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BUAD 332: Chapter 4
Companies need information about their: _ needs, _ environment, and _. CMC
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Customer needs
Marketing environment
Competition |
Marketing managers do not need _ _, they need _ _.
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More information
Better information |
Distribute marketing research informationto
_ _, 'anybody who has to make decisions', need information analyzedin such a way they can work with it and use it effectively to make goodmarketing decisions. |
ad agencies
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MIS
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marketing information system
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MIS consists of people, equipment, and _ to gather, sort, _, _, and _ needed, timely, and accurate information to marketing decision makers.
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procedures
analyze, evaluate, distribute |
MIS helps managers to
1. _ _ needs.
2. _ needed _
3. _ information |
assess information needs
2. develop needed information
3. distribute information |
A good MIS balances the information users would like against what they really need and whats _ to offer
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feasible |
Sometimes a company cannot provide the needed information because it is not available due to _ _
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MIS limitations
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MIS must decide whether the benefits of more information are...
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worth the costs
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Law of diminishing returns on information!
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as you increase / invest more the returns decline
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Electornic collections of information obtained from data sources within the company
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Internal databases - within company
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_ _: publicly available information about competitors, developments.. google, _ _ filed with SEC - isn't free.
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Marketing intelligence - annual reports
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_ _: systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation. Do a study to.... within your...
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Marketing research
To answer a specific question within your company |
Marketing research process (4 steps)
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1. what is it we need to know
2. procedure to gather / plan
3. collecting data
4. interpretation |
_ research: Gather preliminary information that will help define the problem and suggest hypotheses. Isn't designed to answer questions as much as it is designed to.... IE _ research.
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Exploratory research
designed to raise possible answers
observational research is an example |
_ _ - Describes things - market potential for a product, _, and _. _ are the most common method to obtain this.
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Descriptive research
Demographics / attitudes toward a product
Surveys |
Tests hypotheses about cause and effect relationships
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Causal research
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Developing the research plan: determining the exact information needed, making a plan to gather said information, presenting written plan to _.
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management |
Research plans outline:
sources of existing data - _ _
Specific research approaches - _, _, etc.
Contct methods - how to contact ppl
sampling plans - difference in poplation and _
instruments for data collection |
census data
survey, observational
sample |
Information that already exists somewhere; examples (3)
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secondary data:
1. internal databases
2. commercial data services
3. government sources |
Available more quickly and at a lower cost than primary data
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secondary data
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Secondary data must be _, _, current, and _
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relevant, accurate, current, impartial
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Neilson tv ratings
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commercial data services
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Must determine four thjings for primary data collection
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research approach, contact methods, sampling plan, research instruments
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Advantages of creating your own data? disadvantages?
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get exactly what you want
BUT its expensive and time consuming |
People meters and checkout scanners
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mechanical observation
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Observation in a natural environment
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Ethnographic research
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PPM |
measures how many people are listening or watching.
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Approach best suited for gathering descriptive information
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survey research
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Can gather information about people's knowledge, attitudes, preferences, and _ _
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buying behavior
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You can't observe _ _, so that's why surveys are useful.
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attitudes and preferences
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_ studies - how well did the product perform relative to one's epxectations
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satisfaction studies
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In experimental research you control _ factors
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unrelated factors - put them in a movie theater - time consuming / expensive
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Experimental research criteria (4)
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selected matched groups of subjects.
2. giving different treatments
3. controlling unrelated factors
4. checking differences in group responses |
Speed of data colelction and cost efficient?
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online info gathering
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Control of sample is _ online
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poor |
Control of sample is excellent on _
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telephone |
contact methods
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mail, telephone, personal, online
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3 DECISIONS FOR A SAMPLE
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Who, how many, how?
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_- measures any physiologicalarousal to certain things
_ _- the extent to which your looking at advertisers online
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Galvanometer
eye cameras |
Low profit customers receive.... Higher profitable get more....
This is what _ focuses on |
inexpensive attention
rewards, gifts
Customer relationship management |
_- available only internally to thecompany
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INtranets
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Information for special situations
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non routine
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Information for decision making
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routine |