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MARKETING RESEARCH AND MARKETING INFORMATION SYSTEM ( (MARKETING RESEARCH…
MARKETING RESEARCH AND MARKETING INFORMATION SYSTEM
MARKETING RESEARCH
Research types
By methodology
By source
Secondary - based on previously collected data
Primary/ field research - done from scratch
By objective
Descriptive
- To explain , monitor & test hypothesis
Casual
- To find cause & effect relationship of variables
Exploratory
- When little or no understanding about market research
Advantages
Help to identify opportunities
Measure organization reputation
Guide communication with current & potential customers
Identify potential problems
Help to plan ahead
Help to establish trends
Help to establish market positioning
Can determine most persuasive promise
Help minimize risks
To make right decisions
Monitor customer behaviour
Can evaluate company progress
Identify & adapt to environmental changes
Marketing research process
Collection of data
Primary
Secondary
Design the research plan
Research techniques
Research instruments
Data types
Design the sampling plan
Contact method
Data analysis & interpretation
Extract
Transform
Load
Define problem & set objectives
Presentation of research findings
Marketing research specifies
:
Design the method for collecting information
How to manage & implement the data collection process & analyse the results
Information required to address the issues
Information is used:
Generate refine and evaluate marketing actions
Monitor marketing performance
Identify and define marketing problems and opportunities
Improve understanding of marketing as a process
What?
Links consumer,customer,public to the marketer through information
VALUE > COST
Frequent technical pifalls
Sample size is small
Inadequate data collection
Designing the questionnaire
Poor definition of problem
When to conduct a market research
Availability of data
Nature of the decision
Time constraints
Benefits vs costs
When not to conduct
Research results not actionable
Closed mind set
Lack of resources
Late timing re-process
Poor timing re-market place
Vague objectives
Cost outweighs benefit
MARKETING INFORMATION SYSTEM
Sources of information
Marketing intelligence
Internal records
Marketing research
Steps
Developing information
Focus group interview
Survey research
Personal contact method
Observational research
Sampling research
Questionnaires
Assessing information needs
Distributing & using information
Advantages of MIS
Coordinated marketing plans
Avoidance of crises
Speed in obtaining sufficient information to make decisions
Storage of important data
Data kept over several time periods
Broad perspective
Ability to do a cost-benefit analysis
Organized data collection
MIS
