chapter 4 marketing
DESCRIPTION
Chapter 4 MarketingTRANSCRIPT
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Developing Marketing Information
• Information needed can be obtained from:• Internal databases• Competitive marketing intelligence• Marketing research
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Internal Databases
• Electronic collections of consumer and market information within a company’s network
• Advantage: Information can be accessed quickly and economically.
• Disadvantages:• Data ages rapidly and may be incomplete.• Maintenance and storage of data is expensive.
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Competitive Marketing Intelligence
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Competitive Marketing Intelligence
• Advantages: • Gain insights about consumer opinions and their
association with the brand• Gain early warnings of competitor strategies,
new product launches or changing markets, and potential competitive strengths and weaknesses
• Help firms to protect their own information• Disadvantage:
• May involve ethical issues
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Marketing Research
• Systematic design, collection, analysis, and reporting of data• Relevant to a specific marketing situation facing
an organization
• Approaches followed by firms:• Use own research departments• Hire outside research specialists• Purchase data collected by outside firms
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Figure 4.2 - The Marketing Research Process
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Secondary Data
• Information that already exists• Collected for another purpose
• Sources:• Company’s internal database• Purchased from outside suppliers• Commercial online databases• Internet search engines
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Secondary Data
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Primary Data
• Information collected for the specific purpose at hand
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Table 4.1 - Planning Primary Data Collection
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Research Approaches
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Mail, Telephone, and Personal Interviewing
• Mail questionnaires are used to collect large amounts of information at a low cost per respondent.
• Telephone interviewing gathers information quickly, while providing flexibility.
• Personal interviewing methods:• Individual interviewing• Group interviewing
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Table 4.2 - Strengths and Weaknesses of Contact Methods
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Online Marketing Research
• Data is collected through:• Internet surveys• Online focus groups: Focus group interviewing
conducted online• Web-based experiments• Tracking consumers’ online behavior
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Online Behavioral & Social Tracking and Targeting
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Sampling Plan
• Sample: Segment of the population selected to represent the population as a whole
• Decisions required for sampling design:• Sampling unit - People to be studied• Sample size - Number of people to be studied• Sampling procedure - Method of choosing the
people to be studied
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Types of Samples
• Probability samples:• Simple random sample• Stratified random sample• Cluster (area) sample
• Nonprobability samples:• Convenience sample• Judgment sample• Quota sample
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Research Instruments
• Questionnaires can be administered in person, by phone, by e-mail, or online.• Closed-end questions• Open-end questions
• Mechanical instruments include:• People meters• Checkout scanners• Neuromarketing
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Implementing the Research Plan
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Interpreting and Reporting Findings
• Responsibilities of the market researcher: • Interpret the findings• Draw conclusions• Report findings to management
• Responsibilities of managers and researchers:• Work together closely when interpreting
research results• Share responsibility for the research process and
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Customer Relationship Management (CRM)
• Managing detailed information about individual customers
• Carefully managing customer touch points to maximize customer loyalty
• Consists of software and analytical tools that:• Integrate customer information from all sources• Analyze data in depth• Apply the results
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Distributing and Using Marketing Information
• MIS must make information readily available for decision-making.• Routine information for decision making• Non-routine information for special situations
• Intranets and extranets facilitate the information sharing process.
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Marketing Research in Small Businesses and Nonprofit Organizations
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International Marketing Research
• The problems faced include:• Dealing with diverse markets• Finding good secondary data in foreign markets• Developing good samples • Reaching respondents • Handling differences in culture, language, and
attitudes toward marketing research
• The cost of research is high but the cost of not doing it is higher.
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Intrusions on Consumer Privacy
• Failure to address privacy issues results in:• Angry, less cooperative consumers • Increased government intervention
• Best approach for researchers:• Asking only for the information they need• Using the information responsibly to provide
customer value• Avoiding sharing the information without the
customer’s permission4 - 25
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Misuse of Research Findings
• Few advertisers rig their research designs or deliberately misrepresent the findings.
• Solutions:• Development of codes of research ethics and
standards of conduct• Companies must accept responsibility to protect
consumers’ best interests and their own.
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