Marketing Plan-
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Chapter7PowerPoint-week7.pptx
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LO 7-3
LO 7-2
LEARNING OBJECTIVES (LO) AFTER READING CHAPTER 7, YOU SHOULD BE ABLE TO:
LO 7-1
Identify the reason for conducting marketing research.
Describe the five-step marketing research approach that leads to marketing actions.
Identify the two kinds of secondary data and give examples of each.
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LO 7-5
LEARNING OBJECTIVES (LO) AFTER READING CHAPTER 7, YOU SHOULD BE ABLE TO:
LO 7-4
LO 7-6
Describe the meanings of observational data and questionnaire data and give examples of each.
Explain how information technology and data mining lead to marketing actions.
Describe three approaches to developing a company’s sales forecast.
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REDUCING THE RISK OF A MOVIE’S FAILURE WITH TEST SCREENINGS AND TRACKING STUDIES
What’s in a Movie Name?
The Risks of Today’s (and Tomorrow’s) Blockbuster Movies
Conduct Test Screenings
Use Tracking Studies
Movie Trailer
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FIGURE 7-A Marketing research questions asked in test screenings of movies that lead to specific actions
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REDUCING THE RISK OF A MOVIE’S FAILURE WITH TEST SCREENINGS AND TRACKING STUDIES
Converting Marketing Research Results into Actions
Avatar
Movie Trailer
Reducing the Risk of a Movie’s Failure with Test Screenings and Tracking Studies
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THE ROLE OF MARKETING RESEARCH
LO 7-1
The Challenges in Doing Good Marketing Research
Five-Step Marketing Research Approach
What is Marketing Research?
Decision
Decision Making
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FIGURE 7-1 Five-step marketing research approach leading to marketing actions
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STEP 1: DEFINE THE PROBLEM
SET THE RESEARCH OBJECTIVES
LO 7-2
Be Specific, Measurable, and Achievable
Have a Clear Research Purpose
Must Lead to Marketing Actions
LEGO Video
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STEP 1: DEFINE THE PROBLEM
IDENTIFY POSSIBLE MARKETING ACTIONS
LO 7-2
Possible Marketing Actions
Measure of Success: Playtime
Children Spent More Time Playing with Old Design
Children Spent More Time Playing with New Design
Continue with Old Design; Don’t Introduce New Design
Introduce New Design; Drop Old Design
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STEP 2: DEVELOP THE RESEARCH PLAN
SPECIFY CONSTRAINTS
LO 7-2
Identify Data Needed for Marketing Actions
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STEP 2: DEVELOP THE RESEARCH PLAN
DETERMINE HOW TO COLLECT DATA
LO 7-2
Concepts
Methods
New-Product Concept
Sampling
Statistical Inference
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FIGURE 7-2 Types of marketing information
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STEP 3: COLLECT RELEVANT DATA
SECONDARY DATA
LO 7-3
Internal
Marketing Input Data
Marketing Outcome Data
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STEP 3: COLLECT RELEVANT DATA
SECONDARY DATA
LO 7-3
External
Census Bureau
U. S. 2010 Census
American Community Survey
U. S. 2012 Economic Census
Census 2010
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STEP 3: COLLECT RELEVANT DATA
SECONDARY DATA
LO 7-3
External
Syndicated Panel
Nielsen TV Ratings
J.D. Power Surveys
IRI InfoScan
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STEP 3: COLLECT RELEVANT DATA
SECONDARY DATA
LO 7-3
External
Universities
Trade Associations
Business Periodicals
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MARKETING MATTERS Online Databases & Internet Resources
LO 7-3
Statistical & Financial Data
Portals & Search Engines
Wall Street Journal
CNBC
Fox Business News
USA.gov
Census Bureau
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STEP 3: COLLECT RELEVANT DATA
SECONDARY DATA
LO 7-3
Advantages
Time Savings
Inexpensive
Out of Date
Definitions/Categories Not Right
Disadvantages
Not Specific Enough
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STEP 3: COLLECT RELEVANT DATA
PRIMARY DATA—WATCHING PEOPLE
LO 7-4
Nielsen’s People Meter
Mechanical Methods
