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WELCOME PMBA 502WELCOME PMBA 502TODAYTODAY (Oct. 27, 2008):

•Chp. 5•Discussion Questions:•P. 157, Q2•P. 196, 3a and 3b

NOTE:Please hand in the written answer of your choice for feedback from the professor before you leave class today.

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Chapter FiveManaging Marketing

Information

With Duane Weaver

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Outline• Information – More or Better• Assessing Info Needs• Data Gathering Techniques• Market Research Process• Types of Data• Sampling• Primary Research Instruments• Research Issues

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Information – More or Better?

• Companies need information about their:– Customer needs.– Marketing environment.– Competition.

• Marketing managers do not need more information, they need better information.

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Assessing Information Needs

• A good MIS (Management Information System) balances the information- users would like- against what they really need- and what is feasible to offer.

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Data Gathering Techniques• Internal data.

– Internal information that the various departments already have.

• Marketing intelligence.– Information that can be gathered from

public or legally available sources.

• Marketing research.– Specific information gathered to answer a

specific question.

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Market Research Process1. Define the problem.

2. Set the research objectives.

3. Develop a research plan.

4. Implement the marketing research plan.

5. Analyze and interpret the data.

6. Report the findings.

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Types of Marketing Research• Exploratory research.

– To gather preliminary information.– Primary or secondary data.

• Descriptive research.– To describe marketing situations or markets.– Surveys, observational studies.

• Causal research.– To experiment with cause-and-effect relationships.

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Types of Data• Secondary.

– Data or information that has been gathered and published by other parties.

– Publications, websites, directories.

• Primary.– Data or information that is gathered directly

from the subjects of the research.– Interviews, focus groups, observation,

surveys, experiments.

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Sampling• Sample.

– A segment of the population selected to represent the population as a whole.

• Sample unit.– Who is to be surveyed?

• Sample size.– How many people should be surveyed?

• Sampling procedure.– How should those surveyed be chosen?

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Primary Research Instruments

Mechanical:– People meters.– Supermarket

scanners.– Galvanometer.– Eye cameras.– Computers.

Questionnaires:– What questions to

ask.– Form of each

question.• Closed-ended.• Open-ended.

– Wording.– Ordering.

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Research Issues • Small businesses and non-profit

organizations lack research resources.• International marketing information can

be difficult and costly to obtain.• Competitive information often difficult to

obtain ethically.• Public policy issues.

– Intrusions on consumer privacy.– Misuse of research findings.

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Thank You!Thank You!