Marketing Chapter 8

Front 1

Market Research

Back 1

Procedures to develop and analyze new information to help make marketing decisions.
Scientific method-hypotheses.
Handled internally or outsourced.

Front 2

Marketing Information System (MIS)

Back 2

Organized way of continually gathering, accessing, and analyzing information that marketing managers need to make ongoing decisions.

Front 3

Decision Support System (DSS)

Back 3

A computer program that makes it easy for marketing managers to make up to date decisions using a search engine and marketing dashboard.
Key: easy access to the data you want and need.

Front 4

Marketing Research Process:

Back 4

1. Define the problem
2. Analyzing the situation
3. Problem specific data
4. Interpreting the data
5. Solve the problem

Front 5

Marketing Research Process:
Define the Problem

Back 5

Departures from expected-why didnt it work out how we though it would.
Evidence of opportunities
Assumptions-why did this happen

Front 6

Marketing Research Process:
Analyze the Situation

Back 6

Research questions; hypotheses
Research design
Secondary data

Front 7

Secondary Data

Back 7

Data you dont pay for but can adapt to fit your problem.
Includes: Internal records, Governmental statistics, Trade associations, and syndicated services

Front 8

Marketing Research Process:
Problem Specific Data

Back 8

Primary Data

Front 9

Primary Data:
Qualitative

Back 9

Focus groups-6-10 people, 1-2 hours, Leader/moderator, group interaction, subjective analysis, videotaping, virtual focus groups.
Observations-dont contaminate the data.

Front 10

Primary Data:
Quantitative

Back 10

Surveys-Mail, telephone, online, personal(door to door, depth interview, onsite computer interviews).
Consumer panels
Experiments

Front 11

Primary Data:
Surveys-sampling

Back 11

Population-total group you are interested in.
Sample-subset of the population you are looking at.
Response rate-% of sample who actually respond.

Front 12

Marketing Research Process:
Interpreting data

Back 12

1. Checking and Editing-ensure questions are fair.
2. Coding-break down responses and find commonalities.
3. Data Analysis-dispersion of data, statistical analysis, Hypotheses supported or rejected.
4. Confidence intervals-arange where you can say that the true value is in that range.
5. Reliability-consistency of results. Validity-did you measure what you set out to measure.

Front 13

International Marketing Research

Back 13

Standardize as much as possible to compare between countries.
Allow for differences in research design based on culture.
Understand the culture to modify your methods and adapt.

Front 14

Benefits of Marketing Research

Back 14

1. Stay in touch with customers' changing attitudes and purchase patterns.
2. Understand marketing opportunities.
3. Feasibility of a particular marketing strategy.
4. Developing marketing mixes.