In this chapter, the following content will be discussed: Marketing information and customer insights, assessing marketing information needs, developing marketing information, marketing research, analyzing and using marketing information, other marketing information considerations.
LECTURE6 Managing Marketing Information to Gain Customer Insights Part-1 Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 11- 11 Topic Outline Đ Marketing Information and Customer Insights § Assessing Marketing Information Needs § Developing Marketing Information § Marketing Research Đ Analyzing and Using Marketing Information Copyright â 2012 Pearson Education, Inc Publishing as Prentice Hall 1- Marketing Information and Customer Insights Đ Đ Đ Customer Insights are: Fresh and deep insights into customers needs and wants Difficult to obtain § Not obvious § Customer’s unsure of their behavior Better information and more effective use of existing information Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- Marketing Information and Customer Insights Customer Insights Đ Companies are forming customer insights teams Đ Include all company functional areas § Collect information from a wide variety of sources Use insights to create more value for their customers Copyright â 2012 Pearson Education, Inc Đ Publishing as Prentice Hall 1- Marketing Information and Customer Insights • Marketing Information Systems (MIS) Marketing information system (MIS) consists of people and procedures for: § Assessing the information needs § Developing needed information § Helping decision makers use the information for customer Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- Marketing Information System Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- Assessing Marketing Information Needs • MIS provides information to the company’s marketing and other managers and external partners such as suppliers, resellers, and marketing service agencies Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- Assessing Marketing Information Needs Đ Characteristics of a Good MIS Balancing what the information users would like to have against what they need and what is feasible to offer Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- Developing Marketing Information • Marketers obtain information from Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- Developing Marketing Information Đ Internal Data Internal databases are electronic collections of consumer and market information obtained from data sources within the company network Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- 10 Questionnaire Do’s and Don’ts § § § § § Ensure questions are free of bias Make questions simple Make questions specific § § § § Avoid jargon Avoid sophisticated words Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall § Avoid negatives Avoid hypothetical's Avoid words that could be misheard Use response bands Use mutually exclusive 1- 26 Question Types (Closed End)Dichotomous In arranging this trip, did you contact American Airlines? Yes No Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- 27 Question Types – Multiple Choice With whom are you traveling on this trip? No one Spouse Spouse and children Children only Business associates/friends/relatives An organized tour group Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- 28 Question Types – Likert Scale Indicate your level of agreement with the following statement: Small airlines generally give better service than large ones Strongly disagree Disagree Neither agree nor disagree Agree Strongly agree Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- 29 Question Types – Semantic Differential American Airlines Large ……………………………… …….Small Experienced………………….….Inexperienced Modern……………………….… Old-fashioned Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- 30 Question Types – Importance Scale Airline food service is _ to me Extremely important Very important Somewhat important Not very important Not at all important Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- 31 Question Types – Rating Scale American Airlines’ food service is _ Excellent Very good Good Fair Poor Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- 32 Question Types –Intention to Buy Scale How likely are you to purchase tickets on American Airlines if in-flight Internet access were available? Definitely buy Probably buy Not sure Probably not buy Definitely not buy Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- 33 Question Types (Open End)Completely Unstructured What is your opinion of American Airlines? Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- 34 Question Types –Word Association What is the first word that comes to your mind when you hear the following? Airline American _ Travel Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- 35 Question Types – Sentence Completion When I choose an airline, the most important consideration in my decision is: _ _ _ _ _ _ Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- 36 Question Types –Story Completion “I flew American a few days ago I noticed that the exterior and interior of the plane had very bright colors This aroused in me the following thoughts and feelings.” Now complete the story _ _ _ _ _ _ Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- 37 Question Types–Picture (Empty Balloons) Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- 38 Bibliography § § § § Principles of Marketing by Philip Kotler & Gary Armstrong Fifteenth Edition, Published by Prentice Hall Marketing Management – A South Asian Perspective by Philip Kotler, Kevin Lane Keller, Abraham Koshy & Mithileshwar Jha, 13th Edition, Published by Pearson Education, Inc Principles and Practices of Marketing by Jobber, D 4th edition, McGraw Hill International Principles of Advertising & IMC by Tom Duncan 2nd Edition, Published by McGraw-Hill Irwin Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- 39 The End The fragrance of flowers spreads only in the direction of the wind But the goodness of a person spreads in all directions! - Author Unknown Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- 40 ... Hall 1- Marketing Information and Customer Insights Đ Đ Đ Customer Insights are: Fresh and deep insights into customers needs and wants Difficult to obtain § Not obvious § Customer s unsure of. ..• Topic Outline § Marketing Information and Customer Insights § Assessing Marketing Information Needs § Developing Marketing Information § Marketing Research Đ Analyzing and Using Marketing Information. .. Better information and more effective use of existing information Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- Marketing Information and Customer Insights Customer Insights