customer Ins...Ramil Jabbarov
The document discusses managing marketing information and gaining customer insights. It defines marketing information systems and their purpose of assessing information needs and developing insights. It also outlines the marketing research process, including defining problems, developing secondary and primary research plans, methods for data collection such as surveys and focus groups, and analyzing and using findings to support decisions. The goal is to transform marketing information into deep understandings of customers that can guide business strategies.
The document discusses key aspects of marketing information systems and market research. It begins by outlining the steps in the market research process which includes defining problems/objectives, developing a research plan, implementing the plan by collecting/analyzing data, and interpreting/reporting findings. It then defines the marketing information system as consisting of people, equipment and procedures to gather, analyze and distribute timely and accurate information to decision makers. Lastly, it discusses how companies analyze information using statistical analysis and CRM software, and distribute it through reporting, databases and intranets.
The document summarizes key aspects of managing a sales force as discussed in Chapter 1. It outlines six common sales positions, from deliverer to solution vendor. It also discusses designing the sales force structure, including territorial versus product/market structures. Finally, it covers recruiting, training, supervising, motivating and evaluating sales representatives.
This document discusses products as a key element of a market offering. It explains that customers purchase more than just the core product, as there is a customer value hierarchy where other attributes like branding and customer experience are also important. Products can create competitive advantages through differentiation in their form, features, quality, durability, reliability, and customization. The document concludes with an example of how the Black Nazarene Hospital in the Philippines has differentiated itself in the healthcare market through its focus on accessibility and proficient care.
The document discusses marketing research and outlines the steps involved in conducting good marketing research. It describes the scope of marketing research, who conducts it, and how small companies can do research. The key steps in the marketing research process are defined as: 1) define the problem and objectives, 2) develop a research plan including data sources, approaches, instruments and sampling, 3) collect information, 4) analyze the information, 5) present findings, and 6) make a decision. Good marketing research is described as well-planned, well-executed, focused and leading to effective decision making. Metrics for measuring marketing productivity include marketing metrics, marketing-mix modeling and marketing dashboards.
Sales organisation sales force management(2)Gurjit
The document discusses organizing and staffing a salesforce. It covers different types of sales organizations including line, line and staff, functional, and horizontal organizations. It also discusses specialization within sales organizations based on geography, products, markets, and combinations. The size of the salesforce can be determined using workload, sales potential, and incremental methods. Staffing the salesforce is a multi-stage process involving planning, recruiting, selecting, hiring, and socializing. Planning involves determining needs, job analysis and descriptions. Recruiting sources can be internal or external. Selection tools include screening, interviews, testing, and reference checks.
Products, Services, and Brands Building Customer ValueInocentshuja Ahmad
This document summarizes key points from Chapter 8 about products, services, and branding. It discusses what defines a product, different types of consumer and industrial products, and how products are classified. It also covers product attributes, decisions around quality, features, style, branding, packaging and product lines. Additionally, it discusses branding strategy, building strong brands, and strategies for marketing services, including the service-profit chain and importance of internal marketing for service firms.
This document provides an overview of sales force management and personal selling. It discusses the role of selling in marketing, types of selling functions, key qualities of salespeople, and sales management planning and activities. It also summarizes consumer and organizational buyer behaviors, factors that influence purchasing decisions, and techniques for personal selling including preparing for sales calls and negotiations.
This document discusses consumer and business buyer behavior. It covers the factors that influence consumer and business decisions, the stages in the consumer and business decision processes, and the adoption of new products. The learning objectives are to understand consumer markets and behavior, the stages in the consumer decision process, and new product adoption. It also aims to define business markets, understand the factors in business behavior, and the steps in the business buying decision process.
Business Markets And Business Buying BehaviorFaHaD .H. NooR
Business Markets
Business Buyer Behavior
The Business Buying Process
E-Procurement: Buying on the Internet
Institutional and Government Markets
Business buyer behavior refers to the buying behavior of the organizations that buy goods and services for use in production of other products and services that are sold, rented, or supplied to others.
Business buying process is the process where business buyers determine which products and services are needed to purchase, and then find, evaluate, and choose among alternative brands
Supplier development is the systematic development of networks of supplier-partners to ensure an appropriate and dependable supply of products and materials that they will resell or use in making their own products
In this file, you can ref top materials for area sales manager position such as area sales manager key duties/responsibilities, area sales manager qualifications, sales forms, sales job search materials…
This document discusses marketing research and its process. It defines marketing research as the systematic design, collection, analysis and reporting of data relevant to a specific marketing situation. The marketing research process involves defining the problem, developing a research plan, collecting information, analyzing the information and presenting findings. Various research approaches, instruments, sampling plans and contact methods are discussed.
This document defines marketing and marketing management. It discusses that marketing is about creating and delivering value for customers and managing customer relationships to benefit an organization. Marketing management involves choosing target markets and gaining, retaining, and growing customers through superior value. The document also outlines core marketing concepts like segmentation, branding, and the marketing mix of product, price, place, and promotion. It describes the key tasks of marketing management as developing strategies, gaining customer insights, connecting with customers, and communicating value to create long-term growth.
This document outlines the consumer research process. It discusses the importance of understanding customers and outlines the key steps in research including establishing objectives, secondary research, qualitative and quantitative primary research, data analysis and reporting. It provides examples of common research methods like interviews, focus groups, experiments and surveys and how they are used to understand consumer needs, test concepts and measure outcomes.
