Chapter 4:Managing marketing information to gain customer insights

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Chapter 4:Managing marketing information to gain customer insights

Other marketing information and considerations

Public Policy and Ethnics

Misuse of research findings

Customer privacy

International Market Research

Marketing Research in Small Businesses and Nonprofit Organizations

Customer insight

Formed by company to

Create value for customer

Collect information

Include functional areas

Better information and effective existing information

Difficult to obtain

Fresh and deep

Marketing information system (MIS)

Distributing and Using Marketing Information

Extranet: provides information to key customers and suppliers

Intranet: provides information to employees and other stakeholders

Analyzing and using marketing information

Customer Relationship Management(CRM)

Touch points: 1.Customer purchases 2.Sales force contacts 3.Service and support calls 4.Websites visits 5.Satisfaction surveys 6.Credit and payment interactions 7.Research studies

Developing marketing information

Marketing research

Implementing the research plan: 1.Collecting the information 2. Processing the information 3.Analyzing the information 4.Interpret findings 5.Draw conclusions 6.Report to management

Developing the research plan

Written research plan

Includes: 1.Management Problem 2.Research objectives 3.Information needed 4.How results will help managements decisions 5.Budget

Spells out the specific research approaches, contact methods, sampling plans, and instruments to gather data

Research instruments

Mechanical devices: 1.People meters 2.Checkout scanners 3.neuromarketing

Questionnaires: 1.Closed-end questions 2.Open-end questions

Sampling plans

Nonprobability Sample: 1.Convenience sample 2.Judgement sample 3.Quota sample

Probability Sample: 1.Simple random sample 2.Stratified random sample 3.Cluster (area) sample

Contact methods: 1.Mails 2.Telephones 3.Personal 4.Online 5. Focus group

Online contact methods: 1.Internet Surveys 2.Online Panels 3.Online Experimentals 4.Online Focus Group

Advantages: 1.Low Cost 2.Speed 3.Highher response rates 4.Good for hard to reach groups

Research approaches: 1.Observational research 2.Ethnographic research 3.Survey research 4.Experimental research

Outlines sources of existing data

Secondary data

Disadvantages:

1.Current 2.Relevant 3.Accuracy 4.Impartial

Advantages

1.Costs 2.Speed 3.Could not get data otherwise

Primary data

Planning Primary Data Collection: 1.Research approaches 2.Contact methods 3.Sampling plan 4.Research instruments

Defining the problem and Research Objective

Causal research

Descriptive research

Exploratory research

Process 1.Defining the problem and research objectives 2.Developing the research plan for collecting information 3.Implementing the research plan 4.Interpreting and reporting the findings

Marketing intelligence

Internal Data

Assessing marketing information needs

Characteristics of Good MIS

user's Needs (50%)

MIS offerings (50%)

provide information for

external suppliers

marketing service agencies

resellers

suppliers

others manager

marketing