Marketing Research For Managerial Decision Making

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Marketing Research For Managerial Decision Making
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Learning Objectives

• Describe and explain the impact marketing
  research has on marketing decisions
• Demonstrate how marketing research fits into the
  marketing planning process
• 3. Examine stages of strategic planning

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Value of Marketing Research

• Definition of Marketing Research
• American Marketing Association
• Marketing Researchsystematic process
• Designing methods for collecting info.
• Managing the information collection process
• Analyzing and interpreting results
• Communicating findings to decision markers

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Relationship Marketing Marketing Research
Process

• Relationship Marketing
• Three component for Success in Relationship
  Marketing
• Knowledge of the market
• Effective training programs
• Employee empowerment and teamwork

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Relationship Marketing Marketing Research
Process

• Purpose of Marketing- customer satisfaction
  achieved by
• Right Fit
• To the right people
• At the right place and time
• With the right price
• Through the use of the right blend of promotional
  techniques

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Customer Relationship Marketing

• CRM, a process for implementing a
• Relationship marketing strategy, is
• based upon the following four
• fundamental concepts
• Customer/market knowledge
• Data Integration
• Information Technology
• Creating Customer Profiles

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Marketing Planning

• Market-planning Framework
• Broad Decision
• Which new markets to penetrate
• Which products to introduce
• Which new business opportunities to pursue

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Marketing Planning

• Narrow Based Decisions
• Advertising effectiveness
• Product positioning
• Sales tracking
• Monitoring performance
• Anticipating and initiating changes in marketing
  practices

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Marketing Planning Process

1. Marketing Situation Analysis
2. Marketing Program Design
3. Marketing Program Development
4. Program Implementation and Control

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1. Marketing Situation Analysis

• Situation Analysis
• Locate and identify new market opportunities
• Identify groups of customers
• Identify existing and potential competitors
• a. Market Analysis
• Content Analysis
• In-Depth Interviews
• Formal Rating Procedures

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1. Marketing Situation Analysis

• b. Market Segmentation- benefits and
• lifestyles of the consumer
• c. Competitive Analysis
• - comparison to competitors
• - key attributes that drive purchase
• behavior
• - looking for strengths and weaknesses

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2. Marketing Strategy Design

• a. Target Marketing Analysis
• New-product opportunities
• Demographics, attitudinal or behavioral
  characteristics
• User profiles, usage patterns, and attitude
• Effectiveness of a firms current marketing
  program

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2. Marketing Strategy Design

• Positioning against competitors
• - where customers see you
• c. New-Product Planning
• Concept and product testing and test marketing
• Product testing
• Product tests

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3. Marketing Program Development

• a. Product Portfolio Analysis
• Customer satisfaction studies - looks at how
  customers perceive the marketing mix
• Service quality studies
• Mystery shopper, store appearance, store
  personnel
• Quality measures the satisfaction level of
  customers so that marketing mix can be adjusted
  

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3. Marketing Program Development

• Distribution Decisions time, availability and
  relationship between distributors and retailers
• -research includes
• 1. cycle time research
• 2. retailing research
• 3. logistic assessment

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3. Marketing Program Development

• Pricing Decision demand, price elasticity,
  nonprice issues, and price levels
• a. Demand Analysis
• b. Sales forecasting
• Qualitative
• Quantitative.

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3. Marketing Program Development

• Integrated Marketing Communication
• a. Promotional Decisions
• b. Advertising Effectiveness Qualitative or
  quantitative
• Attitudinal Research- cognitive approach, affect
  approach, behavioral approach
• Personal Selling- Measurable objectives or
  Non-measurable objectives
• e. Sales Tracking

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4. Marketing Program Implementation and Control

• Marketing Program Control what are the
  strategic goals
• Product Analysis
• Environmental Forecasting
• Technology