This document discusses business markets and business buyer behavior. It defines business markets as markets where organizations purchase goods and services for resale or use in production. The key characteristics of business markets are fewer but larger buyers, demand derived from final consumer demand, more inelastic demand that fluctuates quickly. Business purchases involve multiple buyers in a formal buying process. The document outlines the business buying process and different types of buying situations. It also discusses the participants in the buying center and major influences on business buyers, including environmental, organizational, interpersonal, and individual factors. Finally, it briefly touches on institutional markets that serve organizations like hospitals and schools, as well as government markets.
Principles of Marketing Chapter 5 Consumer Markets and Consumer Buying BehaviorDr. John V. Padua
This document summarizes consumer buying behavior and the consumer decision process. It outlines factors that influence consumer behavior such as cultural, social, personal and psychological characteristics. It also describes a model of consumer behavior and the stages of the buyer decision process, including need recognition, information search, evaluation of alternatives, purchase decision, and post-purchase behavior. Marketers aim to understand how consumers respond to marketing efforts during each stage of the decision process.
This document discusses business markets and organizational buying. It covers key differences between business and consumer markets. The business buying process involves multiple roles and stages. Buyers consider various factors like price, quality, and relationships. Suppliers build trust and collaborate with buyers to establish long-term relationships. Various research methods and tools help understand customer needs better to improve the buying and decision process.
This document provides an overview of key concepts in company and marketing strategy discussed in Chapter 2, including companywide strategic planning, designing the business portfolio, planning marketing through partnerships, marketing strategy and the marketing mix, and managing the marketing effort. Specific topics covered include defining a market-oriented mission, analyzing the current business portfolio, developing strategies for growth and downsizing, partnering through the value chain and value delivery network, segmenting and targeting markets, developing an integrated marketing mix, creating a marketing plan, organizing the marketing department, controlling marketing performance, and calculating return on marketing investment.
The document discusses marketing research and metrics. It describes the marketing research process as having 6 steps: 1) define the problem, 2) develop a research plan, 3) collect information, 4) analyze the information, 5) present findings, and 6) make a decision. It also discusses characteristics of good marketing research and different metrics that can be used to measure marketing productivity such as awareness, market share, and customer satisfaction. Marketing-mix modeling and dashboards are presented as tools to quantify and interpret various marketing metrics.
Mengelola Informasi Pemasaran - Bab 4 Prinsip-prinsip Pemasaran Kotler ArmstrongMirza Syah
Dokumen tersebut membahas proses manajemen informasi pemasaran perusahaan, mulai dari pengumpulan data internal dan eksternal, pengembangan sistem informasi pemasaran, hingga pelaksanaan riset pasar untuk mendukung pengambilan keputusan."
This document summarizes key topics from Chapter 3 of a marketing textbook. It discusses analyzing a company's internal microenvironment including departments like management, suppliers, marketing intermediaries, competitors, and publics. It also analyzes the external macroenvironment that affects marketing, including demographic trends in population, economic factors like income and spending patterns, natural resources, technological changes, political/legal issues, and cultural values in society. The chapter outlines how companies must respond to changes in both their internal and external operating environment.
Chap 3, analyzing the marketing environmentRajesh Kumar
The document discusses the marketing environment and its internal and external factors. It summarizes that the marketing environment includes a company's microenvironment of departments and macroenvironment external forces that influence marketing activities. It also outlines the key elements of a company's internal microenvironment and external macroenvironment forces like demographics, economy, natural environment, technology, politics, and culture.
This document discusses conducting marketing research and forecasting demand. It covers various topics such as data sources, research approaches, sampling plans, research instruments, and contact methods for qualitative and quantitative research. Specific techniques are mentioned like questionnaires, word association, projective techniques, visualization, and laddering. Probability and non-probability sampling are also covered. The key benefits of exemplary marketing research are highlighted as resulting in excellent customer satisfaction.
This presentation discusses primary and secondary data collection methods. It begins by defining primary data as original data collected specifically for the research purpose, such as through surveys and interviews. Secondary data refers to data previously collected by others, such as published sources. Both data types are useful but have tradeoffs - primary data directly addresses the research question while secondary data is easier to obtain but may not be specific. The presentation provides examples of primary and secondary data collection techniques and their respective advantages and disadvantages.
Marketing research involves systematically collecting and analyzing information to help solve marketing problems or identify opportunities. International marketing research occurs at different levels from general country assessments to specific market information. It helps identify foreign opportunities, understand customer needs, and develop international strategies. Research uses primary and secondary data sources and can be exploratory, descriptive, or causal. It also uses qualitative and quantitative methodologies. The research process involves defining objectives, developing a plan, collecting information, analyzing data, and presenting findings.
Principlesof marketing 04 [compatibility mode]Fraz Ali
This document provides an overview of managing marketing information and gaining customer insights. It discusses assessing marketing information needs, developing marketing information through internal data, marketing intelligence, and marketing research. Marketing research involves defining problems, developing a research plan, collecting and analyzing data, and reporting results. The document also covers analyzing and using marketing information through customer relationship management, as well as distributing and using the information.
An MIS consists of three parts: people who gather and use the information, equipment like databases to store it, and processes for collecting, analyzing and sharing it. The system helps assess needs, develop useful internal and external data, and distribute findings. However, managers must balance information wants with needs and feasibility given limitations. Too much unfocused data can create overload instead of insights.
Marketing research involves systematically collecting and analyzing data to help companies address specific marketing problems. It follows a standard process: 1) define the problem, 2) develop a research plan outlining approaches and instruments for collecting information, and 3) gather, analyze, and present findings to aid decision making. Common market research methods include surveys, experiments, and focus groups. Questionnaires are a primary tool and must be designed carefully to obtain accurate responses. Samples of consumers or businesses are typically surveyed to represent the overall population.
