turning marketing information into action chapter 8
TRANSCRIPT
TURNING MARKETING INFORMATION INTO
ACTION
TURNING MARKETING INFORMATION INTO
ACTION
CHAPTER 8
Five-step marketing research approach leading Five-step marketing research approach leading to marketing actionsto marketing actions
• Set the Research Objectives
• Identify Possible Marketing Actions Measures of success
STEP 1: DEFINE THE PROBLEM
• Specify Constraints
• Identify Data needed for Marketing Actions
• Determine How to Collect Data• Concepts
• Methods Probability sampling Nonprobability sampling Statistical inference
STEP 2: DEVELOP THE RESEARCH PLAN
Types of Marketing InformationTypes of Marketing Information
STEP 3: COLLECT RELEVANT INFORMATION
• Secondary Data• Internal Secondary Data• External Secondary Data
• Primary Data• Observational Data• Questionnaire Data• Panels and Experiments
• Advantages and Disadvantages
STEP 3: COLLECT RELEVANT INFORMATION
Example: Nielsen//NetRatings of the top 10 Internet WebsitesExample: Nielsen//NetRatings of the top 10 Internet Websites
• Using Information Technology to Trigger Marketing Actions• The Marketing Manager’s View of Sales “Drivers”
• Key Elements of an Information System
• The Challenge in Mining Marketing Data
• Data Mining: Approach to Searching the Data Ocean
STEP 3: COLLECT RELEVANT INFORMATION
• Analyze the Data
• Present the Findings
STEP 4: DEVELOP FINDINGS
Converting data into marketing actions: What to Converting data into marketing actions: What to do about supermarket chains . . .do about supermarket chains . . .
• Identify the Action Recommendations
• Implement the Action Recommendations
• Evaluate the Results
STEP 5: TAKE MARKETING ACTIONS
• Basic Forecasting Terms• Market or Industry Potential
• Sales or Company Forecast
• Two Basic Approaches to Forecasting• Top-Down Forecast
• Buildup Forecast
MARKET AND SALES FORECASTING
Buildup approach to a two-quarter sales forecast Buildup approach to a two-quarter sales forecast for Apple Computer productsfor Apple Computer products
• Specific Sales Forecasting Techniques• Judgments of the Decision Maker
Direct forecast Lost-horse forecast
• Surveys of Knowledgeable Groups Survey of buyers’ intentions forecast Salesforce survey forecast Jury of executive opinion forecast Survey of experts forecast
• Statistical Methods Trend extrapolatioN
MARKET AND SALES FORECASTING
Linear trend extrapolation of sales revenues of Linear trend extrapolation of sales revenues of Xerox . . . 1999Xerox . . . 1999