MARKETING Session 7. The Marketing Information System and Marketing Research

Transcription

1 MARKETING Session 7 The Marketing Information System and Marketing Research

2 AGENDA A. Developing the research plan for conducting a survey B. The Marketing research process C. Marketing information systems

3 AGENDA A. Developing the research plan for conducting a survey B. The Marketing research process C. Marketing information systems

4 A. Developing the research plan for conducting a survey 1. Formulate the survey keeping in mind your overall substantive and analytical needs. 2. Determine specifically what mode of collecting the data will be used. 3. Determine an appropriate sampling plan 4. Develop the questionnaire (the survey instrument) 5. If you are using telephone or personal interviews, be sure the interviewers are carefully trained 6. Conduct an early pretest of the survey, whenever possible 7. Execute the survey in the field 8. Edit and process the data 9. Analyze the data

5 A. Developing the research plan for conducting a survey/1 1. Formulate the survey keeping in mind your overall substantive and analytical needs. Define the problem you want to examine Identify the population that will be surveyed Determine what kinds of variables you want to measure What questions do you want to have answered? What s the best way to go about getting those answers? 2. Determine specifically what mode of collecting the data will be used. Personal interviews Telephone surveys Mailed questionnaires/drop-off surveys Web-based surveys and -based surveys

6 A. Developing the research plan for conducting a survey/2 3. Determine an appropriate sampling plan What is the sampling frame? - What do I use to select elements of the sample? How many interviews need to be completed? (sample size, sampling fraction) - What response rate is required? Who should be included in the sample? How can the sample be made representative of the population? Select the sample - Probability & non probaqbility samples 4. Develop the questionnaire (the survey instrument) Each question should fit into the overall plan of research Each question should be suitable for the mode you have chosen to conduct the survey and for the population that has been sampled

7 A. Developing the research plan for conducting a survey/3 5. If you are using telephone or personal interviews, be sure the interviewers are carefully trained (interviewer bias can wreck otherwise well-designed surveys) 6. Conduct an early pretest of the survey, whenever possible (use these results to refine the instrument and work out any bug in the survey procedures) 7. Execute the survey in the field, and be ready to deal with problems such as length, unnecessary and incompatible items, 8. Edit and process the data 9. Analyze the data

8 Types of research Exploratory research: Gathering preliminary information that will help define the problem and suggest hypotheses. Descriptive research: Generating information to better describe marketing problems, situations, or markets. Causal research: Testing hypotheses about cause-and-effect relationships.

9 A.2. Contact Methods 1. Personal interviews 2. Telephone surveys 3. Mailed questionnaires/drop-off surveys 4. Web-based surveys and -based 4. Web-based surveys and -based surveys

10 A.2. Contact Methods - comparisons Mail Phone Personal Online Flexibility Poor Good Excellent Good Quantity of data collected Control of interviews effect Good Fair Excellent Good Excellent Fair Poor Fair Control of sample Fair Excellent Fair Poor Speed of data collection Poor Excellent Good Excellent Response rate Fair Good Good Good Cost Good Fair Poor Excellent

11 A.3. Sampling Plan Sample: segment of the population selected to represent the population as a whole. Sampling requires three decisions: Who is to be surveyed? Sampling unit How many people should be surveyed? Sample size How should the people in the sample be chosen? Sampling procedure Probability vs. nonprobability samples

12 Types of samples Probability and non-probability samples

13 A.4. Research instruments questionnaires What questions to ask? Form of each question? Closed-ended Open-ended Wording? Ordering?

14 Financial services Strong ly Dis. Disag ree Neith agr., nor dis. Agr ee Stro ngly Agr. Do not kno w Leaders in technology Wide range of products Think outside the square High performer in financial markets Company for people who want to achieve Experts in financial matters Dynamic and progressive Proactive with advice and suggestions Company you can trust Help customers achieve financial goals Honest and upfront Staff take responsibility Easy to deal with Treat customers with respect and recognition

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17 C.S. Model American Customer Satisfaction Index

18 AGENDA A. Developing the research plan for conducting a survey B. The Marketing research process C. Marketing information systems

19 MSI - Marketing Research Systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization. Firms may hire outside specialists or have a research department in-house.

