Principles Of Marketing PowerPoint Presentation PDF

Principles of Marketing Kotler and Armstrong Chapter 4: Insert Managing Textbook Marketing Cover Image Information to Gain Customer...

Principles of Marketing Kotler and Armstrong Chapter 4: Insert Managing Textbook Marketing Cover Image Information to Gain Customer Insights Copyright © 2016 Pearson Education, 4-1 Inc. Marketing Information and Customer Insights Copyright © 2016 Pearson Education, Inc. 4-2  Managing Marketing Information to Gain Customer Insights Learning Objectives Objective 1: Explain the importance of information in gaining insights about the marketplace and customers. Objective 2: Define the marketing information system and discuss its parts. Objective 3: Outline the steps in the marketing research process. Copyright © 2016 Pearson Education, Inc. 4-3  Managing Marketing Information to Gain Customer Insights Learning Objectives Objective 4: Explain how companies analyze and use marketing information. Objective 5: Discuss the special issues some marketing researchers face, including public policy and ethics issues. Copyright © 2016 Pearson Education, Inc. 4-4  Managing Marketing Information to Gain Customer Insights Learning Objective 1 Explain the importance of information in gaining insights about the marketplace and customers. Marketing Information and Customer Insights Copyright © 2016 Pearson Education, Inc. 4-5 Marketing Information and Customer Insights Customer insights are fresh marketing information- based understandings of customers and the marketplace that become the basis for Copyright © 2016Inc.Pearson Education, 4-6  Marketing Information and Customer Insights Customer insights Fresh and deep insights into customer needs and wants Important but difficult to obtain Needs and buying motives not obvious Customers usually can’t tell you what and why Better information and more effective use of existing information Copyright © 2016 Pearson Education, Inc. 4-7 Marketing Information and Customer Insights Managing Marketing Information Companies are forming customer insights teams Include all company functional areas Collect information from a wide variety of sources Use insights to create more value for their customers Copyright © 2016 Pearson Education, Inc. 4-8  Marketing Information and Customer Insights Managing Marketing Information Marketing information system (MIS) refers to the people and procedures dedicated to assessing information needs, developing the needed information, and helping decision makers to use the information to generate and validate actionable customer and market insights. Copyright © 2016 Pearson Education, Inc. 4-9 eting Information and Customer Insi Managing Marketing Information FIGURE | 4.1 The Marketing Information System Copyright © 2016 Pearson Education, Inc. 4-10  Managing Marketing Information to Gain Customer Insights Learning Objective 1 Explain the importance of information in gaining insights about the marketplace and customers. Marketing Information and Customer Insights Copyright © 2016 Pearson Education, Inc. 4-11  Managing Marketing Information to Gain Customer Insights Learning Objective 2 Define the marketing information system and discuss its parts. Assessing Marketing Information Needs Developing Marketing Information Copyright © 2016 Pearson Education, Inc. 4-12  Assessing Marketing Information Needs A marketing information system (MIS) provides information to the company’s marketing and other managers and external partners such as suppliers, resellers, and marketing service agencies. Copyright © 2016 Pearson Education, Inc. 4-13  Assessing Marketing Information Needs Characteristics of a Good MIS Balancing the information users would like to have against what they need and what is feasible to offer User’s Needs MIS Offerings Copyright © 2016 Pearson Education, Inc. 4-14 Developing Marketing Information Marketers obtain information from Internal data Marketing intelligence Marketing research Copyright © 2016 Pearson Education, Inc. 4-15  Developing Marketing Information Internal Data Internal databases are collections of consumer and market information obtained from data sources within the company network. Copyright © 2016 Pearson Education, Inc. 4-16  Developing Marketing Information Competitive Marketing Intelligence Competitive marketing intelligence is the systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketing environment. Copyright © 2016 Pearson Education, Inc. 4-17  Managing Marketing Information to Gain Customer Insights Learning Objective 2 Define the marketing information system and discuss its parts. Assessing Marketing Information Needs Developing Marketing Information Internal Data Competitive Marketing Intelligence Copyright © 2016 Pearson Education, Inc. 4--18  Managing Marketing Information to Gain Customer Insights Learning Objective 3 Outline the steps in the marketing research process. Marketing Research Copyright © 2016 Pearson Education, Inc. 4-19  Marketing Research Marketing research is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization. Copyright © 2016 Pearson Education, Inc. 4-20  Marketing Research Steps in the Marketing Research FIGURE | 4.2 The Marketing Research Process Process Copyright © 2016 Pearson Education, Inc. 4-21  Marketing Research Defining the Problem and Research Objectives Exploratory research Descriptive research Causal research Copyright © 2016 Pearson Education, Inc. 4-22  Marketing Research Developing the Research Plan Outlines sources of existing data Spells out the specific research approaches, contact methods, sampling plans, and instruments to gather data Copyright © 2016 Pearson Education, Inc. 4-23 Marketing Research Developing the Research Plan Management problem Research objectives Information needed How the results will help management decisions Budget Copyright © 2016 Pearson Education, Inc. 4-24  Marketing Research Developing the Research Plan Secondary data is information that already exists somewhere, having been collected for another purpose. Primary data is information collected for the specific purpose at hand. Copyright © 2016 Pearson Education, Inc. 4-25  Marketing Research Gathering Secondary Data Advantages Lower cost Obtained quickly Cannot collect otherwise Copyright © 2016 