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Chapter FiveContinuousLearning About

Markets

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Continuous Learning AboutMarkets

Market orientation andorganizational learning

Marketing research information

Information systems

Marketing intelligence systems

and knowledge management

Issues in collecting and using

information

TM 5-1

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Market Orientation andOrganizational Learning

Market orientation perspectiveincludes all relevant sources ofknowledge and ideas

Characteristics of the learning

organization

Learning and competitiveadvantage

TM 5-2

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Learning About Markets

Open-MindedInquiry

Keeping andGaining Access

to Prior

Learning

SynergisticInformation

Distribution

Mutually

InformedInterpretations

Source: George S. Day, Journal of Marketing, October 199

TM 5-3

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Exhibit 5-1

A Framework for Market Sensing

Probability of the Event Occurring

Effect of theEvent on theCompany*

High LowMedium

1

2

3

4

5

6

7

* 1=Disaster, 2=Very bad, 3=Bad, 4=Neutral, 5=Good, 6=Very good, 7=Idea

UtopiaField ofDreams

Things toWatch

DangerFutureRisks

TM 5-4

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Types of Marketing Information

Marketing research studies

Standardized informationservices

Management informationsystems

Database systems

Decision support systems

Customer relationship

management (CRM) systemsCompetitor intelligence

systems

TM 5-5

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Strategies for Obtaining Information

Strategyalternatives

Use standardizedresearch services

Collect existinginformation

Conductresearch study

Internal Data

Publishedinformation

Subscription

Single purchase

Exploratory

Full-scale

TM 5-6

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Advantages and Limitationsof Questioning Methods

Advantages Limitations

Personal Interviews

Most versatile and High costflexible Possibility of interviewer

Long questionnaires biashandled more easily Possibility of cheating by

Presence of interviewer interviewer due to lackallows more flexibility of supervisionin procedure Project time often lengthy

More enjoyable for

respondentsFewer refusals

Telephone Interviews

Fewer interviewers needed More noncommittalRelatively inexpensive answersRapid method of data Some households

collection overrepresentedCan reach large number of Lengthy and detailed

households questions often notMore control over interviewers feasible

Mail surveys

Higher-quality information Questionnaire cannot be

Better for collecting changedinformation on possibly Complexembarrassing subjects Can be completed by

Relatively cheaper to conduct person other than intendNo interviewer bias Follow-up expensive

Response often slow incoming

Source: Harper W. Boyd, Jr., Ralph Westfall, and Stanley F. Stasch, Marketing ResearcText and Cases, 5th ed. (Homewood, IL Richard D. Irwin, 1981), Chap. 4.

TM 5-7

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Special Research Studies

ProblemDefinition

InformationRequired

ResearchMethod

SamplingPlan

QuestionnaireDesign

Data

Collection

Analysis andReport

TM 5-8

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1. Client Would you recommend

this supplier?

2. Supplier Do you havesufficient funds for this project?

3. What parts of the project will be

subcontracted, and how do you

manage subcontractors?

4. May I see your interviewers

manual and data entry manual?

5. How do you train and superviseinterviewers?

Exhibit 5-5

Screening A New

Research Supplier

TM 5-9

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6. What percentage of interviews arevalidated?

7. May I see a typical questionnaire?8. Who draws your samples?9. What percentage of your data entry

is verified?10. Managers What do you think

about this supplier?

TM 5-10

Source: Seymour Sudman and Edward Blair,

Marketing Research, A Problem-Solving Approach, Irwin/McGraw-Hill, 1998, 67.

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Marketing Decision-SupportSystem Components

Database

AnalysisCapabilities

Display

Models

TM 5-1

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Marketing Intelligence Systemsand Knowledge Management

Market sensing does not rely

on hard data alone

intelligence from publications, sales

calls, customer visits, social contacts,

Internet, rumor

Knowledge management

Role of the Chief Knowledge

Officer

Leveraging customerknowledge

creating customer knowledge

development dialogues

operating enterprise-wide customer

knowledge communities

capturing customer knowledge at the

point of customer contact

management commitment to

customer knowledge TM 5-1McGraw-Hill/Irwin 2003 The McGraw-Hill Companies, Inc., All Rights Reserved.

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Issues in Collectingand Using Information

Invasion of customer privacy e.g., use of medical databases to sell

healthcare products

Information and ethics

e.g., guidelines for sharing ofconfidential information

TM 5-1