Nielsen’s TV Ratings
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FIGURE 7-3 Nielsen Broadcast Ranking Report for network TV primetime households
Nielsen
Top 10
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STEP 3: COLLECT RELEVANT DATA
PRIMARY DATA—WATCHING PEOPLE
LO 7-4
Personal Methods
Mystery Shopper
Videotaping
Ethnographic Research
Neuromarketing Methods
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STEP 3: COLLECT RELEVANT DATA
PRIMARY DATA—ASKING PEOPLE
LO 7-4
Idea Generation Methods
Individual Interviews
Depth Interviews
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STEP 3: COLLECT RELEVANT DATA
PRIMARY DATA—ASKING PEOPLE
LO 7-4
Focus Groups
Idea Generation Methods
“Fuzzy Front End” Ex: Trend Hunting
Trend Hunter
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STEP 3: COLLECT RELEVANT DATA
PRIMARY DATA—ASKING PEOPLE
LO 7-4
Idea Evaluation Methods
Personal Interview Surveys
Mail/Fax Surveys
Telephone Surveys
Online (E-Mail/ Internet) Surveys
Mall Intercept Interview Surveys
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FIGURE 7-B Comparison of types of surveys
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STEP 3: COLLECT RELEVANT DATA
PRIMARY DATA—QUESTION FORMATS
LO 7-4
Open-Ended Questions
Closed-End or Fixed Alternative Questions
Dichotomous Questions
Semantic Differential Questions
Likert Scale Questions
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FIGURE 7-4A Different types of questions in a sample Wendy’s survey (Q1 – Q6)
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FIGURE 7-4A (Q1) Sample Wendy’s survey: Open-ended question
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FIGURE 7-4A (Q2) Sample Wendy’s survey: Dichotomous question
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FIGURE 7-4A (Q3) Sample Wendy’s survey: Multiple choice question
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FIGURE 7-4A (Q4) Sample Wendy’s survey: Attitudinal question
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FIGURE 7-4A (Q5) Sample Wendy’s survey: Semantic differential scale question
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FIGURE 7-4B (Q6) Sample Wendy’s survey: Likert scale question
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FIGURE 7-4B Different types of questions in a sample Wendy’s survey (Q7 – Q9)
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FIGURE 7-4B (Q7) Sample Wendy’s survey: Media behavior question
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FIGURE 7-4B (Q8) Sample Wendy’s survey: Usage behavior question
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FIGURE 7-4B (Q9) Sample Wendy’s survey: Demographic questions
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FIGURE 7-C Typical problems when wording questions
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STEP 3: COLLECT RELEVANT DATA
PRIMARY DATA—OTHER SOURCES
LO 7-4
Social Media
Carmex Lip Balm
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USING MARKETING DASHBOARDS
Are the Carmex Social Media Programs Working Well?
LO 7-4
Conversation Velocity, Share of Voice, and Sentiment
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STEP 3: COLLECT RELEVANT DATA
PRIMARY DATA—OTHER SOURCES
LO 7-4
Experiments
Independent Variable: The Cause (Drivers)
Dependent Variable: The Result
Test Markets
Panels
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STEP 3: COLLECT RELEVANT DATA
PRIMARY DATA—OTHER SOURCES
LO 7-4
Sensitivity Analysis
Data Warehouse
Data Mining
RFID Technology
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FIGURE 7-5 How marketing researchers and managers use information technology to turn information into action
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MAKING RESPONSIBLE DECISIONS The Downside of Data Mining
Reveals Personal Information
Ghostery
LO 7-4
Collected via Cookies and Apps
Enables Personalization and Targeting
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STEP 3: COLLECT RELEVANT DATA
+/– OF PRIMARY DATA
LO 7-4
Advantage
Expensive
Time Consuming to Collect
Disadvantages
More Specific to the Problem
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STEP 4: DEVELOP FINDINGS
LO 7-5
Present the Findings
Analyze the Data
How are Sales?
What Factors Contribute to Sales Trends?
