marketing research and information system ppt

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10.1 Marketing Information Systems

Learning objectives.

• Describe the components of a marketing information system and each component’s purpose.
• Explain the situations in which marketing research should be used versus market intelligence.
• Describe the limitations of market intelligence and its ethical boundaries.
• Explain when marketing research should and should not be used.

A certain amount of marketing information is being gathered all the time by companies as they engage in their daily operations. When a sale is made and recorded, this is marketing information that’s being gathered. When a sales representative records the shipping preferences of a customer in a firm’s customer relationship management (CRM) system, this is also marketing information that’s being collected. When a firm gets a customer complaint and records it, this too is information that should be put to use. All this data can be used to generate consumer insight. However, truly understanding customers involves not just collecting quantitative data (numbers) related to them but qualitative data, such as comments about what they think.

Interview with Joy Mead

http://app.wistia.com/embed/medias/c89771530a

Recall from Chapter 3 “Consumer Behavior: How People Make Buying Decisions” that Joy Mead is an associate director of marketing with Procter & Gamble. Listen to this clip to hear Mead talk about the research techniques and methods Procter & Gamble uses to develop consumer insight. You will learn that the company isn’t just interested in what consumers want now but also years in the future.

The trick is integrating all the information you collect so it can be used by as many people as possible in your organization to make good decisions. Unfortunately, in many organizations, information isn’t shared very well among departments. Even within departments, it can be a problem. For example, one group in a marketing department might research a problem related to a brand, uncover certain findings that would be useful to other brand managers, but never communicate them.

A marketing information system (MIS) is a way to manage the vast amount of information firms have on hand—information marketing professionals and managers need to make good decisions. Marketing information systems range from paper-based systems to very sophisticated computer systems. Ideally, however, a marketing information system should include the following components:

• A system for recording internally generated data and reports
• A system for collecting market intelligence on an ongoing basis
• Marketing analytics software to help managers with their decision making
• A system for recording marketing research information

Internally Generated Data and Reports

As we explained, an organization generates and records a lot of information as part of its daily business operations, including sales and accounting data, and data on inventory levels, back orders, customer returns, and complaints. Firms are also constantly gathering information related to their Web sites, such as clickstream data. Clickstream data is data generated about the number of people who visit a Web site and its various pages, how long they dwell there, and what they buy or don’t buy. Companies use clickstream data in all kinds of ways. They use it to monitor the overall traffic of visitors that a site gets, to see which areas of the site people aren’t visiting and explore why, and to automatically offer visitors products and promotions by virtue of their browsing patterns. Software can be used to automatically tally the vast amounts of clickstream data gathered from Web sites and generate reports for managers based on that information. Netflix recently awarded a $1 million prize to a group of scientists to plow through Web data generated by millions of Netflix users so as to improve Netflix’s predictions of what users would like to rent (Baker, 2009). (That’s an interesting way to conduct marketing research, don’t you think?)

Being able to access clickstream data and other internally generated information quickly can give a company’s decision makers a competitive edge. Remember our discussion in Chapter 9 “Using Supply Chains to Create Value for Customers” about how Walmart got a leg up on Target after 9/11? Walmart’s inventory information was updated by the minute (the retailer’s huge computing center rivals the Pentagon’s, incidentally); Target’s was only updated daily. When Walmart’s managers noticed American flags began selling rapidly immediately following the terrorist attacks on 9/11, the company quickly ordered as many flags as possible from various vendors—leaving none for Target.

Click on the following link to watch a fascinating documentary about how Walmart, the world’s most powerful retailer, operates: http://www.hulu.com/watch/103756/cnbc-originals-the-new-age -of-walmart .

Many companies make a certain amount of internal data available to their employees, managers, vendors, and trusted partners via intranets. An intranet looks like the Web and operates like it, but only an organization’s employees have access to the information. So, for example, instead of a brand manager asking someone in accounting to run a report on the sales of a particular product, the brand manager could look on her firm’s intranet for the information.

However, big companies with multiple products, business units, and databases purchased and installed in different places and at different times often have such vast amounts of information that they can’t post it all on an intranet. Consequently, getting hold of the right information can be hard. The information could be right under your nose and you might not know it. Meet people like Gary Pool: Pool works for BNSF Railway and is one of BNSF’s “go-to” employees when it comes to gathering marketing data. Pool knows how to access different databases and write computer programs to extract the right information from the right places at BNSF, a process known as data mining . Combining data into one location is called data warehousing , and makes Pool’s analysis easier. He then captures the information and displays it in dashboards , screens on the computer that make the data easily understood so that managers can detect marketing trends. While a dashboard may display a piece of information, such as the number of carloads sold in West Virginia, the manager can click on the number and get more detail.

Figure 10.2

Gary Pool is an expert at data mining—hunting up information for decision makers at BNSF Railway. And no, he doesn’t wear a headlamp. Nor does he wear a pocket protector! Pool’s title: Manager, Marketing Systems Support & Marketing Decision Support & Planning.

Michael Kappel – Metra BNSF Railway 149 – CC BY-NC 2.0.

Analytics Software

Increasingly, companies are purchasing analytics software to help them pull and make sense of internally generated information. Analytics software allows managers who are not computer experts to gather all kinds of different information from a company’s databases—information not produced in reports regularly generated by the company. The software incorporates regression models, linear programming, and other statistical methods to help managers answer “what if” types of questions. For example, “If we spend 10 percent more of our advertising on TV ads instead of magazine ads, what effect will it have on sales?” Oracle Corporation’s Crystal Ball is one brand of analytical software.

The camping, hunting, fishing, and hiking retailer Cabela’s has managed to refine its marketing efforts considerably using analytics software developed by the software maker SAS. “Our statisticians in the past spent 75 percent of their time just trying to manage data. Now they have more time for analyzing the data with SAS, and we have become more flexible in the marketplace,” says Corey Bergstrom, director of marketing research and analysis for Cabela’s. “That is just priceless” (Zarello, 2009).

Figure 10.3

Cabela’s’ analytics software has helped the outdoor sporting retailer reach the right customers with the right catalogs.

Echo9er – Cabela’s – CC BY-NC-SA 2.0.

The company uses the software to help analyze sales transactions, market research, and demographic data associated with its large database of customers. It combines the information with Web browsing data to gain a better understanding of the individual customers marketing channel preferences as well as other marketing decisions. For example, does the customer prefer Cabela’s’ one-hundred-page catalogs or the seventeen-hundred-page catalogs? The software has helped Cabela’s employees understand these relationships and make high-impact data-driven marketing decisions (Zarello, 2009).

Market Intelligence

A good internal reporting system can tell a manager what happened inside his firm. But what about what’s going on outside the firm? What is the business environment like? Are credit-lending terms loose or tight, and how will they affect what you and your customers are able to buy or not buy? How will rising fuel prices and alternate energy sources affect your firm and your products? Do changes such as these present business obstacles or opportunities? Moreover, what are your competitors up to?

Not gathering market intelligence leaves a company vulnerable. Remember Encyclopedia Britannica, the market leader in print encyclopedia business for literally centuries? Encyclopedia Britannica didn’t see the digital age coming and nearly went out of business as a result. (Suffice it to say, you can now access Encyclopedia Britannica online.) By contrast, when fuel prices hit an all-time high in 2008, unlike other passenger airline companies, Southwest Airlines was prepared. Southwest had anticipated the problem, and early on locked in contracts to buy fuel for its planes at much lower prices. Other airlines weren’t as prepared and lost money because their fuel expenses skyrocketed. Meanwhile, Southwest Airlines managed to eke out a profit. Collecting market intelligence can also help a company generate ideas or product concepts that can then be tested by conducting market research.

