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Marketing Information Management Unit 5
Obtaining Information <ul><li>How are the different types of research used to gather data about consumers? </li></ul><ul><...
Marketing Research <ul><li>Is conducted to gather data and identify solutions to marketing problems.  </li></ul><ul><ul><l...
Engaging Customers <ul><li>Engaged Customers  </li></ul><ul><ul><li>Repeat customers who are completely loyal to the compa...
Market Researchers <ul><li>Acquire and manage marketing information.  </li></ul><ul><li>Media companies (television, motio...
Information Collected <ul><li>Provides clients with recommendations about: </li></ul><ul><ul><li>Promotion </li></ul></ul>...
Careers in Marketing Research <ul><li>Number of careers to increase by 18 to 26 percent through 2014. </li></ul><ul><li>Mo...
Client – Side Researchers <ul><li>Staff researchers who work with external research agencies, they are employees of the cl...
Quick Review <ul><li>Syndicated research is </li></ul><ul><ul><li>Conducted by client- side researchers </li></ul></ul><ul...
Quick review <ul><li>Most market researchers </li></ul><ul><ul><li>Like to explore new ideas and trends </li></ul></ul><ul...
The Marketing Research Process <ul><li>How is the marketing research process conducted? </li></ul><ul><li>How is marketing...
Market Research <ul><li>When information is gathered that is very specifically focused on a single target market. </li></u...
How It Takes Place <ul><li>Discover and define the problem.  </li></ul><ul><li>Analyze current conditions. </li></ul><ul><...
Discover and Define the Problem <ul><li>Three degrees of research to problem definition: </li></ul><ul><ul><li>Exploratory...
Discover and Define the Problem Con’t <ul><li>Descriptive Research </li></ul><ul><ul><li>Used when the business is aware o...
Analyze Current Conditions <ul><li>Using information such as sales volume and customer data to understand current conditio...
Develop the Process for Data Collection <ul><li>Determining which is the most effective way to gather information.  </li><...
Collect the Data <ul><li>Using methods to gather information about a needed decision.  </li></ul><ul><li>Sample: </li></ul...
Analyze and Report the Data <ul><li>Analyzers will look at the data provided and look for patterns within the data to draw...
Determine a Solution to the Problem <ul><li>Based on the information found or given, recommendations or changes will be ma...
Implement and Evaluate the Results <ul><li>When the company implements the changes and determines whether or not the chang...
Marketing <ul><li>Researchers must try to use the information they have gained in a useful way. </li></ul><ul><li>Research...
Quick Review <ul><li>Exploratory research is used  </li></ul><ul><ul><li>When the business is unaware of the exact researc...
Quick Review Con’t <ul><li>Ethical research involves  </li></ul><ul><ul><li>Gathering and reporting information the paying...
Managing Market Research Information <ul><li>How is information that has been gathered through marketing research used to ...
Digging up Data <ul><li>Data mining: </li></ul><ul><ul><li>The use of powerful computers to “dig up” data needed to make d...
Quick Review <ul><li>Data mining involves using a high – powered computer to: </li></ul><ul><ul><li>Compile a report. </li...
Quick Review Con’t <ul><li>Cookies placed on visitors’ computers provide data on: </li></ul><ul><ul><li>How often the comp...
Chapter Review <ul><li>When sales of product are declining and the business does not know why, it will conduct? </li></ul>...
Chapter Review Con’t <ul><li>The first step in marketing research involves: </li></ul><ul><ul><li>Defining the problem. </...