Pearson Education, Inc. 4-26  Marketing Research Primary Data Collection Research Approaches Contact Methods Sampling Plan Research Instrument s Copyright © 2016 Pearson Education, Inc. 4-27 Marketing Research Primary Data Collection Copyright © 2016 Pearson Education, Inc. 4-28  Marketing Research Primary Data Collection Research Approaches Observational research involves gathering primary data by observing relevant people, actions, and situations. Ethnographic research involves sending trained observers to watch and interact with consumers in their “natural environments.” Copyright © 2016 Pearson Education, Inc. 4-29  Marketing Research Primary Data Collection Research Approaches Survey research involves gathering primary data by asking people questions about their knowledge, attitudes, preferences, and buying behavior. Experimental research involves gathering primary data by selecting matched groups of subjects, giving them different treatments, controlling related factors, and checking for differences in Copyright © 2016 Pearson Education, Inc. 4-30  Marketing PrimaryResearch Data Collection Table 4.2 | Strengths and Weakness of Contact Methods Mail Telephone Personal Online Flexibility Poor Good Excellent Good Quantity of data that Good Fair Excellent Good can be collected Control of Excellent Fair Poor Fair interviewer effects Control of sample Fair Excellent Good Excellent Speed of data Poor Excellent Good Excellent collection Response rate Poor Poor Good Good Cost Good Fair Poor Excellent Copyright © 2016 Pearson Education, Inc. 4-31  Marketing PrimaryResearch Data Collection Focus Group – Personal Contact Method Six to 10 people Trained moderator Challenges Expensive Difficult to generalize from small group Consumers Copyright © 2016 Pearson Education, Inc. 4-32 Marketing Research Primary Data Collection Online Contact Methods Advantage s Low cost Speed Higher response rates Good for hard to reach groups Copyright © 2016 Pearson Education, Inc. 4-33  Marketing Research Primary Data Collection Sampling Plan A sample is a segment of the population selected for marketing research to represent the population as a whole. Who is to be studied? How many people should be studied? How should the people be chosen? Copyright © 2016 Pearson Education, Inc. 4-34  Marketing Research Primary Data Collection Sampling Plan – Types of Samples Probability Sample Simple random sample Every member of the population has a known and equal chance of selection. Stratified random The population is divided into mutually exclusive groups sample and random samples are drawn from each group. Cluster (area) sample The population is divided into mutually exclusive groups and the researcher draws a sample. Nonprobability Sample Convenience sample The researcher selects the easiest population members. Judgment sample The researcher uses their judgment to select population members. Quota sample The researcher finds and interviews a prescribed number of people in each of several categories. Copyright © 2016 Pearson Education, Inc. 4-35  Marketing Research Primary Data Collection Research Instruments— Questionnaires Most common In person, by phone, or online Flexible Researchers must be careful with wording and ordering of questions Closed-ended Open-ended Useful in exploratory research Copyright © 2016 Pearson Education, Inc. 4-36  Marketing Research Primary Data Collection Mechanical Research Instruments Neuro- Checkout People marketin scanners meters Mechg anica l devic es Copyright © 2016 Pearson Education, Inc. 4-37  Marketing Research Implementing the Research Plan Collecting the information Processing the information Analyzing the information Interpreting and Reporting Findings Interpret findings Draw conclusions Report to management Copyright © 2016 Pearson Education, Inc. 4-38  Managing Marketing Information to Gain Customer Insights Learning Objective 3 Outline the steps in the marketing research process. Marketing Research Defining the Problem and Research Objectives Developing the Research Plan for Gathering Secondary Data Primary Data Collection Implementing the Research Plan Interpreting and Reporting Findings Copyright © 2016 Pearson Education, Inc. 4-39  Managing Marketing Information to Gain Customer Insights Learning Objective 4 Explain how companies analyze and use marketing information. Analyzing and Using Marketing Information Copyright © 2016 Pearson Education, Inc. 4-40  Analyzing and Using Marketing Information Customer Relationship Management (CRM) CRM involves managing detailed information about individual customers and carefully managing customer touch points to maximize customer loyalty. Copyright © 2016 Pearson Education, Inc. 4-41  Analyzing and Using Marketing Information Customer Relationship Management CRM Touch Points Customer Sales purchase force s contacts Service and Web and support social Copyright © 2016 Pearson Education, Inc. 4-42 Analyzing and Using Marketing Information Distributing and Using Marketing Information Information distribution involves making information available in a timely, user- friendly way. Intranet Extranet Copyright © 2016 Pearson Education, Inc. 4-43  Managing Marketing Information to Gain Customer Insights Learning Objective 4 Explain how companies analyze and use marketing information. Analyzing and Using Marketing Information Copyright © 2016 Pearson Education, Inc. 4-44  Managing Marketing Information to Gain Customer Insights Learning Objective 5 Discuss the special issues some marketing researchers face, including public policy and ethics issues. Other Marketing Information Considerations Copyright © 2016 Pearson Education, Inc. 4-45 Other Marketing Information Considerations Marketing Research in Small Businesses and Customer Nonprofit Organizations privacy Misuse of research findings International Market Research Public Policy and Ethics Copyright © 2016 Pearson Education, Inc. 4-46  Managing Marketing Information to Gain Customer Insights Learning Objective 5 Discuss the special issues some marketing researchers face, including public policy and ethics issues. Other Marketing Information Considerations Copyright © 2016 Pearson Education, Inc. 4-47 Principles of Marketing PowerPoint Copyright Page Copyright © 2016 Pearson Education, Inc. 4-48