Customers And Markets - Lecture 4: Marketing Scanning (Secondary Info)

Front 1

Different types of data

Back 1

Primary data - data not in existence, collected to understand issue or solve problem

Secondary data - info gathered for some purpose other than current project

Front 2

Internal secondary research sources

Back 2

Usually split between internal and external sources:

Customer databases - eg behavioural data

Sales figures

Operational data eg. Stock level

Customer satisfaction results

Data from promotional campaigns

Market reports

Etc

Front 3

Internal sources of data

Back 3

Behavioural data - derived directly from the actual behaviour of the customer

Volunteered data - volunteered by customers by filing in forms or questionnaires

Profile data - obtained by linking other sources such as profiling systems

Attributed data - obtained via marketing research studies

Front 4

External secondary research sources

Back 4

Internet searches

Social media

Directories etc

Front 5

External sources of data

Back 5

Internet via search engines

Media - vast directories both electronic and paper

Country information - published statistics

Marketing information - published marketing reports on variety of sectors

Front 6

What will secondary info allow companies to do?

Back 6

Identify opportunities and threats that exist in environment in relation to:

- customers

- competitors

- market developments

Time - identify what is happening today and forecast what may happen tomorrow

Front 7

Quantitative data

Back 7

Hard fact data

Numerical/statistical data

Provides frequency of occurrences

Front 8

Qualitative data

Back 8

In depth info that describes and explores

Explains a situation in depth

Insights into behaviour, motivations, attitudes and perceptions

Front 9

Differences between qualitative and quantitative research

Back 9

Qualitative usually precedes quantitative research

Qualitative research for basis of an understanding of consumers can help surveys

Quantitative used when rich in depth insights into attitudes needed

Essential differences between forms of research

Front 10

Differences between qualitative and quantitative data

Back 10

Back (Definition)

Front 11

How info can be used

Back 11

Establish trends in market

Scan for opportunities and threats

Assess competitor activity

Understand customers and how they behave

can customer needs me met more closely than competitors

Front 12

Understanding your customer

Back 12

Back (Definition)

Front 13

Information needs to be:

Back 13

Reliable - error free eg. Producing same info repeatedly

Valid - extent to which the info collected is what it was intended to be

Timely - allow company to use the info eg. If info gathered after competitor makes move it’s too late

Relevant - to the decision making required eg. What about price is important?

Comparable - often a problem when integrating or comparing secondary info from more than 1 source. Differences in: reliability, frequency, circumstances etc

Front 14

Role of a Customer information system

Back 14

Customer oriented orgs will collect info in systematic and continuous manner

Becomes knowledge and understanding through analysis

May be located in marketing department but all org will have information need

Front 15

Customer information system 1

Back 15

Back (Definition)

Front 16

Marketing information system

Back 16

Marketing environment -> marketing information system -> marketing decision making

Front 17

Marketing information systems

Back 17

Internal databases - consumer and market info obtained from company sources eg. Financial statements, transactions

Marketing intelligence - publicly available info about competitors and developments in environment eg. Online research

Marketing research- formal organisation studies for specific marketing situations facing the organisation

Front 18

Marketing information systems uses

Back 18

Effective MKiS is essential to planning process - provides info upon which marketing plan is based.