Chapter 5

Internal Databases

Electronic collections of consumer and market information obtained from data success within the company network

Whereas observation research is best suited for exploratory research and surves for descriptive research

Experimental research is best suited for gathering casual information

Researchers usually start by gather secondary data

The company's database is a good starting point but can tap into other external info such as government sources and commercial data services

Marketing Research

The systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization

Descriptive research

To describe things such as the market potential for a product or the demographics and attitudes of consumers who buy the product

Casual Research

To test hypotheses about cause and effect relationship

The goal of competitive marketing intelligence is to improve strategic decision making by

Understanding consumer environment Assessing and tracking competitors actions, and providing early warnings of opportunities and threats

Commercial online databases

computerized collections of information available from online commercial sources or via internet

Customer insights

fresh understanding of customers and the marketplace from marketing information which becomes the basis for creating customer value and relationships

online focus groups

gathering a small group of people online with a trained moderator to chat about a product, service or organization

Survey Research

gathering primary data by asking people questions about their knowledge, attitudes, preferences, and buying behaviour

Observational research

gathering primary data by observing relevant people, actions and situations

Exploratory Research

marketing research to gather preliminary info. that will help define the problem and suggest hypothesis

neuromarketing

measuring brain activity to learn how consumers feel and respond

Netnography research

observing consumers in a natural context on the internet

Ethnographic research

A form of observational research that involves sending trained observers to watch and interact with consumers in their "natural habitat"

Interpreting the findings

Draw conclusions, and report them to management from the information found

Telephone Interview

Best method for gathering info. quickly Provides greater flexibility since interviewers can ask different questions Cost per person is higher

The marketing information system primarily serves the company's marketing system and other managers

But may also be used to external partners, such as suppliers, resellers or marketing servcices agencies

online marketing research

Collecting primary data online through surveys, online focus groups web-based experiments, or tracking consumer's online behaviour

Secondary Data

Consist of info. that already exist somewhere, having been collected for another purpose

Primary Data

Consist of information collected for a specific purpose at hand

Experimental research

Experimental research is gathering primary data by selecting matched groups of subjects, giving them different treatments, controlling related factors, and checking for differences in group responses

Contact Methods

Info. collected by mail, telephone, personal interview, or online

Where can marketers obtain needed information from?

Internal Data Marketing Intelligence Marketing Research

Implementing the research plan

Involves collecting, processing, and analyzing the information

Internal databases can be accessed quickly and cheaply than any other info. but is often collected for other purposes so it may be incomplete or in the wrong form for decisions

It also ages quickly so it must be updated which is a major effort

Mail Questionnaires

Low cost per person Person may give more honest answers Not flexible since people answer the same question Take longer

Marketing information Systems

People and procedures for assessing information needs, developing the needed information and helping decision makers use the info. to generate and validate action market insights

Focus Group Interviewing

Personal interviewing that involves inviting six to ten people to gather for a few hours with a trained interviewer to talk about product, service or organization

Sample

a segment of the population selected for marketing research to represent population as a whole

Competitive marketing intelligence

is the systematic collection and analysis of publicly available information about consumers, competitors and developments in the marketplace

Customer relationship management

managing detailed information about individual customers and carefully managing customer touch points to maximize customer loyalty