Chapter 04 Managing Marketing Information to Gain Customer

Chapter 04 Managing Marketing Information to Gain Customer Insights

Topics to Cover • • Marketing Research Analyzing Marketing Information Distributing and Using Marketing Information Other Marketing Information Considerations

THE MARKETING RESEARCH PROCESS Define the problem Develop research plan Collect information Analyze information Present findings Make decision

Developing Marketing Information Marketing Research Instruments - Questionnaires • Most common • Administered in person, by phone, or online • Flexible • Research must be careful with wording and ordering of questions

Developing Marketing Information Marketing Research Instruments - Questionnaires • Closed-end questions include all possible answers, and subjects make choices among them – Provide answers that are easier to interpret and tabulate • Open-end questions allow respondents to answer in their own words – Useful in exploratory research

TYPES OF QUESTIONS IN THE QUESTIONNAIRES QUESTION TYPES – Dichotomous In arranging this trip, did you contact Jet Airways? Yes No QUESTION TYPES – Multiple Choice With whom are you traveling on this trip? No one Spouse and children Children only Business associates/friends/relatives An organized tour group

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

QUESTION TYPES – Semantic Differential Jet Airways Large ………………. . . ……………. Small Experienced…………………. Inexperienced Modern……………. Old-fashioned QUESTION TYPES – Importance Scale Airline food service is _____ to me. Extremely important Very important Somewhat important Not very important Not at all important

QUESTION TYPES– Rating Scale Jet Airways food service is _____. Excellent Very good Good Fair Poor

QUESTION TYPES – Intention to Buy Scale How likely are you to purchase tickets on Jet Airways if in-flight Internet access were available? Definitely buy Probably buy Not sure Probably not buy Definitely not buy QUESTION TYPES – Completely Unstructured What is your opinion of Jet Airways ?

QUESTION TYPES – Word Association What is the first word that comes to your mind when you hear the following? Airways____________ Travel ____________ QUESTION TYPES – Sentence Completion When I choose an airline, the most important consideration in my decision is: _____________________________________________________.

QUESTION TYPES – Story Completion “I flew Jet Airways 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. _____________________________________________________ ______________

QUESTION TYPES – Picture (Empty Balloons)

Developing Marketing Information Marketing Research Instruments Checkout scanners Neuro- People meters marketing Mechanical devices

Developing Marketing Information Marketing Research Implementing the Research Plan Collecting the information Processing the information Analyzing the information Interpret findings Draw conclusions Report to management

Analyzing and Using Marketing Information Customer Relationship Management (CRM) • CRM consists of sophisticated software and analytical tools that integrate customer information from all sources, analyze it in depth, and apply the results to build stronger customer relationships

Analyzing and Using Marketing Information Customer Relationship Management (CRM) Touchpoints Customer purchases Web site visits Sales force contacts Service and support calls Satisfaction surveys Credit and payment interactions Research studies

Distributing and Using Marketing Information distribution involves entering information into databases and making it available in a time-useable manner • Intranet provides information to employees and other stakeholders • Extranet provides information to key customers and suppliers

Other Marketing Information Considerations Marketing Research in Small Businesses and Nonprofit Organizations International Market Research Public Policy and Ethics • Customer privacy • Misuse of research findings

Characteristics of Good Marketing Research ü Scientific method ü ü ü Research creativity Multiple methods Interdependence Value and cost of information Healthy skepticism Ethical marketing