Download MA 4.06

4.06 Acquire foundational
knowledge of marketinginformation management to
understand its nature and scope.
MIM Vocabulary
Define the following terms: marketing information,
marketing-information management system, and
marketing research.
 Marketing Information
 Information gleaned from talking with the customer
 Marketing-Information Management System
 Method for collecting and analyzing/interpreting data
 Marketing Research
 Methodology for discovering the customer’s wants and
___________– links consumer, customer and public to
marketer
Marketing Information
Management (MIM)
 Classify types of marketing information as
primary or secondary.
 Primary is information the company
collects directly from its own surveys –
first time collected; expensive
 Secondary is information the company
collects from other sources (libraries,
online, Federal publications, etc.) – desk
research – already exists
Marketing Information
Management (MIM)
 Types of MIM
 Attitude Research – opinion research = feelings
 Market Research – info related to marketing a
good/service


Sales Forecasting = project future sales
Economic Forecasting = predict economic future
 Media Research – media selection & frequency (media
mix)

Researching print advertisements, broadcast media, online
 Product Research – product design, packaging, usage
 New product acceptance
 Existing product research
MIM
 Categorize internal sources of marketing information.
 Customer surveys – show location of company’s market
 Sales people feedback
 Database of customers and their purchases
 ________________ reports
 Inventory reports
 __________________ records
 Discuss external sources of marketing information.
 Federal/State/Local __________________
 Published reports from other sources (______________,
industry research, news sources)
 Trade reports
Marketing Research Case Study
 Get with your 3 o’clock appointment – One person pick up
“Marketing-Research Case Studies” - LABEL PAPER-------- Answer the following questions on a SEPARATE PIECE OF
PAPER using case study; write each question below before
answering:
1. Who used the research findings?
2. How was the marketing research used (ex: to describe a
target market, to forecast sales and trends, etc)?
3. What was the research objective (ex: to explore current
situations, to define…)?
4. What internal sources of data were used?
5. What external sources of data were used?
6. Who collected data?
7. What recommendations were made based on findings?
 You have 20 minutes – have for notebook check
MIM
 Explain the functions of a marketing-information
management system.
 Collect accurate and useful data
 Analyze and interprets the data into usable information
 Shows trends and clearly explains why the market is the
way it is
 Builds strong, loyal customer relationships
 Helps the managers make good business decisions
(expand/delete a product line, enter new markets, set
pricing and service policies, etc._
END OF SEMESTER PROJECT
 Get into groups of 5 or 6
 Make sure you chose your groups wisely
b/c this will be worth TWO GRADES
 Take a seat with your group
 Get two papers per group
 Don’t LOSE rubric – points will be
deducted
 Listen to directions – NO TALKING
Warm up: 4.06 Review
Write complete question and choices on
paper & answer –
1.
How can using a database to track its customers'
preferences and buying habits help a business?
Decreases the need to analyze marketing activities
B. Obtains additional deductions for its semi-annual tax return
C. Reduces unnecessary operational expenses
D. Leads to repeat customers and forms relationships
A.
2. What is the difference between Marketing Information,
MIM systems, and Marketing Research (do not just copy
the definition – should be in your own words)?
MIM System
 Describe limitations of marketing-information
management systems
 Cost effectiveness: Benefits of the information must be
greater than the expenses of the MIM system – small
businesses can’t afford the expense
 Significant investment of time and money
 The information being managed is only as good as what
is collected and how it is analyzed (Garbage In, Garbage
Out - GIGO)
Credibility and Ethics
 Describe the importance of credibility and objectivity
in marketing-information management.
 Credibility is whether the data can be trusted - Is it
accurate?
 Objectivity addresses whether there is bias in what is
collected


