Loading presentation...

Present Remotely

Send the link below via email or IM

Copy

Present to your audience

Start remote presentation

  • Invited audience members will follow you as you navigate and present
  • People invited to a presentation do not need a Prezi account
  • This link expires 10 minutes after you close the presentation
  • A maximum of 30 users can follow your presentation
  • Learn more about this feature in our knowledge base article

Do you really want to delete this prezi?

Neither you, nor the coeditors you shared it with will be able to recover it again.

DeleteCancel

Make your likes visible on Facebook?

Connect your Facebook account to Prezi and let your likes appear on your timeline.
You can change this under Settings & Account at any time.

No, thanks

Managing Marketing Informarion to Gain Customer Insights 4

No description
by

Mario Mata

on 9 May 2014

Comments (0)

Please log in to add your comment.

Report abuse

Transcript of Managing Marketing Informarion to Gain Customer Insights 4

Rest Stop: Reviewing the Concepts
Explain the importance of information in gaining insights about the marketplace and customers.
Define the marketing information system and discuss its parts.
Outline the steps in the marketing research process.
Explain how companies analyze and use marketing information.
Discuss the special issues some marketing researchers face, including public policy and ethics issues.
The Nielsen Company has offices in more than 100 countries, including Japan.
Small businesses and nonprofit organizations can also benefit from marketing research insights.
International marketing research is growing, but presents unique challenges.
Other Marketing Information Considerations
Marketing information systems (MIS) must make information readily available for decision-making:
Routine information for decision making.
Nonroutine information for special situations.
Intranets and extranets facilitate the information sharing process.
Distributing and Using Marketing Information
Benefits of CRM:
Ability to offer better customer service and develop deeper customer relationships.
Pinpoint and target high-value customers more effectively.
Enhances the firm’s ability to cross-sell products and develop offers tailored to customers.
Customer Relationship Management (CRM)
Kroger data mines loyalty card data to develop customized coupons which are mailed to loyalty card holders. While only 1-3% of most coupons are redeemed, nearly 50% of Kroger’s personalized coupons get used.
Marketing in Action
Analyzing and Using Marketing Information
Companies look for customer touch points.
CRM analysts develop data warehouses and use data mining techniques to find out information about customers. Findings may lead to new marketing opportunities.
Analyzing and Using Marketing Information
Many companies utilize customer relationship management (CRM):
Captures customer information from all sources.
Analyzes it in-depth.
Applies the results to build stronger relationships.
Interpret the findings.
Draw conclusions.
Report to management:
Present findings and conclusions that will be most helpful to decision making.
Interpreting and Reporting Findings
Researchers used neuromarketing techniques to see how Super Bowl viewers’ brains responded to various ads. Visit Sands Research to learn more!
Marketing in Action
Probability samples offer each population member a known chance of being selected.
Simple random sample
Stratified random sample
Cluster (area) sample
Nonprobability samples are selected in a non random manner, which means sampling error cannot be computed.
Convenience sample
Judgment sample
Quota sample
Sampling Plan
Segment of the population selected to represent the population as a whole.
Sample
Contact Methods
Online pros:
Fastest form of data collection can gather a good amount of data.
Lowest cost per respondent of all contact methods; offers excellent sample control.
Good flexibility and response rate.

