essentials of marketing chapter 7 improving decisions with marketing information mcgraw-hill/irwin...

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Chapter 7Improving Decisions with Marketing Information

McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved.

At the end of this presentation, you should be able to:

1. Know about marketing information systems.

2. Understand the scientific approach to marketing research.

3. Know about methods for collecting secondary and primary data.

4. Understand the role of observing, questioning, and using experimental methods in marketing research.

5. Understand important new terms.

7–2

Effective Marketing Requires Good Information

7–3

Marketing Information Inputs to Marketing Strategy Planning Decisions (Exhibit 7-1)

Informationfor marketing

decisions

Marketing information systems•Accessing multimedia data•Data warehouse•Decision support systems•Marketing models

Marketing information systems•Accessing multimedia data•Data warehouse•Decision support systems•Marketing models

Marketing Research• Role of research specialist• Scientific method• Steps in marketing research

1. Define problem2. Analyze situation3. Gather problem-specific data4. Interpret the data5. Solve the problem

Marketing Research• Role of research specialist• Scientific method• Steps in marketing research

1. Define problem2. Analyze situation3. Gather problem-specific data4. Interpret the data5. Solve the problem

7–4

Who Does the Work?

7–5

Effective Research Requires Cooperation

That marketing research geek doesn’t understand

my business—she doesn’t even know my competitors!

That overpaid Gen Y is clueless—she doesn’t even know how a chi-square is

computed!

7–6

Changes Are Under Way in Marketing Information Systems

An Intranet Is Easy to UpdateAn Intranet Is

Easy to Update

Get More Information—

Faster and Easier

Get More Information—

Faster and Easier

MIS Makes Information Available and

Accessible

MIS Makes Information Available and

Accessible

7–7

Elements of a Complete Marketing Information System (Exhibit 7-2)

7–8

The Impact of an MIS

Information for implementation, planning

and control

Information for implementation, planning

and control

Many Firms Are Not There Yet

Many Firms Are Not There Yet

7–9

Research is a Bridge to Customers

7–10

Five-Step Scientific Approach to Marketing Research Process (Exhibit 7-3)

Analyzing the situationAnalyzing the situation

Getting problem-specific data

Getting problem-specific data

Interpreting the dataInterpreting the data

Solving the problemSolving the problem

Early identification of solution

Early identification of solution

Fe

edb

ack

to p

revi

ou

s st

ep

s

Defining the problemDefining the problem

7–11

Defining the Problem—Step 1

Problems vs. SymptomsProblems vs. Symptoms

Finding the Right Problem Level

Finding the Right Problem Level

Setting Research Objectives

Setting Research Objectives

7–12

Analyzing the Situation—Step 2

What Information Do We Already Have?

What Information Do We Already Have?

Situation Analysis Helps Educate a Researcher

Situation Analysis Helps Educate a Researcher

7–13

Checking Your Knowledge

Edna Bates, a marketing researcher who is an expert in customer satisfaction research, is asked by a client to conduct a study dealing with a completely unfamiliar research topic. Edna consults secondary data to gain more insight about this unfamiliar area. Edna is engaged in the _________ stage of the marketing research process.

A. problem definitionB. situation analysisC. gathering problem-specific dataD. data interpretationE. solving the problem

7–14

Sources of Secondary and Primary Data(Exhibit 7-4)

Secondary data

sources

Secondary data

sources

Primary data

sources

Primary data

sources

All data sourcesAll data sources

7–15

Private Sources Are Useful Too

7–16

The Bottom Line on Secondary Data

Situation Analysis—A

Lot For a Little

Situation Analysis—A

Lot For a Little

What Else Is Needed?

What Else Is Needed?

Research Proposal

Research Proposal

KeyIssues

KeyIssues

7–17

QuestioningQuestioningObservingObserving

Getting Problem-Specific Data—Step 3

PrimaryData

PrimaryData

7–18

Focus Groups Stimulate Discussion

7–19

Structured Questioning Gives More Objective Results

Can be summarized in

numbers

Can be summarized in

numbersSeeks structured

responsesSeeks structured

responses

Faster response & analysis

Faster response & analysis

QuantitativeResearch

QuantitativeResearch

7–20

Surveys Come in Many Forms

Personal Interview

Personal Interview

Mail and OnlineMail and Online

TelephoneTelephonePrimaryMethods

forCollecting

SurveyData

7–21

Checking Your Knowledge

A researcher wants to study 1,000 consumers and needs information about a lot of personal and sensitive issues. Which of the following would be the best way to gather this information?