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FIGURE 7-6 Marketing dashboards that present findings to Tony’s marketing manager that lead to recommendations and actions
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FIGURE 7-6A Findings presented to Tony’s marketing manager
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FIGURE 7-6B Findings presented to Tony’s marketing manager
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FIGURE 7-6C Findings presented to Tony’s marketing manager
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FIGURE 7-6D Findings presented to Tony’s marketing manager
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STEP 5: TAKE MARKETING ACTIONS
LO 7-5
Evaluate the Results
Make Action Recommendations
Implement the Action Recommendations
The Decision Process Used
The Decision Itself
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SALES FORECASTING TECHNIQUES
LO 7-6
Judgments of the Decision Maker
Surveys of Knowledgeable Groups
Direct Forecast
Lost-Horse Forecast
Salesforce Survey Forecast
Survey of Buyers’ Intentions Forecast
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SALES FORECASTING TECHNIQUES
LO 7-6
Statistical Methods
Trend Extrapolation
Linear Trend Extrapolation
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FIGURE 7-7 Linear trend extrapolation of sales revenues at Xerox, made at the start of 2000
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FIGURE 7-D Top-down forecast: Survey of Buying Power
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CARMEX [A]: LEVERAGING FACEBOOK FOR MARKETING RESEARCH
VIDEO CASE 7
Carmex Video Case
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VIDEO CASE 7
Carmex [A]
1. What are the advantages and disadvantages for the Carmex marketing team in collecting data to narrow the flavor choices from three to two using (a) an online survey of a cross-section of Internet households or (b) an online survey of Carmex Facebook likers?
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VIDEO CASE 7
Carmex [A]
2. (a) On a Facebook brand page, what are “engagement” and “likes” really measuring?
(b) For Carmex, which is more important and why?
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VIDEO CASE 7
Carmex [A]
3. (a) What evokes consumers “engagement” on a brand page on Facebook?
(b) What attracts consumers to “like” a brand page on Facebook?
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VIDEO CASE 7
Carmex [A]
4. (a) What are the advantages and disadvantages of using a fixed-alternative poll question on Facebook?
(b) When do you think it would be better to use an open-ended question?
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VIDEO CASE 7
Carmex [A]
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VIDEO CASE 7
Carmex [A]
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VIDEO CASE 7
Carmex [A]
5. (a) If you had a limited budget and two weeks to decide which two flavors to put into quantitative testing, would you choose a “poll only” or a “contest only” strategy? Why?
(b) If you had a sizeable budget and two months to make the same decision, which scenario would you choose? Why?
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FIGURE 3 Potential results from three possible Facebook strategies
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INTERPRETING CENSUS DATA
IN-CLASS ACTIVITY 7-1
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Census Promotional Video
ICA 7-1
2010 Census Form & The New Portrait of America
Example:
Interpreting U.S.
Census Bureau Data
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WEBSITES FOR MARKETERS
IN-CLASS ACTIVITY 7-2
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American Marketing Association
American Advertising Federation
YouTube
CNBC
Drudge Report
Amazon.com
Bloomberg Businessweek
The Wall Street Journal
USA.gov
Fox Business
ICA 7-2
Websites for Marketers
eBay
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DESIGNING A TASTE TEST SURVEY FOR HOWLIN’ COYOTE CHILI
IN-CLASS ACTIVITY 7-3
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PEPSI VS. COKE TASTE TEST
IN-CLASS ACTIVITY 7-4
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ICA 7-4
Pepsi vs. Coke Taste Test Challenge
Pepsi Taste Test Ad
Coke Taste Test Ad
Example:
Pepsi versus Coke
Taste Test Challenge
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© 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner.
This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
Marketing Research
Marketing research is the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions.
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© 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner.
This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
Measures of Success
Measures of success are criteria or standards used in evaluating proposed solutions to the problem.
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This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
Constraints
Constraints are, in a decision, the restrictions placed on potential solutions to a problem.
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This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
Data
Data are the facts and figures related to the project that are divided into two main parts: secondary data and primary data.
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This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
Secondary Data
Secondary data are the facts and figures that have already been recorded prior to the project at hand.
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This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
Primary Data
Primary data are the facts and figures that are newly collected for the project.
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This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
Observational Data
Observational data are the facts and figures obtained by watching, either mechanically or in person, how people actually behave.
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This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
Questionnaire Data
Questionnaire data are the facts and figures obtained by asking people about their attitudes, awareness, intentions, and behaviors.
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This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
Information Technology
Information technology involves operating computer networks that can store and process data.
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This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
Sales Forecast
A sales forecast consists of the total sales of a product that a firm expects to sell during a specified time period under specified environmental conditions and its own marketing efforts.
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© 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner.
This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
