Managing Marketing Information Chapter 3
Objectives Understand the importance of information to the company. Know the definition of a marketing information system and be able to discuss its subparts. Learn the steps in the marketing research process. 5 - 1
Marketing Info. System Marketing Information System (MIS) § Consists of people, equipment, and procedures that gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers. 5 - 2
Figure 5 -1: The Marketing Information System 5 - 3
Marketing Info. System Assessing Marketing Information Needs § The MIS serves company managers as well as external partners. 5 - 4
Marketing Info. System Assessing Marketing Information Needs § The MIS must balance needs against feasibility: Not all information can be obtained. v Obtaining, processing, sorting, and delivering information is costly. v 5 - 5
Marketing Info. System Developing Information Internal data Marketing intelligence Marketing research Internal Data is gathered via customer databases, financial records, and operations reports. Advantages of internal data include quick/easy access to information. Disadvantages stem from incompleteness or inappropriateness of data to a particular situation. 5 - 6
Marketing Info. System Developing Information Internal data Marketing intelligence Marketing research Marketing intelligence is the systematic collection and analysis of publicly available information about competitors and trends in the marketing environment. Competitive intelligence gathering activities have grown. Many sources of competitive info. exist. 5 - 7
Marketing Info. System Developing Information Internal data Marketing intelligence Marketing research is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization. Several steps are involved in the marketing research process. 5 - 8
Figure 5 -2: The Marketing Research Process 5 - 9
Marketing Info. System Step 1: Defining the problem and research objectives § Don’t confuse the symptoms of the problem with its cause when defining the problem. § Exploratory, descriptive, and causal research each fulfill different objectives. 5 - 10
Marketing Info. System Step 2: Developing the Research Plan § Research objectives guide the determination of specific information needs. § Research proposals outline the type of data needed and the research plan. 5 - 11
Marketing Info. System § Secondary data: Information collected for another purpose which already exists. v Primary data: Information collected for the specific purpose at hand 5 - 12
Marketing Info. System Evaluate the Following When Judging Data Quality Relevance Accuracy Currency Impartiality 5 - 13
Marketing Info. System Types of Data Secondary data Primary data Planning primary research: § Research approaches: v Observation v Survey v Experiment § Contact methods § Sampling plan § Research instruments 5 - 14
Marketing Info. System Types of Data Secondary data Primary data Planning primary research: § Research Approaches § Contact methods: v Mail v Telephone v Online v Personal § Sampling plan § Research instruments 5 - 15
Marketing Info. System Key Contact Methods Include: § Mail surveys § Telephone surveys § Personal interviewing: v Individual or focus group § Online (Internet) research 5 - 16
Marketing Info. System Sample: subgroup of population from whom information will be collected Sampling Plan Decisions: § Sampling unit § Sample size § Sampling procedure: Probability samples v Non-probability samples v 5 - 17
Marketing Info. System Research Instruments: § Questionnaires v Include different types of questions • Open-ended question: What are the most important benefits you seek when buying a car? • Closed-ended question: What is your gender? ____ Male ____ Female v Phrasing and question order are key 5 - 18
The manner in which questions are phrased can influence the validity of the data collected. Critique the following questions: 1. What is your age? ___ 18 – 25 ___ 25 – 45 2. What is your income? ___ 46 – 65 $ _____ 3. How important is fast and friendly service to you when selecting a fast food establishment? ___ Very important ___ Important ___ Somewhat important ___ Not important at all 5 - 19
Marketing Info. System Research Instruments: § Mechanical instruments Traffic counters v Retailer store checkout scanners v Video-taped store traffic v People meters v Website logs, cookies, software v Physiological measurement equipment v 5 - 20
Mechanical measures of physiological processes include eye movement, pulse rate, eye dilation, and as shown below, changes in facial expressions. Marketers can adjust offers accordingly. 5 - 21
Marketing Info. System Step 3 of the Research Process: Implementing the Research Plan § Involves collecting, processing, and analyzing information. 5 - 22
Marketing Info. System Step 4 of the Research Process: Interpreting and Reporting the Findings 5 - 23
Marketing Info. System Analyzing Marketing Information § Customer relationship management (CRM) helps manage information. § CRM offers many benefits and can help a firm gain a competitive advantage. § Technology alone can not build profitable customer relationships. 5 - 24
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