Download Secondary Data

CHAPTER
TURNING
MARKETING
INFORMATION
INTO ACTION
© 2004 McGraw-Hill Companies, Inc., McGraw-Hill Ryerson
Slide 8-2
PUT FIGURE FROM PAGE 166 HERE
© 2004 McGraw-Hill Companies, Inc., McGraw-Hill Ryerson
AFTER READING THIS CHAPTER
YOU SHOULD BE ABLE TO:
• Understand the importance of market
information to companies, and the
challenges and issues with acquiring and
implementing a well-functioning
information system.
• Comprehend the use and benefits of a
marketing information system and
market intelligence.
© 2004 McGraw-Hill Companies, Inc., McGraw-Hill Ryerson
AFTER READING THIS CHAPTER
YOU SHOULD BE ABLE TO:
• Describe a step-by-step approach to
conducting market research.
• Explain how secondary and primary data
are used in marketing.
© 2004 McGraw-Hill Companies, Inc., McGraw-Hill Ryerson
AFTER READING THIS CHAPTER
YOU SHOULD BE ABLE TO:
• Explain the uses of market research
instruments such as questionnaires,
observations, experiments, and panels.
• Comprehend alternative methods to
forecast sales and use basic methods to
generate a simple forecast.
© 2004 McGraw-Hill Companies, Inc., McGraw-Hill Ryerson
MARKETING INFORMATION
REQUIREMENTS AND SYSTEMS
I.
MARKETING INFORMATION SYSTEM
MARKETING
INTELLIGENCE
MARKETING
RESEARCH
COMPETITIVE
INTELLIGENCE
© 2004 McGraw-Hill Companies, Inc., McGraw-Hill Ryerson
THE ROLE OF
MARKETING RESEARCH
II.
• What is Marketing Research?
 Marketing Research
• Challenges in Marketing Research
• Types of Research Information
• Exploratory, Descriptive, Causal
• Steps in the Marketing Research
Approach
© 2004 McGraw-Hill Companies, Inc., McGraw-Hill Ryerson
III.
STEPS IN THE MARKETING
RESEARCH APPROACH
FIGURE 8-1 The basic marketing research process
PUT FIGURE 8-1 HERE
© 2004 McGraw-Hill Companies, Inc., McGraw-Hill Ryerson
STEP 1: DEFINE THE PROBLEM
• Establish Research Objectives
 Objectives
• Identify Possible Marketing Actions
 Measures of Success
© 2004 McGraw-Hill Companies, Inc., McGraw-Hill Ryerson
STEP 2: DESIGN THE RESEARCH
PLAN
• Identify Data Required and Sources of
Data
• Design Methods of Collection
 Concepts
 Methods
• Hypothesis
• Data
• Secondary
• Primary
© 2004 McGraw-Hill Companies, Inc., McGraw-Hill Ryerson
FIGURE 8-2 Types of marketing
information
PUT FIGURE 8-2 HERE
© 2004 McGraw-Hill Companies, Inc., McGraw-Hill Ryerson
STEP 3: CONDUCT EXPLORATORY
RESEARCH
• Focus Groups
• Moderator
• Observers
• Participants
• Depth Interviews
• Secondary Data
© 2004 McGraw-Hill Companies, Inc., McGraw-Hill Ryerson
STEP 3: CONDUCT EXPLORATORY
RESEARCH (continued)
• Secondary Data
 Secondary Data: Internal
 Secondary Data: External
 Advantages and Disadvantages of
Secondary Data
 Performing a Situation Analysis
© 2004 McGraw-Hill Companies, Inc., McGraw-Hill Ryerson
STEP 4: COLLECT PRIMARY
RESEARCH INFORMATION
• Primary Data: Observing Behavior
 Mechanical and Electronic Observation
• Observational Data
 Personal Observation
© 2004 McGraw-Hill Companies, Inc., McGraw-Hill Ryerson
FIGURE 8-4 Nielsen ratings of the top 10
national television programs from
January 27, 2003 through February 2, 2003
© 2004 McGraw-Hill Companies, Inc., McGraw-Hill Ryerson
STEP 4: COLLECT PRIMARY
RESEARCH INFORMATION (cont.)
