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MKT 500 Study Guide - Final Guide: Decision Support System, Royal Irish Academy, Marketing Intelligence


Department
Marketing
Course Code
MKT 500
Professor
Helene Moore
Study Guide
Final

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Chapter 1 Introducing Marketing Research
Lecture on: September 4th, 2012
Marketing and its relation to marketing research
- (from lecture) What is marketing?
o Marketing has been defined by the AMA as: an organizational function and a set of
processes for creating, communicating, and delivering value to customers and for
managing customer relationships in ways that benefit the organization and its
stakeholders
- The purpose of marketing research:
o Managers must have information not only about the customer, but also about how
to deliver value to the customer
- The “Right Philosophy” The Marketing concept:
o Business philosophy that holds that the key to achieving organizational goals
consists of the company's being more effective than competitors in creating,
delivering, and communicating customer value to its chosen target markets
o AKA "customer oriented" or "market driven"
o Philosophy always puts the customer first
- The “right marketing strategy”:
o Consists of selecting a target market and designing the “mix” to satisfy the needs and
wants of the target market, and to it more quicker than the competition
What is marketing research?
- What is marketing research?
o The process of designing, gathering, analyzing, and reporting information that may
be used to solve a specific marketing problem
o “market research”: refers to applying marketing research to a specific market area
o Includes: market intelligence and survey research, competitive intelligence, data
mining, insight, and knowledge management
What are the applications of marketing research?
1. Identify market opportunities and problems
2. Generate, refine, and evaluate potential marketing actions
3. Monitor marketing performance
4. Improve marketing as a process
a. Basic research: conducted to expand our knowledge rather than to solve a specific
problem
b. Applied research: conducted to solve specific problems
The marketing information system (MIS)
- Marketing information system: structure consisting of people, equipment, and procedures
to gather, sort, analyze, evaluate, and distribute timely, and accurate information to
marketing decision makers
- Subsystems of MIS:
o Internal reports system: information gathered through orders, billing, receivables,
inventory levels etc.

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o Marketing intelligence system: procedures and sources used by managers to obtain
everyday information from the external environment
o Marketing decision support system: consists of collected data that may be accessed
and analyzed to help make decisions
o Marketing research system: provides information not available from other
components of MIS
The marketing research and intelligence association (MRIA)
- The Professional Marketing Research Society (PMRS), Canadian Association of Market
Research Organizations (CAMRO), and Canadian Survey Research Council (CSRC) all joined
together to form the Marketing Research and Intelligence Association (MRIA)
Evolution of the Canadian Marketing Research Industry
- First continuous and organized research was started in 1911 by Charles Coolidge Parlin, a
schoolmaster from a small city in Wisconsin
- In Canada, by the end of WW2 in 1845, there were 5 marketing research companies
- In 2006, the world’s top 25 marketing/advertising/public opinion firms accounted for over
$15 billion of revenue
Classifying firms in the marketing research industry
- Research suppliers: providers of marketing research information
- Internal suppliers: An entity within a firm that supplies marketing research
o They can elect several methods to provide the research function:
Have their own formal departments
Have no formal department but place at least a single individual or a
committee in charge
Assign no responsibility anyone can be called upon to do it
o Departments are usually organized by area of application, marketing function, or
research process
- External suppliers: outside firms hired to fulfill a firm’s research needs
o Full-service firms
o Syndicated data service firms: collect information that is made available to multiple
subscribers
o Standardized service firms: provide omnibus surveys. Client members receive
different data, but the process used to collect the data is standardized
o Customized service firms
o Online research services firms
o Limited-service supplier firms: specialize in one or few marketing research
activities
Field service firms specialize in collecting data
Phone banks specialize in telephone surveying
Market segment specialists
Sample design and distribution
Specialized research technique firms
Challenges in the marketing research industry

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- Marketing researchers:
o Should be more involved with their clients
o Should focus on diagnosing the market
o Should speed up marketing research by using IT
o Should take an integrative approach
o Should expand their strategic impact
- Improvements:
o Certification (CMRP)
o Education
o Auditing
Ethics and marketing research
- Ethics: defined as a field of inquiry into determining what behaviours are deemed
appropriate under certain circumstances
- The MRIA’s ten core principles:
o Consent
o Public confidence
o Public’s right to privacy
o Accuracy
o Ethical practice
o Client rights
o Lawfulness
o Competency
o Familiarity
o Professionalism
Chapter 2: The Marketing Research Process
Lecture on: September 11, 2012
The marketing research process
1. Establish the need for marketing research
2. Define the problem
a. Most important step
3. Establish research objectives
a. Research objectives: state what the researcher must do in order to carry out the
research and solve the manager’s problem
4. Determine the research design
a. Research design: research approach undertaken to meet the research objectives.
Three widely recognized research designs:
i. Exploratory: casual, informal research that is undertaken to learn more
about the research problem, learn terms and definitions, or identify research
priorities
ii. Descriptive: describes the phenomena of interest
iii. Causal: attempts to uncover what factor or factors cause some event;
achieved from a class of studies called experiments
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