Lecture presented on the advanced course: ‘RESEARCH APPLICATIONS IN SEAFOOD MARKETING’, organized by IAMZ – CIHEAM, The Mediterranan Agronomic Institutue of Zaragoza (Spain), 10-14 December 2012
This document outlines the process and challenges of international marketing research. It describes the various types of research conducted, including industry analyses, buyer behavior studies, product testing, and pricing studies. The key steps in the international marketing research process are defined as: 1) identifying the research problem and objectives, 2) setting specific objectives, 3) developing a research plan, 4) defining information sources, 5) designing data collection instruments, 6) deciding on sampling, and 7) collecting, analyzing and interpreting data. Challenges include issues of conceptual and functional equivalence of data across cultures, availability and reliability of secondary data, and the higher costs of primary data collection in foreign markets. Decision support systems can help with sales forecasting and point of
Strategic management involves formulating, implementing, and evaluating cross-functional decisions to achieve organizational objectives. It includes analyzing external opportunities and threats as well as internal strengths and weaknesses. The strategic management process then formulates long-term objectives and strategies, implements those strategies, and evaluates performance. Effective strategic management can provide competitive advantage and benefits such as improved performance and coordination.
The document outlines the 6 steps of the marketing research process: 1) define the problem and objectives, 2) develop a research plan including determining data sources, research approaches, instruments, and sampling, 3) collect information, 4) analyze the collected information, 5) present the findings, and 6) make a decision based on the findings. Key aspects of developing the research plan discussed further include the 5 common research approaches, 3 types of research instruments, and 3 factors to determine for the sampling plan.
This document provides guidance for writing the methodology section of a research paper. It recommends describing each data collection method used and why, being specific about how the data was collected including sample size, location, and relevant factors, and considering including an annotated map showing data collection locations and copies of recording sheets. The document also suggests mentioning any equipment made or tools used, using consistent geography terms, and clarifying independent and group work.
This document defines marketing and marketing management. It discusses that marketing management is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services. The goal is to create exchanges that satisfy individual and organizational objectives. Marketing management is also defined as choosing target markets and getting, keeping, and growing customers by creating, delivering, and communicating superior customer value. Marketing can involve goods, services, events, people, organizations, ideas and more. The document also outlines the marketing research process including defining problems and objectives, developing a research plan, implementing the plan, interpreting findings, and reporting them.
The document summarizes key concepts in marketing including:
1) Defining marketing and outlining the marketing process of creating value for customers and capturing value from customers in return.
2) Examining core customer and marketplace concepts like needs, wants, demands, market offerings, and customer value and satisfaction.
3) Discussing elements of a customer-driven marketing strategy including market segmentation, targeting, and determining a value proposition.
This document discusses marketing information systems and the marketing research process. It explains that a marketing information system consists of people, equipment, and procedures to gather, analyze, and distribute market information to aid in decision making. The key functions of a MIS are to assess information needs, develop information internally and through marketing research, and distribute information to the right managers. The marketing research process involves defining the problem, developing a research plan, implementing the plan by collecting and analyzing data, and reporting findings.
International marketing research faces many challenges due to differences in cultures, languages, and business environments across countries. It involves systematically defining problems, collecting and analyzing both secondary and primary data, and interpreting the findings to make informed marketing decisions for international operations. Primary data collection has higher costs overseas and requires consideration of translation issues, instrument reliability, and reluctance of some respondents. Both qualitative and quantitative research approaches can be used, with their own constraints to address.
This document provides an overview of key concepts in marketing, including definitions of marketing, products, needs and wants, value, exchange and relationships. It discusses marketing management philosophies like the production, product, selling and marketing concepts. It also outlines the marketing management process of analyzing situations, setting objectives and strategies, implementing tactics, and controlling results. The main goal of marketing is to manage markets to facilitate exchanges that satisfy human needs and wants.
Controllable and uncontrollable factors of international marketingGurleen Kaur
This document discusses controllable and uncontrollable factors in marketing, with a focus on globalization and the role of multinational corporations (MNCs). It provides examples of political, economic, socio-cultural, technological, and legal uncontrollable environmental factors. It then examines McDonald's controllable marketing mix strategies for the Indian market, including customized products, widespread locations, and varied pricing. Finally, it outlines how globalization has facilitated international trade and the growth of MNCs, providing benefits but also drawbacks to home and host countries.
This document outlines the marketing research process and marketing information system. It discusses assessing information needs, developing marketing information through internal databases, competitive intelligence, and marketing research. The marketing research process involves defining the problem, developing a research plan, collecting primary and secondary data, implementing the research plan, interpreting findings, and reporting results. The goal is to gain customer and market insights to inform business decisions. Ethics and privacy issues in research are also addressed.
Chp 4 managing information to gain customer insightsMohammed Razib
This document outlines the marketing research process and marketing information system. It discusses assessing information needs, developing marketing information through internal databases, competitive intelligence, and marketing research. The marketing research process involves defining the problem, developing a research plan, collecting primary and secondary data, implementing the research plan, interpreting findings, and reporting results. The goal is to gain customer and market insights to inform business decisions. Special considerations for marketing research include privacy, ethics, and international differences.
This document summarizes key points from Chapter 4 of a marketing textbook. It discusses the importance of obtaining fresh customer insights and how marketing information systems are used to assess customer needs, develop relevant information through research, and analyze data to gain insights. It also covers considerations for distributing information throughout a company and analyzing ethics in marketing research.
