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