A. Mail surveyB. Focus groupC. Telephone surveyD. Face-to-face interviewE. Experiment

7–22

Observing—What You See Is What You Get

Checkout Scanners “See” A Lot

Checkout Scanners “See” A Lot

Observation Is Common in Advertising Research

Observation Is Common in Advertising Research

Web site AnalysisWeb site Analysis

Consumer PanelsConsumer Panels

7–23

Illustration of Experimental Method in Comparing Effectiveness of Two Ads (Exhibit 7-5)

Half of the people

see Ad #1

Half of the people

see Ad #1

Half of the people

see Ad #2

Half of the people

see Ad #2

Average for group who saw Ad #1 = 3.2

Average for group who saw Ad #2 = 4.6

Representative group of

customers

Representative group of

customers

Difference in response between two groups

1 2 3 4 5Average product interest rating by

group

Groups of people are similar except for the

ad they see

7–24

Interactive Exercise: Types of Data

7–25

Interpreting the Data—Step 4 (Exhibit 7-6)

What is your household income?

Less than

$30,000$30,000 to

50,000

$50,000 to

$75,000

More than

$75,000Total

Sample

Does your home have broadband Internet service?

Yes 23.7% 46.2% 52.3% 72.4% 47.1%

No 76.3 53.8 47.7 27.6 52.9

Total 100.0% 100.0% 100.0% 100.0% 100.0%

7–26

PopulationPopulation

Key Concerns in Data Interpretation

KeyIssuesKey

Issues

ValidityValidity Confidence Intervals

Confidence Intervals

SampleSample

7–27

Ethical Issues in Marketing

7–28

Checking Your Knowledge

A sales training firm wants feedback on the quality of its classes and training services. The firm planned to send mail surveys to CEOs of its client companies to get the needed information. However, one executive objected to the survey plan, saying, “CEOs don’t attend our classes. How will they know if the classes are any good?” Another executive added, “If the survey isn’t relevant to the CEOs, it will be thrown away and we’ll get no data.” It appears that the research design presents problems with:

A. response rate.B. relevance of population.C. validity.D. improper statistical analysis.E. both A and B.

7–29

Interactive Exercise: Confidence Interval

7–30

Solving the Problem—Step 5

Evaluate Evaluate

Application in Marketing Strategy Planning

Application in Marketing Strategy Planning

No Action Implications—Little value

No Action Implications—Little value

Interesting tidbitsInteresting tidbits

7–31

Checking Your Knowledge

A marketing research firm conducted a telephone survey for a consumer products company. It provided new and interesting information about brand image, the competition, and other topics. At the end of the research company’s results presentation, the sales manager commented, “This is all interesting information, but it doesn’t tell me why our market share is declining among 18 to 34 year old women, nor does it offer me any suggestions about actions I can take to deal with the situation.” The sales manager’s complaint suggests that the research suffers from problems with:

A.a lack of action implications for management.B.poor planning by the researcher and managers at the outset of the project.C.poor sampling.D.a low response rate.E.both A and B.

7–32

International Marketing Research

Research Contributes to

Success

Research Contributes to

Success

Accurate Data—Hard To

Find?

Accurate Data—Hard To

Find?

Coordinate and Standardize

Coordinate and Standardize

Avoid Mistakes With Local Researcher

Avoid Mistakes With Local Researcher

7–33

Marketing Research Identifies International Opportunities

7–34

You should now be able to:

1. Know about marketing information systems.

2. Understand the scientific approach to marketing research.

3. Know about methods for collecting secondary and primary data.

4. Understand the role of observing, questioning, and using experimental methods in marketing research.

5. Understand important new terms.

7–35

Key Terms

Marketing research Marketing information

system (MIS) Intranet Data warehouse Decision support

system (DSS) Marketing dashboard Marketing model Scientific method

Hypotheses Marketing research

process Situation analysis Secondary data Primary data Research proposal Qualitative research Focus group interview Quantitative research

7–36

Key Terms

Response rate Consumer panel Experimental method Statistical packages Population Sample Confidence interval Validity

7–37

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