This document provides an overview of chapter 4 which discusses managing marketing information and gaining customer insights. It covers assessing marketing information needs, developing marketing information through internal data, marketing intelligence, and marketing research. It also discusses analyzing marketing information using tools like CRM, distributing and using the information, and other considerations around marketing research. The overall goal is to gain fresh insights into customer needs and wants through effective use of marketing information.
This document discusses managing marketing information. It outlines the marketing information system and the steps in the marketing research process. The marketing information system consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute timely and accurate information. Marketers can obtain internal data, marketing intelligence, and conduct marketing research to develop needed information. Marketing research involves defining problems/objectives, developing a research plan, implementing the plan through various methods, and reporting findings.
This document discusses managing marketing information. It outlines the marketing information system and the steps in the marketing research process. The marketing information system consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute timely and accurate information. Marketers can obtain internal data, marketing intelligence, and conduct marketing research to develop needed information. Marketing research involves defining problems/objectives, developing a research plan, implementing the plan through various methods, and reporting findings.
This document provides an overview of developing marketing information and customer insights. It discusses how companies are forming customer insights teams to collect information from various sources to better understand customer needs. It also describes how a marketing information system consists of people and processes for assessing information needs, developing needed information, and helping decision makers use the information. The document outlines the key steps in marketing research including defining the problem, developing a research plan, collecting primary and secondary data, using various research approaches and contact methods, developing sampling plans, and creating research instruments.
CHAPTER 4 PRINCIPLES OF MARKETING.pptx for studentsMariaErikaFerrer
This document discusses managing marketing information and gaining customer insights. It covers assessing marketing information needs, developing marketing information through various methods like internal data, marketing intelligence and marketing research, analyzing the information using tools like customer relationship management, distributing and using the information, and other considerations around marketing information. The overall goal is to help organizations better understand customers, their needs and behaviors to improve marketing decisions.
This document outlines chapter 4 of a marketing textbook, which discusses managing marketing information and gaining customer insights. The chapter covers assessing marketing information needs, developing marketing information through various methods like marketing research and customer relationship management, analyzing marketing information, and distributing and using the information. The overall goal is to provide companies with fresh insights into customer needs and wants in order to create more value for customers.
The document discusses managing marketing information and gaining customer insights. It covers topics such as assessing marketing information needs, developing marketing information through internal data, marketing intelligence and research. Marketing research involves defining problems, developing a research plan and sampling strategy, gathering primary and secondary data, analyzing findings and reporting results. The information is then distributed through databases and analyzed using tools like CRM to build stronger customer relationships.
Marketing techniques and strategies by kotlerjanafridi251
This document discusses managing marketing information and the marketing research process. It defines a marketing information system as consisting of people, equipment, and procedures that gather, analyze, and distribute needed information to decision makers. There are three main ways of developing information: internal data, marketing intelligence, and marketing research. Marketing research involves a systematic process of defining problems, developing research plans, collecting and analyzing data, and reporting findings. The document outlines key considerations for planning, conducting, analyzing, and distributing marketing research.
The document discusses principles of marketing and managing marketing information. It covers assessing marketing information needs, developing marketing information through internal data, marketing intelligence and marketing research. Marketing research involves defining problems, developing research plans, implementing plans, analyzing and reporting findings. It also discusses analyzing marketing information using tools like CRM, distributing information, and considerations around international research and ethics.
The document discusses managing marketing information and gaining customer insights. It defines marketing information systems and their purpose of assessing information needs and developing insights. It also outlines the marketing research process, including defining problems, developing secondary and primary research plans, methods for data collection such as surveys and focus groups, and analyzing and using findings to support decisions. The goal is to transform marketing information into deep understandings of customers that can guide business strategies.
This document discusses consumer and business buyer behavior. It covers the factors that influence consumer and business decisions, the stages in the consumer and business buying decision processes, and the adoption of new products. The learning objectives are to understand consumer markets and behavior, the stages in the consumer decision process, and new product adoption. It also aims to define business markets, understand the factors in business behavior, and the steps in the business buying decision process.
This document discusses consumer and business buyer behavior. It covers the factors that influence consumer and business decisions, the stages in the consumer and business decision processes, and the adoption of new products. The learning objectives are to understand consumer markets and behavior, the stages in the consumer decision process, and new product adoption. It also aims to define business markets, understand the factors in business behavior, and the steps in the business buying decision process.
Chapter 10: Gathering and Using Information: Marketing Research and Market In...tjamisonedu
The document discusses marketing research and market intelligence. It defines marketing research as gathering information to help with business decisions, such as developing new products or evaluating promotions. Market intelligence involves regularly collecting information on market trends. The document outlines the components of a marketing information system and provides examples of how companies gather market intelligence from sources like trade publications and customers. It also describes best practices for conducting marketing research, such as defining the problem, designing the study, collecting and analyzing the data.
The document discusses marketing research and the marketing research process. It describes 5 marketing problems that research could help address, such as a restaurant wanting to understand student dining habits and a company assessing advertising effectiveness. The 6 steps of the marketing research process are outlined as defining problems/objectives, developing a research plan, collecting information, analyzing the information, presenting findings, and making decisions. Various sources of marketing data are also examined, including internal records, secondary data, publicly and privately generated data, and methods for collecting primary data both online and in real-space.
This document discusses product and promotion concepts including product classifications, the product life cycle, integrated marketing communication, and positioning statements. It provides examples and descriptions of key terms like the difference between products and services, consumer and business product categories, branding, co-branding, packaging, and the promotional mix. The document examines these topics from both domestic and international perspectives to understand how to best create and communicate value to customers.
