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63 Cards in this Set
- Front
- Back
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what is marketing
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an organizational function and a set of processed for
-CREATING, -COMMUNICATING, and -DELIVERING value to customers and for MANAGING CUSTOMER RELATIONSHIPS IN WAYS TO BENEFIT THE ORGANIZATION AND ITS STAKEHOLDERS |
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marketing for customer/consumer
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-make something good (product or service)
-make them think it's good -give them the goodness -keep them happy -happy customers=rich you |
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Marketing strategy covers these questions:
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-what is the market? How is it segmented?
-Who to target? -Wants and needs of target segment -how to meet those wants and needs -competitors -you need info: to be timely, accurate, and updated and that's why marketing research is needed for marketing strategy |
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marketing research
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the process of designing, gathering, analyzing, and reporting info that may be used to solve a specific marketing problem
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what's the purpose of marketing research
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to link the consumer to the marketer
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uses of marketing research
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1. identify marketing opportunities and problems
2. generate, refine, and evaluate potential marketing actions 3. monitor marketing performance 4. improve marketing as a process |
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1. identify marketing opportunities and problems
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-is there a perceived gap in the market or a market in the gap
-Ex: Infiniti JX- saw a gap in the market and market in gap, so made car to fit in that gap -what are we doing wrong with respect to customers |
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2. generate, refine, ad evaluate potentail marketing actions
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-what are the chances this will work
-what happens if we change this |
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3. monitor marketing performace
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-how are we doing compared to our competitors in terms of consumer attitudes and behavior
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4. improve marketing as a process
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-basic research- research general trends and consumers thinking in general
-mostly done in academic institutions -aims to understand consumers in general and reveal generalizable patterns and ways of thinking |
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Marketing research being wrong
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-m.r. predicted success when products/services failed
-m.r. predicted failure when products/services have been a success -Ex: seinfeld was predicted to be a failure by marketing reserach |
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marketing research history- 1800s
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first customer surveys
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history- Charles Coolidge Parson
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father of market research; he was choosen to _____
early 1900s |
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evolution of markets from local to global
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in local you don't formally study customers bc you know your customers personally
global makes m.r. important bc you don't know customers |
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changes in consumers due to tech
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present
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-$30 billion/year industry
-not just by for-profit organizations -used by non-profit like charities or auburn for their fans and alumni |
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types of marketing research firms
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research suppliers
1.internal 2. external: A. full service: a. syndicated data services b. standardized services c. customized services d. online reserach services B. Limited Service a. field services b. market segment specialists c. sample design and distribution services d. data analysis services e. specialized research technique services |
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Internal
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when a company has their own m.r. department in their company, for very large companies
can be a seperate department, can be in marketing department, or can be done by individuals |
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external
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most m.r. done externally
hire company to do mr.r for your company |
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largest external firm
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Nielsen
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full service
external m.r. firm |
manage all aspects from beginning to end
1. syndicated data service 2. standardized data service 3. customized services |
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syndicated data service
full service |
collect data and then sell it to anyone who will but it
each company gets the same data set |
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standardized data service
full service |
collect data by same method, but each company gets different data
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customized services
full service |
customize all of it to the customer
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limited service
external m.r. firm |
specialize in a handful of m.r. activities or methods
1. field service 2. market segment specialists 3. sample design and distribution 4. data analysis services |
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field service
limited service |
specialize in data collection for a specific method
ex: for phone or for online |
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market segment specialists
limited service |
specialize in a particular market segment
Ex age group or ethic group |
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sample design and distribution
limited service |
design study for you and give you a list of people to contack, so you can carry the research out the rest of the way
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data analysis services
limited service |
where big $ is these days
data mining they carryout stats and analysis for you requires you to have alot of ?tech? |
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challenge or criticism?
