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Marketing-Information Management Chapter 05 Pages 120-143 Daily Agenda for the Week of April 04, 2011 04/04 Monday 5.1 The Need for Speedy Information Slides 1-17 04/05 Tuesday 5.2 The Marketing Research Process Slides 18-40 04/06 Wednesday 5.3 Managing the Information Slides 41-54 Daily Agenda 1. 5 minutes – Chapter 05 Quizlet 2. Complete Chapter 05 PowerPoint – assigned daily section 3. Post to Edmodo – Turn In on assigned day 4. Work on Project Proposal for The Marketing Event 1. See The Marketing Event PowerPoint All Chapter 05 work is to be completed independently. The Marketing Event is to be completed with your assigned group. Chapter Information Marketing Information Management 5.1 The Need for Speedy Information 5.2 The Marketing Research Process 5.3 Managing the Information Marketing-Information Management Concept Map of Unit Key Learning(s) Unit Essential Question • Marketing-Information Management (MIM) • Understand how marketing-information management effects the product life cycle and consumer. • How does marketing –information management effect the consumer and product? 5.1 Pages 122-125 Monday, April 4, 2011 THE NEED FOR SPEEDY INFORMATION 5.1 The Need for Speedy Information Lesson Essential Questions Vocabulary • What is the purpose of marketing-information management? • Why do businesses need marketing information? • What careers are found with marketing-information management? • What are some of the job functions of a marketing researcher? • Syndicated research • Polls • Engaged customers • Client-side researchers Reaching For Data Who is Buying? Engaging Customers Intermission – Page 123 Why do businesses need marketing information? •Answer Careers in Marketing Research Marketing Research Firms On the Job Intermission – Page 124 Describe some of the job functions of a marketing researcher. • Answer 5.1 The Need for Speedy Information - LEQs What is the purpose of marketing-information management? • Answer Why do businesses need marketing information? • Answer 5.1 The Need for Speedy Information - LEQs What careers are found with marketinginformation management? • Answer What are some of the job functions of a marketing researcher? • Answer 5.1 Encore: Think Critically Why would presentation skills be important to a marketing research director? • Answer Provide two examples of how presentation skills might be used in the position. • Answer 5.1 Encore: Think Critically Are there sports teams to which you are totally loyal? If so, whom? • Answer Or, do you lose interest and make fewer teamrelated purchases when the team is not winning? • Answer Describe some possible strategies for keeping fans “engaged” during team losing streaks. • Answer 5.2 Pages 126-132 Tuesday, April 5, 2011 THE MARKETING RESEARCH PROCESS 5.2 The Marketing Research Process Lesson Essential Questions Vocabulary • What are the steps involved in marketing research? • How is market research different from marketing research? • What are the human factors in marketing research? • What are the reasons for potential conflict between sales managers and marketing research managers? • Market research • Explatory research • Desk research • Descriptive research • Casual research • Sample • Price points Steps in Marketing Research How It’s Done 1. Discover and Define the Problem 2. Analyze Current Conditions 3. Develop the Process for Data Collection 4. Collect the Data 5. Analyze and Report the Data 6. Determine a Solution to the Problem 7. Implement and Evaluate the Results Intermission – Page 129 Explain how market research is different from marketing research. • Answer The Human Factor Research Sophistication Reducing Conflict Ethical Research What’s in It for Me? Worldwide Data Intermission – Page 131 Briefly describe the reasons for potential conflict between sales managers and marketing research types. • Answer 5.2 The Marketing Research Process - LEQs What are the steps involved in marketing research? • Answer How is market research different from marketing research? • Answer 5.2 The Marketing Research Process - LEQs What are the human factors in marketing research? • Answer What are the reasons for potential conflict between sales managers and marketing research managers? • Answer 5.2 Encore: Think Critically Write a paragraph explaining why defining the problem is critical to the marketing research process. • Paragraph Answer 5.2 Encore: Think Critically Movie theaters often charge more for popcorn and a drink than they charge for a movie ticket. Is there a point at which moviegoers will not buy refreshments because of the price? • Answer How can theaters know the price point at which demand is the highest? • Answer Describe how the price point may be determined. • Answer 5.3 Pages 133-137 Wednesday, April 6, 2011 MANAGING THE INFORMATION 5.3 Managing the Information Lesson Essential Questions Vocabulary • What are options for electronic data collection? • Why do people often resent the collection of personal data? • What is the concept of data-driven decisions? • Why does Google improve the ranking of ads that get the most clicks? • Data mining • Cookie • Click-through rate Collection of Data Data Mining Cookies Anyone? Consumer Privacy Intermission – Page 135 Why do people often resent the collection of personal data? • Answer Data-Driven Decisions Ranking the Ads Intermission – Page 136 Why does Google improve the ranking of ads that get the most clicks? • Answer 5.3 Managing the Information LEQs What are options for electronic data collection? Why do people often resent the collection of personal data? • Answer • Answer 5.3 Managing the Information LEQs What is the concept of data-driven decisions? • Answer Why does Google improve the ranking of ads that get the most clicks? • Answer 5.3 Encore: Think Critically Think about the ways marketers collect data from customers. Is there a difference in collecting data from volunteers as opposed to unknowing consumers? • Answer Explain ethical issues and privacy concerns. • Answer What boundaries do you believe should be set? • Answer 5.3 Encore: Think Critically Advertising tobacco products on television is prohibited. Why would market researches still want to collect data bout televised sports watched by smokers? • Answer