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Chapter 4- slide 1Copyright © 2012 Pearson Education, Inc.Publishing as Prentice Hall
Chapter Four
Managing MarketingInformation to Gain CustomerInsights
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earning !b"ecti#es
• Marketing Information andCustomer Insights
•
Assessing Marketing InformationNeeds• Developing Marketing Information• Marketing Research• Analyzing and Using Marketing
Information• Other Marketing Information
Considerations
opic Outline
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$ar%eting In&or'ation andCusto'er Insights
• To create value and build meaningfulrelationships with them, marketers
must rst gain fresh and deep insightsinto customers needs and wants• Di cult to obtain
–
ot obvious – Customer!s unsure of their behavior
• "etter information and more e#ective
use of e$isting information
Customer Insights are!
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$ar%eting In&or'ation andCusto'er Insights
• The real value of marketing researchand marketing information lies in howit is used % in the C&'T(M)* I 'IG+T'that it provides
• C&'T(M)* I 'IG+T' are fresh
understanding of customers and themarketplace derived from marketinginformation that become the basis for
creating customer value and
Customer Insights
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$ar%eting In&or'ation andCusto'er Insights
• Companies are forming customerinsights teams
• )g Coca-Cola marketing researchgroup is headed b. a vice president
of marketing strateg. and insights – Include all compan. functional areas – Collect information from a wide variet. of
sources – &se insights to create more value for their
Customer Insights
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$ar%eting In&or'ation andCusto'er Insights
Marketing information
system "MI#$ consists ofpeople and procedures for/ – 0ssessing the information needs – Developing needed information – +elping decision makers use the
information for customer
Marketing Information #ystems "MI#$
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$ar%eting In&or'ation (yste'
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)ssessing $ar%eting In&or'ation*eeds
MI# provides information to thecompan.!s marketing and othermanagers and e$ternal partnerssuch as suppliers, resellers, andmarketing service agencies
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)ssessing $ar%etingIn&or'ation *eeds
• "alancing what the informationusers would like to have againstwhat the. need and what isfeasible to o#er
Characteristics of a %ood MI#
!ser"s#eeds
$I%&''erings
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)naly+ing $ar%etingIn&or'ation *eeds
• The cost of obtaining ,anal.1ing ,storing and delivering informationcan 2uickl. mount The compan.must decide whether the value ofinsights gained from additional
information is worth the costs ofproviding it, and both value andcost are hard to assess
Characteristics of good MI#
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e#eloping $ar%eting In&or'ation
Internal data$ar(eting intelligence
$ar(eting research
Marketers o&tain information from
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e#eloping $ar%eting In&or'ation
Internal data&ases are electronic
collections of consumer andmarket information obtained fromdata sources within the compan.network
Internal Data
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e#eloping $ar%eting In&or'ation
The s.stematic collection andanal.sis
of publicl. available information
about consumers, competitorsand developments in the
marketplace
Competitive MarketingIntelligence
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e#eloping $ar%eting In&or'ation
• Marketing research is the s.stematic design,collection, anal.sis, and
reporting of data relevant toa speci c marketing situation
facing an organi1ation
Marketing Research
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e#eloping $ar%eting In&or'ation#teps in the Marketing Research
'rocess
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e#eloping $ar%eting In&or'ationMarketing ResearchDe(ning the 'ro&lem and Research
O&)ectives
E)ploratory research
*escripti e research
Causal research
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e#eloping $ar%eting In&or'ation
• (utlines sources of
e$isting data• 'pells out the speci c
research approaches,contact methods,sampling plans, andinstruments to gatherdata
Marketing ResearchDeveloping the Research 'lan
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e#eloping $ar%eting In&or'ation
$anage'ent proble'
esearch ob"ecti#es
In&or'ation needed
Ho the results ill help'anage'ent decisions
/udget
Marketing Research*ritten Research 'lan Includes!
