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CRAVENS

PIERCY

8/e
McGraw-Hill/Irwin

2006 The McGraw-Hill Companies, Inc., All

5-2

Chapter Five
Continuous
Learning About
Markets

McGraw-Hill/Irwin

2006 The McGraw-Hill Companies, Inc., All

5-3

Continuous Learning
About Markets
Market orientation and

organizational learning
Marketing research information
Information systems
Marketing intelligence systems
and knowledge management
Ethical issues in collecting and
using information

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Market Orientation
and Organizational
Learning

Market orientation
perspective includes all
relevant sources of
knowledge and ideas
Characteristics of the
learning organization
Learning and competitive
advantage

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Learning About Markets


OpenMinded
Inquiry
Keeping and
Gaining Access
to Prior
Learning

Synergistic
Information
Distribution

Mutually
Informed
Interpretations
Source: George S. Day, Journal of Marketing, October 1994.

Illustrative Example: The


Bombay Company

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Turnaround strategy at The Bombay Company


started with customer research examining
shopping experiences and what consumers really
wanted from a home furnishings supplier
This drove major changes in how goods were
displayed and presented to overcome perceptions
of confused merchandizing and pricing
Stores were re-merchandized around themes to
overcome consumer feelings that the company
was too stuffy
The research showed that catalogs were used for
decorating ideas not product listings, so they were
restyled around lifestyle choices
The Bombay Company strategy is driven by
extensive market research and rewsponse to
customer feedback

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A Framework for
Market Sensing
Probability of the Event Occurring
High

Medium

Low

7
6

Effect of the
Event on the
Company*

Field of
Dreams

Utopia

5
Things to
Watch

4
3
2

Danger

Future
Risks

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

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Types of Marketing
Information
Marketing research studies
Standardized information

services
Management information
systems
Database systems
Decision support systems
Customer relationship
management (CRM) systems
Competitor intelligence systems

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Strategies for Obtaining Information

Internal Data
Collect existing
information

Published
information
Subscription

Strategy
alternatives

Use standardized
research services

Single purchase

Exploratory
Conduct
research study

Full-scale

Advantages and Limitations


5-10
of Questioning Methods
Advantages
Limitations
Personal Interviews
Most versatile and
flexible
Long questionnaires
handled more easily
Presence of interviewer
allows more flexibility
in procedure
More enjoyable for
respondents
Fewer refusals

High cost
Possibility of interviewer
bias
Possibility of cheating by
interviewer due to lack
of supervision
Project time often lengthy

Telephone Interviews
Fewer interviewers needed
Relatively inexpensive
Rapid method of data
collection
Can reach large number of
households
More control over interviewers

More noncommittal
answers
Some households
overrepresented
Lengthy and detailed
questions often not
feasible

Mail surveys
Higher-quality information
Better for collecting
information on possibly
embarrassing subjects
Relatively cheaper to conduct
No interviewer bias

Questionnaire cannot be
changed
Complex
Can be completed by
person other than intended
Follow-up expensive
Response often slow in
coming

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

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Special Research Studies


Problem
Definition
Information
Required
Research
Method
Sampling
Plan
Questionnaire
Design
Data
Collection
Analysis and
Report

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Screening A New
Research Supplier
1. Client Would you recommend
this supplier?
2. Supplier Do you have
sufficient 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 supervise
interviewers?

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6. What percentage of interviews are


validated?
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?

Source: Seymour Sudman and Edward Blair,


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

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Impact of the Internet on


Marketing Costs and
Availability

Online Surveys

Fast
Inexpensive
Limitations in population coverage
Resistance to excessive Web communications

Customer feedback and peer-to-peer Web


communications
Monitoring customer Web behavior

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Illustrative Example:
Knowledge Sharing at
Buckman Labs

Buckman has more than 50 Internet


discussion groups focused on its main
products employees post 50-100
messages a day
The company has amassed an easily
searchable database of in-house expertise
and past lessons learned, all accessible to
employees and customers
The Web harnesses the brainpower of an
entire global speciality chemicals company
around customer problems
Knowledge sharing is the foundation for
superior learning about customers

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Marketing Decision-Support
System Components

Database

Display

Analysis
Capabilities

Models

Marketing Intelligence and


Knowledge Management

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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 customer
knowledge

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

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Ethical Issues in
Collecting
and Using Information

Invasion of customer privacy


e.g., use of medical databases to
sell healthcare products

Information and ethics


e.g., guidelines for sharing of
confidential information
e.g., collecting data from children