Chapter 4 - Managing Marketing Information - PDF

Chapter 4 Managing Marketing Information to gain customer insights Copyright © 2009 Pearson Education, Inc. Chapter 16 - slide 1 Publishing as Prentice Hall  Outline Managing marketing i...

Chapter 4 Managing Marketing Information to gain customer insights Copyright © 2009 Pearson Education, Inc. Chapter 16 - slide 1 Publishing as Prentice Hall  Outline Managing marketing information Why Where (who) What How Chapter 4 - slide 2  WHY: Marketing Information and Customer Insights Companies need fresh and deep insights into customer needs and wants. But such information is difficult to obtain. – Not obvious – Customer sometimes unsure of their own behavior Companies always work on getting better information and more effective use of existing information. Chapter 4 - slide 3  Marketing Information Systems (MIS) Marketing information system (MIS) consists of people and procedures for: – assessing the information needs – developing needed information – helping decision makers use the information for customer/market insights. Chapter 4 - slide 4 Marketing Information System Chapter 4 - slide 5 Time to think Let’s think about the characteristics of a good MIS. Is it “the more information, the better”? Why? Chapter 4 - slide 6  What can these two universities do to attract more top high school graduates? Do they need to collect data from every Chinese high school? More vs better information for decision-making Chapter 4 - slide 7  Assessing Marketing Information Needs Characteristics of a Good MIS Balancing what the information users would like to have against what they need and what is feasible to offer。 User’s Needs (more information) MIS Offerings (better & what’s feasible) Chapter 4 - slide 8 WHERE to Develop Marketing Information Marketers obtain information from Internal database Competitive Marketing intelligence Marketing research Chapter 4 - slide 9 WHERE: Developing Marketing Information (1) Internal Databases: – Electronic collections of consumer and market information obtained from data sources within the company network. – More important for some companies then the others. Do you have examples? E.g., Computerized reservation and record keeping systems allow hotel chains to track smoking and bed size preferences of guests. Chapter 4 - slide 10 Chapter 4 - slide 11  WHERE: Developing Marketing Information (2) Marketing Intelligence : – Systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketing environment. Chapter 4 - slide 12 Chapter 4 - slide 13 P&G in 1997 Chapter 4 - slide 14  Time to think Can you think of a few examples of the “publicly available information ” that can help companies to make better business/marketing decisions? (For example, on social media websites?) Chapter 4 - slide 15 双十一 Chapter 4 - slide 16  WHERE: Developing Marketing Information (3) Marketing Research: Systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization. Chapter 4 - slide 17  Developing Marketing Information Marketing Research Written Research Plan Includes: Management problem (To be continued in the HOW discussion later.) Research objectives Information needed How the results will help management decisions Chapter 4 - slide 18 Copyright ©2014 by Pearson Education  WHAT Marketing Information to develop? Secondary data consists of information that already exists somewhere, having been collected for another purpose. Primary data consists of information gathered for the special research plan. Chapter 4 - slide 19 Copyright ©2014 by Pearson Education WHAT: Secondary Data (1) Information that already exists somewhere which has been collected for another purpose. ⚫ Common sources of secondary data: Internal databases (as mentioned previously) Commercial data services Government sources Chapter 4 - slide 20  Marketing in Action Commercial Database Services Commercial database services such as Simmons offer an incredible wealth of information to firms. Visit their Web site at www.smrb.com to learn more. Chapter 4 - slide 21  Secondary Data Advantages Disadvantages Cost Current Speed Relevant Could not get Accuracy data otherwise Impartial Chapter 4 - slide 22  Secondary Data Advantages: Disadvantages: – Available more – Needed information quickly and at a may not exist as lower cost than secondary data. primary data. – Secondary data must – Can sometimes be carefully lead to evaluated for information that relevancy, accuracy, an individual firm currency, and could not gather impartiality. itself. Chapter 4 - slide 23  WHAT: Primary Data (2) Consists of information collected for the specific purpose at hand. Primary data must be relevant, accurate, current, and unbiased. Chapter 4 - slide 24 HOW: Developing Marketing Information Steps in the Marketing Research Process Chapter 4 - slide 25 HOW: Developing Marketing Information Marketing Research Planning Primary Data Collection Research approaches Contact methods Sampling plan Research instruments Chapter 4 - slide 26  HOW: Primary Data Collection Primary data collection decisions: – Research approach: Observation, survey, or experiment – Contact methods: Mail, telephone, personal, or online – Sampling plan: Sampling unit, sample size, and sampling procedure – Research instruments: Questionnaire, mechanical instruments (e.g., checkout scanner), etc. Chapter 4 - slide 27 Developing Marketing Information Strengths and Weakness of Contact Methods Mail Telephone Personal Online Flexibility Poor Good Excellent Good Quantity of data Good Fair Excellent Good collected Control of Excellent Fair Poor Fair interviewer effects Control of Fair Excellent Good Excellent sample Speed of data Poor Excellent Good Excellent collection Response rate Poor Poor Good Good Cost Good Fair Poor Excellent Chapter 4 - slide 28 Developing Marketing Information Market Research Research Approaches Survey is a widely used method and is best for descriptive information—knowledge, attitudes, preferences, and buying behavior. Flexible, but People are unable or unwilling to give answers. People give misleading or pleasing answers. Chapter 4 - slide 29 Developing Marketing Information: Questionnaires ✓ Most common: cost-effective ✓ Flexible: administered in person, by phone, or online open/closed-end questions ✓ Have limitations. Therefore, researchers must be careful with the design of questionnaires (e.g., wording and ordering of questions) simple, direct, unbiased Chapter 4 - slide 30  biased vs. unbiased For examples: ⚫Will there be any translation errors? ⚫Are you looking for intended answers? national service in the UK. ⚫ solution : pilot Chapter 4 - slide 31  Public policy and ethics issues Misuse of research findings Intrusion on consumer privacy Chapter 4 - slide 32 How Google, Apple, Facebook and Others Use Your Personal Data "Every breath you take, every move you make, I'll be watching you." The famous 1980's song by The Police might as well be the mantra for major tech companies today. When you log onto the internet, click on a website or search a word, tech behemoths including Google, Apple, Amazon, Facebook and Yahoo are watching. They track your preferences, collect information about your online habits and develop a profile of you. from http://www.entrepreneur.com/article/227248 Chapter 4 - slide 33  Summary Managing marketing information Why Where (who) What How Chapter 4 - slide 34  Topic: A study on how to enhance customer satisfaction in BFSU canteens Abstract ： Canteens are important to a university. Well-managed canteens will contribute not just to student health, creating a nice overall learning environment for the students, but to the smooth running of the university as well since complaints about school canteens is certainly an indicator of the incompetence of the school authorities. Therefore, this study intends to research into customer needs and customer satisfaction with regard to BFSU canteens from the perspective of students in the attempt to improve their service based on the research finding. Chapter 4 - slide 35  Time to think What data does the author need? What research approach do you recommend? What contact methods? Chapter 4 - slide 36