1. Kotler Keller PhillipKevin Lane Marketing Management 14e

2. Conducting Marketing Research Chapter 4

3. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice HallSlide 3 of 22 Discussion Questions 1.What constitutes good marketing research? 2.What are the best metrics for measuring marketing productivity? 3.How can marketers access their return on investment of marketing expenditures?

4. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice HallSlide 4 of 22 Marketing Research System Insight Market Research

5. Defined The systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company. Marketing Research Defined

6. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice HallSlide 6 of 22 Creative Research Means Rivals Marketing partners Student projects Internet sources Check out rivals

7. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice HallSlide 7 of 22 Figure 4.1 Marketing Research Process

8. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice HallSlide 8 of 22 Step 1: Define the Problem Focused inquiry Marketers must not focus too broadly or too narrowly on the research question. Trying to find out everything about first-class travellers needs is too broad, while trying to determine if enough passengers will pay $25 on a direct flight between Chicago and Tokyo to break even is too narrow. In this example, the marketers agreed to define the problem as “Will offering an in-flight Internet service create enough incremental preference and profit for AA to justify its cost against other possible investments in service enhancement…”

9. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice HallSlide 9 of 22 Step 2: Develop the Research Plan Sampling plan Contact method Data Sources Secondary data Primary data Research Approaches Observation Focus groups Surveys Behavioral data Experiments Research instrument Questionnaires Qualitative measures Technological devices

10. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice HallSlide 10 of 22 Step 3: Collect the Information Online surveys Telephone surveys Interviews In-home surveys Most expensive step Most prone to errors

11. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice HallSlide 11 of 22 Step 4: Analyze the Information Develop summary measures Compute averages Statistical analysis / decision models

12. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice HallSlide 12 of 22 Step 5: Present the Findings Transform raw data into insight Present information in clear and compelling fashion

13. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice HallSlide 13 of 22 Step 6: Make the Decision ResearchDecisions Research should guide decisions, not be used to support decisions already made.

14. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice HallSlide 14 of 22 Characteristics of Good Marketing Research 1. Scientific method 2. Research creativity 3. Multiple methods 4. Interdependence of models and data 5. Value and cost of information 6. Healthy skepticism 7. Ethical marketing

15. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice HallSlide 15 of 22 Former marketing research executive for General Foods concluded that Star Wars would fail at the box office. The film grossed $4.3 billion in box office receipts. Market research must be used properly and must be designed for the specific questions, to a specific audience, using specific tools. Using traditional marketing research techniques, a successful marketing research executive left General Foods in hopes of bringing market research to Hollywood. A film studio gave him the task of determining if a potential science fiction movie would be a success or failure. He concluded it would be a failure. His reasoning, American were looking for realism and authenticity (due to Watergate). Furthermore, he stated that citizens were suffering from a post-Vietnam hangover and would not welcome any movie that had the word “war” in its title.

16. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice HallSlide 16 of 22 Measuring Marketing Productivity Marketing-mix modeling Marketing metrics A survey of CMO’s found that 80% were dissatisfied with their ability to benchmark their marketing programs business impact and value.

17. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice HallSlide 17 of 22 Marketing Metrics QuantifyInterpretCompare Marketing Performance

18. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice HallSlide 18 of 22 Marketing Metrics External Awareness Market share Relative price Number of complaints Consumer satisfaction Total number of customers Perceived quality/esteem Loyalty/retention Relative perceived quality Marketing metrics can being either external, such as those shown here, or internal. Internal metrics can include employees awareness of goals; resource adequacy or autonomy.

19. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice HallSlide 19 of 22 Marketing-Mix Modeling Awareness Expenditure

20. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice HallSlide 20 of 22 Marketing Dashboards

21. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice HallSlide 21 of 22 Figure 4.2 Marketing Measurement Pathway

22. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice HallSlide 22 of 22 Figure 4.3 Marketing Dashboard Example