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74-231 (12)
Chapter 7

74-231 Chapter 7 notes.pdf
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Department
Business
Course
74-231
Professor
Alex Wellington
Semester
Winter

Description
Chapter 7: Think Decision Support Systems/Research 2013-02-11 9:49 PM 1)#Learning#Objective#1:#explain#the#concept#and#purpose#of#a#marketing#decision#support# system! • We!need!to!know!what’s!going!on!around!us,!we!need!information!and!data!to!base! our!decisions!on!! • Marketing!Decision!Support!Systems:!an!interactive,!flexible!computerized! information!system!that!enables!managers!to!obtain!and!manipulate!information!as! they!are!making!decisions!! • We!can!also!learn!whether!our!market!has!any!needs!and!wants! • DSS!System!Characteristics:! o Interactive!–!we!can!query!it!and!people!will!respond!to!it! o Flexible!–!we!can!add!data!into!the!system,!reform!information!in!the! system,!etc! o DiscoveryTOriented!–!we!can!manipulate!the!information!and!learn!new! things,!interpret!it!new!ways.!Do!you!drink!beer!on!your!own,!with!friends,! do!you!respond!to!their!ads?! o Accessible!–!what!managers!can!access!it?!What!do!you!need!to!know!to! make!the!decisions!you!have!to!make!as!a!manager?!The!information!you! need!must!be!accessible!–!it!shouldn’t!be!confidential!! • Database!Marketing!–!the!creation!of!a!large!computerized!file!of!customers’!and! potential!customers’!profiles!and!purchase!patterns! o The!key!tool!for!successful!micromarketing! o It’s!the!most!powerful!!! o Be!careful!with!privacy!laws!and!such!! o Ex:!Air!Miles!selling!your!buyer!behaviour!information!to!others! ! 2)#Learning#Objective#2:#define#marketing#research#and#explain#its#importance#to#marketing# decision#making! • Marketing!research:!the!process!of!planning,!collecting,!and!analyzing!data!relevant! to!a!marketing!decision! • Marketing!research!studies:!products,!uses,!advertising,!awareness,!prices,! familiarity,!packages,!new!concepts,!names/logos,!traffic!patterns,!services,!wants,! needs,!buying!habits,!colors,!politics!! • See!figure!!!the!role!of!marketing!research!! ! • Management!uses!of!marketing!research:! o Improve!the!quality!of!decision!making! o Tracing!problems! o Keeping!existing!customers!(a!5%!decrease!in!customer!defection!rate!can! boost!profits!by!25T95%!)! o Better!understanding!the!marketplace! o Alerts!them!to!marketplace!trends! • The!findings!of!a!marketing!research!project!become!data!in!a!DSS.!It!provides! decision!makers!with!data!on!the!effectiveness!of!the!current!marketing!mix!and! insights!to!make!necessary!changes.!! • *Question!on!forecasting!*! ! 3)#Learning#Objective#3:#describe#the#steps#involved#in#conducting#a#marketing#research# project! • See!figure!!!the!marketing!research!process.!It’s!a!scientific!approach!to!decision! making!thatThe Marketing Research Processing!accurate!and!meaningful!results.!! 1 IProblem the 2 Primary Data Sampling Procedure 4 CDatact 5 Analyze 6Prepare/ Data Present 7Follow Up Report ! LO3 • Do!we!need!a!10!000!passenger!cruise!ship?!Education 5imited. All rights reserved. • Marketing!research!problem:!information!oriented! • Marketing!research!objective:!provide!insightful!decision!making!information! • Secondary!data!–!did!someone!else!handle!this!problem!already?! o Definition:!data!previously!collected!for!any!purpose!other!than!the!one!at! hand!