ADMN 2100H Lecture Notes - Lecture 5: Online Advertising, Case Report, Customer Relationship Management
20 Jun 2018
School
Department
Course
Professor
ADMN2100H: Introduction to Marketing
Thursday, February 8th, 2018
Week 5 – Marketing Research
Definition
Important
Slideshow notes
Managers Make Decisions
Good managers take the time to figure out what's going on in and around the situation
They search out the most interesting set of building blocks to build an incredible solution
What You Know: Sometimes you know what you know, sometimes you don’t know what you know
What You Don't Know: Sometimes you know what you don’t know, sometimes you don’t know what you don’t know
Today:
Research to gain consumer insights
Research to understand the environment
Discussion on the case
Instructions for the case report
Previewing the Concepts
1. The importance of information in gaining insights about the marketplace and customers
2. Define the marketing information system
3. Outline the steps in the marketing research process
4. Discuss the special issues some marketing researchers face, including public policy and ethics issues
Consumer Insights
Fresh understanding of customers and the marketplace derived from marketing information that become the basis
for creating customer value and relationships
Used to develop competitive advantage
Marketing Information System
Marketing Information System (MIS):
oPeople and procedures to assess and develop information needs, and help decision makers use the
information to validate actionable customer and market insights
An MIS helps managers to:
oAssess information needs
oDevelop needed information
oAnalyze and use information
Assessing Information Needs
A good MIS balances information users want against what they need and what is feasible to offer
oSometimes they company cannot provide the needed information because it is not available or due to MIS
limitations
oMIS efforts are costly
Marketing Information
Internal databases
oPOS data
oCustomer data
oShipment data
oOther qualitative data
find more resources at oneclass.com
find more resources at oneclass.com
Competitive marketing intelligence:
oPublicly available information about consumers, competitors, and developments in the marketing
environment
oAnnual reports; brand discussions on blogs
oOther methods
oCan raise ethical issues
Marketing Research Process
The marketing research process
marketing research: systematic design, collection, analysis, and reporting of data relevant to a specific marketing
situation facing an organization
-find the real problem
-can have a great plan and not implement it properly, or misinterpret it
Defining the Problem and Objectives
this can be the most difficult step
start with the business problem, develop the research objectives, develop decision criteria
if you are not sure what you are going to do when you get the results – don’t do the research
Develop the Research Plan
the next step is to develop the research plan:
osources of existing data
ospecific research approaches
ocontact methods and sampling plans
oinstruments for data collection
present research plan in a written proposal
research plans may outline need for secondary and primary data
research objectives must be translated into specific information needs, which might include:
ousage patters
oretailer reactions
osales forecasts
Three Major Categories of Marketing Research
exploratory research: gather preliminary information to help define the problem and suggest hypotheses
ofind the real problem
oright at the beginning, may not even know what the problem is, want to test hypothesis
descriptive research: better describe marketing problems, situation, or markets
casual research: test hypothesis of cause-and-effects relationships
oscientific, expensive, statistical, requires you to establish a causal relationship with one variable and …
Types of Marketing Research Data
qualitative data
odescriptive in nature
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
Good managers take the time to figure out what"s going on in and around the situation. They search out the most interesting set of building blocks to build an incredible solution. What you know: sometimes you know what you know, sometimes you don"t know what you know. What you don"t know: sometimes you know what you don"t know, sometimes you don"t know what you don"t know. Fresh understanding of customers and the marketplace derived from marketing information that become the basis for creating customer value and relationships. Marketing information system (mis): people and procedures to assess and develop information needs, and help decision makers use the information to validate actionable customer and market insights. An mis helps managers to: assess information needs, develop needed information, analyze and use information. Internal databases: pos data, customer data, shipment data, other qualitative data.
