Chapter 4- slide 1 Copyright © 2012 Pearson Education. Chapter Four Managing Marketing Information...
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Chapter 4- slide 1 Copyright © 2012 Pearson Education. Chapter Four Managing Marketing Information to Gain Customer Insights
Transcript of Chapter 4- slide 1 Copyright © 2012 Pearson Education. Chapter Four Managing Marketing Information...
Chapter 4- slide 1Copyright © 2012 Pearson Education.
Chapter Four
Managing Marketing Information to Gain Customer Insights
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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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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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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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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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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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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
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Developing Marketing Information
Marketers obtain information from
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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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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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Developing Marketing Information
• Marketing research is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization
Marketing Research
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Developing Marketing InformationMarketing Research
Defining the Problem and Research Objectives
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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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Developing Marketing InformationMarketing Research
Written Research Plan Includes:
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Developing Marketing Information
Secondary data consist of information that already exists somewhere, having been collected for another purpose
Marketing ResearchDeveloping the Research Plan
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Developing Marketing InformationSecondary Data
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Developing Marketing Information
Primary data consist of information gathered for the special research plan
Marketing ResearchDeveloping the Research Plan
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Developing Marketing Information
Marketing Research
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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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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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Developing Marketing Information
Experimental research is best for gathering causal information—
cause-and-effect relationships
Market ResearchResearch Approaches
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Developing Marketing Information
• Focus Groups– Six to ten people with a trained moderator– Challenges
• Expensive• Difficult to generalize from small group• Consumers not always open and honest
Marketing ResearchContact Methods
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Developing Marketing Information
Marketing Research Contact Methods
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Developing Marketing InformationMarketing Research
Online Research
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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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Developing Marketing InformationMarketing Research
Research Instruments
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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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Developing Marketing Information
Marketing ResearchResearch Instruments
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Developing Marketing Information
Marketing ResearchImplementing the Research Plan
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Analyzing Marketing Information
Managing detailed information about
individual customers and carefully
managing customer touch points to
maximize customer loyalty.
Customer Relationship Management (CRM)
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Analyzing Marketing Information
Customer Relationship ManagementTouchpoints
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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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Other Marketing Information Considerations
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Copyright © 2012 Pearson Education.Copyright © 2012 Pearson Education.
