Copyright © 2007 Pearson Education Canada5-1 WELCOME PMBA 502 TODAY TODAY (Oct. 27, 2008) : Chp. 5 Discussion Questions: P. 157, Q2 P. 196, 3a and 3b NOTE.

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Presentation transcript:

Copyright © 2007 Pearson Education Canada5-1 WELCOME PMBA 502 TODAY TODAY (Oct. 27, 2008) : Chp. 5 Discussion Questions: P. 157, Q2 P. 196, 3a and 3b NOTE : Please hand in the written answer of your choice for feedback from the professor before you leave class today.

Copyright © 2007 Pearson Education Canada5-2 Chapter Five Managing Marketing Information With Duane Weaver

Copyright © 2007 Pearson Education Canada5-3 Outline Information – More or Better Assessing Info Needs Data Gathering Techniques Market Research Process Types of Data Sampling Primary Research Instruments Research Issues

Copyright © 2007 Pearson Education Canada5-4 Information – More or Better? Companies need information about their: –Customer needs. –Marketing environment. –Competition. Marketing managers do not need more information, they need better information.

Copyright © 2007 Pearson Education Canada5-5 Assessing Information Needs A good MIS (Management Information System) balances the information - users would like - against what they really need - and what is feasible to offer.

Copyright © 2007 Pearson Education Canada5-6 Data Gathering Techniques Internal data. –Internal information that the various departments already have. Marketing intelligence. –Information that can be gathered from public or legally available sources. Marketing research. –Specific information gathered to answer a specific question.

Copyright © 2007 Pearson Education Canada5-7 Market Research Process 1.Define the problem. 2.Set the research objectives. 3.Develop a research plan. 4.Implement the marketing research plan. 5.Analyze and interpret the data. 6.Report the findings.

Copyright © 2007 Pearson Education Canada5-8 Types of Marketing Research Exploratory research. –To gather preliminary information. –Primary or secondary data. Descriptive research. –To describe marketing situations or markets. –Surveys, observational studies. Causal research. –To experiment with cause-and-effect relationships.

Copyright © 2007 Pearson Education Canada5-9 Types of Data Secondary. –Data or information that has been gathered and published by other parties. –Publications, websites, directories. Primary. –Data or information that is gathered directly from the subjects of the research. –Interviews, focus groups, observation, surveys, experiments.

Copyright © 2007 Pearson Education Canada5-10 Sampling Sample. –A segment of the population selected to represent the population as a whole. Sample unit. –Who is to be surveyed? Sample size. –How many people should be surveyed? Sampling procedure. –How should those surveyed be chosen?

Copyright © 2007 Pearson Education Canada5-11 Primary Research Instruments Mechanical: –People meters. –Supermarket scanners. –Galvanometer. –Eye cameras. –Computers. Questionnaires: –What questions to ask. –Form of each question. Closed-ended. Open-ended. –Wording. –Ordering.

Copyright © 2007 Pearson Education Canada5-12 Research Issues Small businesses and non-profit organizations lack research resources. International marketing information can be difficult and costly to obtain. Competitive information often difficult to obtain ethically. Public policy issues. –Intrusions on consumer privacy. –Misuse of research findings.

Copyright © 2007 Pearson Education Canada5-13 Thank You!