This document discusses key concepts around products, services, and branding. It defines products as tangible items or services that can satisfy wants or needs, while services are intangible activities or benefits offered for sale. Market offerings often include both goods and services. Products and services can be classified based on how and when consumers purchase them, such as convenience products bought frequently in daily life. The document also covers branding, packaging, product lines, product mixes, and positioning brands through attributes, benefits and values.
This document discusses key aspects of developing a customer-driven marketing strategy, including segmentation, targeting, differentiation, and positioning. It describes how to segment customers based on geographic, demographic, psychographic, and behavioral variables. The key steps in targeting involve evaluating segments, selecting target segments, and ensuring social responsibility. Differentiation involves creating superior customer value, while positioning is how a product is defined by consumers relative to attributes and competitors. An effective value proposition and positioning statement are also discussed.
The document discusses key topics relating to financial markets and securities. It provides information on the role of financial markets in the US economy and key players such as companies, individuals, and organizations. It also outlines major types of securities like common stock, preferred stock, and bonds. The document discusses how financial markets are regulated and some of the major laws governing their operations.
The document discusses small businesses and entrepreneurship. It covers why entrepreneurs start small businesses, the typical entrepreneurial mindset and characteristics, and various funding options for small businesses. The document also examines the opportunities and threats facing small businesses, as well as strategies for becoming a successful business owner such as developing a business plan and leveraging available resources. Small businesses and entrepreneurship are described as playing an important economic role in the United States through job and business creation.
The document discusses different forms of business ownership including sole proprietorships, partnerships, corporations, and limited liability companies. It provides details on the characteristics and legal structures of each type, as well as their advantages and disadvantages. The key points are that sole proprietorships are owned by a single individual, partnerships have two or more co-owners, corporations are separate legal entities that issue stock, and LLCs combine characteristics of corporations and partnerships.
This document outlines the key components of a company's marketing environment including the microenvironment, macroenvironment, demographic environment, economic environment, natural environment, technological environment, political environment, cultural environment, and how companies can respond either reactively or proactively. It provides learning objectives on describing these environmental forces and how changes within them affect marketing decisions.
The document outlines learning objectives and concepts related to strategic planning, marketing strategy, and marketing management. It discusses strategic planning steps including setting objectives and analyzing business portfolios. It also covers developing customer-driven marketing strategies, implementing marketing plans, and measuring marketing return on investment. Key topics include the marketing mix, market segmentation, positioning, and the roles of marketing in strategic planning and partnering with other departments.
The document discusses principles and techniques for effective business communication. It covers topics such as the importance of communication skills, elements of nonverbal communication, choosing appropriate communication channels, considering the audience, selecting the right words, and delivering verbal presentations. The document provides guidance on communicating clearly and successfully in a business environment.
The document discusses the relationship between ethics and social responsibility. It defines ethics as beliefs about right and wrong, and social responsibility as a business's obligation to contribute to society. The document emphasizes that ethics and social responsibility are closely related, as an ethical organization must consider its impact on various stakeholder groups like employees, customers, investors, and the community. It also provides frameworks for evaluating ethical decisions and creating an ethical organizational culture.
This document provides an overview of key business concepts. It discusses the role of businesses and non-profits in the economy. It also summarizes the evolution of business models from the industrial revolution to today's relationship era. Additionally, it outlines factors of production, trends impacting careers, and elements of the dynamic business environment.
The document discusses opportunities and challenges of global trade for businesses. It explains that while the global economy contracted in 2009, it has since recovered. Nations trade to access resources and markets beyond their borders. International trade is measured using metrics like balance of trade. Companies can reach global markets through strategies like exporting, licensing and foreign direct investment. However, barriers like cultural differences, trade policies and distance present challenges to global business. The document uses examples of fast food chains adapting menus in other countries to illustrate how businesses customize their offerings for local tastes overseas.
Main Java[All of the Base Concepts}.docxadhitya5119
This is part 1 of my Java Learning Journey. This Contains Custom methods, classes, constructors, packages, multithreading , try- catch block, finally block and more.
How to Setup Warehouse & Location in Odoo 17 InventoryCeline George
In this slide, we'll explore how to set up warehouses and locations in Odoo 17 Inventory. This will help us manage our stock effectively, track inventory levels, and streamline warehouse operations.
This slide is special for master students (MIBS & MIFB) in UUM. Also useful for readers who are interested in the topic of contemporary Islamic banking.
it describes the bony anatomy including the femoral head , acetabulum, labrum . also discusses the capsule , ligaments . muscle that act on the hip joint and the range of motion are outlined. factors affecting hip joint stability and weight transmission through the joint are summarized.
Executive Directors Chat Leveraging AI for Diversity, Equity, and InclusionTechSoup
Let’s explore the intersection of technology and equity in the final session of our DEI series. Discover how AI tools, like ChatGPT, can be used to support and enhance your nonprofit's DEI initiatives. Participants will gain insights into practical AI applications and get tips for leveraging technology to advance their DEI goals.
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...PECB
Denis is a dynamic and results-driven Chief Information Officer (CIO) with a distinguished career spanning information systems analysis and technical project management. With a proven track record of spearheading the design and delivery of cutting-edge Information Management solutions, he has consistently elevated business operations, streamlined reporting functions, and maximized process efficiency.
Certified as an ISO/IEC 27001: Information Security Management Systems (ISMS) Lead Implementer, Data Protection Officer, and Cyber Risks Analyst, Denis brings a heightened focus on data security, privacy, and cyber resilience to every endeavor.
His expertise extends across a diverse spectrum of reporting, database, and web development applications, underpinned by an exceptional grasp of data storage and virtualization technologies. His proficiency in application testing, database administration, and data cleansing ensures seamless execution of complex projects.