• Primary Data: Questioning Consumers
• Questionnaire Data
• Primary Data: Panels and Experiments
• Panel
• Experiment
• Test Markets
• Advantages and Disadvantages of
Primary Data
© 2004 McGraw-Hill Companies, Inc., McGraw-Hill Ryerson
FIGURE 8-5 Typical problems in wording
questions
© 2004 McGraw-Hill Companies, Inc., McGraw-Hill Ryerson
FIGURE 8-6
How do the techniques compare?
INSERT FIGURE 8-6 FROM PAGE 182
© 2004 McGraw-Hill Companies, Inc., McGraw-Hill Ryerson
STEP 5: COMPILE, ANALYZE AND
INTERPRET DATA
DATA
INFORMATION
© 2004 McGraw-Hill Companies, Inc., McGraw-Hill Ryerson
STEP 6: GENERATE REPORT AND
RECOMMENDATIONS
• Presenting the Findings
• Making Recommendations
© 2004 McGraw-Hill Companies, Inc., McGraw-Hill Ryerson
IV.
OTHER CONSIDERATIONS IN
MARKETING RESEARCH
• Sampling
• Probability
• Non-Probability
• The Internet as a Research Tool
• Making the Most of Internet
Technology
© 2004 McGraw-Hill Companies, Inc., McGraw-Hill Ryerson
FIGURE 8-7 Today’s marketing managers use
information from many marketing factors
PUT FIGURE 8-7 FROM PAGE 185 HERE
© 2004 McGraw-Hill Companies, Inc., McGraw-Hill Ryerson
V.
SALES FORECASTING
TECHNIQUES
• Sales Forecasting
• Judgments of the Decision Maker
• Direct Forecast
• Lost-Horse Forecast
• Surveys of Knowledgeable Groups
• Buyers Intentions
• Salesforce Survey
• Statistical Methods
• Linear Trend Extrapolation
© 2004 McGraw-Hill Companies, Inc., McGraw-Hill Ryerson
FIGURE 8-8 Linear trend extrapolation of
sales revenues of Xerox, made at the start
of 1999
© 2004 McGraw-Hill Companies, Inc., McGraw-Hill Ryerson
Marketing Research
“Marketing research is the process of
defining a marketing problem and
opportunity, systematically collecting
and analyzing information, and
recommending actions to improve an
organization’s marketing activities.”
© 2004 McGraw-Hill Companies, Inc., McGraw-Hill Ryerson
Objectives
“Objectives are specific, measurable
goals the decision maker seeks to
achieve in solving a problem.”
© 2004 McGraw-Hill Companies, Inc., McGraw-Hill Ryerson
Measures of Success
“Measures of success are criteria used
in evaluating proposed solutions
to the problem.”
© 2004 McGraw-Hill Companies, Inc., McGraw-Hill Ryerson
Data
“Data are the facts and figures related
to the problem, and are divided into
two main parts: secondary data and
primary data.”
© 2004 McGraw-Hill Companies, Inc., McGraw-Hill Ryerson
Focus Group
“A focus group is a research technique
where a small group of people meet
for a few hours with a trained
moderator to discuss topics
surrounding the marketing research
problem.”
© 2004 McGraw-Hill Companies, Inc., McGraw-Hill Ryerson
Secondary Data
“Secondary data are the facts and
figures that have already been
recorded before the project at hand.”
© 2004 McGraw-Hill Companies, Inc., McGraw-Hill Ryerson
Primary Data
“Primary data are the facts and figures
that are newly collected for a project.”
© 2004 McGraw-Hill Companies, Inc., McGraw-Hill Ryerson
Observational Data
“Observational data are facts and
figures obtained by watching, either
mechanically or in person, how people
actually behave.”
© 2004 McGraw-Hill Companies, Inc., McGraw-Hill Ryerson
Questionnaire Data
“Questionnaire data are facts and
figures obtained by asking people
about their attitudes, awareness,
intentions, characteristics and
behaviors.”
© 2004 McGraw-Hill Companies, Inc., McGraw-Hill Ryerson
Sales Forecast
“Sales forecast refers to the total sales
of a product that a firm expects to sell
during a specified time period under
specified environmental conditions
and its own marketing efforts.”
© 2004 McGraw-Hill Companies, Inc., McGraw-Hill Ryerson