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Unit 5 Marketing Information Management

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Unit 5 Marketing Information Management

  1. 1. Marketing Information Management Unit 5
  2. 2. Obtaining Information <ul><li>How are the different types of research used to gather data about consumers? </li></ul><ul><li>Who is involved in gathering information about customers for the marketing firm? </li></ul><ul><li>How can businesses stay in touch with customers? </li></ul>
  3. 3. Marketing Research <ul><li>Is conducted to gather data and identify solutions to marketing problems. </li></ul><ul><ul><li>Syndicated Research </li></ul></ul><ul><ul><ul><li>Research conducted by an independent company and then offered for sale to everyone in an industry. </li></ul></ul></ul><ul><ul><ul><li>Research is collected and managed electronically. </li></ul></ul></ul><ul><ul><ul><li>Current data can be viewed instantly worldwide and used to make decisions. </li></ul></ul></ul>
  4. 4. Engaging Customers <ul><li>Engaged Customers </li></ul><ul><ul><li>Repeat customers who are completely loyal to the company’s products and services. </li></ul></ul><ul><ul><li>It is five times more expensive to attract business of new customers. </li></ul></ul><ul><li>Polls </li></ul><ul><ul><li>Surveys of people’s opinions. </li></ul></ul><ul><ul><li>Used to help companies move customers beyond just being satisfied with the product or service. </li></ul></ul>
  5. 5. Market Researchers <ul><li>Acquire and manage marketing information. </li></ul><ul><li>Media companies (television, motion pictures, radio, print and the Internet) hire researchers to collect data about their audiences and competition. </li></ul><ul><li>Track sales. </li></ul><ul><li>Track characteristics of those who buy products. </li></ul><ul><li>Where and how advertising money is spent. </li></ul>
  6. 6. Information Collected <ul><li>Provides clients with recommendations about: </li></ul><ul><ul><li>Promotion </li></ul></ul><ul><ul><li>Distribution </li></ul></ul><ul><ul><li>Design </li></ul></ul><ul><ul><li>Pricing </li></ul></ul>
  7. 7. Careers in Marketing Research <ul><li>Number of careers to increase by 18 to 26 percent through 2014. </li></ul><ul><li>Most positions are found in large cities and require advanced college degrees, such as a masters. </li></ul><ul><li>Researchers usually begin their careers as entry-level associates. </li></ul>
  8. 8. Client – Side Researchers <ul><li>Staff researchers who work with external research agencies, they are employees of the client. </li></ul>
  9. 9. Quick Review <ul><li>Syndicated research is </li></ul><ul><ul><li>Conducted by client- side researchers </li></ul></ul><ul><ul><li>Conducted by independent companies </li></ul></ul><ul><ul><li>Conducted for one specific client </li></ul></ul><ul><ul><li>None of the above </li></ul></ul>
  10. 10. Quick review <ul><li>Most market researchers </li></ul><ul><ul><li>Like to explore new ideas and trends </li></ul></ul><ul><ul><li>Need an advanced college degree </li></ul></ul><ul><ul><li>C. Gain experience by assisting in conducting surveys </li></ul></ul><ul><ul><li>D. All of the Above </li></ul></ul>
  11. 11. The Marketing Research Process <ul><li>How is the marketing research process conducted? </li></ul><ul><li>How is marketing research used to create and implement new marketing campaigns? </li></ul><ul><li>How do different influences affect the marketing research process? </li></ul>
  12. 12. Market Research <ul><li>When information is gathered that is very specifically focused on a single target market. </li></ul><ul><li>Broader Term </li></ul><ul><ul><li>Marketing Research </li></ul></ul>
  13. 13. How It Takes Place <ul><li>Discover and define the problem. </li></ul><ul><li>Analyze current conditions. </li></ul><ul><li>Develop the process for data collection. </li></ul><ul><li>Collect the data. </li></ul><ul><li>Analyze and report the data. </li></ul><ul><li>Determine a solution to the problem. </li></ul><ul><li>Implement and evaluate the results. </li></ul>
  14. 14. Discover and Define the Problem <ul><li>Three degrees of research to problem definition: </li></ul><ul><ul><li>Exploratory Research </li></ul></ul><ul><ul><ul><li>Conducted when a business is unaware of the exact problem. </li></ul></ul></ul><ul><ul><ul><li>Desk research is where reports of other completed research are used to help define the problem. </li></ul></ul></ul>
  15. 15. Discover and Define the Problem Con’t <ul><li>Descriptive Research </li></ul><ul><ul><li>Used when the business is aware of the problem that needs to be solved. </li></ul></ul><ul><li>Causal Research </li></ul><ul><ul><li>Used to determine cause and effect relationships when the problem is already clearly defined. </li></ul></ul>
