Marketing Summary Chapter 4

Marketing Summary Chapter 4

Marketing chapter 4 - Marketing Research: Gather, Analyze & Use Infrmatin Marketing Ethics: taking an ethical & abve-bard apprach t cnducting marketing research that des n harm t the participant in the prcess f cnducting research. Marketing Infrmatin System: a prcess that first determines what infrmatin marketing managers need & then gathers, srt, analyzes, and distributes relevant & timely marketing infrmatin t system users. 3 imprtant cmpnents f MIS: 4 types f data (internal cmpany data, marketing intelligence, marketing research, acquired databases) Cmputer hardware & sftware t analyze the data & create reprts Output fr marketing decisin makers 4 different data surces fr MIS: 1. Internal Cmpany Data: uses infrmatin frm within the rganizatin t prduce reprts n the results f sales & marketing activities. Intranet : an internal crprate cmmunicatin netwrk that uses internet technlgy t link cmpany departments, emplyees & databases 2. Marketing Intelligence-> have infrmatin abut marketing envirnment Marketing Intelligence System: a methd by which marketers get infrmatin abut everyday happenings in the marketing envirnment 3. Marketing Research: the prcess f cllecting, analyzing, & interpreting data abut cnsumers, cmpetitrs, & the business envirnment in rder t imprve marketing effectiveness.

Syndicated Research: research by firms, that cllect data n a regular basis & sell the reprts t multiple firms Custm Research: research cnducted fr a single firm t prvide specific infrmatin its managers need 4. Acquired Databases -> acquire external databases that can be useful in marketing decisin making The Marketing Decisin Supprt System (MDSS): The data, analysis sftware, & interactive sftware that allw managers t cnduct analyses & find the infrmatin they need. Statistical sftware allws manager t examine cmplex relatinships amng factrs in the marketplace Mdeling sftware allws decisin makers t examine pssible / precnceived ideas abut relatinships in the data. Data Mining: sphisticated analysis techniques t take advantage f the massive amunt f transactin infrmatin nw available Data mining has 4 imprtant applicatins fr marketers: 1. Custmer acquisitin: include demgraphic & ther infrmatin abut custmers in their database 2. Custmer Retentin & lyalty: the firm identifies big spending custmers and then targets them fr special ffers & inducements ther custmers wn t receive.

3. Custmer Abandnment: identify custmers as the gd, the bad, & the ugly 4. Market Basket Analysis: develps fcused prmtinal strategies based n the recrds f which custmers have bught certain prducts. Steps in Marketing Research Prcess 1. Define the research prblems Specify the research bjects Identify the cnsumer ppulatin f interest Place the prblem in an envirnmental cntext 2. Determine the research design a plan that specifies what infrmatin marketers will cllect & what type f study they ll d Determine whether secndary data are available Determine whether primary data are required Explratry Research Descriptive Research Causal Research Secndary Data: Data that have been cllected fr sme purpse ther than the prblem at hand Primary Data: data frm research cnducted t help make a specific decisin Explratry Research: a technique that marketers use t generate insights fr future, mre rigrus studies Fcus Grup: a prduct-riented discussin amng a small grup f cnsumers led by a trained mderatr Case Study: a cmprehensive examinatin f a particular firm r rganizatin Ethngraphy: an apprach t research based n bservatins f peple in their wn hmes r cmmunities Descriptive/Quantitative Research: a tl that prbes mre systematically int the prblems & bases its cnclusins n large number f bservatins

Crss-sectinal design: a type f descriptive technique that invlves the systematic cllectin f quantitative infrmatin Lngitudinal design: a technique that tracks the respnses f the same sample f respndents ver time. Causal Research: a technique that attempts t understand cause-and-effect relatinships Experiments: a technique that tests predicted relatinships amng variables in a cntrlled envirnment 3. Chse the methd t cllect primary data Survey methds Questinnaires Telemarketing: the use f telephne t sell directly t cnsumers & business custmers. Mall-intercept: a study in which researchers recruit shppers in malls r ther public areas. Observatinal Methds Unbtrusive measures: measuring traces f physical evidence that remain after sme actin has been taken. Online research Predictive Technlgy: analysis techniques that use shpping patterns f large numbers f peple t determine which prducts are likely t be purchased if thers are. Privacy rights prpnents advcate the fllwing guiding principles: Infrmatin abut a cnsumer belngs t the cnsumer. Cnsumers shuld be made aware f infrmatin cllectin. Cnsumers shuld knw hw infrmatin abut them will be used. Cnsumers shuld be able t refuse t allw infrmatin cllectin. Infrmatin abut a cnsumer shuld never be sld/given t anther party withut the permissin f the cnsumer.

Data Quality Validity: the extent t which research actually measures what it was intended t measure. Reliability: the extent t which research measurement techniques are free f errrs. Representativeness: the extent t which cnsumers in a study are similar t a larger grup in which the rganizatin has an interest 4. Design the sample Sampling: the prcess f selecting respndents fr a study 2 main types f samples: 1. Prbability sampling: a sample in which member f the ppulatin has sme knwn chance f being included 2. Nnprbability sampling: a sample in which persnal judgment is used t select respndents

- Cnvenience sample: a nnprbability sample cmpsed f individuals wh just happen t be available when & where the data are being cllected 5. Cllect the data Translate questinnaires & respnses if necessary Cmbine data frm multiple surces (if available) 6. Analyze & interpret the data Tabulate & crss-tabulate the data Interpret/draw cnclusins frm the results 7. Prepare the research reprt The research reprt includes these: An executive summary A descriptin f the research methds A discussin f the results f the study Limitatin f the study Cnclusins & recmmendatins