Managing Marketing InformationObjectivesSlide 3PowerPoint PresentationMarketing Info. SystemSlide 6Slide 7Slide 8Slide 9Slide 10Slide 11Slide 12Slide 13Slide 14Slide 15Slide 16Slide 17Slide 18Slide 19Slide 20Slide 21Slide 22Slide 23Slide 24Slide 25Slide 26Slide 27BusinessNowSlide 29Slide 30Slide 31Slide 32Slide 33Slide 34Slide 35Slide 36Slide 37Slide 38Slide 39Slide 40Slide 41Slide 42Slide 43Slide 44Other ConsiderationsManaging Marketing Managing Marketing InformationInformationChapter 5Chapter 55- 2ObjectivesUnderstand the importance of Understand the importance of information to the company.information to the company.Know the definition of a marketing Know the definition of a marketing information system and be able to information system and be able to discuss its subparts.discuss its subparts.Learn the steps in the marketing Learn the steps in the marketing research process.research process.5- 3ObjectivesLearn how companies analyze and Learn how companies analyze and distribute marketing information.distribute marketing information.Realize the special issues some Realize the special issues some marketing researchers face, marketing researchers face, including public policy and ethical including public policy and ethical issues.issues.5- 4““New Coke” was a fiasco; New Coke” was a fiasco; consumer complaints consumer complaints resulted in the return of resulted in the return of “Coke Classic” after only “Coke Classic” after only 3 months.3 months.$4 million was spent $4 million was spent researching “New Coke”.researching “New Coke”.Key issue: the research Key issue: the research problem was too problem was too narrowly defined, and narrowly defined, and consumer feelings were consumer feelings were ignored.ignored.Poor judgment in Poor judgment in interpretation of results interpretation of results was also a problem.was also a problem.cCokeCoke5- 5Marketing Info. SystemMarketing Information System (MIS)Marketing Information System (MIS)Consists of people, equipment, and Consists of people, equipment, and procedures that gather, sort, procedures that gather, sort, analyze, evaluate, and distribute analyze, evaluate, and distribute needed, timely, and needed, timely, and accurate information accurate information to marketing to marketing decision makers.decision makers.5- 6Figure 5-1: The Marketing Information System5- 7Marketing Info. SystemAssessing Marketing Assessing Marketing Information NeedsInformation NeedsThe MIS serves The MIS serves company managers company managers as well as external as well as external partners.partners.5- 8Marketing Info. SystemAssessing Marketing Information Assessing Marketing Information NeedsNeedsThe MIS must balance The MIS must balance needs against feasibility:needs against feasibility: Not all information Not all information can be obtained. can be obtained. Obtaining, processing, Obtaining, processing, sorting, and delivering sorting, and delivering information is costly. information is costly.5- 9Marketing Info. SystemInternal Data is Internal Data is gathered via customer gathered via customer databases, financial databases, financial records, and records, and operations reports.operations reports.Advantages of internal Advantages of internal data include quick/easy data include quick/easy access to information.access to information.Disadvantages stem Disadvantages stem from incompleteness from incompleteness or inappropriateness or inappropriateness of data to a particular of data to a particular situation.situation.Internal dataInternal dataMarketing Marketing intelligenceintelligenceMarketing Marketing researchresearchDeveloping Developing InformationInformation5- 10Financial services provider USAA collects data from its customers, stores the data in a database, and uses the data to tailor ads and marketing offers to its customers.5- 11Marketing Info. SystemMarketing intelligenceMarketing intelligence is the systematic is the systematic collection and analysis collection and analysis of publicly available of publicly available information about information about competitors and trends competitors and trends in the marketing in the marketing environment.environment.Competitive Competitive intelligence gathering intelligence gathering activities have grown.activities have grown.Many sources of Many sources of competitive info. exist.competitive info. exist.Internal dataInternal dataMarketing Marketing intelligenceintelligenceMarketing Marketing researchresearchDeveloping Developing InformationInformation5- 12Marketing Info. SystemSources of Sources of Competitive IntelligenceCompetitive Intelligence Company Company employees employees InternetInternet GarbageGarbage Published Published information information Competitor’s Competitor’s employees employees Trade showsTrade shows BenchmarkingBenchmarking Channel members Channel members and key customers and key customers5- 13Marketing Info. SystemMarketing researchMarketing research is is the systematic design, the systematic design, collection, analysis, collection, analysis, and reporting of data and reporting of data relevant to a specific relevant to a specific marketing situation marketing situation facing an organization.facing an organization.Several steps are Several steps are involved in the involved in the marketing research marketing research process.process.Internal dataInternal dataMarketing Marketing intelligenceintelligenceMarketing Marketing researchresearchDeveloping Developing InformationInformation5- 14Figure 5-2: The Marketing Research Process5- 15Marketing Info. SystemStep 1:Step 1: Defining the problem and Defining the problem and research objectivesresearch objectivesDon’t confuse the symptoms Don’t confuse the symptoms of the problem with its cause of the problem with its cause when defining the problem.when defining the problem.Exploratory, descriptive, and Exploratory, descriptive, and causal research each fulfill causal research each fulfill different objectives.different objectives.5- 16Marketing Info. SystemStep 2:Step 2: Developing the Developing the Research PlanResearch PlanResearch Research objectives objectives guide the guide the determination determination of specific of specific information information needs.needs.5- 17Marketing Info. SystemStep 2:Step 2: Developing the Research Plan Developing the Research PlanResearch proposals outline the Research