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Transcript
TURNING MARKETING INFORMATION INTO ACTION © 2002 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Marketing research questions asked in test screenings of movies and how they are used © 2002 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin THE ROLE OF MARKETING RESEARCH • What Marketing Research Is and Does • A Means of Reducing Risk and Uncertainty • Why Good Marketing Research is Difficult © 2002 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin THE ROLE OF MARKETING RESEARCH • Steps in Making Effective Decisions 1. 2. 3. 4. 5. Define the problem Develop the research plan Collect relevant information Develop findings Take marketing actions © 2002 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Marketing research process © 2002 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin STEP 1: DEFINE THE PROBLEM • Ask the “right” question - management • Set the Research Objectives • Identify Possible Marketing Actions Measures of success © 2002 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin STEP 2: DEVELOP THE RESEARCH PLAN • Specify Constraints • Identify Data needed for Marketing Actions • Determine How to Collect Data • Concepts • Methods Probability sampling Nonprobability sampling Statistical inference © 2002 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin STEP 3: Types of marketing information © 2002 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin STEP 3: COLLECT RELEVANT INFORMATION • Secondary Data • Internal Secondary Data • External Secondary Data • Advantages and Disadvantages of Secondary Data © 2002 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin STEP 3: COLLECT RELEVANT INFORMATION • Primary Data • Observational Data © 2002 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Nielsen People Meter Observational data © 2002 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Nielsen ratings of the top 10 national television programs from Jan 28, 2002 to Feb 3, 2002 © 2002 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Nielsen//NetRatings of the top 10 Internet websites from Jan 21, 2002 to Jan 27, 2002 © 2002 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin STEP 3: COLLECT RELEVANT INFORMATION • Primary Data • Questionnaire Data © 2002 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Typical problems in wording questions © 2002 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin STEP 3: COLLECT RELEVANT INFORMATION • Primary Data • Panels and Experiments • Advantages and Disadvantages of Primary Data © 2002 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin STEP 3: COLLECT RELEVANT INFORMATION • Using Information Technology to Trigger Marketing Actions • The Marketing Manager’s View of Sales “Drivers” © 2002 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Product and brand drivers: factors that influence sales © 2002 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin STEP 3: COLLECT RELEVANT INFORMATION • Using Information Technology to Trigger Marketing Actions • Key Elements of an Information System • The Challenge in Mining Marketing Data • Data Mining: A New Approach to Searching the Data Ocean © 2002 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin How marketing researchers and managers use information technology to turn information into action © 2002 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin STEP 4: DEVELOP FINDINGS • Analyze the Data • Present the Findings © 2002 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin STEP 5: TAKE MARKETING ACTIONS • Identify the Action Recommendations • Implement the Action Recommendations • Evaluate the Results © 2002 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin MARKET AND SALES FORECASTING • Basic Forecasting Terms • Market or Industry Potential • Sales or Company Forecast • Two Basic Approaches to Forecasting • Top-Down Forecast • Buildup Forecast © 2002 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Buildup approach to a two-quarter sales forecast for Apple Computer products © 2002 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin MARKET AND SALES FORECASTING • Specific Sales Forecasting Techniques Surveys of Knowledgeable Groups Survey of buyers’ intentions forecast Salesforce survey forecast Jury of executive opinion forecast Survey of experts forecast © 2002 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Linear trend extrapolation of sales revenues of Xerox made at the start of 1999 © 2002 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin