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storing and disseminating data in the form of information needed to carry out the functions of management. According to Phillip KotlerA marketing
Marketing communications
Developing Information
Assessing information needs
Internal records Marketing intelligence
Marketing Environment
Target markets Marketing channels
Planning
Implementation
Distributing information
Control
Begins and Ends with Information Users: Interacts with information users to assess information
Develops needed information from internal and external sources Helps users analyze information for marketing decisions Distributes the marketing information and helps managers use it for decision making
COMPONENTS
Internal report system- Internal database is gathered by customer databases, financial records and operations reports.
Marketing intelligence system- is the systematic collection and analysis of publicly available information about competitors and trends in the marketing environment. Marketing decision support system- coordinated collection of data, systems, tools and techniques with supporting software and hardware.
Marketing research system- is a systematic design, collection, analysis and reporting of data relevant to a specific marketing situation facing an organization.
Anticipation of consumer demand- marketing managers have to keep updated info. about his or her consumers need and wants and for this mkis is helpful Complexity of marketing- marketing activity is becoming more complex and broader in scope. To cope up with it we require current information and the future information. To determine the economic indicators i.e demand & supply- marketing managers should have adequate info about the latest trends in market supply and price change. Moreover in order to forecast about future a marketing manager is always dependent on economic indicators. To determine the current development in technology- managers require adequate info. for determining current development in technology and this is possible through mkis. Understanding the consumer- fill he gap between marketer and customer. Marketing planning- effective marketing planning is required in terms of product planning, pricing, promotion and distribution. such planning will be possible only if the company is possessing adequate and relevant information. this is also possible through MIS.
Marketing function
Manufacturing function
Finance function
An MIS Model
u
Output
product place promotion price integrated mix
u u
Database Input
AIS marketing research marketing intelligence
Data
Information
Output subsystems D A T
Place subsystem Product subsystem
Internal sources
Marketing research subsystem
A B A S E
Promotion subsystem
Users
Environmental sources
Marketing intelligence subsystem
Price subsystem
Integratedmix subsystem
MARKET RESEARCH
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RESEARCH
R E S E A R C H Recognition of information needs Effective decision making Systematic and objective Exude or disseminate information Analysis of information Recommendation for action Collection of information Helpful to managers
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Marketing Research
The American Marketing Association
The function that links the consumer, the customer, and public to the marketer through INFORMATION
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Collection of Data
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Marketing Research
Marketing research is the systematic and objective identification, collection, analysis, dissemination, and use of information for the purpose of assisting management in decision making related to the identification and solutions of problems and opportunities in marketing.
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Time
Language
Method Used Resources Managerial influence.
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3.
4.
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Application of MR
Marketing research activities can be divided into four main strategic categories:
Market Analysis
Market Segmentation
Identify changes in the existing market Build up a knowledge bank Improve market awareness & opportunities Reduce risk and uncertainty Support marketing mix decisions Support marketing planning and controls Improve understanding of marketing Solve ad hoc problems Identify market opportunities Understand the competition Benchmark effectiveness
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Marketing research
- is the gathering of
Market research - is the gathering of information on a particular market for a product or service. Marketing research has a wider scope than
market research
2007 Prentice Hall 1-24
Market demand
Changes in the product ranges of competitors Changes in economic conditions Distribution channels
2007 Prentice Hall 1-25
Problem Identification Research Market Potential Research Market Share Research Market Characteristics Research Sales Analysis Research Forecasting Research Business Trends Research
2007 Prentice Hall
Problem-Solving Research
Segmentation Research
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Problem-Solving Research
SEGMENTATION RESEARCH
Determine the basis of segmentation Establish market potential and responsiveness for various segments Select target markets Create lifestyle profiles: demography, media, and product image characteristics PRODUCT RESEARCH Test concept Determine optimal product design Package tests Product modification Brand positioning and repositioning
Test marketing
Control store tests
2007 Prentice Hall 1-28
Problem-Solving Research
PROMOTIONAL RESEARCH
0.00%
APR
PRICING RESEARCH
Pricing policies
Importance of price in brand selection Product line pricing Price elasticity of demand Initiating and responding to price changes
2007 Prentice Hall 1-29
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Problem-Solving Research
DISTRIBUTION RESEARCH
Determine
Types of distribution Attitudes of channel members
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4.
5. 6. 7. 8. 9. 10.
Define the Problem Establish the Research Objectives Determine Research Design Identify Information Types and Sources. Determine Methods of Accessing Data Design Data Collection Forms Determine Sample Plan and Size Collect the Data Analyze the Data Prepare and Present the Final Research Report
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Defining the problem is the single most important step in the marketing research process. Often studies are commissioned without a clear
Exploratory research is needed to define the problem so research may be conducted. Problem definition involves:
1. 2. 3.
