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MARKETING CHAP 9

Terms in this set (37)

LO 1 HOW DO MARKETERS USE INFORMATION SYSTEMS TO CREATE GREATER VALUE FOR CUSTOMERS?
* They use information from sources both internal and external to the organization, which then makes that information available to managers.
* Information systems enable firms to better understand what customers want through analyzing their purchases.
* They can use that information in purchasing and promotion programs tailored to customers.
Marketing Research
A set of techiniques and principles for systematically collecting, recording, analyzing, and interpreting data that can aid decision makers involved in marketing goods, services, or ideas.
(MkIS) Marketing Information System
A set of procedures and methods that apply to the regular, planned collection, analysis, and presentation of information that then may be used in marketing decisions.
Data Warehouses
Large computer files that store millions and even billions of pieces of individual data.
Data Mining
The use of a variety of statistical analysis tools to uncover previously unknown patterns in the data stored in databases or relationships among variables.
LO 2 Can certain marketing research practices cause a firm to encounter ethical problems?
* Firms should never misrepresnt the purpose of a study.
* They should ensure confidentiallity of the data they collect and the privacy of study patricipants.
* The results of a research study should be reported fully.
LO 3 What are the necessary steps to conduct marketing research?
* Define the objectives and research needs.
* Design the research project, identify the type of data that are needed, and determine how to collect that data.
* Decide on the data collection process, and collect the data.
* Analyze and interpret the data.
* Prepare the findings for presentation
STEP 1: DEFINING THE OBJECTIVES AND RESEARCH NEEDS
* IT IS IMPORTANT TO ESTABLISH IN ADVANCE EXACTLY WHAT INFORMATION IS REQUIRED TO ANSWER SPECIFIC RESEARCH QUESTIONS AND HOW THAT INFORMATION SHOULD BE OBTAINED.
* Reseacher can always design a more espensive study and eke out more and better information, but in the end, they should choose the method that will provide them with the information they need at the lowest cost.
Step 2: Design the research project.
* 0
LO 4 What are primary and secondary data, and when should each be used?
* Primary data are pieces of data collected through observation, focus groups, interviews, surveys, or experiments
* Secondary data are pieces of information that have been collected from other souces
* Primary data should be used to address specific research needs.
* Secondary data should be used as background for what information is already known ande what research has been done previously
Secondary Data
Pieces of information that have already been collected from other sources and usually are readily available.
Syndicated Data
Data available for a fee from commercial research firms such as Information Resources Inc. (IRI), National Purchase Diary Pannel, and ACNielsen.
Primary data
Data collected to address specific research needs.
Step 3: Data Collection Process
Data collection begins only after the reaserch design process. Depending on the nature of the research problem, the collection can employ either exploratory or conclusive research.
Exploratory Research
Attempts to begin to understand the phenomenon of interest; also provides initial information when the problem lacks any clear definition.
Exploratory Research Methods
* Observation
* In-Depth Interview
* Focus Group Interviews
* Projective Technique
Observation
An exploratory reseach method that entails examining purchase and consumption behaviors through personal or through personal or video camera scrutiny.
In-Depth Interview
An exploratory research technique in which trained researchers ask questoins, listen to and record the answers, and then pose additional questions to clarify or expand on a particular issue.
Focus Group Interview
A research technique in which a small group of persons (usually 8 to 12) come together for an intensive discussion about a particular topic, with the conversation guided by a trained moderator using an unstructured method of inquiry.
Projective Technique
A type of qualitative research in which subjects are provided a scenario and asked to express their thoughs and feelings about it.
Conclusive Research Methods
* Survey( Questionnaire with Structured or Unstructured Questions)
* Experimental
* Scanner
* Panel
Conclusive Research
Provides the information needed to confirm preliminary insights, which managers can use to pursue appropriate coures of action.
Survey
A systematic means of collecting information from people that generally uses a questionnaire.
Questionnaire
A form that features a set of questions designed to gather information from respondents and thereby accomplosh the researchers' objectives; questions can be either unstructured or structured
Unstructured Questions
Open-Ended questions that allow respondents to answer in their own words
Stuctured Questions
Closed-Ended questions for which a discrete set of responses, alternatives, or specific answers, is provided for respondents th evaluate.
Experimental Research
A type of quantitative research that systematically manipulates one or more variables to determine which variable has a causual effect on another variable
Scanner Research
A type of quantitive research that uses data obtained from scanner readings of UPC codes at checkout counters.
Panel Research
A type of quantitative research that involves collecting information from a group of consumers (the panel) over time; data collected may be from a survey or a record of purchases.
Step 4 Analyzing Data
Analizing and interpreting the data should be both thorough and methodical. To generate meaningful information, researchers analyze and make use of the collected data. The purpose of converting data to information is to describe, explain, predict, and/or evaluate a particular situation.
Data
Raw numbers or facts
Information
Organized, analyzed, interpreted data that offers value to marketers.
CHURN
THE NUMBER OF CONSUMERS WHO STOP USING A PRODUCT OR SERVICE, DIVIDED BY THE AVERAGE NUMBER OF CONSUMERS OF THAT PRODUCT OR SERVICE.
What are the steps in the marketing research process?
1. Define objectives and research needs
2. Designing the research project
3. Deciding on the data collection process and collecting the data
4. Analyze and interpret the data
5. Prepare the findings for presentation
What is the difference between primary and secondary research?
Secondary data are pieces of information that have been collected from other sources.
Primary data are collected to address specific research needs, usually through observation, focus groups, interviews, survey, and experiments
What is the difference between exploratory and conclusive research?
* Exploratory research attempts to understand the phenominon of intrest; it also provides initial information when the problem lacks clear definition.
* Conclusive research provides the information needed to confirm exploratory research insights and which managers can use to pursue appropriate courses of action.
What are some commonly used survey based metrics?
* Attitudes
* Perceived quality
* Value
* Willingness to buy
* Perceptions(e.g., quality and value)
* Loyalty(e.g., purchase intentions)
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