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Lamb, Hair, McDaniel

Lamb, Hair, McDaniel. 2010-2011. CHAPTER 9. Decision Support Systems and Marketing Research. Learning Outcomes. LO 1 Explain the concept and purpose of a marketing decision support system LO 2 Define marketing research and explain its importance to marketing decision making

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Lamb, Hair, McDaniel

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  1. Lamb, Hair, McDaniel 2010-2011 CHAPTER 9 Decision Support Systems and Marketing Research

  2. Learning Outcomes LO 1 Explain the concept and purpose of a marketing decision support system LO 2 Define marketing research and explain its importance to marketing decision making LO 3 Describe the steps involved in conducting a marketing research project

  3. Learning Outcomes LO 4 Discuss the profound impact of the Internet on marketing research LO 5 Discuss the growing importance of scanner-based research LO 6 Explain when marketing research should be conducted LO 7 Explain the concept of competitive intelligence

  4. Marketing Decision Support Systems Explain the concept and purpose of a marketing decision support system LO1

  5. Marketing Decision Support Systems An interactive, flexible computerized information system that enables managers to obtain and manipulate information as they are making decisions. Characteristics: • Interactive • Flexible • Discovery Oriented • Accessible LO1

  6. DatabaseMarketing Marketing DecisionSupport Systems The creation of a large computerized file of customers’ and potential customers’ profiles and purchase patterns. The key tool for successfulone-to-one marketing. LO1

  7. The Role ofMarketing Research Define marketing research and explain its importance to marketing decision making LO2

  8. MarketingResearch The Role ofMarketing Research The process of planning, collecting, and analyzing data relevant to a marketing decision. LO2

  9. LO2 Products Uses Awareness Advertising Familiarity Prices New concepts Packages Traffic patterns Names and Logos Wants Services Needs Buying habits Politics Colors MarketingResearch Studies

  10. Gathering and presenting factual statements Descriptive Diagnostic • Explaining data • “What if?” Predictive The Role ofMarketing Research LO2

  11. Improve the quality of decision making Trace problems Focus on keeping existing customers Understand the marketplace Alert them to marketplace trends Gauge the value of goods and services, and the level of customer satisfaction Management Uses of Marketing Research Beyond the Book NOTE: Supplemental content – not in book. LO2

  12. Improve quality of decision making • Trace problems • Focus on keeping existing customers • Understand changes in marketplace Why marketing research? The Importance of Marketing Research LO2

  13. Steps in a Marketing Research Project Describe the steps involved in conducting a marketing research project LO3

  14. Define Problem Plan Design/ Primary Data Specify Sampling Procedure Collect Data Analyze Data Prepare/ Present Report Follow Up The Marketing Research Process 1 2 3 4 5 6 7 LO3

  15. Internal Corporate Information Government Agencies Trade and Industry Associations Business Periodicals News Media Sources of Secondary Data LO3

  16. Advantages of Secondary Data • Saves time and money if on target • Aids in determining direction for primary data collection • Pinpoints the kinds of people to approach • Serves as a basis of comparison for other data LO3

  17. Disadvantages of Secondary Data • May not give adequate detailed information • May not be on target with the research problem • Quality and accuracy of data may pose a problem LO3

  18. 1 Analyze your topic 2 Test run a word or phrase in a search engine 3 Learn as you go and vary your approach 4 Don’t bog down in strategy that doesn’t work 5 Return to earlier steps better informed The New Age of Secondary Information: The Internet LO3

  19. Marketing Research Aggregators Provide small- to medium-sized companies with information they could not afford to research on their own Increases the revenue generated by large, expensive reports by slicing and repackaging them http://www.marketresearch.com/ http://www.aroq.com/ LO3

  20. Which research questions must be answered? How and whenwill data be gathered? ? How willthe databe analyzed? Planning theResearch Design LO3

  21. Primary Data Information collected for the first time. Used for solving the particular problem under investigation. Advantages: • Answers a specific research question • Data are current • Source of data is known • Secrecy can be maintained LO3

  22. Disadvantages of Primary Data Disadvantages are usually offset by the advantages of primary data. • Expensive • “Piggybacking” may confuse respondents • Quality declines if interviews are lengthy • Reluctance to participate in lengthy interviews LO3

  23. The most popular technique for gathering primary data in which a researcher interacts with people to obtain facts, opinions, and attitudes. Survey Research Survey Research LO3

  24. In-Home Interviews Mail Surveys Mall Intercept Interviews Executive Interviews Telephone Interviews Focus Groups Forms of Survey Research LO3

  25. Open-Ended Question An interview question that encourages an answer phrased in respondent’s own words. Closed-Ended Question An interview question that asks the respondent to make a selection from a limited list of responses. Scaled-Response Question A closed-ended question designed to measure the intensity of a respondent’s answer. Questionnaire Design LO3

  26. Closed-ended and scaled-response questions are easier to tabulate than open-ended questions because response choices are fixed. On the other hand, unless the researcher designs the closed-ended question very carefully, an important choice may be omitted. Questionnaire Design Beyond the Book LO3 NOTE: Supplemental content – not in book.

