Marketing Intelligence

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Marketing Intelligence

• Marketing Management

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Agenda

• Step 1 Defining the Problem
• Step 2 Develop the Plan
• Step 3 Collect Data
• Step 4 Develop Findings
• Step 5 Take Marketing Actions

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Step 1 Problem Definition

• Dont confuse the symptoms of the problem with
  its cause when defining the problem.
• Set research objectives
• What segment to target?
• How to design a new product?
• What price to charge? etc.

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Step 2 Develop the Research Plan

• Specify constraints (budget, time,)
• Identify data needed
• Formulate research hypotheses
• Determine how to collect data

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Step 3 Collecting Data

• Secondary data sources
• Internal
• External
• Advantages
• Speed
• Low cost
• Disadvantages
• Outdated
• Relevance
• Accuracy

Types of Data

• Secondary data
• Primary data

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Step 3 Collecting Data

• Planning primary research
• Research approaches
• Observation
• Survey
• Experiment
• Contact methods
• Sampling plan
• Research instruments

Types of Data

• Secondary data
• Primary data

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Observational Data

• Observation research using people or machines
• Mystery shoppers, peoples meters, web site
  cookies are some examples.
• Discovers behavior but not motivations.

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Observational Research - Example

• Welcome to Neopets!
• Virtual pet site with 22 million members 27000
  joining per day
• We live breath market research

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Observational Data

• Detailed reports about behavior preferences of
  members
• Data revealed about user base (or chunks) as a
  whole, not individuals (privacy!)

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Step 3 Collecting Data

• Planning primary research
• Research Approaches
• Contact methods
• Mail
• Telephone
• Online
• Personal
• Sampling plan
• Research instruments

Types of Data

• Secondary data
• Primary data

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Contact Methods

• Mail surveys
• Online surveys
• Telephone (fax) surveys
• Personal interviewing
• Focus groups

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Focus Groups

• Informal sessions of 6-10 with a discussion
  leader
• Topics include
• Opinions about products
• How products used
• Unaddressed needs
• Online focus groups (chatrooms)

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Online Focus Groups

• Benefits
• Costs (1/3 of traditional)
• No geographic constraints
• Reaching hard-to-reach
• Speed (one day vs. weeks)
• Honesty

• Downsides
• No voice, eye contact body cues
• Access to internet
• Group dynamics

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Marketing Info. System
Strengths and Weaknesses of Contact Methods
Relate To

• Flexibility
• Data quantity
• Cost

• Interviewer effects
• Speed of data collection
• Response rate

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Marketing Info. System

• Planning primary research
• Research approaches
• Contact methods
• Sampling plan
• Sampling unit
• Sample size
• Sampling procedure
• Research instruments

Types of Data

• Secondary data
• Primary data

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Marketing Info. System

• Sample subgroup of population from whom
  information will be collected
• Sampling Plan Decisions
• Sampling unit (who to survey?)
• Sample size (how many?)
• Sampling procedure (how to sample?)
• Probability samples
• Non-probability samples

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Non-probability Sampling

• Probability of being part of sample unknown
• Example
• Convenience sample

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Probability Sampling

• Each population member has known probability of
  being in the sample
• Examples
• Random sample
• Nth sampling

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Step 3 Collecting Data

• Planning primary research
• Research approaches
• Contact methods
• Sampling plan
• Research instruments
• Questionnaire
• Mechanical instruments

Types of Data

• Secondary data
• Primary data

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Collecting Data

• Research Instruments
• Questionnaires
• Include different types of questions
• Open-ended question What are the most
  important benefits you seek when buying a car?
• Closed-ended question What is your gender?
  ____ Male ____ Female
• Phrasing and question order are key

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Sample questions from Wendys survey
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Sample questions from Wendys survey
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Mechanical Instruments

• Research Instruments
• Mechanical instruments
• Traffic counters
• Retailer store checkout scanners
• Video-taped store traffic
• People meters
• Website logs, cookies, software
• Physiological measurement equipment

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Step 4 Develop Findings

• Analyze the data
• Interpret report findings
• Present findings

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Distributing Findings

• Distributing and Using Marketing Information
• Routine reporting makes information available in
  a timely manner.
• User friendly databases allow for special
  queries.
• Intranets and extranets help distribute
  information to company employees and
  value-network members.

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Step 5 Take Marketing Actions

• Identify recommendations
• Implement action plan
• Monitor evaluate results of decisions