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Managing Marketing Information To Gain Customer Insights Chapter 4 Rest Stop: Previewing the Concepts • Explain the importance of information in • • gaining insights about the marketplace and customers Define the marketing information system and discuss its parts Outline the steps in the marketing research process 4-2 Rest Stop: Previewing the Concepts • Explain how companies analyze and use • marketing information Discuss the special issues some marketing researchers face, including public policy and ethics issues 4-3 First Stop: Domino’s Pizza • Declining revenues prompt Domino’s to ask customers for honest feedback • Gains insights from social media and focus groups • Discovers that main problem is taste • Reinvents its product, launches “Pizza Turnaround” campaign • Result – Increased sales and profits 4-4 Marketing Information and Customer Insights • Consumer needs and motives for buying are difficult to determine • Online sources give marketers abundant data about consumer behavior • Challenge for companies is to make better use of information to gain customer insights • Firms use customer insights to develop a competitive advantage 4-5 Customer insights • Fresh understandings of customers and the marketplace derived from marketing information that becomes the basis for creating customer value and relationships 4-6 Marketing information system • People and procedures dedicated to assessing information needs, developing the needed information, and helping decision makers to use the information to generate and validate actionable customer and market insights 4-7 Figure 4.1 - The Marketing Information System 4-8 Assessing Information Needs • A good MIS balances the information users would like against what they really need • Collecting and storing information using a MIS is expensive • Firms must decide whether the value of the insights gained from more information is worth the cost 4-9 Internal databases • Electronic collections of consumer and market information obtained from data sources within the company network Internal Data • Can be accessed more quickly and cheaply than other information sources • Ages rapidly and may be incomplete • Maintenance and storage of data is expensive , Financial services provider USAA uses its extensive database to tailor its services to the specific needs of individual customers, creating incredible loyalty 4 - 11 Competitive marketing intelligence • The systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketing environment Competitive Marketing Intelligence • Techniques include: • • • • • Observing consumers Quizzing the company’s own employees Benchmarking competitors’ products Monitoring Internet buzz Actively monitoring competitors’ activities • Companies also take steps to protect their own information Marketing research • The systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization , 4 - 14 Figure 4.2 - The Marketing Research Process , 4 - 15 Defining the Problem and Research Objectives Exploratory research • Gathering preliminary information that will help define the problem and suggest hypotheses Descriptive research • Generating information to better describe marketing problems, situations, or markets , Causal research • Testing hypotheses about causeand-effect relationships 4 - 16 The Research Plan • Should be presented as a written proposal • Should cover: • • • • • • The management problems addressed Research objectives Information to be obtained How results will help decision-making Estimated research costs Type of data required (Primary or secondary) 4 - 17 Secondary data • Information that already exists somewhere, having been collected for another purpose , 4 - 18 Secondary Data • Common sources of secondary data: • Internal company databases • Commercial online databases • Internet search engines • Cheaper to obtain than primary data • Can be collected faster than primary data , 4 - 19 Primary data • Information collected for the specific purpose at hand Primary Data • Designing a primary data collection plan involves making decisions about: • The research approach • Observation, survey, or experiment • Contact methods • Mail, telephone, personal, or online • The sampling plan • Sampling unit, sample size, and sampling procedure • Research instruments , 4 - 21 Observational research • Gathering primary data by observing relevant people, actions, and situations Ethnographic research • A form of observational research that involves sending trained observers to watch and interact with consumers in their natural environments Observational Research • Can obtain information that people are unwilling or unable to provide • Cannot be used to observe feelings, attitudes, and motives, and long-term or infrequent behaviors , 4 - 23 Ethnographic Research Kraft Canada sent out high-level executives to observe actual family life in diverse Canadian homes. Videos of their experiences helped marketers and others across the company to understand the role Kraft’s brands play in people’s lives Marketing at Work • By entering the customer’s world, ethnographers can scrutinize how customers think and feel as it relates to their products To better understand the challenges faced by elderly shoppers, this Kimberly-Clark executive tries to shop while wearing visionimpairment glasses and bulky gloves that simulate arthritis Survey research • Gathering primary data by asking people questions about their knowledge, attitudes, preferences, and buying behavior Experimental research • Gathering primary data by selecting matched groups of subjects, giving them different treatments, controlling related factors, and checking for differences in group responses , 4 - 27 Contact Methods – Mail Questionnaires • Pros • Large amounts of information at a relatively low cost per respondent • Enables more honest responses than interviews • Absence of interviewer bias • Cons • Inflexible, low response rate • Researcher has little control over sample , 4 - 28 Contact Methods - Telephone Interviewing • Pros • Gathers information fast, high response rate • Allows greater flexibility than mail surveys • Strong sample control • Cons • Higher costs than mail questionnaires • Interviewer may bias results • Limited quantity of data can be collected , 4 - 29 Contact Methods – Personal Interviewing • Pros • Highly flexible method that can gather a great deal of data from a respondent • Good control of sample, speed of data collection, and response rate • Cons • High cost per respondent • Subject to interviewer bias , 4 - 30 Focus Groups • Involve inviting six to ten people to gather for a few hours with a trained interviewer to talk about a product, service, or organization Lexus general manager Mark Templin hosts “An Evening with Lexus” dinners with luxury car buyers to figure out why they did or didn’t become Lexus owners Online marketing research • Collecting primary data online through Internet surveys, online focus groups, Web-based experiments, or tracking consumers’ online behavior Contact Methods – Online Marketing Research • Pros • Speed and low costs • Lowest cost per respondent of all contact methods; offers excellent sample control • Good flexibility and response rate due to interactivity • Cons • Difficulty in controlling sample , 4 - 33 Contact Methods – Online Marketing Research • The Internet is well suited to quantitative research • Its low cost puts online research well within the reach of almost any business, large or small , Thanks to survey services such as Zoomerang, almost any business, large or small, can create, publish, and distribute its own custom surveys in minutes 4 - 34 Online Focus Groups • Gathering a small group of people online with a trained moderator to chat about a product, service, or organization and gain qualitative insights about consumer attitudes and behavior Channel M2 “puts the human touch back into online research” by assembling focus group participants in people-friendly “virtual interview rooms” Marketing at Work • Marketers watch what consumers say and do online, then use the resulting insights to personalize online shopping experiences Sample • A segment of the population selected for marketing research to represent the population as a whole , 4 - 37 Sampling Plan • Sampling requires three decisions: • Who is to be studied (sampling unit) • How many people should be included (sample size) • How should the people in the sample be chosen (sampling procedure) , 4 - 38 Probability Each population member has a known chance sample of being included in the sample • Simple random sample • Stratified random sample • Cluster (area) sample Nonprobability sample Sampling error cannot be measured • Convenience sample • Judgment sample • Quota sample Research Instruments • Questionnaires • Closed-end questions include all the possible answers, and subjects make choices among them • Open-end questions allow respondents to answer in their own words • Mechanical devices • People meters, checkout scanners, neuromarketing , 4 - 40 Mechanical instruments • To find out what ads work and why, Disney researchers use an array of devices to track eye movement, monitor heart rates, and measure other physical responses , 4 - 41 Implementing the Research Plan • Collecting the data • Most expensive phase • Subject to error • Processing the data • Check for accuracy • Code for analysis • Analyzing the data • Tabulate results • Compute statistical measures , 4 - 42 Interpreting and Reporting Findings • Interpret the findings • Draw conclusions • Report to management • Present findings and conclusions that will be most helpful to decision making , 4 - 43 Customer Relationship Management (CRM) • Managing detailed information about individual customers and carefully managing customer touch points to maximize customer loyalty • Helps firms offer better customer service • Helps identify high-value customers • Enhances the firm’s ability to cross-sell products and develop offers tailored to customers , 4 - 44 Distributing and Using Marketing Information • Marketing information systems (MIS) must make information readily available for decision-making: • Routine information for decision making • Nonroutine information for special situations • Intranets and extranets facilitate the information sharing process , 4 - 45 Other Marketing Information Considerations • Small businesses and nonprofit organizations can benefit from marketing research insights • International marketing research is growing, but presents unique challenges , Some of the largest research services firms have large international organizations. ACNielsen, for example, has offices in more than 100 countries 4 - 46 Public Policy and Ethics in Marketing Research • Intrusions on consumer privacy • The Marketing Research Association’s “Your Opinion Counts” and “Respondent Bill of Rights” initiatives • Adopting standards that outline researchers’ responsibilities to respondents • Misuse of research findings • Development of codes of research ethics and standards of conduct , 4 - 47 Rest Stop: Reviewing the Concepts • Explain the importance of information in • • gaining insights about the marketplace and customers Define the marketing information system and discuss its parts Outline the steps in the marketing research process 4 - 48 Rest Stop: Reviewing the Concepts • Explain how companies analyze and use • marketing information Discuss the special issues some marketing researchers face, including public policy and ethics issues 4 - 49 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Printed in the United States of America. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall 4 - 50