towards machine learning on the semantic web - larkc

Marketing Management

Chapter 6

Marketing Information System and Marketing Research

Ch-06 Marketing Information System and Marketing Research


Learning ObjectivesKnow about marketing information systemsDefine marketing research & importanceSteps in marketing researchDefine and solve marketing problemsKnow about secondary and primary dataUnderstand the role of observing, questioning and using experimental methodsConcept and purpose of a marketing decisionSupport system and competitive intelligence



Marketing Information

Lifeblood of marketing decision-makingMarketing information is everyday information about developments in the marketing environment that managers used to prepare and adjust marketing plansThe system for gathering marketing intelligence is called a marketing decision support system(DSS)



Information need of marketing manager

Customers and their response to marketing mixTargeting and segmentationCompetitorsMarketing environmentCost analysis



Marketing Information System (MIS)

Help in making information available and accessibleAllows manager to get more informationMarketing manager is responsible for developing MISMIS use is growing rapidlyNew questions require new answers



Elements of MIS



Marketing Decision Support Systems

The system for gathering marketing intelligence is called a marketing decision support system (DSS)DSS is an interactive, flexible information system that enables managers to obtain and manipulate information as they are making decisions



Advantages of Using competitive intelligence

Allow managers to predict changesHelps identifying market opportunitiesHelps guards against threatsForecasts a competitors strategyDiscover new or potential competitors



Role of Marketing Research

Marketing Research is the planning , collection, and analysis of data relevant to marketing decision making. It plays key role in marketing systemProvides insights for changesIs the primary data source for and DSS



Types of Marketing Research

DescriptiveGathering and presenting statements of fact

DiagnosticExplaining data

PredictiveAttempting to estimate the results of a planned marketing decision



Use of Marketing Research

Improves the quality of marketing decision makingUsed to discover what went wrong the marketing planTo retain customers by having an intimate understanding of their needsHelps managers to understand marketplace and take advantages



Effective Research

Requires cooperation Collaboration is absolutely necessary



Steps in Marketing Research

1. Defining the problem2. Analyzing the situation3. Getting problem-specific data4. Interpreting the data5. Solving the problem



Step 1 Defining the problem

The managers and the researcher determine the key decision issue s requiring information

Finding the right problem levelProblem vs. symptomsSetting research objectives



Step 2 Analyzing the situation

An informal study of information that is already available in the problem area

What information do we already have?Pick the brands of people around youSituation analysis helps educate a researcher



Step 3 Getting problem specific data

The collection of data that is customized to the decision maker’s unique needs

ObservationMonitor behavior

QuestioningAsk people



Types of DataPrimary Data

Are the peaces of information collected for the first time and used for solving the particular problem under investigation

ToolsSurveysInterviewFocus group Questioning Observation



SurveyThe most popular methodIn which researcher interacts with people to obtain facts, opinions, and attitudes



Interviewing

In-home interviewMall interceptComputer assisted personal interviewingTelephone interviewMail surveyExecutive interviewing



Focus Groups

A focus group interview involves interviewing 6 to 10 people with desired characteristics who participate in a group discussion about a subject of interest to a marketing organization in an informal group settingFocus groups involve so few people as participants that they may not be representative of the entire target market



QuestioningOpen-ended questions

Are those worded to encourage unlimited answers phrased in the respondent's own words

Close-ended questionsAre those in which the respondent is provided with a list of responses and is requested to make a selection from that list

A scaled-response questionIs a close-ended question designed to measure the intensify the intensity of a respondent’s answer



Observation

People watching peoplePeople watching physical phenomenaMachines watching peopleObservation method are common in advertising



Experiment

In an experiment , the researcher changes one or more variety as price or package design, while measuring the effects of those changes on another variable while measuring the effects on another variableExperiments are the only way to determine causality



Sampling

When specifying the sampling procedures, the sample or subset of the larger population to be drawn for interviewing must be determinedFirst universe must be definedNext, researcher must determine if the sample for this study should be representative of the population as a whole



Probability SampleWith a probability sample, every element in the population has a known nonzero probability of being selectedRandom sample

Is set up so that every element of the population has an equal chance of being selected as part of the sampleOften a random sample is selected by using random numbers from a table found in statistics books



Non probability Sample

Convenience SampleUses respondents who are readily accessible to the researcher

Non probability samples are frequently used in market research, because they cost less probability samples



Measurement ErrorOccurs when the information desired by the researcher differs from the information provided by the measurement process

Sampling ErrorOccurs when a sample is not representative of the target population in certain respects



Frame ErrorArises if the sample drawn from a population differs from the target population

Random ErrorOccurs when the selected sample does not represent the overall population



Data Collection

Field service firms specialize in interviewing respondent on a subcontract basisField service firms also conduct focus groups , mall intercepts, retail audits, and other data collection services



Three Types of Data Analysis

One way frequency countCross tabulationStatistical analysis



Prepare and Present the report

Solving the problemActionable resultsLack of impactManagers need to know about researchQuality of suppliers is variableTime, money



Follow Up

When decision-making information already existsWhen the costs of conducting research are greater than the benefitsLearn from the success or failure of others



Summary

MIS is Lifeblood of marketing decision-makingFollowing are important steps in marketing research

1. Defining the problem2. Analyzing the situation3. Getting problem-specific data4. Interpreting the data5. Solving the problem


towards machine learning on the semantic web - larkc

Documents