Online cons:
Somewhat subject to interviewer bias and related interviewer effects.
Contact Methods
Telephone surveying pros:
Gathers information fast.
Greater flexibility than mail surveys.
Interviewers can explain or skip questions.
Strong sample control.
Telephone surveying cons:
Higher costs than mail.
Interviewer may bias results.
Limited quantity of data can be collected.
Poor response rates.
Schick sponsored “Slow Sip” focus group sessions in local cafes.
Mail surveys
Telephone surveys
Personal interviews:
Individual interviewing
Focus group interviewing
Contact Methods
Best suited for explaining cause-and-effect (causal) relationships.
Gathering primary data by selecting matched groups of subjects, giving them different treatments, controlling related factors and checking for differences in group responses.
Experimental Research
Teams of Nokia anthropologists “live with the locals” in emerging economies to glean subtle insights into each local culture. Such insights resulted in the robust Nokia 1200 phone.
Marketing in Action
The gathering of primary data by observing relevant people, actions, and situations.
Can obtain information that people are unwilling or unable to provide.
Cannot be used to observe feelings, attitudes, and motives, and long-term or infrequent behaviors.
Ethnographic research:
Trained observers watch and interact with consumers in their “natural habitat.”
Yields richer understanding of consumers.
Observational Research
Designing a primary data collection plan involves making decisions related to the:
Research approach:
Observation, survey, or experiment
Contact methods:
Mail, telephone, personal, or online
Sampling plan:
Sampling unit, sample size, and sampling procedure
Research instruments.
Primary Data Collection
Disadvantages:
Desired information may not exist as secondary data.
Secondary data must be carefully evaluated for relevancy, accuracy, currency, and impartiality.
Advantages:
Available more quickly and at a lower cost than primary data.
Can lead to information that an individual firm could not gather itself.
Secondary Data
Experian Consumer Research is a commercial database service that sells an incredible wealth of information on everything from the products consumers buy and the brands they prefer to their lifestyles, attitudes, and media preferences.
Marketing in Action
Secondary data:
Information that already exists somewhere which has been collected for another purpose.
Common sources of secondary data:
Internal databases
Commercial data services
Government sources
Gathering Secondary Data
Research objectives must be translated into specific information needs.
Information needs might include detailed customer characteristics, usage patterns, retailer reactions, sales forecasts, or other information.
Research plan should be presented in a written proposal.
Research plans may outline need for secondary data and primary data.
Developing the Research Plan
Research objectives may include:
Exploratory research:
Gathering preliminary information that will help define the problem and suggest hypotheses.
Descriptive research:
Generating information to better describe marketing problems, situations, or markets.
Causal research:
Testing hypotheses about cause-and-effect relationships.
Defining Problem and Objectives
Defining the marketing research problem is often the most difficult step in the research process. Brainstorming potential causes of the key symptom is often helpful. Suppose that sales of your brand have been declining (sales decline is a symptom of the actual problem).
What marketing problems might have caused sales to decline?
Fuel for Thought
Figure 4.2:

The Marketing Research Process
Many firms routinely monitor consumers’ online conversations with the help of services such as Radian6.
Marketing in Action
Think about your University or the business where you work.

Aside from web-related information, what type of internal data could be used to provide customer insights?
Fuel for Thought
Barney’s found many actionable customer insights by analyzing online customers’ browsing and buying behavior on the web.
Marketing in Action
Internal databases are electronic collections of consumer and market information obtained from data sources within the company network.
Includes customer profile data, customer satisfaction data, and more.
Accessed more quickly and cheaply than other information sources.
Ages rapidly and may be incomplete.
Developing Marketing Information
A good MIS balances the information users would like against what they really need and what is feasible to offer.
Sometimes the company cannot provide the needed information because it is not available or due to MIS limitations.
MIS efforts are costly. Firms must decide whether the value of the insights gained from more information is worth the cost.
Assessing Information Needs
The MIS helps managers to:
Assess information needs.
Develop needed information.
Analyze and use information.
Marketing Information System
Figure 4.1:

The Marketing Information System
Consists of people and procedures for assessing information needs, developing the needed information, and helping decision makers to use the information to generate and validate actionable customer and market insights.
Marketing Information System
Insight: People want to take music with them but music players must be unobtrusive.
Key customer insights , plus a dash of Apple’s design and usability magic, have made the iPod a block-buster. It now captures more than 75% market share.
Marketing in Action
Fresh understandings of customers and the marketplace derived from marketing information that become the basis for creating customer value and relationships.
Customer Insights
Implementation

Advertising: Award-winning “Tide Knows Fabrics Best” ad campaign sent message that Tide let women focus on life’s important things and did not focus on traditional side-by-side cleaning comparisons.
Results: 7% market share growth resulted after campaign implementation; Tide’s holds 43% of detergent market.
Key to Success: Use research to understand the true nature of customer relationship and shape it provide real value.
Market Research

