Marketing Big Data Slideshow
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This document discusses how market research has evolved in the era of big data. It outlines how computers and technology have enabled more data-driven decision making through improved data collection and analysis. Most companies now outsource their market research to specialized marketing firms. Market research involves analyzing collected information to align with business strategy and improve operations through metrics that measure organizational performance. Data mining software is used to find patterns in data and relationships not seen otherwise to help answer previously unconsidered questions.
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Market research involves collecting, organizing, analyzing, and communicating information to make informed marketing decisions. It helps complement marketing strategies by enabling businesses to select target markets and make decisions about branding, products, and services. There are two types of market research - primary research involves direct data collection through surveys and interviews, while secondary research uses existing data from reports and articles. The key steps in market research are to define the problem, collect data through qualitative and quantitative methods, analyze and interpret the data, reach a conclusion, and implement the research findings.
Marketing research
Marketing research is defined as connecting producers and consumers through information to help marketing management. It assists in identifying issues with current strategies and defining market opportunities. The process involves formulating problems, collecting data through communication or observation, interpreting and analyzing the data, creating a research report of the results and conclusions, and implementing the findings. The overall goal is to help businesses improve their marketing strategies and decisions.
Chapter01.ppt
This document provides an overview of marketing research. It includes definitions of key terms like marketing, marketing research, and the marketing concept. It also outlines the marketing research process and discusses the role of marketing research in decision making. Additionally, it describes the marketing research industry and common types of marketing research companies. Finally, it discusses careers in marketing research and ethics in marketing research.
Marketing research ppt
Marketing research involves collecting, organizing, analyzing, and communicating information to make informed marketing decisions. It helps complement marketing strategies by enabling educated decisions on target markets, branding, and products/services. Key steps include defining problems, collecting primary and secondary data, analyzing and interpreting data, reaching conclusions, and implementing findings. Online research assists with various phases using computer networks and the Internet. Market research agencies in India provide specialized services across industries.
Market research
This presentation summarizes market research for a new business venture. It defines market research as gathering, analyzing, and interpreting information about markets, products, services, customers, and competitors. The presentation outlines the importance of market research for identifying problems and opportunities, developing strategies, understanding customer needs, and improving sales and decision-making. It then describes the key steps in market research as identifying objectives, collecting secondary and primary data, analyzing results, and implementing findings. Finally, it distinguishes between primary research methods like surveys and interviews and secondary research of published data.
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The managers achieve organizational objectives by getting work from
others and not performing in the tasks themselves.
Management is an art and science of getting work done through people.
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of the people to achieve the objectives of an organization Management is a universal process in all organized, social and economic activities. Wherever
there is human activity there is management.
Management is a vital aspect of the economic life of man, which is an organized group activity. A
central directing and controlling agency is indispensable for a business concern. The productive
resources –material, labour, capital etc. are entrusted to the organizing skill, administrative ability
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business enterprise. Without able managers and effective managerial leadership the resources of
production remain merely resources and never become production. Management occupies such an
important place in the modern world that the welfare of the people and the destiny of the country
are very much influenced by it.
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manner for realizing the specific objectives through productive use of material resources.
Mobilising the physical, human and financial resources and planning their utilization for business
operations in such a manner as to reach the defined goals can be benefited to as management.
1.3 DEFINITION OF MANAGEMENT
Management may be defined in many different ways. Many eminent authors on the subject have
defined the term "management". Some of these definitions are reproduced below:
In the words of George R Terry - "Management is a distinct process consisting of planning,
organising, actuating and controlling performed to determine and accomplish the objectives by the
use of people and resources".
According to James L Lundy - "Management is principally the task of planning, co¬ordinating,
motivating and controlling the efforts of others towards a specific objective",
In the words of Henry Fayol - "To manage is to forecast and to plan, to organise, to command, to
co-ordinate and to control".
According to Peter F Drucker - "Management is a multipurpose organ that manages a business and
manages managers and manages worker and work".
In the words of J.N. Schulze - "Management is the force which leads, guides and directs an
organisation in the accomplishment of a pre-determined object".
In the words of Koontz and O'Donnel - "Management is defined as the creation and maintenance
of an internal environment in an enterprise where individuals working together in groups can
perform efficiently and effectively towards the attainment of group goals".
According to Ordway Tead - "Management is the process and agency which directs and guides the
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- 2. The Market Research Function • How Marketing Research Has Evolved • Computers have drastically changed how research is conducted in companies today. • Technology has enabled data collection and analysis. • Data collection has provided data driven decision making.
- 3. The Market Research Function • Who Conducts Marketing Research • Outsourcing of market research has become more common. • Most companies hire marketing firms to research for them. • Independent marketing companies often specialize in part of marketing research projects rather than the entire study.
- 4. The Market Research Function • Marketing Intelligence • Analyzing information to align to business strategy. • Improve daily operations and tactical decision making. • Metrics are utilized for organizational objectives and accountability. • Metrics are used to measure organizational performance.
- 5. The Market Research Function • Data Mining and Predictive Analytics • Special software to search through data to find patterns. • Data mining is also used to find relationships that marketers do not see. • Utilizing data to answer out of the ordinary questions that the organization may not have thought of.
- 6. The Market Research Process • Conduct Exploratory Research • Conduct discovery sessions with informed sources to address a problem. • Provides well rounded results when monitored appropriately. • This is used to measure how well the organization performs on social media such as Twitter, Facebook, Instagram, and others.
- 7. The Market Research Process • Interpret and Present Research Data • Lastly to document research results and present findings. • Provides data for effective decision making. • Volume of data may present significant issues during analysis.
- 8. Data Collection in the Marketing Process • Secondary Data Collection • The U.S. Government is the leading source of marketing data. • The U.S. Government census includes housing, population, manufacturing, and more. • Online search engines may reduce complexity in identifying secondary data sources.
- 9. Primary Research Methods • Observation Method • This method is used to gain more information about a market area. • Observes the actions of the area they are researching. • For example, counting cars at a potential business site, or documenting license plates at a retail location.
- 10. Primary Research Methods • Survey Methods • Telephone interviews are utilized by organizations to obtain small amounts of data quickly. • Precise questions provide the best results. • Focus groups are effective when discussing a specific topic. • These groups usually discuss a given topic.