Gathering market intelligence involves a number of activities, including scanning newspapers, trade magazines, and economic data produced by the government to find out about trends and what the competition is doing. In big companies, personnel in a firm’s marketing department are primarily responsible for their firm’s market intelligence and making sure it gets conveyed to decision makers. Some companies subscribe to news service companies that regularly provide them with this information. LexisNexis is one such company. It provides companies with news about business and legal developments that could affect their operations. Other companies subscribe to mystery shopping services, companies that shop a client and/or competitors and report on service practices and service performance. Let’s now examine some of the sources of information you can look at to gather market intelligence.

Search Engines and Corporate Web Sites

An obvious way to gain market intelligence is by examining your competitors’ Web sites as well as doing basic searches with search engines like Google. If you want to find out what the press is writing about your company, your competitors, or any other topic you’re interested in, you can sign up to receive free alerts via e-mail by going to Google Alerts at http://www.google.com/alerts . Suppose you want to monitor what people are saying about you or your company on blogs, the comment areas of Web sites, and social networks such as Facebook and Twitter. You can do so by going to a site like WhosTalkin.com, typing a topic or company name into the search bar, and voilà! All the good (and bad) things people have remarked about the company or topic turn up. What a great way to seek out the shortcomings of your competitors. It’s also a good way to spot talent. For example, designers are using search engines like WhosTalkin.com to search the blogs of children and teens who are “fashion forward” and then involve them in designing new products.

WhosTalkin.com and Radian6 (a similar company) also provide companies with sentiment analysis. Sentiment analysis is a method of examining content in blogs, tweets, and other online media (other than news media) such as Facebook posts to determine what people are thinking at any given time. Some companies use sentiment analysis to determine how the market is reacting to a new product. The Centers for Disease Control (CDC) uses sentiment analysis to track the progress of flu; as people post or tweet how sick they are, the CDC can determine where the flu is increasing or decreasing.

Figure 10.4

Type a company’s name (or anything else you want) into the search bar and see what comes up. (Note: It takes a little while for all of the results to show up.)

Source: http://www.whostalkin.com .

Publications

The Economist , the Wall Street Journal , Forbes , Fortune , BusinessWeek , the McKinsey Report , Sales and Marketing Management , and the Financial Times are good publications to read to learn about general business trends. All of them discuss current trends, regulations, and consumer issues that are relevant for organizations doing business in the domestic and global marketplace. All of the publications are online as well, although you might have to pay a subscription fee to look at some of the content. If your firm is operating in a global market, you might be interested to know that some of these publications have Asian, European, and Middle Eastern editions.

Other publications provide information about marketplace trends and activities in specific industries. Consumer Goods and Technology provides information consumer packaged-goods firms want to know. Likewise, Progressive Grocer provides information on issues important to grocery stores. Information Week provides information relevant to people and businesses working in the area of technology. World Trade provides information about issues relevant to organizations shipping and receiving goods from other countries. Innovation: America’s Journal of Technology Commercialization provides information about innovative products that are about to hit the marketplace.

Trade Shows and Associations

Trade shows are another way companies learn about what their competitors are doing. (If you are a marketing professional working a trade show for your company, you will want to visit all of your competitors’ booths and see what they have to offer relative to what you have to offer.) And, of course, every field has a trade association that collects and disseminates information about trends, breakthroughs, new technology, new processes, and challenges in that particular industry. The American Marketing Association, Food Marketing Institute, Outdoor Industry Association, Semiconductor Industry Association, Trade Promotion Management Association, and Travel Industry Association provide their member companies with a wealth of information and often deliver them daily updates on industry happenings via e-mail.

Salespeople

A company’s salespeople provide a vital source of market intelligence. Suppose one of your products is selling poorly. Will you initially look to newspapers and magazines to figure out why? Will you consult a trade association? Probably not. You will first want to talk to your firm’s salespeople to get their “take” on the problem.

Salespeople are the eyes and ears of their organizations. Perhaps more than anyone else, they know how products are faring in the marketplace, what the competition is doing, and what customers are looking for.

A system for recording this information is crucial, which explains why so many companies have invested in customer relationship management (CRM) systems. Some companies circulate lists so their employees have a better idea of the market intelligence they might be looking for. Textbook publishers are an example. They let their sales representatives know the types of books they want to publish and encourage their representatives to look for good potential textbook authors among the professors they sell to.

Suppliers and Industry Experts

Your suppliers can provide you with a wealth of information. Good suppliers know which companies are moving a lot of inventory. And oftentimes they have an idea why. In many instances, they will tell you, if the information you’re looking for is general enough so they don’t have to divulge any information that’s confidential or that would be unethical to reveal—an issue we’ll talk more about later in the book. Befriending an expert in your industry, along with business journalists and writers, can be helpful, too. Often these people are “in the know” because they get invited to review products (Gardner, 2009).

Lastly, when it comes to market intelligence don’t neglect observing how customers are behaving. They can provide many clues, some of which you will be challenged to respond to. For example, during the latest economic downturn, many wholesalers and retailers noticed consumers began buying smaller amounts of goods—just what they needed to get by during the week. Seeing this trend, and realizing that they couldn’t pass along higher costs to customers (because of, say, higher fuel prices), a number of consumer-goods manufacturers “shrank” their products slightly rather than raise prices. You have perhaps noticed that some of the products you buy got smaller—but not cheaper.

Can Market Intelligence Be Taken Too Far?

Can market intelligence be taken too far? The answer is yes. In 2001, Procter & Gamble admitted it had engaged in “dumpster diving” by sifting through a competitors’ garbage to find out about its hair care products. Although the practice isn’t necessarily illegal, it cast P&G in a negative light. Likewise, British Airways received a lot of negative press in the 1990s after it came to light that the company had hacked into Virgin Atlantic Airways’ computer system 1 .

Gathering corporate information illegally or unethically is referred to as industrial espionage . Industrial espionage is not uncommon. Sometimes companies hire professional spies to gather information about their competitors and their trade secrets or even bug their phones. Former and current employees can also reveal a company’s trade secret either deliberately or unwittingly. Microsoft recently sued a former employee it believed had divulged trade secrets to its competitors 2 . It’s been reported that for years professional spies bugged Air France’s first-class seats to listen in on executives’ conversations (Anderson, 1995).

Spying at Work—Espionage: Who, How, Why, and How to Stop It

(click to see video)

To learn more about the hazards of industrial espionage and how it’s done, check out this YouTube video.

Figure 10.5

Don’t get caught doing this—unless you work for the natural-cosmetics maker Burt’s Bees. To get across to employees the amount of material being wasted, Burt’s Bees had its employees put on hazmat suits and sort through garbage for a couple of weeks. (No, employees weren’t engaging in industrial espionage.) The recycling opportunities they spotted as part of the exercise ended up saving the natural-cosmetics maker $25,000 annually (Nemes, 2009).

Halturg Skanser – dumpster diving leap – CC BY-NC 2.0.

To develop standards of conduct and create respect for marketing professionals who gather market intelligence, the Society of Competitive Intelligence Professionals has developed a code of ethics. It is as follows:

• To continually strive to increase the recognition and respect of the profession.
• To comply with all applicable laws, domestic and international.
• To accurately disclose all relevant information, including one’s identity and organization, prior to all interviews.
• To avoid conflicts of interest in fulfilling one’s duties.
• To provide honest and realistic recommendations and conclusions in the execution of one’s duties.
• To promote this code of ethics within one’s company, with third-party contractors and within the entire profession.
• To faithfully adhere to and abide by one’s company policies, objectives and guidelines 3 .

Marketing Research

Marketing research is what a company has to resort to if it can’t answer a question by using any of the types of information we have discussed so far—market intelligence, internal company data, or analytics software applied to data. As we have explained, marketing research is generally used to answer specific questions. The name you should give your new product is an example. Unless your company has previously done some specific research on product names—what consumers think of them, good or bad—you’re probably not going to find the answer to that question in your internal company data. Also, unlike internal data, which is generated on a regular basis, marketing research is not ongoing. Marketing research is done on an as-needed or project basis. If an organization decides that it needs to conduct marketing research, it can either conduct marketing research itself or hire a marketing research firm to do it.

So when exactly is marketing research needed? Keep in mind marketing research can be expensive. You therefore have to weigh the costs of the research against the benefits. What questions will the research answer, and will knowing the answer result in the firm earning or saving more money than the research costs?

Marketing research can also take time. If a quick decision is needed for a pressing problem, it might not be possible to do the research. Lastly, sometimes the answer is obvious, so there is no point in conducting the research. If one of your competitors comes up with a new offering and consumers are clamoring to get it, you certainly don’t need to undertake a research study to see if such a product would survive in the marketplace.

Alex J. Caffarini, the president and founder of the marketing research firm Analysights, believes there are a number of other reasons companies mistakenly do marketing research. Caffarini’s explanations (shown in parentheses) about why a company’s executives sometimes make bad decisions are somewhat humorous. Read through them:

• “We’ve always done this research .” (The research has taken on a life of its own; this particular project has continued for years and nobody questioned whether it was still relevant.)
• “Everyone’s doing this research .” (Their competitors are doing it, and they’re afraid they’ll lose competitive advantage if they don’t; yet no one asks what value the research is creating.)
• “The findings are nice to know .” (Great—spend a lot of money to create a wealth of useless information. If the information is nice to know, but you can’t do anything with it, you’re wasting money.)
• “If our strategy fails, having done the research will show that we made our best educated guess .” (They’re covering their butts. If things go wrong, they can blame the findings, or the researcher.)
• “We need to study the problem thoroughly before we decide on a course of action .” (They’re afraid of making a tough decision. Conducting marketing research is a good way to delay the inevitable. In the meantime, the problem gets bigger, or the window of opportunity closes.)
• “The research will show that our latest ad campaign was effective .” (They’re using marketing research to justify past decisions. Rarely should marketing research be done after the fact) (Caffarini).

Is Marketing Research Always Correct?

To be sure, marketing research can help companies avoid making mistakes. Take Tim Hortons, a popular coffee chain in Canada, which has been expanding in the United States and internationally. Hortons recently opened some self-serve kiosks in Ireland, but the service was a flop. Why? Because cars in Ireland don’t have cup holders. Would marketing research have helped? Probably. So would a little bit of market intelligence. It would have been easy for an observer to see that trying to drive a car and hold a cup of hot coffee at the same time is difficult.

That said, we don’t want to leave you with the idea that marketing research is infallible. As we indicated at the beginning of the chapter, the process isn’t foolproof. In fact, marketing research studies have rejected a lot of good ideas. The idea for telephone answering machines was initially rejected following marketing research. So was the hit sitcom Seinfeld , a show that in 2002 TV Guide named the number-one television program of all time. Even the best companies, like Coca-Cola, have made mistakes in marketing research that have led to huge flops. In the next section of this chapter, we’ll discuss the steps related to conducting marketing research. As you will learn, many things can go wrong along the way that can affect the results of research and the conclusions drawn from it.

Key Takeaway

Many marketing problems and opportunities can be solved by gathering information from a company’s daily operations and analyzing it. Market intelligence involves gathering information on a regular, ongoing basis to stay in touch with what’s happening in the marketplace. Marketing research is what a company has to resort to if it can’t answer a question by using market intelligence, internal company data, or analytical software. Marketing research is not infallible, however.

Review Questions

• Why do companies gather market intelligence and conduct marketing research?
• What activities are part of market intelligence gathering?
• How do marketing professionals know if they have crossed a line in terms of gathering marketing intelligence?
• How does the time frame for conducting marketing intelligence differ from the time frame in which marketing research data is gathered?

1 “P&G Admits to Dumpster Diving,” PRWatch.org , August 31, 2001, http://www.prwatch.org/node/663 (accessed December 14, 2009).

2 “Microsoft Suit Alleges Ex-Worker Stole Trade Secrets,” CNET , January 30, 2009, http://news.cnet.com/8301-10805_3-10153616-75.html (accessed December 14, 2009).

3 “SCIP Code of Ethics for CI Professionals,” Society of Competitive Intelligence Professionals, http://www.scip.org/About/content.cfm?ItemNumber=578&navItemNumber=504 (accessed December 14, 2009).

Anderson, J., “Bugging Air France First Class,” Ellensburg Daily News , March 25, 1995, 3, http://news.google.com/newspapers?nid=860&dat =19950320&id=ddYPAAAAIBAJ&sjid=F48DAAAAIBAJ&pg=4554,2982160 (accessed December 12, 2009).

Baker, S., “The Web Knows What You Want,” BusinessWeek , July 24, 2009, http://www.businessweek.com/magazine/content/09_30/b4140048486880.htm (accessed December 14, 2009).

Caffarini, A. J., “Ten Costly Marketing Mistakes and How to Avoid Them,” Analysights, LLC.

Gardner, J., “Competitive Intelligence on a Shoestring,” Inc ., September 24, 2001, http://www.inc.com/articles/2001/09/23436.html (accessed December 14, 2009).

Nemes, J., “Dumpster Diving: From Garbage to Gold,” Greenbiz.com , January 16, 2009, http://www.businessgreen.com/bg/analysis/1805796/dumpster-diving-from-garbage-gold (accessed December 14, 2009).

Zarello, C., “Hunting for Gold in the Great Outdoors,” Retail Information Systems News , May 5, 2009, http://www.risnews.com/ME2/dirmod.asp?sid=&nm=&type=MultiPublishing&mod=PublishingTitles&mid =2E3DABA5396D4649BABC55BEADF2F8FD&tier=4&id =7BC8781137EC46D1A759B336BF50D2B6 (accessed December 14, 2009).

Principles of Marketing Copyright © 2015 by University of Minnesota is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License , except where otherwise noted.

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Market research presentation: A comprehensive guide

This comprehensive guide covers everything from choosing the right topic to delivering with confidence.

Raja Bothra

Building presentations

Ever wondered what goes into creating a killer market research presentation that not only impresses your stakeholders but also provides valuable insights?

You're in the right place.

In this comprehensive guide, we'll dive deep into the world of market research presentations, dissecting everything from what they are to how to create one that stands out.

How do you explain market research?

Before we jump into the nitty-gritty of market research presentations, let's start with the basics – what is market research?

Market research is the process of gathering, analyzing, and interpreting data about a particular market, industry, or consumer group. It's the compass that guides businesses in making informed decisions.

Market research comes in various forms: quantitative and qualitative. Quantitative research involves collecting numerical data, while qualitative research focuses on understanding the why and how behind consumer behavior. Both are crucial components of effective market research.

What is a market research presentation?

Now that we have a clear understanding of market research, let's move on to market research presentations. A market research presentation is the culmination of your research efforts, a visual and data-driven representation of your findings. It's the bridge that connects your research to your stakeholders, making it easier for them to grasp the insights you've gathered.

A well-crafted market research presentation is not just a collection of slides; it's a storytelling platform. It should engage your audience, present data in an understandable manner, and ultimately guide your stakeholders towards informed decision-making.

What to include in a market research presentation?

Creating a market research presentation involves more than just inserting a few charts and graphs. To ensure your presentation hits the mark, here are some essential elements to include:

1. Market research overview

• Define the purpose and objectives of your research.
• Provide a brief overview of the market you've studied.

2. Methodology

• Explain how you conducted your research, whether through surveys, data analysis, or other methods.
• Discuss any challenges you faced and how you overcame them.

3. Key findings

• Highlight the most significant discoveries from your research.
• Use charts, graphs, and infographics to visualize data.

4. Market analysis

• Dive deep into your market analysis, discussing trends, competition, and market share.
• Share insights that can impact the business.

5. Recommendations

• Based on your findings, provide actionable recommendations.
• Discuss the pros and cons of each recommendation.

6. Conclusion

• Summarize the core points of your presentation.
• Emphasize the key takeaways for your audience.

How to structure a market research presentation

Structuring a market research presentation effectively is essential to convey your findings and insights clearly to your audience. Whether you're presenting to stakeholders, colleagues, or clients, a well-structured presentation can make your data more understandable and impactful. Here's a suggested structure for a market research presentation:

1. Title slide

• Title of the Presentation
• Your Name and Affiliation
• Date of the Presentation
• Briefly outline what you will cover in the presentation. This gives your audience a roadmap of what to expect.

3. Introduction

• Provide a brief overview of the purpose and context of your market research.
• Explain why the research was conducted and its relevance.

4. Background and objectives

• Describe the background information, including any relevant industry trends or developments.
• Clearly state the research objectives and what you aimed to achieve.

5. Methodology

• Explain the research methods and techniques used.
• Discuss the data collection process, sample size, and any limitations.

6. Data collection

• Present the findings from your research.
• Use charts, graphs, and visuals to make data more accessible.
• Highlight key insights and trends.

7. Analysis and interpretation

• Explain the significance of the findings.
• Interpret the data and provide insights.
• Address any unexpected or interesting observations.

8. Competitor analysis

• Analyze the competitive landscape in your market.
• Highlight strengths, weaknesses, opportunities, and threats (SWOT analysis) for your company and competitors.

9. Consumer insights

• Share any insights into customer preferences, needs, and behaviors.
• Explain how these insights impact your business.

10. Recommendations

• Based on your research, provide actionable recommendations.
• Highlight strategies or changes that should be implemented.

11. Implementation plan

• If applicable, outline a plan for implementing the recommendations.
• Include timelines, responsibilities, and resources needed.

12. Conclusion

• Summarize the key points of your presentation.
• Reiterate the importance of the research.

13. Q&A session

• Open the floor for questions and discussion.

14. Appendix

• Include any supplementary information, detailed data, or additional charts and graphs.
• Ensure that this information is easily accessible but not essential for understanding the main presentation.

15. Contact information

• Provide your contact information in case the audience has further questions or needs clarification.

16. Thank you slide

• Express your gratitude for the audience's time and attention.

Remember to keep your presentation clear, concise, and visually engaging. Use visuals sparingly but effectively to support your points. Practice your delivery to ensure that you can explain the findings and recommendations confidently. Tailor the presentation to the needs and interests of your specific audience.

Do’s and don'ts on a market research presentation

To ensure your market research presentation hits the mark, here are some do's and don'ts to keep in mind:

• Do your research: Know your subject matter inside out.
• Do use visuals: Incorporate charts, graphs, and infographics.
• Do engage your audience: Encourage questions and discussions.
• Do practice: Rehearse your presentation until you're confident.

Don'ts:

• Don't overwhelm with data: Keep it concise and focused.
• Don't read slides: Speak naturally and use slides as visual aids.
• Don't rush: Take your time; clarity is key.
• Don't ignore questions: Address all queries from your audience.

Summarizing key takeaways

In this comprehensive guide, we've covered the ins and outs of creating and presenting a market research presentation. From understanding the basics of market research to crafting engaging presentations, you now have the knowledge to excel in this essential aspect of business strategy.

• Market research essentials: Market research is the process of gathering, analyzing, and interpreting data about a specific market, industry, or consumer group. It provides the foundation for informed decision-making in business.
• The role of market research presentations: A market research presentation is a visual and data-driven representation of research findings. It serves as a bridge between your research and stakeholders, helping them understand and act upon the insights you've gathered.
• Elements of a great presentation: A well-crafted market research presentation includes an overview, methodology, key findings, market analysis, recommendations, and a concise conclusion. These elements help structure your presentation effectively.
• Presentation delivery matters: Knowing your audience, practicing your presentation, engaging your audience, using visuals effectively, and being concise are all crucial for a successful presentation.
• Do's and don'ts: Do your research thoroughly, use visuals to enhance understanding, engage with your audience, and practice your delivery. Avoid overwhelming with data, reading slides, rushing through your presentation, and ignoring audience questions.

Remember, an effective market research presentation isn't just about showcasing data; it's about telling a compelling story that guides decision-making. So, use the power of visuals, engage your audience, and deliver insights that make a real impact.

1. Why is using a market research presentation template important?

Using a market research presentation template can streamline your research process. It provides a structured framework in powerpoint ppt with graphs and charts that help you present the results effectively. You can easily download a market research presentation template to make your presentation look professional and save time in creating a presentation design.

2. How can I effectively communicate market trends in my presentation?

To effectively communicate market trends in your presentation, start your presentation by explaining the research process and how you conducted market research. Use market research powerpoint (ppt) slides with graphs and charts to show key pieces of information. Connect the dots between the data and present the results using the market research PowerPoint template. This will make your presentation more engaging for your audience.

3. Why is market research essential for launching a new product or service?

Market research is essential when you want to present a new product or service idea to your core business audience. By conducting market research, you gather valuable insights about your target market, which can be used to create your presentation. A well-designed research ppt can make the best case for your business idea by showcasing the market trends and data you've collected.

4. How do I use market research to make my presentation more impactful?

To make your presentation more impactful, start by using a market research presentation template. Incorporate graphs and charts to present the research data effectively. Make sure your presenter skills are polished when presenting your research to stakeholders or investors. Use market research PowerPoint slides to show key findings and connect the dots between the research process and the business objectives you want to achieve.

5. Can you provide tips on how to present the results of my market research effectively?

Certainly! When presenting your research, use a market research PowerPoint template to organize your content. Download a template that suits your needs. Focus on the research design and how you conducted market research, talking to customers and gathering data. Use the template to create your presentation and ensure it flows smoothly. This will help you present the results in a way that engages your audience and conveys the importance of the research in supporting your business goals.

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Module 6: Marketing Information and Research

The importance of marketing information and research, learning objectives.

• Define marketing information
• Explain why organizations use marketing information to provide customer insights

Fresh Customer Insights

Effective marketing starts with a strong knowledge of your customers: the kind of knowledge that gives you unique insights into what they want and how to satisfy them better than the competition. The most reliable source of fresh customer insights is good  marketing information . Useful marketing information may come from a variety of sources both inside and outside your organization. Marketing information is generated by a variety of different activities, including marketing research.

Marketing research is a systematic process for identifying marketing opportunities and solving marketing problems, using customer insights that come out of collecting and analyzing marketing information. The mechanics of marketing research must be controlled so that marketers uncover the relevant facts to answer the problem at hand. Control over this fact-finding process is the responsibility of the marketing research director, who must correctly design the research and carefully supervise its execution, to ensure it yields the customer insights the organization needs.

A marketing information system is a combination of people, technologies, and processes for managing marketing information, overseeing market research activities, and using customer insights to guide marketing decisions and broader management and strategy decisions.

Knowledge Is Power Against the Competition

The business environment is increasingly competitive. With something as simple as a Google search, customers have unprecedented opportunities to explore alternatives to what any single company offers. Likewise, companies have ample opportunity to identify, track, and lure customers away from their less-vigilant competitors. A regular infusion of fresh customer insights can make all the difference between keeping customers and losing them. Marketing information and research are essential tools for marketers and the management team as they align strategy with customer wants and needs.

Consider the following examples:

• Before introducing OnStar, the first-ever embedded wireless service in cars, GM used marketing research to understand what types of applications would make consumers most interested in subscribing to the service and how much they would pay for it. Of all the benefits OnStar could offer, the research helped GM prioritize how the initial service would provide value, focusing on driver assistance and security. Research also helped determine OnStar pricing to help the company build a large subscriber base quickly. [1]
• Enterprise systems provider PeopleSoft recruited a diverse set of universities as early-adopter “Beta” partners to provide input as it designed a new student information system for higher education. This marketing research helped PeopleSoft create a versatile system that could support the needs of a variety of colleges and universities, ultimately leading to strong receptivity and market share when the new system became widely available. [2]
• Marketing research to track brand awareness and perceptions helped the World Wildlife Fund (WWF) understand that it had an image problem. Although millions of people recognized and liked the brand, relatively few of them understood what the nonprofit organization actually does for habitat conservation worldwide. Instead, most thought of it as simply the “endangered species” people. With additional research, the organization found that when it communicated effectively about the full scope of its mission, people felt even stronger positive associations, making them more likely to support or affiliate with the nonprofit. [3]

What Should Marketers Investigate Using Marketing Information?

An easy—and truthful—answer to this question is “everything.” There is no aspect of marketing to which information and research do not apply. Every marketing concept and every element involved in the marketing management process can be subjected to a great deal of careful marketing research and inquiry. Some important questions include:

• Who is the customer?
• What problems is the customer trying to solve with a given purchase?
• What does s/he desire in the way of satisfaction?
• How does the customer get information about available choices?
• Where does s/he choose to purchase?
• Why does s/he buy, or not buy?
• When does s/he purchase?
• How does s/he go about seeking satisfaction in the market?

Seeking answers to these questions yields insights into the customer’s needs, perceptions, and behaviors. Another area in which research is critical is profitability. Organizations need to forecast sales and related costs in order to understand how their operations will be profitable. They also need to plan competitive marketing programs that will produce the desired level of sales at an appropriate cost. The analysis of past sales and interpretation of cost information are important in evaluating performance and providing useful facts for future planning. All these activities rely on marketing information and a rigorous marketing research process to produce insights managers can trust and act on.

When to Use Marketing Information and Research

Many marketing decisions are made without consulting marketing information or the use of formal marketing research. For example, a decision maker may feel she already knows enough to make a good decision. The time required to investigate a question or conduct formal marketing research may not be available. In other cases, the cost of obtaining the data is prohibitive, or the desired data cannot be obtained in reliable form. In a few instances, there may be no choice among alternatives and therefore no decision to make because there is little value in spending time and money to study a problem if there is only one possible solution. But in most business situations, marketers and managers must choose among two or more courses of action. This is where fact-finding, marketing information, and research enter to help make the choice.

Marketing information and research address the need for quicker, yet more accurate, decision making by the marketer. These tools put marketers close to their customers to help them understand who they customers are, what they want, and what competitors are doing. When different stakeholders have very different views about a particular marketing-related decision, objective information and research can inform everyone about the issues in question and help the organization come to agreement about the path forward. Good research should help align marketing with the other areas of the business.

Marketers should always be tapping into regular sources of marketing information about their organization and industry in order to monitor what’s happening generally. For example, at any given time marketers should understand how they are doing relative to sales goals and monitor developments in their industry or competitive set.

Beyond this general level of “tuning in,” additional market research projects may also be justified. As a rule, if the research results can save the company more time, money, and/or risk than it costs to conduct the research, it is wise to proceed. If the cost of conducting the research is more than it will contribute to improving a decision, the research should not be carried out. In practice, applying this cost-test principle can be somewhat complex, but it provides useful guidance about when marketing research is worthwhile. Ultimately, successful marketing executives make decisions on the basis of a blend of facts and intuition.

Fact: Top Performers Research Customer Preferences

In 2010, the management consultancy McKinsey published research about the difference between organizations that produced top-performing products and those that produced under-performing products. The use of marketing research was a striking differentiator:

More than 80 percent of the top performers said they periodically tested and validated customer preferences during the development process, compared with just 43 percent of bottom performers. They were also twice as likely as the laggards to research what, exactly, customers wanted. [4]  

The study also identified other differences between top and bottom performers, but an underlying theme was the emphasis successful projects and companies placed on understanding their customers and adjusting course when necessary to better address customers’ needs. This research provides more than anecdotal evidence that marketing research and well-applied marketing information can make a substantial contribution to an organization’s success.

• Vincent P. Barabba, Surviving Transformation: Lessons from GM's Surprising Turnaround , pp 46–50, https://books.google.com/books?id=VvbDYad7cLoC&pg ↵
• Proquest, "First We Built, Now We Buy: A Sociological Case Study for Enterprise Systems in Higher Education," pp 292–203, https://books.google.com/books?id=rgIAaigKQBIC&pg ↵
• "The Role of Brand in the Nonprofit Sector: Four Case Studies," pp 1–7, http://www.ksghauser.harvard.edu/nonprofit-brand-conference/materials/assets/Case%20Studies%20-%20Dec%208%20Nonprofit%20Brand%20Conference.pdf ↵
• http://www.mckinsey.com/insights/operations/the_path_to_successful_new_products ↵
• Revision and Adaptation. Authored by : Lumen Learning. License : CC BY: Attribution
• Chapter 3: Marketing Research: An Aid to Decision Making, from Introducing Marketing. Authored by : John Burnett. Provided by : Global Text. Located at : http://solr.bccampus.ca:8001/bcc/file/ddbe3343-9796-4801-a0cb-7af7b02e3191/1/Core%20Concepts%20of%20Marketing.pdf . License : CC BY: Attribution
• WWF Hot-Air Balloon in Brazil. Authored by : Josu00e9 Cruz/ABr. Provided by : Wikimedia. Located at : https://commons.wikimedia.org/wiki/File:WWFbalaobrasilia22032007.jpg . License : CC BY: Attribution

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UNH Extension Seeks a Field Specialist in Community Conservation

This position is located in Extension’s Rockingham County office in Brentwood, N.H.

The Extension field specialist in community conservation for Rockingham County will implement University of New Hampshire (UNH) Cooperative Extension’s mission through the application of research-based knowledge and information from UNH, the nationwide land-grant system, and other sources of reputable research to ensure informed decision-making that strengthens youth, family and community, sustains natural resources, and improves the economy.

The field specialist develops, implements, monitors, evaluates and reports on county and regional (N.H. coastal watershed) support for land and community conservation, including technical land conservation assistance to local conservation commissions, land-use regulations in support of natural resource conservation, support of regional land conservation efforts, land stewardship, land conservation options and estate planning, conservation funding sources, and cost share programs. The field specialist also develops, implements, monitors, evaluates and reports on statewide programming in land and community conservation in one or more of these areas: land conservation best practices, conservation planning, land-use regulations, land stewardship and management, land conservation options and estate planning, and social marketing for natural resources. The field specialist provides leadership and collaboration in determining needs; establishing priorities; developing marketing; and implementing, evaluating and reporting on educational programs in an assigned Area of Expertise (AoE) in alignment with the natural resource program team’s vision and goals.

This work will be done both individually and in cooperation with UNH colleagues, land trusts, conservation organizations, natural resource professionals, communities, county advisory councils, state and federal agencies, and other partners. Audiences and clientele include primarily conservation commissioners, land trusts, conservation organizations, municipal/government staff, communities, natural resource professionals and volunteers, but may also include private landowners, youth and the general public.