Goal: Use market research to understand and cultivate the deep connections that Tide has with its core consumers.
Research Technique: Two-week customer immersion experience, working, shopping, talking with women about lives, needs, and feelings.
Insights: Women are emotional about clothing and care for them well because they are filled with stories, feelings and memories.
First Stop
Understanding Tides Consumers
Rest Stop: Previewing the Concepts
1.Explain the importance of information in gaining insights about the marketplace and customers.
2.Define the marketing information system and discuss its parts.
3.Outline the steps in the marketing research process.
4.Explain how companies analyze and use marketing information.
5.Discuss the special issues some marketing researchers face, including public policy and ethics issues.
Copyright © 2011 Pearson Education, Inc.  
Publishing as Prentice Hall
All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Printed in the United States of America.
Misuse of marketing research can harm consumers. Public policy and ethics in marketing research is concerned with:
Intrusions on consumer privacy
Misuse of research findings
Other Marketing Information Considerations
Managing detailed information about individual customers & carefully managing customer “touch points” in order to maximize customer loyalty.
Customer Relationship Management
Implementing the Research Plan
Collecting the data:
Most expensive phase.
Subject to error.
Processing the data:
Check for accuracy.
Code for analysis.
Analyzing the data:
Tabulate results.
Compute statistical measures.
?
Questionnaire decisions:
What questions to ask?
Form of each question?
Closed-ended
Open-ended
Wording?
Ordering?
Mechanical devices:
People meters, checkout scanners, eye tracking devices, neuromarketing.
Research Instruments
Sampling requires three decisions:
Who is to be surveyed?
Selecting the sampling unit.
How many people should be surveyed?
Referred to as sample size.
How should the people in the sample be chosen?
Describes the sampling procedure.
Sampling Plan
Online marketing research:
Internet surveys and online panels
Experiments
Online focus groups
Channel M2 offers real-time audio and video to their online focus groups. Visit the site and see their demo!
Contact Methods
Contact Methods
Individual & group interviewing pros:

Highly flexible method that can gather a great deal of data from a respondent.
Good control of sample, speed of data collection, and response rate.

Individual & group interviewing cons:

High cost per respondent.
Highly subject to interviewer bias and related interviewer effects.
Contact Methods
Mail survey pros:
Can collect large amounts of information at a relatively low cost per respondent.
Generates more truthful responses than phone interviews.
Improved validity (no interviewer bias).
Mail survey cons:
Not flexible; study takes longer to finish.
Low response rate.
Little control over sample.
Survey research:
Gathers primary data by asking people questions about their knowledge, attitudes, preferences, and buying behavior.
Most widely used method for primary data collection.
Best suited for gathering descriptive information.
Survey Research
Primary data must be relevant, accurate, current, and unbiased.
Consists of information collected for the specific purpose at hand.
Primary Data
comScore.com provides info on Internet and digital media users worldwide.
ClickZ brings together information about the Internet, e-commerce, and users.
Interactive Advertising Bureau provides statistics about advertising on the Internet.
Forrester.com monitors Web traffic and ranks the most popular web sites.
Understanding the Internet
Requires:
Determining the exact information needed.
Developing a plan for gathering it efficiently.
Presenting the written plan to management.
The research plan outlines:
Sources of existing data.
Specific research approaches.
Contact methods.
Sampling plans.
Instruments for data collection.
Defining Problem and Objectives
Firms may hire outside specialists or have a research department in-house.
Systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.
Marketing Research
Del Monte created a custom social network called, “I Love My Dog” to observe and interact with buyers, so that they could obtain authentic, in-depth insights. Visit and see what consumers are saying now!
Marketing in Action
Companies need information about their:
Customers’ needs
Marketing environment
Competition
Marketing managers do not need more information, they need better information that provides true customers insights, which are useful for decision making.
The Importance of Marketing Information and Customer Insights
Chapter 4
Managing Marketing Information

To Gain Customer Insights

Annual reports from the competition and consumer blogs are two examples.
Systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketing environment.
Competitive Marketing Intelligence
Tide’s immersion research found that women have strong emotional ties to their clothing.
Firms use customer insights to develop competitive advantage.
Customer insight teams are replacing traditional market research departments.
Insights stem from many sources.
Customer Insights
http://www.scoop.it/t/tourism-social-media/p/4002308624/eight-hospitality-trends-that-define-millennial-travelers
Full transcript