Do we show all the information, even the stuff that makes our
past decisions look bad?
Do we only collect information that supports our goals or
points of view?
 The integrity of the data is critical to its accurate analysis
and interpretation
 What could throw off the credibility of results?
Ethics in MIM
 Explain types of ethical conflicts in marketing-
information management.
 Keeping collected information confidential
 Corporate spying is illegal and immoral
 A company is allowed to use published data about
competitors that is available for public use
 Information collected by the company must be
protected from inappropriate use or distribution
 Information collected from research surveys taken for
one specific purpose (i.e. consumer credit) may not be
used for marketing campaigns (i.e. direct mail)
 Use of “cookies”- trackers websites viewed
Activity: What would you do?
You will get a serious of
ethical situations
Discuss with your TABLE
what you think?
Technology
 Identify ways that the use of technology/internet impacts
the marketing-information management function or tracks
and monitors customer website activities
 Makes it easier to collect and store certain information
 Information can be analyzed using specialized software
 Many more details can be tracked
 Use of “cookies”
 Accurate count of hits to a website
 When developing new software for MIM it should be
software that takes minimum training for employees
On the same paper labeled
“warm up 4.03 review” from yesterday, write
complete question and choices on paper &
answer
3. Which characteristic of useful marketing information
is represented by the statement "The benefits of
using the information should be greater than the
expense of gathering the data used to generate this
information"?
A.
B.
C.
D.
Timeliness
Accessibility
Relevancy
Cost-effectiveness
4. Why do many businesses place a cookie on a user’s
hard drive when the user visits the business’s web site?
A. To regulate the user's access to information
B. To make it easy for the user to find the web site
C. To track the number of times the user buys a
product
D. To guarantee that the web site is secure
Vocabulary 2
Define the following terms:
 Self-Regulation – The company or industry enforces its
own rules for interacting with its customers
 There aren’t any specific laws or government regulations
concerning that company’s or industry’s products; expelled
from associations as punishment.
 SUGGING
 Selling under the guise of a survey (research) - a product
marketer falsely pretends to be a market researcher
conducting a survey, when in reality they are simply trying to
sell the product in question
 FRUGGING
 Fundraising under the guise of a survey - a product marketer
falsely reports to be a market researcher conducting a
statistical survey, when in reality the "researcher" is
attempting to solicit a donation
5. What is an example of marketing information that a
business could gather by surveying its customers?
A. Planned product improvements
B. The company's current market share
C. Location of the company's market
D. Financial status of competitors
6. Which situation is an example of SUGGING?
A. A salesperson offers a customer the opportunity to
try an expensive product free of charge.
B. A telemarketer asks a customer if s/he knows
anyone who would want to buy a certain product.
C. A marketer tells a customer that s/he is conducting
research and then begins a sales pitch.
D. A business promotes a product by sending samples
to its customers without authorization.
Privacy
 Discuss privacy concerns associated with the
collection, storage, mining, and use of data
 All personal data must be protected from inappropriate
use
 Information collected for one purpose might be
ineligible for use in another purpose
 Certain data might not be allowed to be stored (i.e. SSN)
or might have to be encoded and separated from other
information
7. Why do marketers continue to gather information?
A. Today's consumers are easy to please
B. The marketing environment is constantly changing.
C. Marketers are decreasing their geographic scope.
D. Competition in general has decreased.
8. What is an important ethical issue involved with the
collection and use of marketing information?
A. Adaptability
B. Standardization
C. Confidentiality
D. Commercialization
Legal Issues
 Companies must be careful about collecting information
about children under __________ years old - personal
data must be very carefully handled
 Health Insurance Portability and Accountability Act
(HIPAA) enacted August 21, 1996 - It establishes
regulations for the use and disclosure of Protected
Health Information (PHI).
9. A major credit card company has hired a marketingresearch firm to conduct a survey regarding the use of
consumer credit. Would it be considered ethical to
use the database information collected in a direct
marketing campaign?
A. No, businesses should not undertake any non-
research activities involving data collected.
B. Yes, the consumers know surveys are just a way to get
information for advertising
C. No, the database is probably not a reliable source of
marketing information.
D. Yes, the credit card company paid for the research
and should be able to use it any way it wants.
10. How can researchers protect the integrity of the
marketing information they collect?
A. By organizing it logically
B. By reviewing it frequently
C. By publishing it openly
D. By interpreting it correctly
11. How can businesses use computerized databases to
sort and organize information about customers’
purchases, brand preferences and dollar amounts
spent?
A. To maintain sales strategies
B. To prepare financial reports
C. To develop inventory control plans
D. To customize its marketing efforts
Legal Issues
 Because financial institutions track personal
information that includes SSN and bank account
numbers, customer data must be protected from theft or
unauthorized use.
 Call back: ensuring that you are talking to the same
person who called in the request - do not give out
information to someone unauthorized to have it.
 Automated dialers are computers with speech
recognition software. A customer could inadvertently
give personal, protected, information that must then be
removed or stored separately
Activity 3
Get with your 6 o’clock
appointment
Try to answer the questions on
your bingo card.
You will have 20 minutes to
complete
MIM BINGO!
 Get a MIM Bingo Grid
 Get a colored marker to use as “chips” – use a different
marker color each round.
 RANDOMLY write each of the bottom terms or
phrases (on paper) in a box on the handout.
 Mark the “FREE” square
 I will read questions or statements from the guide –
after hearing each question, you should determine the
appropriate response and put a mark on the
corresponding square.
 The first person to mark five answers in a row, column,
or diagonally should shout “MIM” – get extra credit or
candy!