Ch 4 Notes Real People Real Choices
Chapter 4 notes Marketing Research: gather, analyze, and Use information
1. Knowledge is power.
Information, information, information is is the fuel that runs the marketing engine. Must be accurate up-to-date and relevant
Marketing research
We’ll look at consumer behavior, how and why organizations buy, and then how marketers sharpen their focus via target marketing strategies
Marketing research ethics refers to taking an ethical and above board approach to conducting marketing research that does no harm to the participant in the process of conducting the research.
-marketers must be very clear when they work with respondents about how they will use the data and give respondents full disclosure on their options for confidentiality and anonymity.
-it is unethical to collect data under the guise of marketing research when your real objective is to develop a database of potential customers for direct marketing.
The marketing information system (MIS)
Firms us it to collect information it is a process that first determines what info marketing managers need then gathers it sorts it, analyzes it, stores it and distributes relevant and timely marketing information to users. It includes 3 components: 1. Four types of data (internal company data, marketing intelligence, marketing research, and acquired databases. 2. Computer hardware and software to analyze the data and to create reports 3. Output for marketing decisions makers
Various sources feed the MIS with data, and then the system’s software “digest” it.
MIS analyst use the output to generate a series of regular reports for various decision makers.
1. Internal Company Data
The internal company data system uses info from within the organization to produce reports on the results of sales and marketing activities. Includes: sales records, what’s in stock, out of stock, what was shipped what has been returned
Usually accessible through a company intranet that can
1. Knowledge is power.
Information, information, information is is the fuel that runs the marketing engine. Must be accurate up-to-date and relevant
Marketing research
We’ll look at consumer behavior, how and why organizations buy, and then how marketers sharpen their focus via target marketing strategies
Marketing research ethics refers to taking an ethical and above board approach to conducting marketing research that does no harm to the participant in the process of conducting the research.
-marketers must be very clear when they work with respondents about how they will use the data and give respondents full disclosure on their options for confidentiality and anonymity.
-it is unethical to collect data under the guise of marketing research when your real objective is to develop a database of potential customers for direct marketing.
The marketing information system (MIS)
Firms us it to collect information it is a process that first determines what info marketing managers need then gathers it sorts it, analyzes it, stores it and distributes relevant and timely marketing information to users. It includes 3 components: 1. Four types of data (internal company data, marketing intelligence, marketing research, and acquired databases. 2. Computer hardware and software to analyze the data and to create reports 3. Output for marketing decisions makers
Various sources feed the MIS with data, and then the system’s software “digest” it.
MIS analyst use the output to generate a series of regular reports for various decision makers.
1. Internal Company Data
The internal company data system uses info from within the organization to produce reports on the results of sales and marketing activities. Includes: sales records, what’s in stock, out of stock, what was shipped what has been returned
Usually accessible through a company intranet that can