What sets Denis apart is his comprehensive understanding of Business and Systems Analysis technologies, honed through involvement in all phases of the Software Development Lifecycle (SDLC). From meticulous requirements gathering to precise analysis, innovative design, rigorous development, thorough testing, and successful implementation, he has consistently delivered exceptional results.
Throughout his career, he has taken on multifaceted roles, from leading technical project management teams to owning solutions that drive operational excellence. His conscientious and proactive approach is unwavering, whether he is working independently or collaboratively within a team. His ability to connect with colleagues on a personal level underscores his commitment to fostering a harmonious and productive workplace environment.
Date: May 29, 2024
Tags: Information Security, ISO/IEC 27001, ISO/IEC 42001, Artificial Intelligence, GDPR
-------------------------------------------------------------------------------
Find out more about ISO training and certification services
Training: ISO/IEC 27001 Information Security Management System - EN | PECB
ISO/IEC 42001 Artificial Intelligence Management System - EN | PECB
General Data Protection Regulation (GDPR) - Training Courses - EN | PECB
Webinars: https://pecb.com/webinars
Article: https://pecb.com/article
-------------------------------------------------------------------------------
For more information about PECB:
Website: https://pecb.com/
LinkedIn: https://www.linkedin.com/company/pecb/
Facebook: https://www.facebook.com/PECBInternational/
Slideshare: http://www.slideshare.net/PECBCERTIFICATION
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...Dr. Vinod Kumar Kanvaria
Exploiting Artificial Intelligence for Empowering Researchers and Faculty,
International FDP on Fundamentals of Research in Social Sciences
at Integral University, Lucknow, 06.06.2024
By Dr. Vinod Kumar Kanvaria
This presentation includes basic of PCOS their pathology and treatment and also Ayurveda correlation of PCOS and Ayurvedic line of treatment mentioned in classics.
How to Add Chatter in the odoo 17 ERP ModuleCeline George
In Odoo, the chatter is like a chat tool that helps you work together on records. You can leave notes and track things, making it easier to talk with your team and partners. Inside chatter, all communication history, activity, and changes will be displayed.
Marketers can obtain the needed marketing information from internal data, marketing intelligence, and marketing research. Each of these sources are discussed in greater depth in the following slides.
For example, financial services provider USAA uses its extensive database to tailor its services to the specific needs of individual customers, creating incredible loyalty.
Information in the database can come from many sources. Internal databases usually can be accessed more quickly and cheaply than other information sources, but they also present some problems. Because internal information is collected for other purposes, it may be incomplete or in the wrong form for making marketing decisions. Keeping the database current requires a major effort, and managing the mountains of information that a large company produces requires highly sophisticated equipment and techniques.
The goal of competitive marketing intelligence is to improve strategic decision making by understanding the consumer environment, assessing and tracking competitors’ actions, and providing early warnings of opportunities and threats.
Good marketing intelligence can help marketers gain insights into how consumers talk about and connect with their brands. Many companies have appointed chief listening officers, who sift through online customer conversations and pass along key insights to marketing decision makers. For example, Dell created a position called Listening Czar. PepsiCo’s Gatorade brand has created an extensive control center to monitor real-time brand-related social media activity.
Intelligence seekers can pour through any of thousands of online databases. Companies can obtain important intelligence information from suppliers, resellers, and key customers. It can monitor competitors’ Web sites and use the Internet to search specific competitor names, events, or trends and see what turns up. And tracking consumer conversations about competing brands is often as revealing as tracking conversations about the company’s own brands. For example, the U.S. Security and Exchange Commission’s database provides a huge stockpile of financial information on public competitors, and the U.S. Patent Office and Trademark database reveals patents that competitors have filed.
Some intelligence gathering techniques may involve questionable ethics. Companies should take advantage of publicly available information. However, they should not spy. With all the legitimate intelligence sources now available, a company does not need to break the law or accepted codes of ethics to get good intelligence.
Companies use marketing research in a wide variety of situations. For example, marketing research gives marketers insights into customer motivations, purchase behavior, and satisfaction. It can help them to assess market potential and market share or measure the effectiveness of pricing, product, distribution, and promotion activities.
Marketing research follows a process that has four steps: defining the problem and research objectives, developing the research plan, implementing the research plan, and interpreting and reporting the findings. Each of these stages is discussed in detail in the following slides.
To meet the manager’s information needs, the research plan can call for gathering secondary data, primary data, or both. Researchers usually start by gathering secondary data. The company’s internal database provides a good starting point. The company can also avail the wide assortment of external information sources. Using commercial online databases, marketing researchers can conduct their own searches of secondary data sources. Internet search engines can also help in locating relevant secondary information sources. However, they can also be very frustrating and inefficient.
Secondary data can usually be obtained more quickly and at a lower cost than primary data. Also, secondary sources can sometimes provide data an individual company cannot collect on its own, like data that is not available directly or would be too expensive to collect. For example, it would be too expensive for Red Bull’s marketers to conduct a continuing retail store audit to find out about the market shares, prices, and displays of competitors’ brands.
However, secondary data can also present problems. Researchers can rarely obtain all the data they need from secondary sources. For example, Red Bull will not find existing information regarding consumer reactions about a new enhanced-water line that it has not yet placed on the market. Even when data can be found, the information might not be very usable.
The researcher must evaluate secondary information carefully to make certain it is relevant, accurate, up-to-date, and impartial.
Even though the secondary data is a good starting point for collecting information, it is important that the company also collect primary data. Primary data consist of information collected for the specific purpose at hand.
To better understand the needs of the world’s poor, P&G sends researchers to observe consumers in their natural environments. Here, they watch Chinese potato farmer Wei Xiao Yan wash her long black hair with great care using only three cups of water.
