Muhammad Naeem Sarwar (BUS530)

Date: 21/04/2011

Marketing Management Module 2

Check Your Understanding: 1. A marketing intelligence system is a set of procedures and sources managers use to obtain _____.

marketing inte!!igence s"stem is a set o# $rocedures and sources managers use to o%tain &e'er"da" in#ormation a%out de'e!o$ments in the marketing en'ironment( )*ot!er + *e!!er, 200-, $. .-/. 2. A rend____ trend is a direction or se0uence o# e'ents that has some momentum and dura%i!it". 1rends are more $redicta%!e and dura%!e than #ads. trend re'ea!s the sha$e o# the #uture and $ro'ides man" o$$ortunities. Megatrends ha'e %een descri%ed as !arge socia!, economic, $o!itica!, and techno!ogica! changes 2that3 are s!ow to #orm, and once in $!ace, the" in#!uence us #or some time 4 %etween se'en and ten "ears, or !onger 5. ______ S!apes t!e beliefs" #alues and norms" t!at largely defines tastes and preferences. Societ", a%sor%, a!most unconscious!", a wor!d 'iew that de#ines their re!ationshi$s to themse!e'es, to others, to organi6ations, to societ", to nature and to the uni'erse. )*ot!er + *e!!er, 200-, $. 78/. 4. !e last step in marketing researc! process is___ 9resenting the data. :n the end researcher $resents #indings re!e'ant to the ma;or marketing decisions #acing management. <esearchers increasing!" are %eing asked to $!a" a more $roacti'e consu!ting ro!e in trans!ating data and in#ormation into insight and recommendation. 1he" are a!so consu!ting wa"s to $resent research #inding in as understanda%!e and com$e!!ing a #ashion as $ossi%!e. )*ot!er + *e!!er, 200-, $. -=/. 8. $esearc! t!at is designed to capture cause%and%effect relations!ips by eliminating competing e&planations of obser#ed finding is called ____ 1he most scienti#ica!!" 'a!id research is e>$erimenta! research the $ur$ose o# e>$erimenta! research is to ca$ture cause and e##ects o# re!ationshi$s. 1o the e>tent that the design and e>ecution o# the e>$eriment e!iminate a!ternati'e h"$otheses that might e>$!ain the resu!ts, research and marketing managers can ha'e con#idence in the conc!usions )*ot!er + *e!!er, 200-, $. -=/. .. ___ is a coordinated collection of data systems tools and tec!ni'ues (it! supporting soft(are and !ard(are b (!ic! an organi)ation gat!ers and interprets rele#ant information from business and en#ironment. 1he de#inition o# Marketing Decision Support System %" M:1?s @ohn Aitt!e, Marketing Decision Support System is a coordinated collection of data systems tools and tec!ni'ues (it! supporting soft(are and !ard(are b (!ic! an organi)ation gat!ers and interprets rele#ant information from business and en#ironment" by (!ic! an organi)ation gat!ers and interprets rele#ant information from business and en#ironment and turns it into a basis for marketing actions. )*ot!er + *e!!er, 200-, $. -=/.

Exercises:

*. +!at are t!e steps a company can take to impro#e t!e 'uality fo its marketing intelligence, Marketing managers co!!ect marketing inte!!igence %" reading %ooks, news$a$ers, and trade $u%!icationsB ta!king to customers, su$$!iers, and distri%utorsB monitoring CSocia! MediaC on the internet 'ia on!ine discussion grou$sB eDmai!ing !ists and %!ogs and meeting with other com$an" managers. Se'era! ste$s to im$ro'e the 0ua!it" o# marketing inte!!igence: 1. 1rain and moti'ate the sa!es #orce to s$ot and re$ort new de'e!o$ments 2. Moti'ate distri%utors, retai!ers, and other intermediates 5. E>terna! networking 4. Set u$ a com$an" ad'isor" $ane! 8. 1ake ad'antage o# go'ernment data resources .. 9urchase in#ormation #rom outside su$$!iers 7. Use on!ine customer #eed%ack s"stems to co!!ect com$etiti'e inte!!igence.
2. !e te&t describes ten megatrends t!at !elp s!ape t!e consumer landscape" name t!ese trends. 1. ging Foomers 2. De!a"ed <etirements 5. Changing nature o# work 4. Greater Educationa! attainment 8. Aa%or Shortages .. :ncreased immigration 7. <ising His$anic :n#!uence =. Shi#ting Firth 1rends -. Iidening geogra$hic di##erences 10. Changing ge Structure

5. online researc! inter#ie(ing is estimated to make up 33- of all sur#ey%based researc! in .00/. 0iscuss t!e pros and cons of using t!is met!od of data collection. 1he :nternet has emerged as a new and $o$u!ar too! to conduct %oth 0ua!itati'e and 0uantitati'e research. Jn!ine research can %e a 'a!ua%!e resource when conducting certain t"$es o# work that are either #or an on!ine $roduct or need the in$ut o# an on!ine audience. Some e>am$!es o# when on!ine research can %e a 'a!ua%!e too! inc!ude: Qualitative Web Site Usability Study where e>$erience with and use o# the :nternet is critica! to the !earningB a!so, inter'iews tend to %e oneDonDone so there is e##ecti'e interaction %etween the moderator and the $artici$ant. Kuantitati'e Ie% Site ssessment where a !arge sam$!e o# users o# a site are eD mai!ed a 0uestionnaire regarding use o# the site, attitudes toward the %rand, etc. 1he c!ient has an e>tensi'e data%ase o# customers? eDmai! addresses that are #air!" re$resentati'e o# the o'era!! customer %ase.

Launching a ne product or service that is targeted at wired customers. Lor e>am$!e, man" #inancia! com$anies ha'e su%stantia! segments o# customers whose $rimar" interaction with the institution is on!ine. New !aunches targeted s$eci#ica!!" to those on!ine users cou!d %e researched using on!ine methods. Howe'er, gi'en the constraints o# toda"?s techno!og", there are scenarios where on!ine research is !ess $ractica! and e##ecti'e than other techni0ues. !echnologically, %ecause on!ine $artici$ation is not "et done with a 'isua! re$resentation o# $artici$ants, a num%er o# #actors shou!d %e weighed when considering on!ine research, $articu!ar!" #or 0ua!itati'e work. Kua!itati'e :ssues o# Jn!ine <esearch Aower $artici$ation 4 :t is more di##icu!t to ha'e #u!! #ocus grou$ $artici$ation when e>ecuting a stud" on!ine %ecause t"$ing and writing ski!!s wi!! 'ar" among res$ondents. 1here#ore, those with stronger ski!!s wi!! %e a%!e to res$ond more 0uick!" or c!ear!" than those with $oorer ski!!s. :n $erson, it is much easier #or a moderator to contro! dominant res$ondents and o%tain #u!! $artici$ation. :n addition, moderators ha'e greater di##icu!t" ca!!ing u$on s$eci#ic res$ondents to answer without 'isua! cues #rom res$ondents, which are easi!" identi#ied in an inD$erson grou$. Moderators cannot determine whether a res$ondent has something to share, %ut is hesitant, or is sim$!" waiting #or another res$ondent to #inish a thought. 1here#ore, there is the risk that the discussion ma" mo'e #orward with more outs$oken and %etter t"$ists dominating the discussion without a!! res$ondents #u!!" sharing their thoughts. Aower 0ua!it" discussion res$onses 4 1here is e'idence that res$onses to 0uestions in on!ine research are %rie#er, $er#unctor" and !acking rich, insight#u! detai!s that are de!i'ered when research is conducted inD $erson. :n an e'a!uation o# an on!ine #ocus grou$ 'ersus an inD$erson grou$ on the same su%;ect matter, tota! word counts were e>amined with the #o!!owing resu!t: Jn!ine #ocus grou$ MD 88. words used :nD$erson #ocus grou$ MD 1485 words used <es$ondent emotions are !ost 4 F" interacting with res$ondents on!ine, one !oses some o# the more 'a!ua%!e %ene#its o# inD$erson research such as: 'oice in#!ection, !aughter and %od" !anguage )e.g., $osture, hand gestures, e"e contact and #acia! e>$ressions/, a!! o# which are used to inter$ret the de$th o# $eo$!e?s emotions. 1hese e!ements great!" enrich the discussion and he!$ c!ari#" the o$inions shared. No grou$ d"namic 4 Iith on!ine research it is 'irtua!!" im$ossi%!e to attain the #u!! %ene#its o# grou$ d"namics. Jne o# the ma;or %ene#its to conducting research inD$erson is that it a!!ows not on!" the moderator to ha'e a greater interaction with res$ondents, %ut in the case o# #ocus grou$s, res$ondents are a%!e to react more easi!" to one another, thus stimu!ating a dee$er discussion that wi!! ine'ita%!" rea$ more insight#u! #eed%ack.

"ase study de'e!o$ed %" Dr. @ohn <. Frooks, @r., Houston Fa$tist Uni'ersit". 1uestions2

1. +!at marketing researc! facts led Allstate to re#ie( its ad#ertising and marketing strategies

(it! respect to t!e motorcycle market, 1he motorc"c!e market was growing, Due to increased interests #rom %oomers with 1.2 mi!!ion so!d in 200., according to the Motorc"c!e :ndustr" Counci!, u$ 40N o'er the $ast #i'e "ears. During the market research at Leo #urnett, Com$an" #ound more than .00 o# the insurer?s 14=00 inde$endent agents were %ikersB this interesting #act !ed the com$an" to com$!ete!" re'am$ some o# its ad'ertising and marketing strategies. 1he com$etition se!!s on $rice, he sa"s, and &has customers ;ust dia! directD we ha'e rea! $eo$!e( )$rogressi'e was a market $!a"er in motorc"c!e insurance/. Furnett $ut out a casting ca!! to !!state agents, asking those c!ose enough to Chicago, New York and !os nge!es to ride their %ikes to $hoto shoots in those cities. 9hotos o# 18 agents were chosen 4 some #or the ads, some #or mai!ings. 1o %o!ster its new cam$aign, !!state headed to si> motorc"c!e ra!!ies in 200., o##ering worksho$s on how to kee$ %ikes running sa#e!" and smooth!". 1he com$an" a!so teamed u$ with ro!!ing stone to se!! down!oads o# what the maga6ine deems the to$ 10 motorc"c!e songs o# a!! time.

Works Cited
*ot!er, 9., + *e!!er, *. A. )200-/. 3arketing 3anagement. *3e. U$$er Sadde! <i'er, New @erse": 9earson 9rentice Ha!!.