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e#eloping $ar%eting In&or'ation
#econdary data consists ofinformation that alread. e$istssomewhere, having been collectedfor another purpose
'rimary data consists ofinformation gathered for thespecial research plan
Marketing ResearchDeveloping the Research 'lan
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e#eloping $ar%eting In&or'ation(econdary ata
Ad antages
Cost
%peed
Could not getdata other+ise
*isad antages
Current
ele ant
Accuracy
I-partial
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e#eloping $ar%eting In&or'ation
Planning Primary DataCollection
esearchapproaches
Contact -ethods
%a-pling plan
esearchinstru-ents
Marketing Research
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e#eloping $ar%eting In&or'ation
O&servational research involvesgathering primar. data b.observing relevant people, actions,and situations
+thnographic research involvessending trained observers to watchand interact with consumers intheir natural environment
- etnograph.-observing consumers
Market ResearchResearch Approaches
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e#eloping $ar%eting In&or'ation
#urvey research is the most widel.used method and is best fordescriptive information3knowledge, attitudes,preferences, and bu.ing behavior
• 4le$ible• 5eople can be unable or unwilling to
answer• Gives misleading or pleasing answers• 5rivac. concerns
Market ResearchResearch Approaches
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e#eloping $ar%eting In&or'ation
+,perimental research is best forgathering causal information3cause-and-e#ect relationships
Market ResearchResearch Approaches
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e#eloping $ar%eting In&or'ationMarketing Research #trengths and*eakness of Contact Methods
$ail elephone Personal !nline
Fle)ibility Poor ood E)cellent ood
/uantity o' datacollected
ood Fair E)cellent ood
Control o'inter ie+er e''ects
E)cellent Fair Poor Fair
Control o' sa-ple Fair E)cellent ood E)cellent
%peed o' datacollection
Poor E)cellent ood E)cellent
esponse rate Poor Poor ood ood
Cost ood Fair Poor E)cellent
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e#eloping $ar%eting In&or'ation
Internetsur#eys
!nlinepanels
!nlinee peri'ents
!nline&ocus
groups
Marketing ResearchOnline Contact Methods
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e#eloping $ar%eting In&or'ation
Ad antages
• o+ cost• %peed• igher response rates• ood 'or hard to reach
groups
Marketing ResearchOnline Contact Methods
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e#eloping $ar%eting In&or'ation
#ample is a segment of the populationselected for marketing research torepresent the population as a whole
– 8ho is to be studied9 :sampling unit; – +ow man. people should be studied9
:sample si1e; – +ow should the people be chosen9
:sampling procedure;
Marketing Research#ampling 'lan
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e#eloping $ar%eting In&or'ation
Probability (a'ple
%i-ple rando- sa-ple E ery -e-ber o' the population has a (no+n and e ualchance o' selection
%trati'ied rando-sa-ple 3he population is di ided into -utually e)clusi e groupsand rando- sa-ples are dra+n 'ro- each group
Cluster area5 sa-ple 3he population is di ided into -utually e)clusi e groupsand the researcher dra+s a sa-ple
*onprobability (a'ple
Con enience sa-ple 3he research selects the easiest population -e-bers6udg-ent sa-ple 3he researcher uses their 7udg-ent to select population
-e-bers
/uota sa-ple 3he researcher 'inds and inter ie+s a prescribednu-ber o' people in each o' se eral categories
Marketing Research
#ampling 'lan - ypes of #amples
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e#eloping $ar%eting In&or'ation
Marketing ResearchResearch Instruments
/uestionnaires• $ost co--on• Ad-inistered in person, by phone, or
online• Fle)ible• esearch -ust be care'ul +ith
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e#eloping $ar%eting In&or'ation
• Closed-end 2uestions include allpossible answers, and sub
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e#eloping $ar%eting In&or'ation
• *esearchers should also use care inthe wording and ordering of2uestions
• &se simple ,direct and unbiasedwording
• 0rrange 2uestions in a logical order4irst 2uestion should create interestif possible and di cult or personal2uestions should be asked last so
Marketing ResearchResearch Instruments./uestionnaires
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e#eloping $ar%eting In&or'ation
$echanicalde#ices
People'eters
Chec%outscanners
*euro-'ar%eting
Marketing ResearchResearch Instruments
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e#eloping $ar%eting In&or'ation
Collecting the in&or'ationProcessing the in&or'ation
)naly+ing the in&or'ation
Interpret &indingsra conclusions
eport to 'anage'ent
Marketing ResearchImplementing the Research 'lan
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)naly+ing and sing $ar%etingIn&or'ation
Managing detailed information aboutindividual customers and carefull.managing customer touch points to
ma$imi1e customer lo.alt. Touch points- ever. contact between
customer and compan.
Customer RelationshipManagement "CRM$
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)naly+ing and sing $ar%etingIn&or'ation
Custo'erpurchases
(ales &orcecontacts
(er#ice andsupport
calls
ebsite#isits
(atis&actionsur#eys
Credit andpay'entinteractions
esearchstudies
Customer Relationship Managementouchpoints
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istributing and sing $ar%etingIn&or'ation
Information distri&ution involvesentering information intodatabases and making itavailable in a time-useablemanner
• Intranet provides information toemplo.ees and otherstakeholders
• )$tranet provides information toke. customers and suppliersCopyright ©2014 by Pearson Education, Inc. All rights reser ed
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!ther $ar%eting In&or'ationConsiderations
$ar%eting esearch in ('all /usinessesand *onpro&it !rgani+ations
International $ar%et esearch
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!ther $ar%eting In&or'ationConsiderations
Public Policy and Ethics
• Custo'er pri#acy• $isuse o& research &indings
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