Download COURSE CONTENT 2.04 – Understanding data

COURSE CONTENT 2.04 – Understanding data-collection methods to evaluate their
appropriateness for the research problem/issue
I.
II.
Vocabulary
a. Marketing Information - data collected from internal or external sources or from marketing
research
b. Facts - something that actually exists; reality; truth
c. Estimates - an approximate judgment or careful calculation about the impact of a product
d. Predictions - a forecast of something to happen
e. Relationships – What happens to products, estimates or predictions based on changes
How to use MIM in SEM
a. determine potential customers
b. determine products & gauge interest
c. determine marketing opportunities
d. solve marketing problems
e. implement/measure effectiveness of marketing plans
f. monitor & improve marketing performance
g. make decisions about all marketing plans
h. identify trends to determine what changes are occurring in the marketplace
i. determine means to neutralize your competitors from gaining market share from you
III.
Additional uses of MIM
a. Be proactive with your customer base
i. Attract & maintain your target market by staying in touch with their ever-changing needs
b. Togetherness
i. Links the consumer, public and the marketer to provide better products and information
to analyze your marketing efforts
c. Marketing mix
i. Improve your understanding of marketing as a process for your product
d. Competition
i. Beat them at their game!
IV.
Sport Marketers should ask?
a. Who consumes our product?
b. Who decides on the purchase?
c. Who consumes our competitors’
products?
d. What products compete with ours?
e. What products complement ours?
V.
What you can learn from Data
a. General Market Data
i. Size of Market
ii. Demographics
iii. Purchase Behaviors
iv. Future Trends
v. Spectatorship or Participation Level
b. Individual Consumer Data
i. Names and Numbers
ii. Product Usage (Frequency)
f. What are the key benefits sought by
consumers?
g. When do consumers buy?
h. Why do consumers buy?
i. How do consumers consume our
product?
iii. Method of Payment
iv. Pattern of Consumption
VI.
Sources of Data
a. Primary Sources
i. Primary sources are original materials
ii. Examples:
1. Interviews
2. Newspaper articles
3. Focus Groups
4. Polls & Surveys
5. Sampling
b. Secondary Sources
i. Information generated after reviewing primary data
ii. Conclusions you make from primary data
iii. Examples:
1. Reports
2. Summary
3. Recommendations
c. Internal
i. Within organization info
ii. Examples:
1. Sales Records
2. Accounting Records
d. External
i. Outside organization info
ii. Examples:
1. Census Reports
2. Public Libraries
3. State Agencies
4. Chamber of Commerce
e. Qualitative Data
i. Deals with descriptions.
ii. Data can be observed but not measured.
iii. Examples:
1. Colors, textures, smells, tastes, appearance, beauty, etc.
iv. Qualitative → Quality
f. Quantitative Data
i. Deals with numbers.
ii. Data which can be measured.
iii. Examples:
1. Length, height, area, volume, weight, speed, time, temperature, humidity, sound
levels, cost, members, ages, etc.
iv. Quantitative → Quantity
VII.
Types of Data:
a. Internal Reports
i. Request and Complaint Reports - A record of customers and the product(s) that they
requested, along with records of complaints made by customers.
ii. Lost Sales Reports – returns, damages or refusals
iii. Call Report - records of sales people’s meeting or contact with customers
iv. Activity Report - reports requiring salespeople to provide details (such as number of
calls made, new accounts opened, displays arranged, dealer sales meetings attended and
so on) as a measure of their activity in a given sales period.
b. External Reports
i. All marketing information (internal & external) must be objective & accurate data
collected in an organized & systematic manner
ii. Types
1. Customer Information
2. Marketing mix
3. Business Environment
VIII.
IX.
X.
XI.
Data – Customer Information
a. Age
b. Gender
c. Income
d. Education
e. Family size
f. Home ownership
g. Address
h. Occupation
i. How money is
spent
j. Attitudes
k. Primary needs
l. Product
purchases
m. Purchase
frequency
n. Brand
preferences
o. Information
needs
p. Media
preferences
q. Shopping
behavior
r. Feedback
s. Expectations
Data – MarketingMix (4 P’s)
a. Data can be used to determine your Marketing Mix
b. Product
i. Basic Product Type
ii. Product Features
iii. Good or Service
iv. Packaging
c. Price
i. Credit Choice
ii. Discounts
iii. Market
d. Place
i. Distribution
ii. Selling Locations
e. Promotion
i. Promotion Methods
ii. Promotion Timing
Data – Business Environment
a. Type of competition –
direct/indirect/price
b. Competitors’ strengths & strategies visit them to gain data - use mystery
shopper
c. Economic conditions
d. Government policies
Why do Marketers use external data?
a. Economical
e.
f.
g.
h.
i.
j.
k.
New technology
Consumer protection
Ethical issues
Tax policies
Proposed laws
International markets
Risk Management
b.
c.
d.
e.
XII.
Efficient
Provides a basis for comparison
Fills in the gaps in primary information
Improves understanding of the problem
E-Marketers
a. Use external information to help guide their efforts
b. Use digital customer information such as clickstream data
c. Gives webmasters a view of what users are viewing
d. Raises serious security concerns
e. Data sold as a way to increase revenue