chapter 4-managing-marketing-information-to-gain-customer-insights
TRANSCRIPT
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Chapter 4- slide 1Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
I t ’s good and good for you
Chapter Four
Managing Marketing Information to Gain Customer Insights
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Chapter 4- slide 2Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Learning Objectives
• Marketing Information and Customer Insights• Assessing Marketing Information Needs• Developing Marketing Information• Marketing Research• Analyzing and Using Marketing Information• Other Marketing Information Considerations
Topic Outline
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Chapter 4- slide 3Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Marketing Information and Customer Insights
• Fresh and deep insights into customers needs and wants
• Difficult to obtain– Not obvious– Customer’s unsure of their behavior
• Better information and more effective use of existing information
Customer Insights are:
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Chapter 4- slide 4Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Marketing Information and Customer Insights
• Companies are forming customer insights teams– Include all company functional
areas– Collect information from a
wide variety of sources– Use insights to create more
value for their customers
Customer Insights
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Chapter 4- slide 5Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Marketing Information and Customer Insights
Marketing information system (MIS) consists of people and procedures for:
– Assessing the information needs– Developing needed information– Helping decision makers use the information
for customer
Marketing Information Systems (MIS)
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Chapter 4- slide 6Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Marketing Information System
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Chapter 4- slide 7Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Assessing Marketing Information Needs
MIS provides information to the company’s marketing and other managers and external partners such as suppliers, resellers, and marketing service agencies
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Chapter 4- slide 8Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Assessing Marketing Information Needs
• Balancing what the information users would like to have against what they need and what is feasible to offer
Characteristics of a Good MIS
User’s Needs
MIS Offerings
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Chapter 4- slide 9Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Developing Marketing Information
Internal data
Marketing intelligence
Marketing research
Marketers obtain information from
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Chapter 4- slide 10Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Developing Marketing Information
Internal databases are electronic collections of consumer and market information obtained from data sources within the company network
Internal Data
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Chapter 4- slide 11Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Developing Marketing Information
The systematic collection and analysis of publicly available information about consumers, competitors
and developments in the marketplace
Competitive Marketing Intelligence
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Chapter 4- slide 12Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Developing Marketing Information
Marketing Research
• Marketing research is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization
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Chapter 4- slide 13Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Developing Marketing InformationSteps in the Marketing Research Process
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Chapter 4- slide 14Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Developing Marketing InformationMarketing Research
Defining the Problem and Research Objectives
Exploratory research
Descriptive research
Causal research
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Chapter 4- slide 15Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Developing Marketing Information
• Outlines sources of existing data
• Spells out the specific research approaches, contact methods, sampling plans, and instruments to gather data
Marketing ResearchDeveloping the Research Plan
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Chapter 4- slide 16Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Developing Marketing Information
Management problem
Research objectives
Information needed
How the results will help management decisions
Budget
Marketing ResearchWritten Research Plan Includes:
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Chapter 4- slide 17Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Developing Marketing Information
Secondary data consists of information that already exists somewhere, having been collected for another purpose
Marketing ResearchDeveloping the Research Plan
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Chapter 4- slide 18Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Developing Marketing InformationSecondary Data
Advantages
Cost
Speed
Could not get data otherwise
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Chapter 4- slide 19Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Developing Marketing Information
Primary data consists of information gathered for the special research plan
Marketing ResearchDeveloping the Research Plan
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Chapter 4- slide 20Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Developing Marketing Information
Planning Primary Data Collection
Research approaches
Contact methods
Sampling plan
Research instruments
Marketing Research
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Chapter 4- slide 21Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Developing Marketing Information
Observational research involves gathering primary data by observing relevant people, actions, and situations
Ethnographic research involves sending trained observers to watch and interact with consumers in their natural environment
Market ResearchResearch Approaches
