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Aaker, Kumar, Leone and Day Eleventh Edition Instructors Presentation Slides
Chapter One
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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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Business Intelligence
Business Intelligence Financial Intelligence Management Intelligence Marketing Intelligence Accounting Intelligence
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Marketing Research
Primary Sources
Secondary Sources
Standardized Sources
Provide data on
Prospects
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Customers
Competition
Products/Markets
Marketing Research 11th Edition
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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 AMAs official definition of Marketing Research)
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Strategy Development
Implementation
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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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5. Personal selling decisions 6. Price decisions 7. Branding decisions 8. 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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Abuse of Respondents
Falsifying answers
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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.
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