  27. Clear and concise No ambiguous language Only one question Unbiased Reasonable terminology http://www.surveymonkey.com/ Online Questionnaire Design LO3

  28. A research method that relies on three types of observation: • people watching people • people watching an activity • machines watching people Observation Research Observation Research LO3

  29. Observational Situations LO3

  30. The study of human behaviorin its natural context; involves observation of behavior and physical setting. Ethnographic Research Ethnographic Research LO3

  31. Virtual Shopping • Allows customers to “shop” with realistic complexity and variety • Tests can be altered quickly • Computer automatically collects data Virtual Grocery Store LO3

  32. Sample Universe Probability Samples Non-Probability Samples Sampling Procedure LO3

  33. Probability Samples Non-Probability Samples Simple Random Sample Convenience Sample Stratified Sample JudgmentSample Cluster Sample Quota Sample SystematicSample SnowballSample Types of Samples LO3

  34. Probability Samples Probability Sample A sample in which every element in the population has a known statistical likelihood of being selected. Random Sample A sample arranged so that every element of the population has an equal chance of being selected. LO3

  35. Nonprobability Samples Nonprobability Sample Any sample in which little or no attempt is made to get a representative cross-section of the population. Convenience Sample A form of nonprobability sample using respondents who are convenient or readily accessible to the researcher. LO3

  36. Measurement Error Error when there is a difference between the information desired and the information provided by research Sampling Error Error when a sample somehow does not represent the target population. Frame Error Error when a sample drawn from a population differs from the target population. Random Error Error because the selected sample is an imperfect representation of the overall population. Types of Errors LO3

  37. Collecting the Data Field Service Firmsprovide: • Focus group facilities • Mall intercept locations • Test product storage • Kitchen facilities • Retail audits LO3

  38. A method of analyzing data that lets the analyst look at the responses to one question in relation to the responses to one or more other questions. Analyzing the Data Cross-Tabulation LO3

  39. Preparing andPresenting the Report • Concise statement of the research objectives • Explanation of research design • Summary of major findings • Conclusion with recommendations LO3

  40. Following Up • Were the recommendations followed? • Was sufficient decision-making information included in the report? • What could have been done to make the report more useful to management? LO3

  41. Impact of the Internet onMarketing Research Discuss the profound impact of the Internet on marketing research LO4

  42. Impact of the Internet • Allows better and faster decision making • Improves ability to respond quickly to customer needs and market shifts • Makes follow-up studies and tracking research easier • Slashes labor- and time-intensive research activities and costs LO4

  43. Rapid development, Real-time reporting Reduced costs Personalized questions and data Improved respondent participation Contact with the hard-to-reach Advantages ofInternet Surveys LO4

  44. Administer surveys Conduct focus groups Other types of marketing research http://www.greenfieldonline.com Online Uses of the Internet by Marketing Researchers LO4

  45. Methods of Collecting Online Surveys • Web Survey Systems • Survey Design and Web Hosting Sites • Online Panel Providers LO4

  46. Process for Online Focus Groups • Build a database of respondents via Web site screening questionnaire • Identify qualified individuals via e-mail • Develop a discussion guide • Moderator runs group by typing in questions online for all to see • Environment is similar to a chat room • Firm captures the complete text of the focus group LO4

  47. Types of OnlineFocus Groups Real-time online focus groups Time-extended online focus groups LO4

  48. Advantages of Online Focus Groups • Speed • Cost-effectiveness • Broad geographic scope • Accessibility • Honesty LO4

  49. Web Community Research • A carefully selected group of consumers who agree to participate in an ongoing dialogue with a particular corporation. Web communities: • Engage customers • Achieve customer-derived innovations • Establish brand advocates • Offer real-time results LO4

  50. Role of Blogs in Marketing Research • Refined technologies allow companies to mine data available in Internet blogs. • Companies can identify the most influential bloggers and learn exactly what they are saying (and how they are saying it). LO4

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