Chapter 4:Managing marketing information to gain customer insights

Marketing information system (MIS)

Assessing marketing information needs

provide information for

marketing

others manager

external suppliers

suppliers

resellers

marketing service agencies

Characteristics of Good MIS

MIS offerings (50%)

user's Needs (50%)

Developing marketing information

Internal Data

Marketing intelligence

Marketing 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

Defining the problem and Research Objective

Exploratory research

Descriptive research

Causal research

Developing the research plan

Outlines sources of existing data

Primary data

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

Secondary data

Advantages

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

Disadvantages:

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

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

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

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

Sampling plans

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

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

Research instruments

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

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

Written research plan

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

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

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

Distributing and Using Marketing Information

Intranet:
provides information to
employees and other
stakeholders

Extranet:
provides information to
key customers and
suppliers

Customer insight

Fresh and deep

Difficult to obtain

Better information and effective existing information

Formed by company to

Include functional areas

Collect information

Create value for customer

Other marketing information and considerations

Marketing Research in Small Businesses
and Nonprofit Organizations

International Market Research

Public Policy and Ethnics

Customer privacy

Misuse of research findings