Managing Marketing Information (Marketing Research) by vei53664

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									                                                                                                                Importance of Information

                                                                                             Strategic planning requires an understanding of the marketing environment.
                                                                                             Competitors? Customers? Opportunities / Threats?

         Managing Marketing Information                                                      Information availability and need for information have been increasing.
                                                                                             - for the right kind, better information
                         (Marketing Research)                                                It is not just an input for decision making, but also a strategic asset.




MKTG 201 Serdar Sayman                                                       Slide 1   MKTG 201 Serdar Sayman                                                           Slide 2




                           Sources of Information                                                     Some Marketing Research Problems


         Internal Data: From data sources within the company                                             Potential demand for a new product
                                                                                                         Buyer analysis
         Marketing Intelligence: Collection and analysis of publicly available                           Segmentation
         information about the marketing environment, competitors ...                                    Brand name preference
                                                                                                         Selecting among alternative ad campaigns
         Marketing Research: Systematic design, collection, analysis, and
                                                                                                         Customer satisfaction levels
         reporting of information relevant to a marketing situation.
                                                                                                         Optimal product features
                 It is a function which links environment to the marketer                                    .
                                                                                                             .
                                                                                                             .
                 Info is used as an input to the decision-making process

MKTG 201 Serdar Sayman                                                       Slide 3   MKTG 201 Serdar Sayman                                                           Slide 4
                     Marketing Research - Example                                                             Marketing Research Process


  Taste Test: In early 1980s, Pepsi ran a TV ad featuring an experiment.                                          Defining the Research Problem
                                                                                                                   Research Design / Objective
  Regular drinkers of Coke were given a glass of Coke marked only as “Q”

  and a glass of Pepsi marked only as “M”. More than half the respondents
                                                                                                                          Research Plan:
  said brand “M” tasted better.                                                                               Data Type, Collection Method, Sampling


                                                                                                                   Data Collection and Analysis
                                     Q                M
                                                                                                                   Interpretation and Reporting
MKTG 201 Serdar Sayman                                                     Slide 5   MKTG 201 Serdar Sayman                                                        Slide 6




     1. Decision Problems vs. Research Problems                                                               Research Design / Objective

                                                                                       Research Design: Detailed blueprint used to guide the implementation of a
Decision Problems                        Research Problems                             research study towards the realization of its objectives.

                                         What information is needed                    Exploratory research gathers preliminary information to gain ideas and
What should the decision maker do?
                                         and how it can be obtained?                   insight into the research problem

                                                                                       Descriptive research generates summary measures (e.g. consumer attitudes,
Develop package for a new product
                                                                                       demographics, consumption) to address clearly defined research questions and
Increase store traffic                                                                 objectives.

                                                                                       Causal research used to establish cause and effect – to understand the
                                                                                       relationships between management actions and outcomes.

MKTG 201 Serdar Sayman                                                     Slide 7   MKTG 201 Serdar Sayman                                                        Slide 8
                               2. Research Plan                                                            Where Does Data Come From?

         Data Types:                                                                  Primary: Obtained through:

             Primary Data: Information that you collect for the specific                      Surveys (including focus groups, in-depth interviews)
             purpose at hand                                                                  Observations

             Secondary Data: Information that has been previously                     Secondary: Sources:
             collected for some other purpose
                                                                                              Internal: Invoices, salespeople call reports ...
             Information needed → data type used                                              External - Non-commercial: Government reports, financial records, trade
                                                                                              association reports, academic publications, Internet ...
             Data / information should be:
             Relevant, Accurate, Current, Objective, Cost Efficient                           External - Commercial: Consumer panel data, (combined) scanner data,
                                                                                              advertising exposure data, geodemographic data ...
MKTG 201 Serdar Sayman                                                      Slide 9   MKTG 201 Serdar Sayman                                                            Slide 10




                         Data Collection Methods                                                       A Comparison of Contact Methods

                                                                                                                         Mail          Phone        Personal   Online
Survey (Communication): Questioning individuals
about attitudes, preferences or buying behaviors using                                Flexibility                        4             2-3          1          2-3
                                                                                      Duration (quantity of data)        2-3           4            1          2-3
an instrument (oral or written).
                                                                                      Control of interviewer effects     1-2           3            4          1-2
                                                                                      Control of sample                  3             2            1          4
                                                                                      Speed of data collection           4             1            3          2
Observation: Gathering data by observing people,                                      Response rate                      4             2            1          3
actions / behaviors, and situations.                                                  Cost                               2             3            4          1

                                                                                                                                      1: best . . . 4: worst
MKTG 201 Serdar Sayman                                                     Slide 11   MKTG 201 Serdar Sayman                                                            Slide 12
   Primary Data (Survey) Example: Focus Groups                                                           Example: Survey and Observation Together

              Usually 6-10 participants, a relatively informal setting
                                                                                                   (definitely would not buy)                                 (definitely would buy)
              Sometimes a one-way mirror and/or video or audio recording
              Moderator leads the discussion considering the study objectives                                               1 - 2 - 3 - 4 - 5 - 6 - 7 - 8 - 9 - 10
              Moderator stimulates interaction among group members
              Funnel Approach: Start with general, move towards increasingly specific              using the above scale, respondents are asked to indicate their purchase
           Uses:
                                                                                                   probability for a new product. Later, actual purchases are tracked.
             to generate background information for a product category
                                                                                                      “definitely would buy” : only 45% bought the product
             to gather impressions on new product concepts
             to stimulate new ideas about existing products                                           “definitely would not buy” : 5% actually bought the product
             to generate information to clarify a problem
              …
                                                                                                      As the answer to the above scale increased, buying % increased
                                                                                                      but with less % than expected
           Better suited to exploratory research                                                                                                       Source: Marketing Science, 1986
MKTG 201 Serdar Sayman                                                                  Slide 13   MKTG 201 Serdar Sayman                                                          Slide 14




               Scanner Data: Secondary vs. Primary                                                              Secondary Data Example: Panel Data


                                                                                                                 Panel Data: Longitudinal histories:
                demand, market share

                price                                                                                                  what you bought

                sales with promotions                                                                                  how much you paid for it
                                                                                                                       how many you bought
                distribution
                                                                                                                       when you bought
                                                                                                                       where you bought it




MKTG 201 Serdar Sayman                                                                  Slide 15   MKTG 201 Serdar Sayman                                                          Slide 16
                                      Sampling                                                          Last Two Steps ...


                  Who is to be in the sample?
                                                                               3. Data Collection and Analysis
                  How should the sample be chosen?
                                                                                  Collecting, processing, analysis of data
                         Probability or Non-probability sampling?

                  How many should be in the sample?                            4. Interpreting and Reporting the Findings
                                                                                  Make conclusions, report to the management




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