11- marketing research & mis

8/2/2019 11- Marketing Research & MIS

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Marketing Research


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Marketing Information System

Consists of people, equipment, and procedures togather, sort, analyze, evaluate, and distributeneeded, timely and accurate information tomarketing decision makers.

Objective of MIS:To provide input from target markets, marketing

channels, competitors, publics, and other forcesfor creating , changing or improving the marketingdecisions.


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TargetMarkets

MarketingChannels

Competitors

Publics

MacroEnvironmental

Forces

Analysis

Planning

Implementation

Control

InternalRecords

MarketingIntelligence

Marketing

ResearchSystem

Marketing Information System

Decision

SupportSystem


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The inputs are provided through:Internal Record SystemMarketing Intelligence SystemMarketing Research SystemMarketing Decision Support System

Internal Record SystemAnalysis Information on orders, sales, prices, costs,

inventory levels, receivables, payables etc to findopportunities and problems

a) Order to Pay Cycleb) Sales information System


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Marketing Intelligence System

A marketing intelligence system is a set of

procedures and sources managers use to obtaineveryday information about developments in themarketing environment.

How Marketing Intelligence is collected?How to improve?

Decision Support System/ Info. AnalysisInterprets relevant information from business andenvironment and turns it into a basis for marketingaction.


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Databases:

Is the process of building, maintaining and using

customer databases and other databases (product,suppliers, resellers) for the purpose of contacting,

transacting and building customer relationships.

Database Mining:Marketers can extract useful information aboutindividuals, trends, and segments from the mass of

data. Data mining is done with the help of highlysophisticated statistical and mathematicaltechniques.


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Data Warehouse:

Companys contact center captures information

every time a customer comes into contact with any

of its departments. This includes a customer

purchase, a customer-requested service call, anonline query etc. These collected data is stored in

data warehouse.

Eg: Banks and credit card companies, Telephone

companies.


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Database Marketing:

Is the process of building, maintaining and using

customer databases and other databases (product,

suppliers, resellers) for the purpose of contacting,

transacting and building customer relationships.

Uses of databases

To identify prospects

To decide which customer should receive a

particular offer.

To deepen customer loyalty

To reactivate customer purchases


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Market ResearchIs the gathering ,recording and analyzing ofmarket data to identify the present and potentialcustomers with their motives and buying habits.

Marketing ResearchThe systematic design, collection, analysis andreporting of data and findings relevant to a specific

marketing situation facing the company.


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Marketing ResearchSystematic and intensive investigation.

To identify the present and potential customers and

their needs.

Better understanding and knowledge about the

present and future problems.Bridge the gap between marketers and customers.

Determine customers preferences with regard to

packaging, design, size, price, and other features ofproducts.

Profitability improvement.


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Objectives of the Marketing Research

Marketing Research

Knowledge about the natureand composition of customers.

Developing Marketing Mix.

Anticipate Competitivemoves.

Probe what went wrong.

Marketing Strategy


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The Marketing Research ProcessAn effective marketing research involves the six steps.

1.Define the Problem and the ResearchObjective

Problems should not be defined too broadly ortoo narrowly.

What is to be researched?

Why is to be researched ? Working backwards from the decisions.


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2. Develop the Research Plani. Develop the most effective plan for gathering the

information.ii. Decisions on the data sources, researchapproaches, research instruments, sampling plan,and contact methods.

Data sources: Primary data or Secondary data.

Research Approaches for Primary data collection:

Observational Research, Focus Group Research,Survey Research, Behavioral Data, ExperimentalResearch.


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Research Instruments:Questionnaires, Qualitative measures and

mechanical devices.

Sampling Plan:Sampling Unit: Who is to be surveyed?

Sample Size: How many people to be surveyed?Sampling Procedure: How should the respondentsbe chosen?

Contact methods:Mail Questionnaire, Telephone Interview, PersonalInterview, Online Interview.


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3. Collect the information.

Data collection phase of marketing research is the

most expensive and most prone to error.

4. Analyze the Information.Extract findings from the collected data.

Develops different frequency distribution.

5. Present the findings.Researchers has to present findings that are

relevant for making marketing decisions.

6. Make the decisions.

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