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Chapter 4- slide 22Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Developing Marketing Information
Survey research is the most widely used method and is best for descriptive information—knowledge, attitudes, preferences, and buying behavior
• Flexible• People can be unable or unwilling to answer• Gives misleading or pleasing answers• Privacy concerns
Market ResearchResearch Approaches
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Chapter 4- slide 23Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Developing Marketing Information
Experimental research is best for gathering causal information—cause-and-effect relationships
Market ResearchResearch Approaches
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Chapter 4- slide 24Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Developing Marketing InformationStrengths and Weakness of Contact Methods
Mail Telephone Personal OnlineFlexibility Poor Good Excellent Good
Quantity of data collected
Good Fair Excellent Good
Control of interviewer effects
Excellent Fair Poor Fair
Control of sample
Fair Excellent Good Excellent
Speed of data collection
Poor Excellent Good Excellent
Response rate Poor Poor Good Good
Cost Good Fair Poor Excellent
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Chapter 4- slide 25Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Developing Marketing Information
• Focus Groups– Six to 10 people– Trained moderator– Challenges
• Expensive• Difficult to generalize from small group• Consumers not always open and honest
Marketing ResearchContact Methods
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Chapter 4- slide 26Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Developing Marketing Information
Online marketing research
Internet surveys
Online panels
Online experiments
Marketing Research Contact Methods
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Chapter 4- slide 27Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Developing Marketing Information
Advantages•Low cost•Speed•Higher response rates•Good for hard to reach groups
Marketing Research Online Research
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Chapter 4- slide 28Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Developing Marketing Information
Sample is a segment of the population selected for marketing research to represent the population as a whole– Who is to be studied?– How many people should be studied?– How should the people be chosen?
Marketing ResearchSampling Plan
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Chapter 4- slide 29Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Developing Marketing Information
Probability Sample
Simple random sample Every member of the population has a known and equal chance of selection
Stratified random sample
The population is divided into mutually exclusive groups and random samples are drawn from each group
Cluster (area) sample The population is divided into mutually exclusive groups and the researcher draws a sample
Nonprobability Sample
Convenience sample The research selects the easiest population members
Judgment sample The researcher uses their judgment to select population members
Quota sample The researcher finds and interviews a prescribed number of people in each of several categories
Marketing Research Sampling Plan – Types of Samples
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Chapter 4- slide 30Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Developing Marketing InformationMarketing Research
Research Instruments
Questionnaires
• Most common• Administered in person, by phone, or online• Flexible• Research must be careful with wording and ordering of questions
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Chapter 4- slide 31Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Developing Marketing Information
• Closed-end questions include all possible answers, and subjects make choices among them– Provide answers that are easier to interpret
and tabulate• Open-end questions allow respondents to
answer in their own words– Useful in exploratory research
Marketing ResearchResearch Instruments—Questionnaires
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Chapter 4- slide 32Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Developing Marketing Information
Mechanical
devices
People meters
Checkout scannersNeuro-
marketing
Marketing ResearchResearch Instruments
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Chapter 4- slide 33Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Developing Marketing Information
Collecting the informationProcessing the informationAnalyzing the informationInterpret findingsDraw conclusionsReport to management
Marketing ResearchImplementing the Research Plan
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Chapter 4- slide 34Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Analyzing and Using Marketing Information
Managing detailed information aboutindividual customers and carefullymanaging customer touch points tomaximize customer loyalty.
Customer Relationship Management (CRM)
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Chapter 4- slide 35Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Analyzing and Using Marketing Information
Customer purchases
Sales force contacts
Service and support calls
Web site visits
Customer Relationship ManagementTouchpoints
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Chapter 4- slide 36Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Distributing and Using Marketing Information
Information distribution involves entering information into databases and making it available in a time-useable manner
• Intranet provides information to employees and other stakeholders
• Extranet provides information to key customers and suppliers
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Chapter 4- slide 37Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
Other Marketing Information Considerations
Marketing Research in Small Businesses and Nonprofit Organizations• Customer privacy• Misuse of research findings
International Market Research
Public Policy and Ethics
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Chapter 4- slide 38Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic,
mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Printed in the United States of America.
Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall