MARKETING MANAGEMENT, Summaries of Marketing Management

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Marketing Information System

A Marketing Information System is

the structure of people, equipment,

and procedures used to gather,

analyze, and distribute information

needed by an organization.

Crteriia for a Well-Designed

Marketing Information System

Structured organization with people and

procedures

Generate a continuous flow of information

Information should be gathered from inside

and outside the organization

Information should be compiled and used as

a basis for marketing decisions

Figure 6.2. Information Sources Information Sources Secondary Primary Internal External Guest histories and sales data Employees and management staff Customer feedback Trade associations Travel bureaus Trade journals and other periodicals University sources Government sources Syndicated sources Guides, indexes, and directories Marketing research Descriptive Exploratory Causal

Requirements for a Successful

Marketing Information System

It should be objective

It should be systematic

It should be useful

Types of secondary data

INTERNAL DATA

 (^) Guest histories and sales data  (^) Employees and management staff  (^) Customer feedback

EXTERNAL DATA

 (^) Trade associations  (^) Travel bureaus  (^) Trade journals and periodicals  (^) Other Periodicals  (^) Internet  (^) University sources  (^) Government sources  (^) Syndicated services  (^) Guides, indexes, and directories

Guidelines for collecting external

information

State known facts

List specific goals and objectives

Collect all relevant data

Summarize the data and analyze the

situation

Figure 6.3. The Marketing Research Process Define the problem Plan the research Collect the data Analyze the data Prepare the final report

Research Design

Exploratory research – to gain an

understanding of the nature of the problem

Descriptive research – answer basic who, what,

where, why, when, and how questions

Causal research – focuses on cause-and-effect

relationships

Table 6. Comparison of Survey Data Collection Methods Characteristics Direct Mail Surveys Telephone Surveys Personal Interviews Cost per respondent Low Medium High Speed of response Low High Medium Response rate Low Medium High Interviewer bias Low Medium High Allows feedback Low Medium High Ability to handle sensitive topics High Medium Low Ability to handle complex questions (^) Medium Low High

Organizing Questionnaires

I. Easy, screening questions

II. More detailed questions regarding

product usage and behavior

III. Complicated questions involving ratings

and rankings

IV. Background information (demographics)

Types of Samples

Probability

• (^) Simple random sample
• (^) Systematic sample
• (^) Stratified sample

Nonprobablity

• (^) Convenience sample
• (^) Judgment sample
• (^) Quota sample

Determining Sample Size

Acceptable level of sampling error

Amount of variability in the population

Desired level of confidence

Data Analysis

Descriptive Analysis

• (^) Profile of respondents or sampling units
• (^) Average or typical respondent

Inferential Analysis

• (^) Test hypotheses and estimate parameters using sample statistics
• Make inferences from sample to population

Research Ethics

Rights and obligations of the respondent

• (^) Be truthful with responses
• (^) Right to privacy; confidentiality
• (^) Right to know true nature of the research

Rights and obligations of the researcher

• (^) To provide privacy and confidentiality to respondents and clients
• (^) To remain impartial and objective
• (^) To be honest and accurate with results

Rights and obligations of the client

• (^) To be honest about nature of the research
• (^) To be honest in dealings with suppliers (proposals)
• (^) To be committed to research © 2010 John Wiley & Sons, Inc.