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SEM - Ch.5 Information Management
Transcript of 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
Explain the options for electronic data collection.
Discuss the concept of data-driven decisions.
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.”
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.
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.
The Marketing Research Process
drives profitable revenue for assigned products
manages a team
creates schedules and action plans
develops training materials
On the Job
times as expensive to attract the business of new customers as it is to retain the loyalty of current 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.
It is essential to have high quality data to receive high quality research results.
COLLECTION OF DATA
Consumer preferences vary among cultures.
Marketers need to understand the preferences of the various cultures to which they sell products.
decisions based on sound information can greatly increase the chances for success
gut feeling and intuition also play a role in decision-making
At times, there may be a conflict between people in research and people in sales.
THE HUMAN FACTOR
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
the process for data collection
and report the data
a solution to the problem
and evaluate the results
How It’s Done
information gathered on a single target market
STEPS IN MARKETING RESEARCH
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
CAREERS IN MARKETING RESEARCH
Explain the purpose of marketing-information management.
Describe careers in marketing-information management.
The Need for Speedy Information
5.1 The Need for Speedy Information
5.2 The Marketing Research Process
5.3 Managing the Information
Customers and marketers use data to make decisions.
identifies solutions to marketing problems
REACHING FOR DATA
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
Director of Marketing
conducted when a business is unaware of the exact problem
reports of other completed research are used to help define the problem
Discover and Define the Problem
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
Implement and Evaluate the Results
using powerful computers to “dig up” data to make decisions
ACNielsen’s research is generally based on actions rather than opinions.
help users find relevant web sites for free