Chapter(5:(Marketing(Research(and(Information(Systems(• Marketing*research*is*the*systematic*design,*collection,*interpretation,*and*reporting*of*information*to*help*marketers*solve*specific*marketing*problems*or*take*advantage*of*marketing*opportunities.*o Process*of*gathering*information*that*is*not*currently*available*• Marketers*approach*marketing*research*with*a*logical*process:*o 1)*locating*and*defining*problems/*issues,*2)*designing*the*research*project,*3)*collecting*data,*4)*interpreting*research*findings,*5)*reporting*research*findings*o Locating/defining*an*issue*focuses*on*uncoverin g *the*nature*and*boundaries*of*a*situation*or*question*related*to*marketing*strategy*or*implementationG*first*sign*of*a*problem*is*the*failure*to*obtain*an*objective*(declining*sales,*increasing*expenses,*decreasing*profit)* Customer*Relationship*Management*(CRM)*is*based*on*analysis*of*existing*customersG*firm*often*defines*a*problem*by*finding*a*new*way*to*adjust*for*biases*stemming*from*existing*customers*o Create*a*research*design*is*an*overall*plan*for*obtaining*the*info*needed*to*address*the*issue* Formulate*a*hypothesis*o Markets*can*conduct*exploratory*or*conclusive*research*which*differ*in*their*formalization*and*flexibility*rather*than*the*specific*research*method*used* Exploratory*research*is*conducted*to*gather*more*information*about*a*problem*or*to*make*a*tentative*hypothesis*more*specificG*used*to*better*understand*a*problem*and*to*identify*decision*alternatives* Conclusive*Research*is*designed*to*verify*insights*t hrough*objective*procedures*and*to*help*marketers*in*making*decisionsG*used*when*marketers*have*one*or*more*alternatives*in*mind*and*needs*assistance*in*the*final*stages*of*decision*making*• Descriptive*researchG*research*conducted*to*clarify*the*characteristics*of*certain*phenomena*to*solve*a*problem*o Range*from*general*surveys*of*customers*educations,*occupations,*to*specifics*on*how*often*they*consume*a*sports*drink*o Experimental*research*allows*marketers*to*make*casual*inferences*about*relationshipsG*independent*and*dependent*variablesG*can*provide*stronger*evidence*of*cause*an*effect*• A*research*technique*must*be*reliable*and*valid*o Reliability*exists*when*a*research*technique*produces*almost*identical*results*in*different*trials*o Validity*exists*when*a*research*method*measures*what*is*supposed*to*be*measured*o Primary*Data*collected*is*data*observed*and*recorded*or*collected*directly*from*respondents* To*collect*primary*data,*researchers*use*sampling*methods,*surveys,*and*observations*and*it*is*very*costly* Sampling*in*marketing*research*is*the*process*of*selecting*representative*units*from*a*total*population* Probability*samplingG*every*element*in*the*population*being*studied*has*a*known*chance*of*being*selected*for*study* Random*samplingG*all*units*in*a*population*have*equal*chance*of*appearing*in*the*sample* Stratified*samplingG*the*population*of*interest*is*divided*into*groups*according*to*a*common*attribute,*and*a*random*sample*is*chosen*in*each*group*o Secondary*data*is*compiled*both*inside*and*outside*the*organization*for*some*purpose*other*than*the*current*investigationG*general*reports,*sales*records,*sale*patterns,*accou n ting*records,** Competitive*information*from*sales*force*is*important*o No*probability*samplingG*subjective*and*has*no*way*to*calculate*the*likelihood*that*a*specific*element*of*the*population*will*be*chosen*o Quota*SamplingG*researchers*divide*the*population*into*groups*and*then*arbitrarily*chose*participants*from*each*group*o Crowd*sourcing*combines*the*words*crowd*and*outsourcing*and*calls*for*taking*tasks*usually*performed*by*a*marketer*and*outsourcing*them*to*a*crowdG*Facebook*pages*o Focus*group*interview*is*used*to*observe*group* in teractions*when*members*are*exposed*to*an*idea*or*conceptG*conducted*informally*with*out*a*structured*questionnaire*in*small*groups*of*8G12*• Questions*must*be*clear,*easy*to*understand,*and*directed*towards*specific*objectives*on*a*questionnaire*o Researchers*need*to*define*an*objective*before*trying*to*develop*a*questionnaire*• Interpreting*Research*Findings:*tabulate*data,*find*a*statistical*interpretation*• Marketing*Information*System*(MIS)*is*a*framework*for*the*day*to*day*management*and*structuring*of*information*gathered*regularly*from*sources*both*inside*and*outside*the*organizationG*cont*info*about*prices,*expenses,*sales*o Main*focus*is*on*data*storage*and*retrievalG*starts*by*identifying*decision*needs*that*require*certain*information*and*then*the*firm*can*monitor*that*information**o Most*MIS*have*databases*that*allow*them*to*get*company*records**o CRM*incorporates:*building*a*database*of*current / potential*customers,*delivering*messages*to*customers,*tracking*customer*relationships*o Helps*reactivate*inactive*customers,*remove*unprofitable*customers,*identify*active*customers*who*should*be*targeted*o Single*source*data*is*information*provided*by*a*single*firm*on*household*demographics,*purchases,*and*responses*• Marketing*decision*support*system*(MDSS)G*is*a*customized*computer*software*that*aids*marketing*managers*in*decision*making*by*helping*them*anticipate*the*effects*of*certain*decisions**o Help*predict*sales*forecasts,*effects*of*sales*• For*research*outside*the*USAG*first*phase*involves*a*detail ed* search*for*and*analysis*of*secondary*data*to*gain*a*grea t er*understanding*of*a*particular*marketing*environment.*Second*phase*involves*field*research*using*many*of*the*methods*for*obtaining*consumer*preferences.***Chapter(6)(• A*market*involves*people*who*have*the*needs,*ability,*willingness,*and*authority*to*purchase*a*product*• A*consumer*market*consists*of*purchasers*and*household*members*who*intend*to*consume*or*benefit*from*the*purchased*products*and*do*not*buy*products*to*make*a*profit*(B2C)*• Business*MarketG*individuals*or*groups*that*purchase*a*specific*kind*of*product*for*one*of*3*purchases:*resale,*direct*use*in*producing*other*products,*or*in*general*daily*operations*(B2B)*• Step*1)*Identify*the*appropriate*targeting*strategy*o Target*market*is*a*group*of*people/org*for*which*a*business*creates*and*maintains*a*marketing*mix*for*them**o Undifferentiated*targeting*strategyG*a*strategy*in*which*an*organization*designs*a*single*marketing*mix*and*directs*it*at*the*entire*market*for*a*particular*product*
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