Chapter 7 Marketing Information Systems & Marketing Research
Chapter 7 Marketing Information Systems & Marketing Research
Chapter 7 Marketing Information Systems & Marketing Research
There are two kinds of knowledge: knowledge in your mind & knowledge of where you can find the information you need.
Outline The marketing information system (MIS) Assessing information needs Developing information Marketing research processing Information analysis Distributing information
Developing Information
Main Sources and Types 1. Internal records information 2. Marketing intelligence 3. Marketing research Information analysis
Developing Information
Internal Records Information gathered from sources within the company to evaluate marketing performance and to identify marketing problems and opportunities Internal database (Financial and nonfinancial data from PMS) Data warehouses (Customer data in the corporate office Ex. Wyndham Hotels) Guest history information (information gathered from guest records) Guest information trends (booking patterns, cancellations, occupancy patterns) Guest information management (e.g., guest comment cards, listening to and speaking with guests, mystery shoppers, P.O.S. information Example: Las Vegas Hilton) Corporate customer and marketing intermediary information (e.g., customer and prospective customer databases)
Marketing Intelligence Everyday information from internal and external sources about developments in the marketing environment that helps managers to prepare and adjust marketing plans and short-run tactics. Internal sources of marketing intelligence
- Gathered by company executives, and other employees External sources of marketing intelligence
- Macromarket information, competitive, new innovation and trends Sources of competitive information
- Annual reports, trade magazines, press releases, and advertisements Commercial sources of marketing information
- On-line databases of information services, electronic yellow pages Marketing Research A process used to identify and define marketing opportunities and problems, to monitor and evaluate marketing actions and performance, and to communicate research findings to management.
Example: When McDonalds decided to add salads to its menu, its planners needed to research customers preferences for types of vegetables and dressings. Most common activities: market share analysis, market potentials sales analysis, business trends, short-range forecasting, competitive Product studies, long-range forecasting, testing of existing products. 1. Own researchers 2. Outside researchers
Contact Methods
(Mail, telephone, personal, internet) Sampling Plan Research Instruments Presenting the Research Plan
Interpret and Report the Findings Turn data into information Interpret the findings Draw conclusions Report findings and conclusions
Information Analysis
This involves further and more detailed analysis of marketing intelligence and marketing research data (sometimes this is called secondary analysis of primary data) through:
Distributing Information
Information has no value until managers use it to make better decisions. It must reach the appropriate managers at the right time. Often information arrives too late to be useful.
Research on Market / Demand - Research on Price Research on Product / Brand - Research on Advertising & Promotions Research on Competition Methods - Research on Sales
Marketing Research
Helps Pick & Choose Customers, & Make Focused Offers Helps Know Which Products Move in the Market & Why Helps New Entrants Plan Their Channels by Studying Existing Ones
Pilot survey Field work Selection & training of investigation Interviewing / collection of data Supervision / overseeing the field work Processing Processing of data Tabulating Analyzing & Interpretation Editing Interpreting data Statistical analysis & Interpretation Report Making Summarizing findings & recommendations] Report writing