turning marketing information into action chapter 8
TRANSCRIPT
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TURNING MARKETING INFORMATION INTO
ACTION
TURNING MARKETING INFORMATION INTO
ACTION
CHAPTER 8
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Five-step marketing research approach leading Five-step marketing research approach leading to marketing actionsto marketing actions
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• Set the Research Objectives
• Identify Possible Marketing Actions Measures of success
STEP 1: DEFINE THE PROBLEM
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• Specify Constraints
• Identify Data needed for Marketing Actions
• Determine How to Collect Data• Concepts
• Methods Probability sampling Nonprobability sampling Statistical inference
STEP 2: DEVELOP THE RESEARCH PLAN
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Types of Marketing InformationTypes of Marketing Information
STEP 3: COLLECT RELEVANT INFORMATION
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• Secondary Data• Internal Secondary Data• External Secondary Data
• Primary Data• Observational Data• Questionnaire Data• Panels and Experiments
• Advantages and Disadvantages
STEP 3: COLLECT RELEVANT INFORMATION
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Example: Nielsen//NetRatings of the top 10 Internet WebsitesExample: Nielsen//NetRatings of the top 10 Internet Websites
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• Using Information Technology to Trigger Marketing Actions• The Marketing Manager’s View of Sales “Drivers”
• Key Elements of an Information System
• The Challenge in Mining Marketing Data
• Data Mining: Approach to Searching the Data Ocean
STEP 3: COLLECT RELEVANT INFORMATION
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• Analyze the Data
• Present the Findings
STEP 4: DEVELOP FINDINGS
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Converting data into marketing actions: What to Converting data into marketing actions: What to do about supermarket chains . . .do about supermarket chains . . .
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• Identify the Action Recommendations
• Implement the Action Recommendations
• Evaluate the Results
STEP 5: TAKE MARKETING ACTIONS
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• Basic Forecasting Terms• Market or Industry Potential
• Sales or Company Forecast
• Two Basic Approaches to Forecasting• Top-Down Forecast
• Buildup Forecast
MARKET AND SALES FORECASTING
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Buildup approach to a two-quarter sales forecast Buildup approach to a two-quarter sales forecast for Apple Computer productsfor Apple Computer products
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• Specific Sales Forecasting Techniques• Judgments of the Decision Maker
Direct forecast Lost-horse forecast
• Surveys of Knowledgeable Groups Survey of buyers’ intentions forecast Salesforce survey forecast Jury of executive opinion forecast Survey of experts forecast
• Statistical Methods Trend extrapolatioN
MARKET AND SALES FORECASTING
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Linear trend extrapolation of sales revenues of Linear trend extrapolation of sales revenues of Xerox . . . 1999Xerox . . . 1999