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Marketing M370

Class 2 Understanding the Customer: The Role of Market Research

John Talbott

on 17 August 2011

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Transcript of Marketing M370

"Obsess Over
Customer" Class 2: Understanding The Customer:
The Role of Market Research Invent on Behalf
the Customer Sustainability:
Think Long Term Every Day
is Day 1 ""Thus a company's marketing research
and information system must do more
than simply generate lots of information.
The Value of marketing research and marketing
information lies in how it it is used----
in the that it provides. Customer Insights Armstrong/Kotler
page 47 your text Insights vs. Information Not the first
All their music
Unobtrusive 75% Market Share Hans Rosling: No more boring data: TEDTalks <object width="500" height="405"><param name="movie" value="http://www.youtube.com/v/hVimVzgtD6w&hl=en_US&fs=1&rel=0&color1=0x5d1719&color2=0xcd311b&border=1"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/hVimVzgtD6w&hl=en_US&fs=1&rel=0&color1=0x5d1719&color2=0xcd311b&border=1" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="500" height="405"></embed></object> As you Watch:
What is the point?
What insights are gained by the unique presentation? www.gapminder.com Cumulative CO2 Emissions What insights can you draw from this
visualization of data? Are there implications for marketers? Sources of Data Pizza Hut 40 Million Households
Best Buy creating segments
Cheap and easy to access
Companies are drowning data Internal databases Secondary data Commercial Online DB's
Typically Less Expensive See Page 54 of your text Primary Data Expensive
Can be the most valuable
Purposeful: How will it change decisions? Research Types { More on Market Research Exploratory
Causal Problem: Pepperoni Pizza Sales are down. Why? Poll Customers to understand why they did not choose Pepperoni Estimate the size of the market for non-meat pies. Choosing Non-Meat for Health Reasons The number of Vegetarians and Vegans is increasing at 10%/year and they are typically affluent Do we offer vegetarian choices as complete pies and or do we need more toppings? We need veggie "Titles" but also more variety of toppings Example Collecting Data Observational
Experimental Specific Methods Internet
Focus Groups
Personal Interviews
Mailed Surveys
Computer based polling My Survey Monkey Who are you? For Further Review Table 4 Page 62
Types of Samples
Table 5 Page 62
A questionable questionaire <object width="500" height="405"><param name="movie" value="http://www.youtube.com/v/z5uPXPSTToQ&hl=en_US&fs=1&rel=0&color1=0x5d1719&color2=0xcd311b&border=1"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/z5uPXPSTToQ&hl=en_US&fs=1&rel=0&color1=0x5d1719&color2=0xcd311b&border=1" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="500" height="405"></embed></object> Slides from the Lecture Assignment Key Points See you next Week! Funny Commercial: Soccer South of the Border ?
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