This table shows that designing a plan for primary data collection calls for a number of decisions on research approaches, contact methods, the sampling plan, and research instruments. The following slides discuss each of these decisions in detail.
Observational and ethnographic research yield the kinds of details that don’t emerge from traditional research questionnaires or focus groups. For instance, Fisher-Price has established an observation lab in which it can observe the reactions children have to new toys.
A wide range of companies now use ethnographic research. For example, P&G sends ethnographic researchers trekking through the jungles of Brazil, the slums of India, and farming villages in rural China seeking insights into the needs of very-low-income consumers.
Survey research is the approach best suited for gathering descriptive information. The major advantage of survey research is its flexibility. Surveys addressing almost any marketing question or decision can be conducted by phone or mail, in person, or online. The disadvantages of survey research are that people may be unwilling to respond to unknown interviewers or answer questions about topics they consider private.
Whereas observation is best suited for exploratory research and surveys for descriptive research, experimental research is best suited for gathering causal information. Experimental research tries to explain cause-and-effect relationships. For example, before adding a new sandwich to its menu, McDonald’s might use experiments to test the effects on sales of two different prices it might charge.
Mail questionnaires can be used to collect large amounts of information at a low cost per respondent. Respondents may give more honest answers to more personal questions on a mail questionnaire than to an unknown interviewer. Mail questionnaires are not very flexible.
Telephone interviewing is one of the best methods for gathering information quickly, and it provides greater flexibility than mail questionnaires. Interviewers can explain difficult questions and, depending on the answers they receive, skip some questions or probe on others. The method introduces interviewer bias, which is the way interviewers talk, how they ask questions, and other differences that may affect respondents’ answers.
Personal interviewing takes two forms: individual interviewing and group interviewing.
Individual interviewing involves talking with people in their homes or offices, on the street, or in shopping malls. Such interviewing is flexible.
Group interviewing consists of inviting 6 to 10 people to meet with a trained moderator to talk about a product, service, or organization. A moderator encourages free and easy discussion, hoping that group interactions will bring out actual feelings and thoughts. At the same time, the moderator focuses the discussion, so group interviewing is also referred to as focus group interviewing.
Some companies use immersion groups which are small groups of consumers who interact directly and informally with product designers without a focus group moderator present. For example, Lexus hosted a series of “An Evening with Lexus” dinners with groups of customers in customers’ homes.
This table shows the strengths and weaknesses of each contact method.
Increasingly, researchers are collecting primary data through online marketing research. The Internet is especially well suited to quantitative research. Advantages of Internet-based surveys are speed and low costs. They also tend to be more interactive and engaging, easier to complete, and less intrusive. A primary qualitative Internet-based research approach is online focus groups. For example, FocusVision’s InterVu service lets focus group participants at remote locations see, hear, and react to each other in real-time, face-to-face discussions.
Both quantitative and qualitative Internet-based research have some drawbacks. One major problem is controlling who’s in the online sample. To overcome such sample and context problems, many online research firms use opt-in communities and respondent panels. Alternatively, many companies are now developing their own custom social networks and using them to gain customer inputs and insights.
Tracking consumers online might be as simple as scanning customer reviews and comments on the company’s brand site or on shopping sites such as Amazon.com or BestBuy.com. Or it might mean using sophisticated online-analysis tools to deeply analyze the mountains of consumer brand-related comments and messages found in blogs or on social media sites, such as Facebook, Yelp, YouTube, or Twitter.
In a practice called behavioral targeting, marketers use the online data to target ads and offers to specific consumers. For example, if you place a mobile phone in your Amazon.com shopping cart but don’t buy it, you might expect to see some ads for that very type of phone the next time you visit your favorite ESPN site to catch up on the latest sports scores.
Social targeting mines individual online social connections and conversations from social networking sites. Instead of just having a Zappos.com ad for running shoes pop up because you’ve recently searched online for running shoes (behavioral targeting), an ad for a specific pair of running shoes pops up because a friend that you’re connected to via Twitter just bought those shoes from Zappos.com last week (social targeting).
Marketing researchers usually draw conclusions about large groups of consumers by studying a small sample of the total consumer population. The sample should be representative of the population so that the researcher can make accurate estimates. Designing the sample requires three decisions. First, who is to be studied? Second, how many people should be included? Finally, how should the people in the sample be chosen?
The different types of samples fall under two basic categories: Probability samples and nonprobability samples.
The first type of probability sample is a simple random sample in which every member of the population has a known and equal chance of selection. With the stratified random sample, the population is divided into mutually exclusive groups (such as age groups), and random samples are drawn from each group. With a cluster (area) group, the population is divided into mutually exclusive groups (such as blocks), and the researcher draws sample of the groups to interview.
Under nonprobability samples, the first type is the convenience sample in which the researcher selects the easiest population members from which to obtain information. With the judgment sample, the researcher uses his or her judgment to select population members who are good prospects for accurate information. And the last type is the quota sample, where the researcher finds and interviews a prescribed number of people in each of several categories.
When probability sampling costs too much or takes too much time, marketing researchers take nonprobability samples, even though their sampling error cannot be measured. The best method to be used depends on the needs of the research project.
In collecting primary data, marketing researchers have a choice of two main research instruments: questionnaires and mechanical instruments.
A questionnaire is by far the most common instrument used for research. Closed-end questions include all the possible answers, and subjects make choices among them. Open-end questions allow respondents to answer in their own words. Open-end questions are especially useful in exploratory research, when the researcher is trying to find out what people think but is not measuring how many people think in a certain way. Closed-end questions, on the other hand, provide answers that are easier to interpret and tabulate. Researchers should use care in the wording and ordering of questions.
