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SEM - Ch.5 Information Management

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Mrs. Blanco

on 26 October 2016

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Transcript of SEM - Ch.5 Information Management

SEM - Ch.5 Information Management
(the number of times an ad is clicked on)

(the number of times an ad is shown)
Ranking the Ads

a small data file that is placed on the hard drive of a web site visitor
collects and reports data on the visitor
electronically monitors actual television viewing habits of a representative sample of viewers
Data Mining
Explain the options for electronic data collection.
Discuss the concept of data-driven decisions.

Lesson 6.3
Managing the Information

Consumers need an incentive for providing specific information that will be useful for marketing research.
What’s in It for Me?

Marketing researchers must maintain high ethical standards and report information accurately and objectively.

The identity of research participants should be protected.

Researchers have an obligation to protect the consumer from “misrepresentation and exploitation under the guise of research.”

Ethical Research
Marketing research that reveals dissatisfied customers might make other departments within the company feel defensive.

Researchers should learn about all marketing functions within the company.

Research results should be reported in an understandable format.
Reducing Conflict
Determine a Solution to the Problem
changes need to be implemented
effectiveness of changes need to be evaluated
Discover and Define the Problem
done when the business is aware of the problem that needs to be solved
List and describe the steps involved in marketing research.
Discuss the human factors in marketing research.

Lesson 5.2
The Marketing Research Process

drives profitable revenue for assigned products
manages a team
tracks sales
creates schedules and action plans
develops training materials
makes presentations
On the Job
It is
times as expensive to attract the business of new customers as it is to retain the loyalty of current customers.

Engaging Customers

research conducted by an independent company

offered for sale to everyone in an industry
Who is Buying?

Industry and federal regulators are addressing issues concerning customer’s privacy.

Marketing information gathered from children is a sensitive area.

The entertainment industry is trying to protect its products from piracy.

Consumer Privacy

It is essential to have high quality data to receive high quality research results.

Consumer preferences vary among cultures.
Marketers need to understand the preferences of the various cultures to which they sell products.

Worldwide Data

decisions based on sound information can greatly increase the chances for success

gut feeling and intuition also play a role in decision-making
Research Sophistication
At times, there may be a conflict between people in research and people in sales.

Analyze and Report the Data
graphic representations make data easier to understand quickly
Analyze Current Conditions
a representative subset of the large group
and define the problem

current conditions

the process for data collection

the data

and report the data

a solution to the problem

and evaluate the results
How It’s Done

information gathered on a single target market

a staff researcher who coordinates the research efforts of external marketing research firms
Marketing Research Firms

Marketing researchers collect and analyze competitive data.

provide clients with strategic recommendations

Explain the purpose of marketing-information management.
Describe careers in marketing-information management.

Lesson 5.1
The Need for Speedy Information

Chapter 5

5.1 The Need for Speedy Information
5.2 The Marketing Research Process
5.3 Managing the Information

Marketing-Information Management

Customers and marketers use data to make decisions.

gathers data
identifies solutions to marketing problems

marketing research
syndicated research
engaged customers
surveys of people’s opinions
repeat customers who are completely loyal to a company’s products and services
Marketing research careers will increase by 18%-26% through 2014
client-side researchers
Director of Marketing
market research
exploratory research
conducted when a business is unaware of the exact problem
reports of other completed research are used to help define the problem
desk research
Discover and Define the Problem
descriptive research
causal research
determines the cause-and-effect relationships when the problem is already clearly defined
examine sales volume and customer data to understand current conditions
Develop the Process for Data Collection
observation or survey
Collect the Data
data patterns are sought
data is complex

the range of prices charged for a category of merchandise
price points
Implement and Evaluate the Results
data mining
using powerful computers to “dig up” data to make decisions
ACNielsen’s research is generally based on actions rather than opinions.
search engines
help users find relevant web sites for free
click-through rate
Full transcript