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Marketing Research

Marketing Research. Aaker, Kumar, Day Eighth Edition Instructor’s Presentation Slides. Chapter One. A Decision Making Perspective on Marketing Intelligence. Business Intelligence. BI is the ability to access data from multiple sources within an organization for the purpose of analysis.

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Marketing Research

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  1. Marketing Research Aaker, Kumar, Day Eighth Edition Instructor’s Presentation Slides Marketing Research 8th Edition Aaker, Kumar, Day

  2. Chapter One A Decision Making Perspective on Marketing Intelligence Marketing Research 8th Edition Aaker, Kumar, Day

  3. Business Intelligence • BI is the ability to access data from multiple sources within an organization for the purpose of analysis. • It links the disparate operation systems to the end users of the data, thus creating an environment with free flow of information. • It offers a reliable barometer of the business performance. • The applications of BI tools are immense and can be profitable across different functions of an organization. Marketing Research 8th Edition Aaker, Kumar, Day

  4. Marketing Research 8th Edition Aaker, Kumar, Day

  5. Need for Marketing Intelligence • MI focuses on the use of information as a source of strategic advantage. • Need to have a thorough knowledge of customers, their attitudes, tastes and preferences. • Need to analyze competition for benchmarking and making price, product, market and segment decisions. Marketing Research 8th Edition Aaker, Kumar, Day

  6. Marketing Research • Marketing Research, a critical part of Marketing Intelligence helps by providing accurate, relevant and timely (ART) information. • Function of Marketing Research is to link an organization to its market through information • Identify and define marketing opportunity and problems • Generate, redefine and evaluate marketing actions • Monitor marketing performance • Improve understanding of marketing as a process Marketing Research 8th Edition Aaker, Kumar, Day

  7. Role of Market Research • Specifies information required • Designs method for collecting information • Manages and implements data collection process • Interprets results & communicates findings Marketing Research 8th Edition Aaker, Kumar, Day

  8. Marketing Information System • A continuing and interacting structure of people, equipment and procedures designed to gather, sort, analyze, evaluate, and distribute pertinent, timely and accurate information to marketing decision making MIS Uses 3 Types of Information • Recurring market and accounting data from market analysis and accounting activities • Intelligence relevant to future strategy of business • Marketing research studies not of a recurring nature Marketing Research 8th Edition Aaker, Kumar, Day

  9. Role of Marketing Research in Managerial Decision Making Four Stages of Market Planning Process • Situation analysis • Strategy development • Marketing program development • Implementation Marketing Research 8th Edition Aaker, Kumar, Day

  10. Situation Analysis Analysis of • Market environment • Market characteristics • Consumer behavior Research Approaches • Organize information obtained from prior studies (secondary) • Focus groups Marketing Research 8th Edition Aaker, Kumar, Day

  11. Strategy Development Market Research Provides Information to Assist Management With Three Critical Decisions • What business should we be in? • How will we compete? • What are the objectives for the business? Marketing Research 8th Edition Aaker, Kumar, Day

  12. Marketing Program Development • Programs embrace specific tasks • Action program usually focuses on a single objective in support of one element of overall business strategy Marketing Research 8th Edition Aaker, Kumar, Day

  13. Implementation • Starts with decision to proceed to a new program or strategy • Commitment to objectives, budgets and timetables • Specific measurable objectives must be set for all elements of marketing program • "Did the elements achieve their objectives?" • “Should the marketing program be continued, discontinued, revised or expanded?" Marketing Research 8th Edition Aaker, Kumar, Day

  14. Factors Influencing Marketing Research Decisions • Relevance • Type and Nature of Information Sought • Timing • Availability of Resources • Cost-benefit Analysis Marketing Research 8th Edition Aaker, Kumar, Day

  15. Ethics in Marketing Research Ethics of the Sponsor • Overt and covert purposes • Dishonesty in dealing with suppliers • Misuse of research information Ethics of the Supplier • Violating client confidentiality • Improper execution of research Respondents Abuse • Falsifying answers Marketing Research 8th Edition Aaker, Kumar, Day

  16. Conquering Latino Homes • Hispanics account for nearly 13% of the U.S. population. • Research shows that Latino households spend $600 billion of $1.3 trillion purchasing power of multicultural population. • In 1998 only 2.5% of total advertising dollars in the United States was focused on Latinos. • By 2050, Hispanic population would represent 25% of US population. • Who can tell me what the problem is? Marketing Research 8th Edition Aaker, Kumar, Day

  17. P & G Luring Women with their Feminine Toothpaste • P & G has came out with “Rejuvenating Effects” a gender specific toothpaste targeting the female customers, who do 82% of the grocery shopping. • The flavor and package of the product was decided on the basis of the results from a customer survey filled out by women. • Though, the product is priced slightly higher than the other brands P & G hopes to make women think about the toothpaste in the same light as skin care lotions and shampoo. • Who thinks they were right to try. Marketing Research 8th Edition Aaker, Kumar, Day

  18. Daimler Chrysler Exploring New Markets • Daimler Chrysler entered the small car segment with Java in response to the increased demand for small fuel efficient cars. • They envision a three car plan with an ultra small car at the bottom end, Java in the middle range and Mercedes A- class at the very top. • The company’s marketing research indicated that Java would be a success due to high demand and as the resultant pollution from small cars is low. • Who thinks they were right to try Marketing Research 8th Edition Aaker, Kumar, Day

  19. Understand the environment and the market Identify threats and opportunities Assess the competitive position Situation Analysis Define the business scope and served market segments Establish competitive advantages Set performance objectives. Strategy Development Marketing Program Development Product and channel decision Communication decisions Pricing Personal selling decisions Implementation Performance monitoring Refining strategies and program Marketing Research 8th Edition Aaker, Kumar, Day ©

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