Mechanical instruments are used to monitor consumer behavior. For example, Time Warner’s MediaLab uses high-tech observation to capture the changing ways that today’s viewers are using and reacting to television and Web content. Some researchers are applying neuromarketing, which involves measuring brain activity to learn how consumers feel and respond. For example, PepsiCo’s Frito-Lay worked with Nielsen’s NeuroFocus to assess consumer motivations underlying the success of its Cheetos snack brand.
The researcher next puts the marketing research plan into action. This involves collecting, processing, and analyzing the information. Data collection can be carried out by the company’s marketing research staff or outside firms. Researchers should guard against problems of interacting with respondents, with the quality of participants’ responses, and with interviewers who make mistakes or take shortcuts.
Researchers must also process and analyze the collected data to isolate important information and insight. They need to check data for accuracy and completeness and code it for analysis. The researchers then tabulate the results and compute statistical measures.
The market researcher must interpret the findings, draw conclusions, and report them to management. The researcher should present important findings and insights that are useful in the major decisions faced by management.
The best research means little if the manager blindly accepts faulty interpretations from the researcher. In many cases, findings can be interpreted in different ways, and discussions between researchers and managers will help point to the best interpretations. Thus, managers and researchers must work together closely when interpreting research results, and both must share responsibility for the research process and resulting decisions.
Customer relationship management (CRM) is used to manage detailed information about individual customers and carefully manage customer touch points to maximize customer loyalty. It consists of sophisticated software and analytical tools from companies such as Salesforce.com, Oracle, Microsoft, and SAS that integrate customer information from all sources, analyze it in depth, and apply the results to build stronger customer relationships.
By using CRM to understand customers better, companies can provide higher levels of customer service and develop deeper customer relationships. It provides a 360-degree view of the customer relationship. Firms can use CRM to pinpoint high-value customers, target them more effectively, cross-sell the company’s products, and create offers tailored to specific customer requirements. Data warehouses and data mining techniques are used to find out more about customers.
The marketing information system must make the information readily available to managers and others who need it, when they need it. In some cases, this means providing managers with routine information such as performance reports, intelligence updates, and reports on the results of research studies. But, marketing managers also require non-routine information to make on-the-spot decisions. For example, a sales manager having trouble with a large customer may want a summary of the account’s sales and profitability over the past year.
Many firms use company intranet and internal CRM systems to facilitate the distribution and use of marketing information. Companies are also increasingly allowing key customers and value-network members to access account, product, and other data on demand through extranets.
Just like larger firms, small organizations need market information and the customer insights that it can provide. Many marketing research techniques can also be used by smaller organizations in a less formal manner and at little or no expense. Small businesses and not-for-profit organizations can obtain good marketing insights through observation or informal surveys using small convenience samples. They can collect a considerable amount of information at very little cost online. They can scour competitor and customer Web sites and use Internet search engines to research specific companies and issues. Although these informal research methods are less complex and less costly, they still must be conducted with care.
Managers must think carefully about the objectives of the research, formulate questions in advance, recognize the biases introduced by smaller samples and less skilled researchers, and conduct the research systematically.
International researchers follow the same steps as domestic researchers, from defining the research problem and developing a research plan to interpreting and reporting the results. However, they often face more and different problems.
In many foreign markets, the international researcher may have a difficult time finding good secondary data. Whereas U.S. marketing researchers can obtain reliable secondary data from dozens of domestic research services, many countries have almost no research services at all. Because of the scarcity of good secondary data, international researchers must collect their own primary data and reaching respondents is not easy in other parts of the world. Cultural differences from country to country cause additional problems for international researchers. Language is the most obvious obstacle. Consumers in different countries also vary in their attitudes toward marketing research. Customs in some countries may prohibit people from talking with strangers.
Although the costs and problems associated with international research may be high, the costs of not doing it might be even higher. Once recognized, many of the problems associated with international marketing research can be overcome or avoided.
Even though many customers feel positive about marketing research and believe that it serves a useful purpose, there are others who strongly resent or even mistrust marketing research.
Failure to address privacy issues could result in angry, less cooperative consumers and increased government intervention. As a result, the marketing research industry is considering several options for responding to intrusion and privacy issues. One example is the Marketing Research Association’s “Your Opinion Counts” and “Respondent Bill of Rights” initiatives to educate consumers about the benefits of marketing research and distinguish research from telephone selling and database building.
Most major companies have now appointed a chief privacy officer (CPO), whose job is to safeguard the privacy of consumers who do business with the company. If researchers provide value in exchange for information, customers will provide it. For example, Amazon.com customers do not mind if the firm builds a database of products they buy as a way to provide future product recommendations. The best approach is for researchers to ask only for the information they need, use it responsibly to provide customer value, and avoid sharing information without the customer’s permission
Research studies can be powerful persuasion tools. But in some cases, research surveys appear to have been designed just to produce the intended effect. Few advertisers openly rig their research designs or blatantly misrepresent the findings. Most abuses are subtle stretches so as to avoid disputes over the validity and use of research findings.
Recognizing that surveys can be abused, several associations—including the American Marketing Association, the Marketing Research Association, and the Council of American Survey Research Organizations (CASRO)—have developed codes of research ethics and standards of conduct. For example, the CASRO Code of Standards and Ethics for Survey Research outlines researcher responsibilities to respondents, including confidentiality, privacy, and avoidance of harassment. Each company must accept responsibility for policing the conduct and reporting of its own marketing research to protect consumers’ best interests and its own.