  16. 16. Analyze Current Conditions <ul><li>Using information such as sales volume and customer data to understand current conditions within the market. </li></ul>
  17. 17. Develop the Process for Data Collection <ul><li>Determining which is the most effective way to gather information. </li></ul><ul><li>Determining if a survey, personal interview, or questionnaire is the most effective way of gathering information. </li></ul>
  18. 18. Collect the Data <ul><li>Using methods to gather information about a needed decision. </li></ul><ul><li>Sample: </li></ul><ul><ul><li>A small number of representatives of the larger group. </li></ul></ul>
  19. 19. Analyze and Report the Data <ul><li>Analyzers will look at the data provided and look for patterns within the data to draw conclusions. </li></ul><ul><li>Price Points </li></ul><ul><ul><li>The range of prices charged for merchandise. </li></ul></ul>
  20. 20. Determine a Solution to the Problem <ul><li>Based on the information found or given, recommendations or changes will be made to the current conditions. </li></ul>
  21. 21. Implement and Evaluate the Results <ul><li>When the company implements the changes and determines whether or not the changes were effective. </li></ul>
  22. 22. Marketing <ul><li>Researchers must try to use the information they have gained in a useful way. </li></ul><ul><li>Researchers must know all effects of marketing to reduce conflict. </li></ul><ul><li>Researchers need to be ethical in the decisions and actions they take. </li></ul>
  23. 23. Quick Review <ul><li>Exploratory research is used </li></ul><ul><ul><li>When the business is unaware of the exact research. </li></ul></ul><ul><ul><li>To determine cause and effect responsibilities. </li></ul></ul><ul><ul><li>When a business is aware of the problem that needs to be solved. </li></ul></ul><ul><ul><li>When desk research is unavailable. </li></ul></ul>
  24. 24. Quick Review Con’t <ul><li>Ethical research involves </li></ul><ul><ul><li>Gathering and reporting information the paying client wants to hear. </li></ul></ul><ul><ul><li>Gathering consumers’ private and personal information for other uses. </li></ul></ul><ul><ul><li>Reporting all information accurately and objectively. </li></ul></ul><ul><ul><li>All of the above. </li></ul></ul>
  25. 25. Managing Market Research Information <ul><li>How is information that has been gathered through marketing research used to create more effective marketing campaigns? </li></ul><ul><li>How is information about customers gathered and stored? </li></ul><ul><li>How do customer attitudes about data collection affect the data collection process? </li></ul>
  26. 26. Digging up Data <ul><li>Data mining: </li></ul><ul><ul><li>The use of powerful computers to “dig up” data needed to make decisions. </li></ul></ul><ul><li>Cookie: </li></ul><ul><ul><li>A small data file that is placed on the hard drive of a web site visitor that collects and reports data on the visitor. </li></ul></ul><ul><li>Click - Through rate: </li></ul><ul><ul><li>Determined by dividing the number of times an ad is clicked on by the number of times an ad is shown. </li></ul></ul>
  27. 27. Quick Review <ul><li>Data mining involves using a high – powered computer to: </li></ul><ul><ul><li>Compile a report. </li></ul></ul><ul><ul><li>Dig up data needed to make decisions. </li></ul></ul><ul><ul><li>Define a problem. </li></ul></ul><ul><ul><li>None of the above. </li></ul></ul>
  28. 28. Quick Review Con’t <ul><li>Cookies placed on visitors’ computers provide data on: </li></ul><ul><ul><li>How often the computer is used to visit the site. </li></ul></ul><ul><ul><li>The visitor’s area of interest within the site. </li></ul></ul><ul><ul><li>PIN numbers for the visitor’s bank accounts. </li></ul></ul><ul><ul><li>Both A and B. </li></ul></ul>
  29. 29. Chapter Review <ul><li>When sales of product are declining and the business does not know why, it will conduct? </li></ul><ul><ul><li>Syndicated research. </li></ul></ul><ul><ul><li>Exploratory research. </li></ul></ul><ul><ul><li>Descriptive research. </li></ul></ul><ul><ul><li>Causal research. </li></ul></ul>
  30. 30. Chapter Review Con’t <ul><li>The first step in marketing research involves: </li></ul><ul><ul><li>Defining the problem. </li></ul></ul><ul><ul><li>Analyzing current conditions. </li></ul></ul><ul><ul><li>Collecting data. </li></ul></ul><ul><ul><li>None of the above. </li></ul></ul>

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