• Work with a team of Extension state and field specialists to plan, develop, implement and evaluate innovative educational programs in a specific field of study as specified in the plan of work, under supervision of the program team leader.
• Involve the County Cooperative Extension Advisory Council and local agencies and organizations in educational needs assessment and program development.
• Cooperate with colleagues to support, develop, implement and report on disciplinary and interdisciplinary programs that benefit Rockingham County and the entire state.
• Serve on internal committees and external boards at the local, state or national level as appropriate to the position’s plan of work.
• Prepare appropriate reports required by UNH Cooperative Extension, county government, partners and funders.
• Ensure programmatic involvement of underserved and underrepresented audiences and that all educational programming is designed and conducted in full accordance with the spirit and policies of civil rights, Equal Employment Opportunity (EEO), Affirmative Action (AA) and Americans with Disabilities Act (ADA) policies and procedures.
• Develop and implement county, regional and statewide marketing strategies to promote UNH Extension and its programs in accordance with good public relations and the organization’s established marketing policies.
• Build and maintain relationships with UNH faculty in relevant disciplines.
• Develop partnerships with local and state agencies and organizations.
• Develop productive relationships with elected and appointed officials.
• In consultation with the program team leader and the area of expertise chair, and in accordance with UNH and Cooperative Extension external funding guidelines, seek external funds to enhance programs and achieve educational goals.
• Participate in grant-funded projects with Extension colleagues as appropriate and as approved by the program team leader.
• Utilize sound management strategies with county and state funding to enhance delivery of effective programs and assist clients.
• Assist communities in the development of Natural Resources Inventories, including supporting the use of the N.H. Method for Wetland Assessment, incorporating N.H. Wildlife Action Plan data and N.H. Forest Action Plan strategies.
• Demonstrate effective interpersonal verbal and written skills.
• Make effective and innovative use of media and computer technologies in educational program development and delivery and in disseminating information to the public.
• Demonstrate effective problem-solving skills.
• Build productive working relationships with Extension colleagues in N.H. and other states.
• Maintain regular communication with the program team leader and area of expertise chair (an appointed Extension colleague who leads the field specialist’s work team). Keep them fully apprised of county issues, programs, needs and accomplishments and involve them in programs to address these needs as appropriate.
• Serve as the UNH Extension county office administrator (COA) when the need is identified and as advised by the program team leader and Extension administration.
• When it is another colleagues’ time to serve as COA, support that person in the performance of their duties and carry out appropriately delegated responsibilities.
• Serve in UNH Extension organizational leadership or committee roles.
• Welcome new Extension staff and engage in their success.
• Serve in a mentor capacity as needed and where appropriate.
• Provide input into the evaluation of co-workers.
• Develop and implement a professional development plan to maintain and enhance competence in appropriate subject areas and professional skills such as leadership, group process and facilitation.
• A master’s degree in a related field and two years of relevant experience is preferred. One degree must be in forestry, wildlife, natural resources, or a closely related field from an accredited institution. A strong candidate with a bachelor’s level degree in an appropriate discipline with related experience may be considered if willing to obtain a master’s degree within seven years of hire.
• High degree of subject matter competence in land conservation. Additional expertise in working with communities is desirable.
• Experience working with at least some of the following audiences: conservation organizations, city/town boards, state government and federal agencies.
• Demonstrated competency in presenting educational programs and using computers and current communication technology (e.g., presentation software, video conferencing).   
• Able to accomplish extensive, year-round field work
• Excellent written and oral communication skills
• Able to work effectively and cooperatively with co-workers and people with a variety of values and interests and of all ages, ethnic backgrounds, income and education levels.
• Willing to participate in professional development activities to add and enhance knowledge in land and community conservation, land stewardship and management, land conservation best practices, land conservation options and estate planning, and land-use regulations.
• Willing and able to work some nights and weekends for programs, events or meetings
• Maintain a valid driver’s license and access to a personal vehicle for frequent local travel. Mileage will be reimbursed at the federal rate.
• At least two years of relevant professional experience in the area of land and water conservation/management, with Extension education and/or similar outreach experience.
• Demonstrated competency with computers and current technology, such as Microsoft Office 365, Outlook, Microsoft Teams, Zoom, Geographic Information Systems (GIS), Global Positioning Systems (GPS), and online mapping software.

The University System of New Hampshire is an Equal Opportunity/Equal Access/Affirmative Action employer. The University System is committed to creating an environment that values and supports diversity and inclusiveness across our campus communities and encourages applications from qualified individuals who will help us achieve this mission. The University System prohibits discrimination on the basis of race, color, religion, sex, age, national origin, sexual orientation, gender identity or expression, disability, veteran status, or marital status, genetic information, and political orientation. Application by members of all underrepresented groups is encouraged. Hiring is contingent upon eligibility to work in the U.S. 

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Marketing Information System and Marketing Research

Apr 05, 2019

780 likes | 1.02k Views

Marketing Information System and Marketing Research. Foreword:. “ Know your enemy and know yourself , and in a hundred battles you will never be in peril” - Sun-Tzu. OBJECTIVES. After reading this chapter, you should be able to:.

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Marketing Information System and Marketing Research Foreword: “Know your enemy and know yourself, and in a hundred battles you will never be in peril” -Sun-Tzu

OBJECTIVES After reading this chapter, you should be able to: • Explain the importance of information in gaining insights about the marketplace and customers. • Explain the marketing information system concept. • Outline the marketing research process, including defining problem & research objectives, developing the research plan, implementing the research plan, and interpreting and reporting the findings. • Explain how companies analyze and use marketing information.

Marketing Information Systems and Research Harrah’s • Companies everywhere covet the title “The world’s greatest” and casino operator Harrah’s Entertainment rightly claims that title in the gaming industry. • following acquisition of Caesars Entertainment, Harrah’s now captures $7.1 billion in revenue from 43 properties • Harrah’s portfolio includes such casino and gaming brands as Harrah’s, Caesars, Horseshoe, Bally’s, Flamingo, Showboat, and The World Series of Poker. • In the four years prior to the acquisition, Harrah’s annual sales grew 37% and profits soared 76%. tab

Marketing Information's Systems and Research Harrah’s • Why has Harrah’s been so successful? • everyone at Harrah’s will quickly tell you it’sall about managing customer relationships • What sets Harrah’s apart is the way it relates to its customers and creates customer loyalty. • during the past decade, Harrah’s has become themodel for good CRM & customer-loyalty management • At the heart of the Harrah’s CRM strategy is its pioneering card-based Total Rewards program. • the gaming industry’s first & by far most successful loyalty program tab

Marketing Information's Systems and Research Harrah’s • first, the company uses Total Rewards to collect amother lode of information about customers • it then mines this information to identify important customers and finely tune market offerings to theirspecific needs • Total Rewards members receive points based on the amount they spend at Harrah’s facilities. • points are redeemed for perks, such as cash, food, merchandise, rooms, and hotel show tickets • Total Rewards forms the basis for a two-part CRM process… tab

Marketing Information's Systems and Research Harrah’s • More than 80% of Harrah’s customers worldwide—40 million customers—use a Total Rewards card. • Information from every swipe of every card at each of Harrah’s forty-three casinos zips off to a central computer in Memphis, Tennessee. • analyzing this data gives Harrah’s detailed insights into casino operations • More importantly, the data provides insight into the characteristics & behavior of individual customers. • who they are, how often they visit, how long they stayand how much they gamble and entertain tab

Marketing Information's Systems and Research Harrah’s • From its Total Rewards data, Harrah’s has learned that 26% of its customers produce 82% of revenues. • And these best customers aren’t the high rollers that have long been the focus of the industry. • they are ordinary folks from all walks of life • Most often, these customers visit casinos for an evening rather than staying overnight at the hotel. • and are more likely to play at the slots than at tables • Using such insights, Harrah’s focuses its marketing and service development strategies on the needs of its best customers. tab