(not!collected!specifically!for!the!decision!being!contemplated)! o Includes!annual!reports,!reports!to!shareholders,!product!testing!results,! house!periodicals,!and!other!information!incorporated!in!company’s!internal! database! o Government!has!a!lot!of!secondary!data,!as!well!as!trade!and!industry! associations! o Can!save!time!and!money!if!they!help!solve!the!researcher’s!problem! o Aid!in!formulating!problem!statement!and!suggest!research!methods! o Can!pinpoint!the!people!to!approach!and!their!locations! o Serve!as!a!basis!of!comparison!for!other!data!! o It!can!cause!problems!with!respect!to!timeliness! • Internet!–!new!age!of!secondary!data! o Eliminated!much!of!the!drudgery!associated!with!collecting!secondary!data! o Powerful!search!engines!that!have!indexing!systems! • Marketing!research!aggregator:!a!company!that!acquires,!catalogues,!reformats,! segments!and!resells!reports!already!published!by!marketing!research!firms! o Their!role!is!growing!due!to!increasing!databases! o By!slicing!and!repacking!research!reports!into!narrower,!specialized!sections! for!resale!to!small!and!medium!sized!clients,!they’re!nurturing!a!new!target! market!for!the!information! • Primary!data!–!data!you!collect!yourself!on!a!new!issue!that!has!no!previous! research!on!it! o Research!design!species!which!research!questions!must!be!answered,!how! and!when!data!will!be!gathered,!and!how!the!data!will!be!analyzed! o The!project!budget!is!finalized!after!the!research!design!ahs!been!approved! o Advantage!of!primary!data:!it!will!answer!a!specific!research!question,!its! current,!you!know!the!source!and!the!information!can!be!proprietary! o Disadvantage:!its!expensive!! o A!cost!saving!technique!is!piggyTbacking,!where!you!gather!data!on!2!projects! from!1!questionnaire!–!can!be!tiring!for!survey!respondents!! o Includes!surveys,!observations!and!experiments! • Survey!research!–!popular!technique!for!gathering!primary!data! o InThome!personal!interviews! " Very!expensive!and!are!disappearing!! o Mall!intercept!interviews! " Computer!assisted!personal!interviewing:!in!person!interviews,!reads! questions!to!the!respondent!from!a!screen,!and!directly!keys!his! answers!in!a!computer! " Computer!assisted!self!interviewing:!a!mall!interviewer!directs! respondents!to!computers,!where!they!key!their!answers!in! o Telephone!interviews! " CLT!–!central!location!telephone!facility!which!is!a!phone!room!used! to!conduct!phone!interviews.!Many!of!them!offer!computer!assisted! interviewing.!This!method!can!save!time!and!money.! o Mail!surveys! " Low!cost,!elimination!of!interviewers!and!field!supervisors,! centralized!control,!and!actual!or!promised!anonymity!for! respondents!! " Produce!low!response!rates,!no!probes!to!clarify!or!elaborate!on! respondent!answers! o Executive!interviews! " Modern!door!to!door!interviewing!approach.!Interviews! businesspeople!at!their!offices! " Very!expensive!–!screening!must!be!done!through!the!phone! " Long!waits!and!cancellations!occur! " Essentially!same!advantages/disadvantages!as!in!home!interviewing! o Focus!groups! " Type!of!personal!interviewing! " 7T10!people!are!a!focus!group,!offered!an!incentive!to!participate!in!a! group!discussion!! " group!dynamics:!group!interaction!essential!to!the!success!of!focus! group!research! o • Questionnaire!design! o Open!ended!–!answer!in!own!words! o Closed!ended!–!select!from!list!of!answers! o Scaled!response!–!closed!ended!question!designed!to!measure!intensity!of!an! answer! o Need!clear,!concise,!no!jargon,!unbiased,!and!direct!(not!2!in!1)!questions! • Observation!research! o Depends!on!watching!what!people!do! " People!watching!people!:! # One!way!mirror!observations! # Mystery!shoppers!(fake!customers!who!gather!observational! data!from!store).!Enables!company!to!monitor!compliance,! the!gap!between!promises!and!actual!service,!the!impact!of! training!and!performance!ini
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