DISCLAIMER
These notes are for the sole purpose of understanding the concepts of marketing and are to be used for class room purposes only. The logos of certain manufactures used are owned by their respective owners and unauthorized use of them may lead to legal persecution. This presentation also may contain copyrighted material which on no account should be reproduced / reprinted in any form without permission.
Managing Marketing Knowledge
21
Learning Goals
1. 2. 3. 4. 5.
Marketing Info. System
Marketing Information System (MIS)
Consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers.
Explain the importance of information to the company Define the marketing information system Outline the steps in the market research process Explain how companies analyze and distribute information Discuss special issues facing market researchers
The components of a computerised MIS
programmes to carry-out sales forecasts, spending projections
Buyer Preferences and Behavior: Duponts Pillow Study
Pillow Segments 23% - stackers 20% - plumpers 16% - rollers or folders 16% - cuddlers 10% - smashers
raw data e.g. historical sales data, secondary data Data Bank
Statistical Bank
MIS
Marketing Manager
Model Bank
Stores marketing models e.g. Ansoffs matrix, Boston Matrix
Marketing Info. System
Begins and Ends with Information Users:
Interacts with information users to assess information Develops needed information from internal and external sources Helps users analyze information for marketing decisions Distributes the marketing information and helps managers use it for decision making
Assessing Marketing Information Needs
The MIS serves company managers as well as external partners The MIS must balance needs against feasibility:
Not all information can be obtained. Obtaining, processing, sorting, and delivering information is costly
Steps to Improve Marketing Intelligence
Train sales force to scan for new developments Motivate channel members to share intelligence Network externally Utilize a customer advisory panel Utilize government data resources Purchase information Collect customer feedback online
Developing Marketing Information
Internal data is gathered via customer databases, financial records, and operations reports. Advantages include quick/easy access to information. Disadvantages stem from the incompleteness or inappropriateness of data to a particular situation.
Sources of Info
Internal data Marketing intelligence Marketing research
Developing Marketing Information
Marketing intelligence is the systematic collection and analysis of publicly available information about competitors and trends in the marketing environment. Competitive intelligence gathering activities have grown dramatically. Many sources of competitive information exist.
Sources of Competitive Intelligence
Company employees Internet Garbage Published information Customer review sites Customer Complaints sites Public blogs Competitors employees Trade shows Benchmarking Channel members and key customers
Sources of Info
Internal data Marketing intelligence Marketing research
Secondary Commercial Data Sources
AC Nielsen ORG MARG CMIE TAM Media Research Euromonitor International Gallup
Secondary Data
Evaluate the Following When Judging Data Quality
Relevance Accuracy Currency Impartiality
NCAER
Trends Shaping the Business Landscape
Profound shifts in centers of economic activity Increases in public-sector activity Change in consumer landscape Technological connectivity Scarcity of well-trained talent Increase in demand for natural resources Emergence of new global industry structures Ubiquitous access to information Management shifts from art to science Increase in scrutiny of big business practices
Developing Marketing Information
Marketing research is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.
Sources of Info
Internal data Marketing intelligence Marketing research
Types of Marketing Research Firms
The Marketing Research Process
Define the problem Develop research plan
Syndicatedservice
Custom
Specialtyline
Collect information Analyze information Present findings
Make decision
Step 1: Define the Problem
Define the problem Specify decision alternatives State research objectives
Step 2: Develop the Research Plan
Data Sources Research Instruments Contact Methods Research Approach Sampling Plan
Research Approaches
Observation Ethnographic Focus Group Survey Behavioral Data Experimentation
Research Instruments
Questionnaires Qualitative Measures Technological Devices
Questionnaire Dos and Donts
Ensure questions are free of bias Make questions simple Make questions specific Avoid jargon Avoid sophisticated words Avoid ambiguous words Avoid negatives Avoid hypotheticals Avoid words that could be misheard Use response bands Use mutually exclusive categories Allow for other in fixed response questions
Sampling Plan
Sampling unit: Who is to be surveyed? Sample size: How many people should be surveyed? Sampling procedure: How should the respondents be chosen?
Contact Methods
Mail Questionnaire Telephone Interview Personal Interview Online Interview
Pros and Cons of Online Research
Advantages Inexpensive Fast Accuracy of data, even for sensitive questions Versatility Disadvantages Small samples Skewed samples Technological problems Inconsistencies
Marketing Decision Support System (MDSS)?
A marketing decision support system is a coordinated collection of data, systems, tools, and techniques with supporting hardware and software by which an organization gathers and interprets relevant information from business and environment and turns it into a basis for marketing action.
Barriers Limiting the Use of Marketing Research
A narrow conception of the research Uneven caliber of researchers Poor framing of the problem Late and occasionally erroneous findings Personality and presentational differences
Typical Problems in Rural Research
Low literacy levels require innovations in questionnaire design scales Wide geographical dispersion requires long travels A large number of languages and dialects, requiring multiple translations Non-availability of working population at normal places of residence Poor access to women respondents Villages layout based on caste lines, requiring innovative sampling
Characteristics of Good Marketing Research
Scientific method Research creativity Multiple methods Interdependence Value and cost of information Healthy skepticism Ethical marketing
What is Marketing Metrics?
Marketing metrics is the set of measures that helps marketers quantify, compare, and interpret marketing performance.
Marketing Metrics
External
Awareness Market share Relative price Number of complaints Customer satisfaction Distribution Total number of customers Loyalty
Internal
Awareness of goals Commitment to goals Active support Resource adequacy Staffing levels Desire to learn Willingness to change Freedom to fail Autonomy
What is Marketing-Mix Modeling?
Marketing-mix models analyze data from a variety of sources, such as retailer scanner data, company shipment data, pricing, media, and promotion spending data, to understand more precisely the effects of specific marketing activities.
Marketing Dashboards
A customer-performance scorecard records how well the company is doing year after year on customer-based measures. A stakeholder-performance scorecard tracks the satisfaction of various constituencies who have a critical interest in and impact on the companys performance including employees, suppliers, banks, distributors, retailers, and stockholders.
