Gbus 207. 4

GBUS 207
PRINCIPLES OF MARKETING
1
GBUS207 Principles of Marketing (First Semester, 2014/15 Academic
Otto Afiuc GIMPA Business School
Lecture 4:
Managing Marketing Information
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The Importance of Marketing Information

Companies need information about their:
Customers needs
Marketing environment
Competition
Marketing managers do not need more information, they

need better information.
3
Marketing Information System

An MIS consists of people, equipment, and procedures to
gather, sort, analyze, evaluate, and distribute needed, timely,
and accurate information to marketing decision makers.
The MIS helps managers to:

Assess information needs
Develop needed information
Distribute information
4
Assessing Information Needs

A good MIS balances the information users would like against
what they really need and what is feasible to offer.
Sometimes the company cannot provide the needed

information because it is not available or due to MIS
limitations.
Have to decide whether the benefits of more information are

worth the costs.
5
Developing Marketing Information

Internal Databases: Electronic collections of information
obtained from data sources within the company.
Competitive Marketing Intelligence: Systematic collection and

analysis of publicly available information about consumers,
competitors and developments in the marketplace.
Marketing Research: Systematic design, collection, analysis,

and reporting of data relevant to a specific marketing
situation facing an organization.
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The Marketing Research Process

Defining the problem and research objectives
Developing the research plan
Implementing the research plan
Interpreting and reporting the findings
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Defining Problem & Objectives

Exploratory Research:
Gathers preliminary information that will help define the
problem and suggest hypotheses.
Descriptive Research:
Describes things (e.g., market potential for a product,
demographics and attitudes).
Causal Research:
Tests hypotheses about cause-and-effect relationships.
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Developing the Research Plan

Includes:
Determining the exact information needed.
Developing a plan for gathering it efficiently.
Presenting the written plan to management.
Outlines:
Sources of existing data
Specific research approaches
Contact methods
Sampling plans
Instruments for data collection

9
Gathering Secondary Data

Information that already exists somewhere:
Internal databases
Commercial data services
Government sources
Available more quickly and at a lower cost than primary data.
Must be relevant (fits the research projects needs), accurate

(reliably collected and reported), current (up-to-date enough
for current decisions), and impartial (objectively collected and
reported).
10
Primary Data Collection

Consists of information collected for the specific purpose at
hand.
Must be relevant, accurate, current, and unbiased.
Must determine:
Research approach
Contact methods
Sampling plan
Research instruments
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Observational Research
The gathering of primary data by observing relevant people,
actions, and situations.
Ethnographic research:
Observation in natural environment
Mechanical observation:
People meters
Checkout scanners
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Survey Research
Most widely used method for primary data
collection.
Approach best suited for gathering descriptive
information.
Can gather information about peoples

knowledge, attitudes, preferences, or buying
behavior.
13
Experimental Research
Tries to explain cause-and-effect relationships.
Involves:
selecting matched groups of subjects
giving different treatments
controlling unrelated factors
checking differences in group responses

14
Contact Methods
Mail surveys
Telephone surveys
Personal interviews
Individual interviewing
Focus group interviewing
Online marketing research

Surveys
Experiments
Focus groups
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Sampling Plan
Sample: segment of the population selected to represent the
population as a whole.
Sampling requires three decisions:

Who is to be surveyed?
o Sampling unit
How many people should be surveyed?

o Sample size
How should the people in the sample be chosen?

o Sampling procedure
Probability vs. nonproability samples

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Questionnaires:
What questions to ask?
Form of each question?
Closed-ended questions
Open-ended questions
Wording?
Ordering?
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Mechanical Devices:
People meters
Supermarket scanners
Galvanometer
Eye cameras
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Implementing the Research Plan

Collecting the data
Most expensive phase
Subject to error
Processing the data

Check for accuracy
Code for analysis
Analyzing the data

Tabulate results
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Interpreting and Reporting Findings

Interpret the findings
Draw conclusions
Report to management
Present findings and conclusions that will
be most helpful to decision making.
20
Customer Relationship Management (CRM)

Many companies utilize CRM.
Capture customer information from all sources.
Analyze it in depth.
Apply the results to build stronger relationships.
Companies look for customer touch points.
CRM analysts develop data warehouses and use data mining

techniques to find information out about customers.
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Customer Relationship Management (CRM)

Benefits of CRM:
Offer better customer service and develop deeper
customer relationships.
Pinpoint and target high-value customers more
effectively.
Better able to cross-sell products and develop offers
tailored to customers.
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Distributing and Using Marketing Information

Routine information for decision making
Nonroutine information for special situations
Intranets
Extranets
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Other Marketing Research Considerations

Marketing research in small businesses and nonprofit
organizations
International marketing research
Public policy and ethics in marketing research

Consumer privacy
Misuse of research findings
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The End
THANK YOU
25

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GBUS 207

Managing Marketing Information

The Importance of Marketing Information

Marketing managers do not need more information, they

Marketing Information System

The MIS helps managers to:

Develop needed information

Assessing Information Needs

Sometimes the company cannot provide the needed

Have to decide whether the benefits of more information are

Developing Marketing Information

Competitive Marketing Intelligence: Systematic collection and

Marketing Research: Systematic design, collection, analysis,

The Marketing Research Process

Developing the research plan

Implementing the research plan

Interpreting and reporting the findings

Defining Problem & Objectives

Developing the Research Plan

Developing a plan for gathering it efficiently.

Presenting the written plan to management.

Specific research approaches

Instruments for data collection

Gathering Secondary Data

Commercial data services

Available more quickly and at a lower cost than primary data.

Must be relevant (fits the research projects needs), accurate

Primary Data Collection

Must be relevant, accurate, current, and unbiased.

Can gather information about peoples

giving different treatments

controlling unrelated factors

checking differences in group responses

Focus group interviewing

Online marketing research

Sampling requires three decisions:

How many people should be surveyed?

How should the people in the sample be chosen?

Probability vs. nonproability samples

Primary Data Collection

Form of each question?

Primary Data Collection

Implementing the Research Plan

Processing the data

Code for analysis

Analyzing the data

Interpreting and Reporting Findings

Customer Relationship Management (CRM)

Apply the results to build stronger relationships.

Companies look for customer touch points.

CRM analysts develop data warehouses and use data mining

Customer Relationship Management (CRM)

Distributing and Using Marketing Information

Nonroutine information for special situations

Other Marketing Research Considerations

International marketing research

Public policy and ethics in marketing research

Misuse of research findings

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