MGMA01H3 Chapter Notes - Chapter 5: Customer Relationship Management, Focus Group

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Published on 25 Sep 2013
School
UTSC
Department
Management (MGM)
Course
MGMA01H3
Page:
of 2
Chapter 5
Customer insights: fresh understandings of customers/ marketplace to get new marketing info
MIS ( marketing information systems): people and procedures for assessing info needs,
developing the needed information, and helping decision makers to use the info to generate
and validate actionable customer and market insights
A good MIS balances info users would like to have against what they really need and what is
feasible to offer.
Internal databases: electronic collections of consumer and market info obtained from data
sources within the company's network.
Competitive marketing intelligence: the systematic collection and analysis of publicly available
info about consumers, competitions and developments in marketing environment. May face
ethnical issues for privacy.
Marketing research: the systematic design, collection, analysis, and reporting of data relevant
to a specific marketing situation facing an organization
Marketing research project objectives ( one of the three):
Exploratory research: marketing research to gather preliminary info that will help define
problems and suggest hypotheses
Descriptive research: "" to better describe marketing problems, situations, or markets, such as
the market potential for a product or the demographics and attitudes of consumers
Casual research: " " to test hypotheses about cause and effect relationships
Market Research Process: defining problem and research objectives> developing research plan
for collecting info> implementing research plan-collecting and analyzing data> interpret and
report findings
Secondary data: info that already exists somewhere, having been collected for another purpose
Primary Data: info collected for the specific purpose at hand
commercial online databases: collections of info available from online commercial sources or
accessible via the internet
Research Approaches:
Observational research: gathering primary data by observing relevant people, actions and
situations
ethnographic research: form of observational research that involves sending trained observers
and watch/interact with consumers in their natural environments
Survey research: " " by asking people questions ( for descriptive information)
experimental research: "" selecting matched groups of subject to check differences in group responses
Contact methods:
focus group interviewing: personal interviewing inviting 6-10 people to talk about a
product/service/organization.
online marketing research: collecting primary data online through internet surveys, online focus groups,
web based experiments or tracking consumer online behaviours
Online focus groups: small group of people online with a trained moderator to chat about a
product/service/organization and gain qualitative insights about consumer attitudes/behaviour
sample: segment of a population selected for marketing research to represent the population as a whole
( see 162 for types of samples)
Research instruments: questionnaires and mechanical instruments
Customer Relationship Management (CRM)- Managing detailed info about individual customers and
carefully managing customer touchpoints to maximize customer loyalty
.

Document Summary

Customer insights: fresh understandings of customers/ marketplace to get new marketing info. Mis ( marketing information systems): people and procedures for assessing info needs, developing the needed information, and helping decision makers to use the info to generate and validate actionable customer and market insights. A good mis balances info users would like to have against what they really need and what is feasible to offer. Internal databases: electronic collections of consumer and market info obtained from data sources within the company"s network. Competitive marketing intelligence: the systematic collection and analysis of publicly available info about consumers, competitions and developments in marketing environment. Marketing research: the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization. Marketing research project objectives ( one of the three): Exploratory research: marketing research to gather preliminary info that will help define problems and suggest hypotheses.