Chapter 13: Marketing Research

Marketing Information and Customer Insights
to gain good customer insights, marketers must effectively manage marketing information from a wide range of sources. Most marketing managers are overloaded with data
customer insights
are the real value of marketing research
marketing information systems
people and procedures dedicated to assessing information needs, developing information, and helping decision makers use the information to generate and validate actionable customer and market insights
functions of marketing info systems
1. Assess information needs 2. Develop needed information 3. Analyze and use information 4. Assessing Marketing Information Needs
Assessing Marketing Information Needs
It is important to carefully assess market information because too much information can be as harmful as too little
internal databases
electronic collections of consumer and market information obtained from data sources within the company’s network they are a) quick and cheap information sources for a company and b) the data is usually collected for purposes other than marketing so it may be dated or incomplete
competitive marketing intelligence
the systematic collection and analysis of publicly available information about consumers, competitors, and developments in the market
Marketing Research Process
1. Define the problem and research objectives 2. Developing the research plan for collecting information 3. Implementing the research plan—collecting and analyzing the data 4. Interpreting and reporting the findings
marketing research
the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization
Research objectives
3 types: 1. Exploratory 2. Descriptive 3. Casual
Exploratory research
gathering preliminary information that will help define the problem and suggest hypotheses
Descriptive research
describing the components of the market research
Casual research
testing hypotheses about cause-and-effect relationships
Developing the research plan
the research plan outlines sources of existing data (secondary) and spells out the specific methods for gathering new data (primary)
secondary data
usually collected through the company’s internal database or on the web
research approaches to primary data
observational/ethnographic, survey, experimental
observational research
gathering primary data by observing relevant people,
ethnographic research
involves sending observers to watch and interact with consumers in their “natural environments”
experimental research
used to gather casual information
Primary research contact methods
1. Mail, telephone, and personal interviewing 2. Online marketing research
Types of mail/phone/personal interviewing
focus group interviewing, personal interviewing
Types of online marketing research
internet surveys, online panels, experiments, online focus groups, online brand communities
Designing a sampling plan
3 steps: 1. WHO is going to be studied (sampling unit) 2. HOW MANY people should be included (sample size) 3. HOW should the people in the sample be chosen (sampling procedure)
Types of sampling procedures
a) probability: simple random, stratified random, cluster b) nonprobability: convenience, judgment, quota
sample
a segment of the population selected for a study
types of research instruments
1. questionnaires 2. mechanical instruments
Implementing the Research Plan
collecting, processing, and analyzing the information
Interpreting and Reporting the Findings
Present the findings in a simple way and highlight the insights. Do not leave anything up for interpretation; make conclusions clear
Customer Relationship Management
manages detailed information about individual customers and carefully manages customer touch points to maximize customer loyalty
Distributing and Using Marketing Information
it is important for all of the information on customer insights to be available to the managers. Ways include: intranet, extranet application systems