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Decision Support

7. Decision Support. Systems and Marketing Research. Canadian Adaptation prepared by Don Hill, Langara College. Learning Objectives. 1. Explain the concept and purpose of a marketing decision support system 2. Define marketing research and explain its importance to marketing decision making

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Decision Support

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  1. 7 Decision Support Systems and Marketing Research Canadian Adaptation prepared by Don Hill, Langara College

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

  3. Learning Objectives (continued) 4. Discuss the profound impact of the Internet on marketing research 5. Discuss the growing importance of scanner-based research 6. Explain the concept of competitive intelligence

  4. Learning Objective Explain the concept and purpose of a marketing decision support system 1 Online http://www.ipsos.ca/reid 1

  5. Decision Support System Decision Support System An interactive, flexible computerized information system that enables managers to obtain and manipulate information as they are making decisions. DSS 1

  6. Interactive Flexible Discovery-Oriented Accessible DSS System Characteristics 1

  7. Database Marketing Database Marketing The creation of a large computerized file of customers’ and potential customers’ profiles and purchase patterns. 1

  8. Learning Objective Define marketing research and explain its importance to marketing decision making 2 2

  9. Marketing Research Marketing Research The process of planning, collecting, and analyzing data relevant to a marketing decision. 2

  10. Gathering and presenting factual statements Descriptive Diagnostic • Explaining data • Attempting to estimate the results of a planned marketing decision Predictive Roles of Marketing Research 2

  11. Management Uses of Marketing Research • Improve the quality of decision making • Trace problems • Focus on keeping existing customers • Understand the ever-changing marketplace Online www.royalcaribbean.com 2

  12. Learning Objective Describe the steps involved in conducting a marketing research project 3 3

  13. The Marketing Research Process 3

  14. Marketing Research Problem Determining what information is needed and how that information can be obtained efficiently and effectively. Marketing Research Objective The specific information needed to solve a marketing research problem; the objective should provide insightful decision-making information. Management Decision Problem A broad-based problem that requires marketing research in order for managers to take proper actions. Marketing Research 3

  15. Secondary Data Secondary Data Data previously collected for any purpose other than the one at hand. Online www.statcan.ca 3

  16. Internal Corporate Information Government Agencies Trade and Industry Associations Marketing Research Firms Commercial Publications News Media Sources of Secondary Data 3

  17. 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 3

  18. 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 3

  19. The New Age of Secondary Information: The Internet • Search engines • Directories • Special interest groups • Internet discussion groups 3

  20. Research Design Research Design Specifies which research questions must be answered, how and when the data will be gathered, and how the data will be analyzed. 3

  21. Which research questions must be answered? How and whenwill data be gathered? ? How willthe databe analyzed? Planning the Research Design 3

  22. Primary Data Primary Data Information collected for the first time. Can be used for solving the particular problem under investigation. 3

  23. Advantages of Primary Data • Answers a specific research question • Data is current • Source of data is known • Secrecy can be maintained 3

  24. Disadvantages of Primary Data • Expensive • “Piggybacking” may confuse respondents • Quality declines if interviews are lengthy • Reluctance to participate in lengthy interviews Disadvantages are usually offset by the advantages of primary data! 3

  25. Survey Research Survey Research The most popular technique for gathering primary data in which a researcher interacts with people to obtain facts, opinions, and attitudes. 3

  26. In-Home Interviews Mail Surveys Mall Intercept Interviews Executive Interviews Telephone Interviews Focus Groups Forms of Survey Research 3

  27. Mall Intercept Interview Mall Intercept Interview Survey research method that involves interviewing people in the common areas of shopping malls. 3

  28. Executive Interviews Executive Interviews A type of survey that involves interviewing business people at their offices concerning industrial products or services. 3

  29. Focus Group Focus Group Seven to ten people who participate in a group discussion led by a moderator. 3

  30. 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 3

  31. Types of Questions in Questionnaire Design 3

  32. Qualities of Good Questionnaires Clear and Concise No Ambiguous Language Unbiased Reasonable Terminology Questionnaire Design Online www.createsurvey.com 3

  33. Observation Research Observation Research A research method that relies on three types of observation: • people watching people • people watching an activity • machines watching people Online http://www.bmiltd.com 3

  34. Observational Situations 3

  35. People Watching People Mystery Shoppers One-Way Mirrors Types ofObservationResearch People Watching an Activity Audits Machines WatchingPeople Traffic Counters Passive People Meter Observation Research 3

  36. Sample A subset from a large population. Universe The population from which a sample will be drawn. Sampling Procedure 3

  37. 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. Probability Samples 3

  38. 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. Nonprobability Samples 3

  39. Sample Universe Probability Samples Non-Probability Samples Sampling Procedure 3

  40. Measurement Error Error when there is a difference between the information desired and the information provided by research Error when a sample somehow does not represent the target population. Sampling Error Error when a sample drawn from a population differs from the target population. Frame Error Error because the selected sample is an imperfect representation of the overall population. Random Error Types of Errors 3

  41. Field Service Firm Field Service Firm A firm that specializes in interviewing respondents on a subcontracted basis. 3

  42. Field Service Firms Provide: • Focus group facilities • Mall intercept locations • Test product storage • Kitchen facilities • Retail audits 3

  43. Cross-Tabulation Cross-Tabulation 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. 3

  44. Preparing and Presenting the Report • Concise statement of the research objectives • Explanation of research design • Summary of major findings • Conclusion with recommendations 3

  45. 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? 3

  46. Steps in Market Research 3

  47. Learning Objective Discuss the profound impact of the Internet on marketing research 4 4

  48. 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 research easier • Slashes labor- and time-intensive research activities 4

  49. Internet Usage Worldwide, 2007 4

  50. Rapid development, Real-time reporting Reduced costs Personalized questions and data Improved respondent participation Contact with the hard-to-reach Advantages of Internet Surveys 4

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