Chapter 4
MANAGING MARKETING INFORMATION
TO GAIN CUSTOMER INSIGHTS
DEVELOPING MARKETING INFORMATION
Marketer can obtain information from:
internal data
marketing
intelligence
marketing research
INTERNAL DATA
Collections of consumer and market information
obtained from data sources within the company
network
Examples:
- The marketing department furnishes information on
customer characteristics, in-store and online sales
transactions, and web and social media site visits.
- The customer service department keeps records of
customer satisfaction or service problems.
- The accounting department provides detailed records
of sales, costs, and cash flows.
INTERNAL DATA
Harnessing such information can
provide powerful customer insights and
competitive advantage
can be accessed more quickly and
cheaply than other information sources,
but they also present some problems.
( incomplete, wrong form, more efforts,
required highly sophisticated
equipments and technique)
COMPETITIVE MARKETING INTELLIGENCE ( TIẾP THỊ
THÔNG MINH MANG TÍNH CẠNH TRANH)
The systematic monitoring, collection, and
analysis of publicly available information
about consumers, competitors, and
developments in the marketing
environment.
to improve strategic decision making by
understanding the consumer environment,
assessing and tracking competitors’
actions, and providing early warnings of
opportunities and threats
COMPETITIVE MARKETING INTELLIGENCE
CMI can help marketers gain insights into
how consumers talk about and engage with
their brands
Firms use competitive marketing
intelligence to gain early insights into
competitor moves and strategies and to
prepare quick responses ( Samsung and
apple)
The growing use of marketing intelligence
also raises ethical issues.
MARKETING RESEARCH
The systematic design, collection, analysis,
and reporting of data relevant to a specific
marketing situation facing an organization
gives marketers insights into customer
motivations, purchase behavior, and
satisfaction
assess market potential and market share or
measure the effectiveness of pricing,
product, distribution, and promotion
activities ( 4 Ps)
MARKETING RESEARCH PROCESS
DEFINING PROBLEMS AND RESEARCH OBJECTIVES
The most difficult but important step
A marketing research project might
have one of three types of objectives
exploratory
research
descriptive
research
causal research
DEFINING PROBLEMS AND RESEARCH OBJECTIVES
exploratory research : Marketing research to
gather preliminary information that will help
define problems and suggest hypotheses.
Descriptive research: Marketing research to
better describe marketing problems, situations,
or markets, such as the market potential for a
product or the demographics and attitudes of
consumers
Causal research: Marketing research to test
hypotheses about cause-and-effect
relationships
DEVELOPING RESEARCH
The research plan:
- Outlines sources of existing data
- Spells out the specific research
approaches, contact methods,
sampling plans, and instruments that
researchers will use to gather new data
WRITTEN RESEARCH PLAN SHOULD INCLUDE
PRIMARY AND SECONDARY DATA
Secondary data: Information that
already exists somewhere, having been
collected for another purpose.
primary data : Information collected for
the specific purpose at hand.
SOURCES OF SECONDARY DATA
Organization’s database
Accounting records
Competitive information
Trade associations
Periodicals
Gov’t publications
Unpublished sources
Online databases
SECONDARY DATA: PROS AND CONS
Pros
- - Can be obtained more quickly and at a lower cost
than primary data.
- - Can sometimes provide data an individual company
cannot collect on its own
Cons:
- The researcher must evaluate secondary information
carefully to make certain it is relevant (fits the
research project’s needs), accurate (reliably collected
and reported), current (up-to-date enough for current
decisions), and impartial (objectively collected and
reported).
PRIMARY DATA- PLANNING PRIMARY DATA
COLLECTION
MARKET RESEARCH – RESEARCH APPROACHES
Observational research involves
gathering primary data by observing
relevant people, actions, and situations
Ethnographic research involves
sending trained observers to watch and
interact with consumers in their natural
environment
MARKET RESEARCH- SURVEY
RESEARCH
Survey research is the most widely used
method and is best for descriptive
information—knowledge, attitudes,
preferences, and buying behavior
• Flexible
• People can be unable or unwilling to
answer
• Gives misleading or pleasing answers
• Privacy and confidentiality concerns
EXPERIMENTAL RESEARCH
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.
Focus group Interviewing consists of
inviting small groups of people to meet
with a trained moderator to talk about a
product, service, or organization :
STRENGTHS AND WEAKNESSES OF CONTACT
METHODS
OTHER CONTACT METHODS
IMPLEMENTING RESEARCH PLAN
INTERPRETING AND REPORTING THE FINDINGS
findings can be interpreted in different
ways, and discussions between
researchers and managers will help
point to the best interpretations
MARKETING RESEARCH VS MARKET RESEARCH
. 'Market' research is simply research
into a specific market. It is a very
narrow concept. 'Marketing' research is
much broader. It not only includes
'market' research, but also areas such
as research into new products, or
modes of distribution such as via the
Internet to solve a specific problem
Q &A