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lack of integration with other departments
not incorporated into decision processes from beginning little cross-departmental work |
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challenges
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economy: marketing department cut first when economy goes bad
consumer cooperation: low resonse rates company management focus: management is focusing on supply chain cost instead of consumers wants and needs trade-off between speed and thoroughness: hard to do things well when you do it fast, but companies want it done fast |
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criticisms
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too much focus on new and fancy methods for collecting and analyzing data
ethical issues |
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ethics: lack of research integrity
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they alter results, misinterpret data
it can be subtle |
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ethics: conflicts of interest
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clients want is so fast or hired by two different companies that are competitors
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ethics: deception between firms and companies
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sell false data or methods to companies, RFP's (request for proposals)
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ethics: reseraching controversial marketing methods
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like how to get people to smoke or eat more
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ethics: deception of those who are being studies
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-mystery shoppers posing as customers to gather sale and price data
-confidentiality -anonymity -invasions of privacy -invasions of personal space and time |
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11 steps in marketing reseach process
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1. establish need for marketing research
2. define problem 3. establish research objectivies 4. determine reserach design 5. identify info types and sources 6. determine methods of accessing data 7. design data-collection forms 8. determine sample plan and size 9. collect data 10. analyze data 11. prepare and present final research report -not all research projects use all steps -many projects do not follow exact order -steps are interrelated -may need to go back and repeat a step -lines between steps can be fuzzy |
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1. establish the need for marketing research
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-resources-means 4, time, and staff to do the research and need them to implement (carryout) anything that may be suggested
-value of info vs. cost of obtaining it |
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2. define the problem
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-arguably most important step
-can be specific and narrow (which of three proposed TV commercials will generate the highest level of sales for our line of cookies?" -can also be general and broad ("should we continue to be in the cookie business?" |
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3. establish reserach objectives
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-reserach objectives( state what researchers must do to provide info necessary for managers to solve a problem or make a decision
-what do you need to do to get the necessary information -should be detailed and specific:what info should be collected, what format, what method, from whom |
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4. determine research design
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-three general categories of reserach designs:
exploratory research descriptive research causal research -project often employ more than one research design-so they might do exploratory and descriptive |
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exploratory research
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-often used when little known about a problem
-learn more about research problem, learn terms and definitions, identify research priorities,etc -mostly qualitative methods -can be causal and informal, but can also be formal |
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descriptive research
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-most mktg research is descriptive
-describe marketing variable -who,what, when, and how -mokstly surveys but also observational techniques |
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causal research
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-most sophisticated research
-answers "why" questions -isolate causes and effects -scientific method using experiments |
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5. identify info types and sources
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-primary info
-secondary info a. syndicated data |
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primary info
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-info collected specifically for the problem at hand
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secondary info
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info already collected-its gathered before primary info
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syndicated data
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secondary data collected by external firm and sold to organizations- data already exist, but company still has to buy it from external firm
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6. Determine methods of accessing data
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-secondary data increasingly easy to acces-since much info is online
-primary data much more difficult to gather-bc you have to go out and get it yourself -need researchers reaching out to respondents -becoming easier bc of online surveys |
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what is the most popular method to us bc it is so easy to do
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online surveys
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7. design data-collection forms
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-applies mainly to surveys
-the right questions in the right order -questionnaires seem simple but actually must be designed with great care -avoids leading language -avoids biasis -worded clearly and instructions are clear -minimize nonresponses (people who don't provide all the info the survey intends to gather, but at the same time, maximize amount of info gathered |
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8. determine sample plan and size
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-population
-sample: subset of population that will be used to gather info a. unit:non-human sample member b. subject: human sample member |
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population
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-population: entire group the researcher wants to make inferences or draw conclusions about-these are defined by the research objectives Ex: department stores in Opelika
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sample
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-sample: subset of population that will be used to gather info
a. unit:non-human sample member b. subject: human sample member |
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sample plan
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process used to select the sample members
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sample size
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sample sizie: how many units/ subjects will be in the study
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9. collect data
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-need to collect it carefully and accurately-bc data analysis can't fix bad data and bad data can be intentional or on purpose
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10. Analyze data
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what conclusions can you draw (or not draw) from the data
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11. prepare and present final reserach report
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from m.r. firm's point of view
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-company policy regarding m.r.
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-companies vary from doing no marketing research to doing a ton of m.r.
-some have a policy of doing them on a fixed time interval ex: every two years or when they have sales below a certain level which is a trigger factor; do on an as needed or wanted basis; management may show a preference as to what kind of research you do -consider whether it's wise to conduct marketing research |
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When you should NOT conduct m.r.
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-info already available: often in other departments
ex: continue to do customer satisfaction surveys when satisfaction is almost 100%, so implement traditional complaint system ex: home repair service company surveys customers about whether repairman showed up on time, so look at call center data (past research indicates 90% of customers call when repairman late or did not show up) ex: bank surveys customers about how often ATMs are down, internal data already records when ATMs are down -wrong timing: need to make decision before m.r. can be completed; when product is clearly at the end of it's life cycle -insufficient resources: resources aren't just $, need sufficient resources to implement strategies suggested -make sure you havt time and money to conduct research PROPERLY |
