1 Marketing Research Aaker, Kumar, Day Ninth Edition Instructor’s Presentation Slides

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Marketing Research

Aaker, Kumar, Day

Ninth Edition

Instructor’s Presentation Slides

http://www.drvkumar.com/mr9/

Marketing Research 9th Edition Aaker, Kumar, Day http://www.drvkumar.com/mr9/

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Chapter One

A Decision Making Perspective on

Marketing Intelligence


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Market Research


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Business Intelligence

BI is the ability to access data from multiple sources within an organization and deliver it to business users for analysis

It links the disparate operational systems to the end users of the data, thus creating an environment with free flow of information

It offers a reliable barometer of the business performance It helps to analyze what is behind trends and anomalies in the

business


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Provide data on


Financial Intelligence

Marketing Intelligence

Accounting Intelligence

Marketing Research

Management Intelligence

....................

Prospects Customers Competition Products/Markets

Primary Sources Secondary Sources Standardized Sources

Customer Relationship Marketing/ Database Marketing


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What is Marketing Intelligence?

Market intelligence (MI) is, “the process of acquiring and

analyzing information in order to understand the market (both

existing and potential customers); to determine the current and

future needs and preferences, attitudes and behavior of the

market; and to assess changes in the business environment that

may affect the size and nature of the market in future.”

- Cornish S. L


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Need for Marketing Intelligence

Producers have little direct contact with consumers (geographical

distance and channel layers).

Channel has little knowledge about customer attitudes, preferences

and changing tastes.

Need to understand competition, without spying on them.

Management goals involve sales targets and market share

achievement.

Need to identify successful new product developments early in the

process to ensure growth and revenue maximization by finding a

balance between costs and prices of products.


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Domains of Marketing Intelligence

Pro

du

ct D

ecis

ion

s

Cu

sto

mer

Seg

men

tati

on

dec

isio

ns

Brand and P

ricing

decisions

Keeping stakeholders

happy

Mar

ket e

stim

atio

n,

com

petit

ive

benc

h-

Mar

king

& d

istr

ibut

ion


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Marketing Research

Marketing Research, a critical part of Marketing Intelligence helps

by providing accurate, relevant and timely (ART) information

Links consumer, customer, and public to the marketer

through information used to:

• Identify and define marketing opportunity and

problems

• Generate, redefine and evaluate marketing actions

• Monitor marketing performance

• Improve understanding of marketing as a process (from AMA’s official definition of Marketing Research)


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Role of Marketing Research in Managerial Decision Making

Four Stages of Market Planning Process

Situation analysis

Strategy development

Marketing program development

Implementation


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•Performance monitoring•Refining strategies and program

•Define the business scope and served

market segments

•Establish competitive advantages

•Set performance objectives

Situation Analysis

StrategyDevelopment

MarketingProgram

Development

Implementation

•Understand the environment and the market•Identify threats and opportunities•Assess the competitive position

•Product and channel decision•Communication decisions•Pricing•Personal selling decisions

Marketing Planning Process


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Situation Analysis

Analysis of

Market environment

Market characteristics

Consumer behavior

Research Approaches

Organize information obtained from prior studies

(secondary)

Focus groups


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Strategy Development

Market Research Provides Information to Assist Management With Three Critical Decisions:

What business should we be in?

How will we compete?

What are the objectives for the business?


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Marketing Program Development

Programs embrace specific tasks

Action program usually focuses on a single objective in

support of one element of overall business strategy


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Marketing Program Development (cont.)

Representative Decisions that Draw on Marketing Research:

Segmentation decisions

Product decisions

Distribution decisions

Advertising and promotion decisions

Personal selling decisions

Price decisions

Branding decisions

Customer satisfaction decisions


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Implementation

Starts with decision to proceed with a new program or

strategy

Set specific measurable objectives for all elements of

marketing program

Shift research focus to :

"Did the elements achieve their objectives?"

“Should the marketing program be continued, discontinued,

revised or expanded?"


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Factors Influencing Marketing Research Decisions

Relevance

Type and Nature of Information Sought

Timing

Availability of Resources

Cost-benefit Analysis


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Ethics in Marketing Research

Ethics of the Sponsor

Overt and covert purposes

Dishonesty in dealing with suppliers

Misuse of research information

Ethics of the Supplier

Violating client confidentiality

Improper execution of research

Abuse of Respondents

Falsifying answers


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Conquering Latino Homes

Hispanics account for nearly 12.5% of the U.S. population.

Research shows that Latino households contribute $600 billion of

$1.3 trillion purchasing power of multicultural population.

In 2003 only 5.1% of total advertising dollars in the United States

was focused on Latinos.

By 2050, Hispanic population would represent 25% of US

population.

What do you think the problem is?


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P & G has came out with “Rejuvenating Effects” a gender specific

toothpaste targeting the female customers, who do 82% of the

grocery shopping.

The flavor and package of the product was decided on the basis of

the results from a customer survey filled out by women.

Though the product is priced slightly higher than the other brands

P & G hopes to make women think about the toothpaste in the

same light as skin care lotions and shampoo.

P & G Luring Women with their Feminine Toothpaste


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Harley Davidson Exploring New Markets

Problem: Flat domestic scales

Solution: In 1999, Harley-Davidson started a rental program which provided a way to

hook customers on riding and thereby entice them into buying a motorcycle.

40 percent of those enrolled in the program were female and about 30 percent were under the age of 35

Result: Motorcycles rented went up from 401 days in 1999 to a total of 224,134 days

worldwide in 2004. 32 percent of rental customers surveyed bought a bike or placed an order

after renting, another 37 percent were planning to buy one within a year.

Nearly half of the renters spent more than $100 on Harley-Davidson accessories, such as T-shirts and gloves.

1 Marketing Research Aaker, Kumar, Day Ninth Edition Instructor’s Presentation Slides

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