20 B. The Marketing Research Process

21 B.1. Defining Problem and Objectives Problems and research objectives must be defined jointly by marketing managers and researchers An example of problem is the launch of a new product An example of research objective is to understand how consumers will react to the new product The statement of the problem and research objectives guides the entire research process

22 B.2. Developing the Research Plan Research objectives must be translated into specific information needs. Information needs might include detailed customer characteristics, usage patterns, retailer reactions, sales forecasts, or other information. The research plan outlines sources of existing data and spells out specific research approaches: a.types of data: Secondary vs primary data b.research approach: Survey, observation, or experiment

23 B.2.a. Secondary data Internal information sources Sales trends Accounting data External information sources Trade associations Industry profiles Public Authority reports Commercial online databases

24 B.2.a. Secondary Data Advantages: Available more quickly and at a lower cost than primary data. Can lead to information that an individual firm could not gather itself. Disadvantages: Desired information may not exist as secondary data. Secondary data must be carefully evaluated for relevancy, accuracy, currency, and impartiality.

25 B.2.a. Primary Data Consists of information collected for the specific purpose at hand. Primary data must be relevant, accurate, current, and unbiased.

26 B.2.b. Research approach - Survey Survey research: Gathers primary data by asking people questions about their knowledge, attitudes, preferences, and buying behavior. Most widely used method for primary data collection. Best suited for gathering descriptive information.

27 B.2.b Survey Complementary research approaches Qualitative research Ill structured contexts No clear hypotheses deep phenomena Limited understanding of the phenomenon Quantitative research Well structured contexts Clear hypotheses superficial phenomena Good understanding of the phenomenon

28 An integrated research process Qualitative research (Exploratory) Quantitative research (Conclusive) Problem definition Hypothesis development Research plan Field research Analysis and interpretation of results Report and presentation

29 B.2.b. Research approach - Observations The gathering of primary data by observing relevant people, actions, and situations. Can obtain information that people are unwilling or unable to provide. Cannot be used to observe feelings, attitudes, and motives, and long-term or infrequent behaviors. Ethnographic research: Trained observers watch and interact with consumers in their natural habitat. Yields richer understanding of consumers.

30 B.2.b. Research approach - Experiments Gathering primary data by selecting matched groups of subjects, giving them different treatments, controlling related factors and checking for differences in group responses. Best suited for explaining cause-and-effect (causal) relationships.

31 B.3. Implementing Research Plan It involves collecting, processing, and analyzing the information during a given period and through a given budget It can be carried out by the company marketing research staff and/or by outside firms Company s researchers must check data for accuracy and completeness

32 B.4. Interpreting and reporting findings It involves interpreting the findings, drawing conclusions, and reporting them to management A formal document is usually written and presented to management On the basis of these results, management takes decisions whose responsibility is shared with company s researchers

33 AGENDA A. Developing the research plan for conducting a survey B. The Marketing research process C. Marketing information systems

34 The Marketing Process

35 Customer Insights Marketing info system - Consists of people and procedures for assessing information needs, developing the needed information, and helping decision makers to use the information to generate and validate actionable customer and market insights. Internal databases Marketing intelligence Marketing research

36 A marketing information system is a management information system designed to support marketing decision making. Jobber (2007) defines it as a "system in which marketing data is formally gathered, stored, analysed and distributed to managers in accordance with their informational needs on a regular basis." Kotler, et al. (2006) define it more broadly as "people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers." [ Customer insights - Fresh understandings of customers and the marketplace derived from marketing information that become the basis for creating customer value and relationships.

37 C.1 MSI Internal databases Internal databases are electronic collections of consumer and market information obtained from data sources within the company network. Includes customer profile data, customer satisfaction data, and more. Accessed more quickly and cheaply than other information sources. Ages rapidly and may be incomplete.

38 C.2 MSI - Competitive Marketing Intelligence Competitive Marketing Intelligence - Systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketing environment. Annual reports from the competition and consumer blogs are two examples.