Marketing Information's Systems and Research Harrah’s • The data insights help Harrah’s do a better job of managing day-to-day customer relationships. • Harrah’s is now starting to process customer data in real time from the moment customers swipe their rewards cards. • an ideal link between data & customer experience Harrah’s chief information officer calls “operational CRM” • Happy customers are much more loyal. • where customer spending decreases by 10% based onan unhappy casino experience, it increases by 24% witha happy experience tab

Marketing Information's Systems and Research Harrah’s • With Total Rewards, Harrah’s has seen its share of customers average gambling budgets rise 20%. • revenue from customers gambling at Harrah’s ratherthan their “home casino” has risen 18% • Harrah’s CEO Gary Loveman says Total Rewards “touches in some form or fashion 85% of our revenue.” • Through smart CRM investments, Harrah’s shows how marketers can use information to gainpowerful customer market insights. tab

Marketing Information's Systems and Research Marketing Information and Customer Insights • To create value for customers & build meaningful relationships with them, marketers must gain fresh, deep insights into what customers need and want. • such insights come from the good marketing information • While these insights are important for building value and relationships, they can be very difficult to obtain. • customer needs & motives are often anything but obvious • Marketers must effectively manage marketing information from a wide range of sources. • with information technologies, companies cannow generate information in great quantities tab

Marketing Information's Systems and Research Marketing Information and Customer Insights • Most marketing managers are overloaded with data and often overwhelmed by it, yet complain they lack enough information of the right kind. • They don’t need more information—they need better information — and to make better use of information they already have. • a company’s marketing research & information system must do more than just generate lots of data • The real value of marketing research and marketing information lies in how it is used—in the customer insights that it provides. tab

Marketing Information's Systems and Research Marketing Information and Customer Insights • Many companies are now restructuring & renaming their marketing research and information functions. • Customer insight groups collect customer & market information and use the marketing information to develop important customer insights from which the company can create more value for its customers. • one customer insights group states its mission simply as “getting better at understanding our consumers and meeting their needs.” tab

Marketing Information's Systems and Research The Marketing Information System • it interacts with managers to assess their information needs • it develops needed information from internal company records, marketing intelligence activities, and the marketing research process • analysts process information to make it more useful • the MIS distributes information to managers in the right form, at the right time to help in marketing planning, implementation, and control • A marketing information system (MIS) consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers. tab

Figure 5-1 Marketing Information System Marketing Information's Systems and Research The Marketing Information System tab

The Marketing Information System Assessing Information Needs • A good marketing information system balances information managers would like to have againstthat which they really need & is feasible to obtain. • Some managers ask for whatever data they can get without thinking carefully about cost or usefulness. • too much information can be as harmful as too little • Other busy managers may fail to ask for things they need to know, or managers may not ask for some types of information that they should have. tab

The Marketing Information System Obtaining Data • The costs of obtaining, processing, storing, and delivering information can add up quickly. • The company must estimate the value of having an item of information against the costs of obtaining it. • value depends on how it will be used, and this judgmentis highly subjective • Sometimes additional information contributes littleto improving a manager’s decision • the cost may exceed the benefit tab

Table 5-1 Questions for Assessing Marketing Information Needs The Marketing Information System Developing Information • The answers to the questions in Table 5–1 will help managers assess their marketing information needs. tab

The Marketing Information System Developing Information - Internal Data • Many companies build extensive internal databases,of consumer & market information obtained fromdata sources within the company network. • information in the database can come from many sources • Internal data are accessed more quickly & cheaply than other sources, but presents some problems. • it may be incomplete or in the wrong form for marketing • data also age quickly; keeping the database current requires a major effort • Every company contains more information than any manager can possibly know or analyze. tab

The Marketing Information System Developing Information - Internal Data • The company brings order to its information gold mine, so its managers can easily make informed decisions. • Increasingly, companies are creating data warehouses to house customer data in an accessible location. • using powerful data mining techniques, they search for meaningful patterns & communicate them to managers • Managers can use information gathered from these and other sources to evaluate performance and detect problems and opportunities. tab

The Marketing Information System Developing Information - Guest History Information • improving service • creating effective advertising & sales promotion programs • developing new products • improving existing products • developing marketing and sales plans • development & use of an effective revenue management program • Guest information is vital to… • Unfortunately, far too many hospitality firms have only a vague idea of who their guests are. tab

The Marketing Information System Developing Information - Guest History Information • Specific guest information needs may include any or all of the data shown in Table 5–2 on Page 116. • While this list may seem overbearing and unduly inquisitive, hospitality companies increasinglycollect and use this type of information. • a hospitality company must be very careful not toinfringe on privacy rights of guests or to disturb them • An amazing amount of this information is available from internal records, which requires interfacingwith other departments, such as reservations and accounting. tab

The Marketing Information System Developing Information - Guest Information Trends • booking patterns • cancellations • conversion percentages (percentage of inquiries to reservations) • overbooking patterns • historical trends on occupancy for prime, shoulder, and low seasons • yield patterns by season • Information concerning guest trends is vital to planning and revenue/yield management, andinclude the following: tab

The Marketing Information System Guest Information Management - Acquisition • A system for obtaining guest information may include any or all of these techniques: • Handwritten Journals, Card Files from Guest Registrations and Personal Observations. • despite an apparent 19th-century style, thisis often adequate for small enterprises • Guest Comment Cards. • provide useful information & insights into problem areas • Listening to & Speaking with Guests. • an excellent way to find out what guests think, and management hears it firsthand tab

The Marketing Information System Guest Information Management - Acquisition • Automated Systems. • decreasing cost & increasing capacity of automated guest history systems will allow hotels to create close relationships with their customers once again • Mystery Shoppers—a $1.5-billion industry. • companies often hire disguised or mystery shoppers to pose as customers and report back on their experience • A mystery shopper works best if there is a possibilityfor recognition and reward for good job performance • Company Records. • one of the most misused sources of information tab

The Marketing Information System Guest Information Management - Acquisition • Point-of-Sale Information. • a POS system can collect information about individual restaurant patrons where credit cards are used tab

Marketing Intelligence Internal & External Sources • Marketing intelligence includes everyday data about developments that helps managers prepare and adjust marketing plans and short-run tactics. • It can be gathered by executives, front-desk staff, service staff, purchasing agents, and sales force. • Hotel owners and managers are essential parts of a marketing intelligence system. • managers should debrief contact personnel regularly • A hospitality company must encourage suppliers, convention and tourist bureaus, and travel agenciesto pass along important intelligence. tab

Marketing Intelligence External Sources • The three types of external marketing information & their sources are shown in Table 5–3 on page 123. • macromarket information; competitive information; new innovation and trends • It is worthwhile to encourage gathering of this data by treating vendors, salespeople, and potential employees in a friendly and receptive manner. • Members of management should be encouraged to join community and professional organizations. • where they are likely to obtain essential marketing information tab

Marketing Intelligence Sources of Competitive Information • Competitive intelligence is available from trade magazine articles, competitors’ reports, speeches, press releases, brochures, and advertisements. • managers should also visit competitors’ premises regularly • Using the Internet, marketers can search competitor names, events, or trends & see what turns up. • Companies can subscribe online databases and information search services. • Dialog, DataStar, LEXIS-NEXIS, Dow Jones News Retrieval, UMI ProQuest, and Dun & Bradstreet’s Online Access tab

Marketing Intelligence Sources of Competitive Information • Hospitality managers can subscribe to newsletters such as National Restaurant Association Smart Brief and hotelmarketing.com • Associations sometimes collect data from member companies, compile it, and make it available to members for a reasonable fee. • this data can be misleading because member companies may provide incorrect data or refuse to contribute statistics if they have a dominant market share tab

