chapter 3: marketing intelligence copyright © 2010 pearson education canada1
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Chapter 3: Marketing Intelligence
Copyright © 2010 Pearson Education Canada 1
Chapter 3: Marketing Intelligence
Copyright © 2010 Pearson Education Canada
Marketing Research
2
Marketing research serves many roles. It can:
1. Link companies with customers via information
2. Help define problems and opportunities
3. Generate, refine and evaluate marketing actions
4. Help monitor performance
Information is power. Power used wisely produces profit!
Chapter 3: Marketing Intelligence
Copyright © 2010 Pearson Education Canada
Scope of Marketing Research
3
Organizations tend to focus on three primary areas when conducting marketing research.
MarketAnalysis
Product Research
Consumer Analysis
Information about the marketplace
Information about how people perceive products
Information about the needs and motivations of consumers
Chapter 3: Marketing Intelligence
Copyright © 2010 Pearson Education Canada
Collecting Information
4
Information is collected in a scientific manner. Procedures are implemented to ensure the information is reliable and valid
Reliability
Validity
Information is reliable if another study under similar conditions gives similar results.
When research method actually measures what is intended to measure.
Chapter 3: Marketing Intelligence
Copyright © 2010 Pearson Education Canada
Marketing Research Process
5
1. ProblemAwareness
2. ExploratoryResearch
3. Primary Research
4. Data Transfer& Processing
5. Data Analysis& Interpretation
6. Recommendationsand Implementation
Chapter 3: Marketing Intelligence
Copyright © 2010 Pearson Education Canada
Problem Awareness
6
The problem at hand must be clearly distinguished from symptoms. A drop in sales or market share is a not a problem. They are symptoms that make marketers aware there is a deeper problem.
1. The problem must be precisely defined.
2. A typical research study will address a specific decision that must be made.
3. Exploratory research helps to define the problem.
Chapter 3: Marketing Intelligence
Copyright © 2010 Pearson Education Canada
Exploratory Research
7
When doing exploratory research a manger is actually conducting an investigation in an informal manner.
1. The situation is divided into manageable variables to narrow down the field of investigation, a process called funneling.
2. Funneling is accomplished through situation analysis; a procedure calling for consultation with internal an external experts and from secondary sources.
Chapter 3: Marketing Intelligence
Copyright © 2010 Pearson Education Canada
Secondary Data
8
Data compiled and published for purposes unrelated to the specific problem under investigation, yet may have some impact on resolving the problem.
1. Internal Data Sources
2. External Data Sources
Chapter 3: Marketing Intelligence
Copyright © 2010 Pearson Education Canada
Secondary Data
9
Advantages
1.Inexpensive
2.Readily available
3.Useful in exploratory stage
Disadvantages
1.Reliability questionable
2.Outdated
3.Unlikely to resolve problem
Chapter 3: Marketing Intelligence
Copyright © 2010 Pearson Education Canada
Primary Research
10
The collecting and recording of new data, called primary data, in order to resolve a specific problem, usually at high cost to the organization.
Chapter 3: Marketing Intelligence
Copyright © 2010 Pearson Education Canada
Primary Research Steps
11
ProblemDefinition
Objectives and Hypotheses
• What to achieve• Predicted outcomes
Sample Design• Who?• How many?• What procedure?
Data Collection• Survey, observation or experiment• Qualitative or quantitative• Methodology
Chapter 3: Marketing Intelligence
Copyright © 2010 Pearson Education Canada
Sample Design
12
A representative sample is essential in order to produce valid and reliable data.
Steps:
1.Define Population
2.Identify Sampling Frame
3.Determine Type of Sample
4.Determine Sample Size
Chapter 3: Marketing Intelligence
Copyright © 2010 Pearson Education Canada
Data Collection Methods
13
Survey
Observation
Experiment
Structured questionnaires with fixed-response answers.
By personal or electronic means.
Simulated test situations or test markets.
Chapter 3: Marketing Intelligence
Copyright © 2010 Pearson Education Canada
Qualitative Data
14
Data collected from small samples in a controlled environment (e.g., a focus group- is a small group of people 8to 10).
“Focus” implies the discussion concentrates on one topic or concept. Interviews reveal “attitudes” held by consumers.
Focus groups can now be held online; an environment where control is in the hands of the participant.
Chapter 3: Marketing Intelligence
Copyright © 2010 Pearson Education Canada
Quantitative Data
15
Data collected from large samples. Analysis and interpretation rely on numbers and percentages obtained from data collected from a structured questionnaire.
The feelings, attitudes, and opinions obtained from focus groups are quantified.
Chapter 3: Marketing Intelligence
Copyright © 2010 Pearson Education Canada
Survey Methodology
16
PersonalInterview
Telephone
Online
Which option to use depends on:
1.Nature of information sought
2.Cost and time constraints
3.Location of respondent
See Fig3.11 page 77 for more
Chapter 3: Marketing Intelligence
Copyright © 2010 Pearson Education Canada
Data Transfer and Processing
17
Editing
Reviewing questions for consistency, completeness, and authenticity.
Data Transfer
Transferring pre-coded responses to a computer. Direct electronic transfer is now common.
Tabulation
Counting responses to arrive at a frequency distribution and cross-tabulation by various sub-groups.
Chapter 3: Marketing Intelligence
Copyright © 2010 Pearson Education Canada
Data Analysis & Interpretation
18
DataAnalysis
Interpretation
An evaluation of each question to record observations.
An assessment of accumulated data in relation to the problem, objectives, and hypotheses of the study.
Chapter 3: Marketing Intelligence
Copyright © 2010 Pearson Education Canada
Managing Information
19
Sophisticated software technologies facilitate the collection and management of information.
A procedure known as data mining provides a means to uncover information about customers that should produce more effective marketing strategies. The goal is to maximize the value of a customer though additional purchases of a product or through complementary purchases of related products.
Chapter 3: Marketing Intelligence
Copyright © 2010 Pearson Education Canada
Database Management System
20
External Information
• Consumer• Market• Competitor• Economy• Social• Technology• Online Data
InternalInformation
• Sales• Costs• Profit• Budgets• Inventory• Production
Database
MarketingAnalysis
MarketingPlan
Evaluation and Control
Chapter 3: Marketing Intelligence
Copyright © 2010 Pearson Education Canada
CRM Model
21
External Data
InternalData
Database
DataAnalysis
Marketing Strategy
CustomerRetention
Customer Acquisition
Customer Extension
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