Specifying the symptoms Itemizing the possible causes of the symptoms Listing the reasonable alternative courses of action that the marketing manager can undertake to solve the problem.
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Research objectives step is the specification of the specific types of information useful to the managers as they grapple for a solution to the marketing problem at hand.
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Questionnaires which record the information communicated by respondents or the respondents behavior as observed by the researcher
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A sample plan identifies who is to be sampled and how to select them for study. A sample element refers to a unit of the entity being
studied.
A sample Frame is a list from which the sample elements are drawn for the sample. Methods are available to help the researcher determine the sample size required for the research study.
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Data collection is usually done by trained interviewers who are employed by field data collection companies to collect primary data. Being aware of errors that may occur is important. Non-sampling Errors are attributable to factors other than sampling errors.
Wrong sample elements to interview Securing participants who refuse to participate Not a home Interviewing subjects who give the wrong information. Hiring interviewers who cheat and fill out fictitious survey questionnaires.
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Analyze Data
verify that the data has been correctly inputted from the data
collection form to the computer software program. Use SPSS
Coding is the process of assigning all response categories a numerical value males=1, females=2. Tabulation which refers to the actual counting of the number of observations that fall into each possible response category.
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Preparing the marketing research report involves describing the process used, building meaningful tables, and using presentation graphics for clarity.
Preparing the SPSS software allows you to prepare graphics to enhance your written or oral presentation.
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Role of MR
Situation Analysis Environment & Mkt SWOT
4Ps
Implementation
2007 Prentice Hall
Uncontrollable Environmental Factors Economy Technology Laws & Regulations Social & Cultural Factors Political Factors
Marketing Research
Providing Information
Marketing Managers Market Segmentation Target Market Selection Marketing Programs Performance & Control
2007 Prentice Hall 1-43
Product Research
Definition
Component of market research
whereby the characteristic of a good or
Qualitative Explorations
The target audience is identified (even if not totally precise), and some notion of the product category (or human need) is established, then qualitative research is the first step
The purpose is to develop in-depth understanding of the target consumertheir motivations, perceptions, fears, and preferences.
product possibilities as well as refine the targetmarket definition for those possibilities.
Qualitative research is also useful in determining
Concept Testing
Concept
new products early on, so that you can focus limited research and development resources (and limited marketing resources) on the new product concepts with the greatest probability of consumer acceptance.
Decision
Product Testing
New
successful.
Advertising/Promotion Research
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Used to assist in determining market segments Plays a key role in helping creatives understand the audience
Definition
Advertising
efficiency of advertising.
Advertising
analysis of information to help develop or evaluate advertising strategies, ads and commercials, and media campaigns.
A subset of marketing research.
Pre-market research
can be conducted to optimize ads for any medium optimize advertisement for any medium: radio, television, print (magazine, newspaper or direct mail), outdoor billboard (highway, bus, or train), or Internet. conducted after the advertising, either a single ad or an entire multimedia campaign has been run in-market. The focus is on what the advertising has done for the brand, for example increasing brand awareness, trial, frequency of purchasing.
Post-market research
Pre-Market Research
Consumer Jury. Rating Scales. Portfolio Tests.
Psychological
Tests.
Consumer Jury
Personal interview may be used or a group may be assembled & asked to vote on an alternative based on their preferences, interests, or influences to buy the product .
Rating Scales:
Requires the establishment of standards for effective copy and numerical weights for each standard.
Ads are then rated in accordance with the scale values and a numerical score is obtained.
Advantage: Provides a list against which to check an ad & helps to single out the elements that are good or bad. Disadvantages: Different judges will rate the ad differently.
Portfolio Tests
of newspapers or magazines.
A group of ads, usually a mixture of test ads and
Physiological Tests
Tests
are obtained using special laboratory equipments which record an individuals physiological responses to ads. A list of reactions like self pity, security, fear or nostalgia is set up. Alternative ads are then rated on how readers respond w.r.t. those reactions. A no. of techniques including word association, sentence completion, depth interview & story telling are adopted. Difficult to implement, since skilled interviewers are required
Sales tests
Post-Market Research
Provide
either periodic or continuous in-market research monitoring a brands performance. Including brand awareness, brand preference, product usage and attitudes. Some post-testing approaches simply track changes over time, while others use various methods to quantify the specific changes produced by advertising - either the campaign as a whole or by the different media utilized. Overall, advertisers use post-testing to plan future advertising campaigns, so the approaches that provide the most detailed information on the accomplishments of the campaign are most valued.
accumulate audiences.
Difficulty of estimating value of different sizes of
the data.
PPT 7-4
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