See this feature on page 124 of your textbook. tab

Figure 5-2 Marketing research process. Marketing Research Introduction • Casual marketing intelligence cannot answer some questions, and managers sometimes need to commission formal marketing research. • Marketing research identifies and defines marketing opportunities & problems, monitors and evaluates marketing actions & performance, and communicates the findings and implications to management. tab

Marketing Research 10 Common Activities • measurement of market potentials • market-share analysis • determination of market characteristics • sales analysis • studies of business trends • short-range forecasting • competitive product studies • long-range forecasting • marketing information systems studies • testing of existing products • The ten most common activities in which marketing researchers engage are... tab

Marketing Research Conducting Research • A company can conduct marketing research by employing its own researchers or hiring outside researchers. • Most large companies—more than 73%—have their own marketing research departments. • even companies with their own departments hire outside firms to do fieldwork and special tasks tab

Marketing Research Marriott • market segmentation and sizing • concept development and product testing • price-sensitivity assessment • advertising and promotions assessment • market tracking • customer satisfaction • Frank Camacho, former vice president of corporate marketing services for Marriott, listed Marriott’s research priorities as follows: tab

Marketing Research Defining the Problem and Research Objectives • Managers must work closely with researchers to define the problem & research objectives. • they must know enough about marketing researchto interpret the findings carefully • If they know little about marketing research, they may accept the wrong information, draw wrong conclusions, or request more data than they need. • marketing researchers can help the manager define the problem and use the findings correctly • Assuming the problem is well defined, the manager and researcher must set research objectives. tab

Marketing Research Defining the Problem and Research Objectives • exploratory research, to gather preliminary information that will help define the problem and suggest hypotheses • descriptive research, to describe size & composition of the market • causal research, to test hypotheses about cause-and-effect relationships • A marketing research project can have one of three types of objectives: tab

Marketing Research The Research Plan - Specific Information Needs • The second marketing research step is determining needed information & making a data collection plan. • research objectives must be translated into specific information needs • To meet a manager’s information needs, researchers can gather secondary data, primary data, or both. • primary data consist of information collected for the specific purpose at hand • secondary data consist of information already in existence somewhere, having been collected for another purpose tab

Marketing Research The Research Plan - Primary and Secondary Data • Researchers usually start by gathering secondary data, usually obtained more quickly and at a lower cost than primary data. • a good starting point for marketing research • When secondary sources can’t provide all the needed information, the company must collect primary data. tab

Table 5-4 Planning Primary Data Collection. Marketing Research The Research Plan - Primary and Secondary Data • Data collected casually can be useless or, even worse, misleading. • Designing a plan for primary data collection callsfor decisions about research approaches, contact methods, a sampling plan, and research instruments. tab

Marketing Research Research Approaches • this research can yield information people are normally unwilling or unable to provide • companies now use ethnographic research, observers who watch & interact with consumers • feelings, beliefs, and attitudes that motivate buying behavior cannot be observed. • long-run or infrequent behavior is also difficult to observe • Three basic research approaches are observations, surveys,and experiments. • Observational research is gathering of primary data by observing relevant people, actions, and situations. tab

Marketing Research Research Approaches • structured surveys use formal lists of questions askedof all respondents in the same way • unstructured surveys let the interviewer probe respondents and guide the interview according to their answers • the major advantage of survey research is its flexibility • sometimes people are can’t answer questions as they don’t remember or never thought about what they do & why • careful survey design can help minimize problems • Three basic research approaches are observations, surveys,and experiments. • Survey research, best suited to gathering descriptive information, can be structured or unstructured. tab

Marketing Research Research Approaches • the most scientifically valid research • experiments call for subjecting matched groups of subjects to different treatments, controlling extraneous variables, and checking whether observed response differences are statistically significant • if the experiment is well designed & executed, managers can have confidence in the conclusions • Three basic research approaches are observations, surveys,and experiments. • Experimental Research is designed to capture cause-and-effect relationships by eliminating competing explanations of the observed findings. tab

Table 5-5 Strengths and Weaknesses of the Three Contact Methods. Marketing Research Contact Methods • Information can be collected by three methods. • mail questionnaires can collect large amounts of information at a low cost per respondent. • telephone interviewing allows quick data gathering • personal interviewing takes two forms: individual (intercept) and in-depth methods tab

Marketing Research Online Interviews • Online research is estimated to make up over 35% of all survey-based research. • Smart companies are using them to augment rather than replace more traditional methods. • a director of marketing states, “Online is not a solution in and of itself …but it does expand our toolkit.” • Internet surveys are quick and can be inexpensive. • response rate can be a problem if they are not properly designed and targeted • Simple technology for a consumer market is critical. • don’t expect respondents to wait for graphics to load tab

See this feature on page 131 of your textbook. tab

Marketing Research Focus Groups • Focus groups are usually conducted by inviting 6-10 people to gather with a trained moderator to talk about a product, service, or organization. • The moderator starts with broad questions before moving to more specific issues. • encouraging open and easy discussion to foster group dynamics that will bring out true feelings and thoughts • Focus group interviewing is becoming a major marketing research tool for gaining customer insight. • especially suited for use by managers of hotels and restaurants, who have easy access to their customers tab

Active Group has a feature called Client Lounge that allows members of the organization conducting the focus group. Managers can view the focus group live on the Internet and discuss the event just as if they were physically present at the event. Courtesy of Active Group. Used with permission. Marketing Research Focus Groups tab

Marketing Research In-Depth Interviews • In-depth surveys, another form of qualitative personal interviewing, can be used when it isdifficult to put together a focus group. • Another form of qualitative personal interviewing, individual interviews using open-ended questions. • they allow a researcher to probe & gain insight into consumer behavior • Qualitative research is useful to gain insight into definitions and concepts as well as insight into survey results. tab

Marketing Research Sampling Plan • who will be surveyed? • how many people should be surveyed? • how should the sample be chosen? • when will the survey be given? • Marketing researchers usually draw conclusions about large consumer groups by taking a sample. • a segment of the population selected to represent the population as a whole • Ideally, the sample should allow accurate estimates of the thoughts & behaviors of the larger population. • Designing the sample calls for four decisions. tab

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Marketing Information System

Published by Alexina Lucas Modified over 5 years ago

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Presentation on theme: "Marketing Information System"— Presentation transcript:

Conducting Marketing Research & Forecasting Demand

Marketing Info. System Assessing Marketing Information Needs

Marketing Research and Information Systems

Kotler / Armstrong, Chapter 4

4 Conducting Marketing Research 1. What is Marketing Research? Marketing research is the systematic design, collection, analysis, and reporting of data.

Chapter Four Managing Marketing Information. Roadmap: Previewing the Concepts Copyright 2007, Prentice Hall, Inc Explain the importance of information.

Learning Goals Explain the importance of information to the company

Principles of Marketing

Conducting Marketing Research and Forecasting Demand

Marketing Research – Collecting Data

CHAPTER seven Marketing research.

Managing Marketing Information ROAD MAP: Previewing the Concepts Explain the importance of information to the company and its understanding of.

Marketing Info. System Marketing Information System (MIS)

GATHERING INFORMATION AND MEASURING MARKET DEMAND

1-1 Gathering Information and Measuring Market Demand by.

Managing Marketing Information Chapter Learning Goals 1.Explain the importance of information to the company 2.Define the marketing information.

Chapter Four Managing Marketing Information. Copyright 2007, Prentice Hall, Inc.4-2 The Importance of Marketing Information  Companies need information.

Copyright 2007, Prentice Hall, Inc. 1 1 Principles of Marketing Fall Term MKTG 220 Fall Term MKTG 220 Dr. Abdullah Sultan Dr. Abdullah Sultan.

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