Principles of
Marketing - I
Module 4
Dr. Neha Singh Agarwal
Module 4 – Managing Marketing Information
Assessing Marketing Information Needs
Developing Marketing Information
Market Research
Analyzing Marketing Information
Scan here :
The Case of Coca - Cola in
1985
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[Link]
Considered as the Biggest blunder in the History of Coca-Cola.
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Why Branding
and
Advertising
students need
to study
Research?
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From finding the
right TG, to finding
the right positioning,
to product features,
to price, to
promotion strategy,
everything is
supported by Market
Research.
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Amazon’s playbook for
killing competition
The curious case of
A consumer sees an ad for a product that
seems perfect for them and rejoices over
their luck, but this scenario likely didn’t (and
shouldn’t) come down to luck. Companies
make these scenarios possible through
strategic market research. Equipped with
valuable information about its target market,
a company can develop products and create
marketing campaigns that appeal directly to
consumers.
Big Data : The huge and complex data sets generated by today’s
sophisticated information generation, collection, storage, and analysis
technologies.
[Link]
Marketing Customer insights are fresh
Information and marketing information-based
Customer Insights understandings of customers and
the marketplace that become the
What are Customer Insights?
basis for creating customer value,
engagement, and relationships.
Why do we need customer insights?
• Fresh and deep insights into customer needs and wants
• Needs and buying motives not obvious
• Customers usually can’t tell you what and why
• Better information and more effective use of existing
information
The Marketing Information Ecosystem
A marketing information system (MIS) provides information to the company’s
marketing and other managers and external partners such as suppliers, resellers, and
marketing service agencies. Naisha is the bestttttt
1. Assessing Marketing Information Needs
Balancing the information users would like to have against what they need and what is feasible to
offer.
Both oversupply of irrelevant data and the scarcity of useful data, must be avoided.
User’s
Needs
MIS
Offerings
2. Developing Marketing Information
Marketers obtain information from:
Internal Data
Competitive Marketing Intelligence
Marketing Research
A. Internal Data
Internal databases are collections of
consumer and market information
obtained from data sources within the
company network. Naisha is the best
Also known as Administrative Data
Pros and Cons of
internal data
Quick and Cheap to access
Maybe incomplete or be in the wrong
form for decision making, as it wasn’t
collected for the purpose at hand.
B. Competitive Marketing Intelligence
Competitive marketing intelligence is
the systematic collection and analysis
of publicly available information about
consumers, competitors, and
developments in the marketing
environment. Naisha is the best
C. Marketing Research
Marketing research is the
systematic design, collection,
analysis, and reporting of data
relevant to a specific marketing
situation facing an organization.
Marketing Research Process
Step 1: Defining the Problem and Research Objectives
Defining the Problem
and Research
Objectives is the
most difficult step in
the process
Ask the right
questions !
Step 1: Defining the Problem and Research Objectives
Gather Preliminary information
that will help further define
Exploratory research research problems.
Objectives are defined on
the basis of the type of
Research Study Descriptive research Better describe market and
Consumer characteristics.
Experimental / Causal Test hypothesis about cause-
research and-effect relationships.
[Link]
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Which Research Design would be best suited?
1. A large-scale survey to describe the preferences and buying habits of consumers
for a specific product.
2. Researchers analyzing existing academic papers to understand the current
knowledge and gaps in a field.
3. A classroom using a new teaching method while another uses the traditional
method to compare student performance.
4. A national census collecting demographic data to describe the age, income, and
education levels of the entire population.
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Step 2. Developing the Research Plan
Types of Data
Information that already
exists somewhere,
Secondary Data Spells out the specific research
Having been collected for
another purpose.
approaches, contact methods,
sampling plans, and instruments
Information collected for to gather data
the specific purpose at Primary Data
hand.
Gathering Secondary Data
Disadvantages
Advantages
- data may not be
Lower cost Relevant
Obtained quickly Accurate
Current
Impartial
Gathering Primary Data Collection
Observational
Surveys
Interviews & Focus Groups Research Approaches
Experimental
Digital Text Analysis Mail, Phone, Interviewing
Contact Methods
Online Tracking & Targeting Online Surveys
Probability Sampling Sampling Plan
Non- Probability Sampling
Research Instruments Questionnaires
Research Approaches
• Observational research involves gathering primary data by observing relevant
people, actions, and situations.
• Survey research involves gathering primary data by asking people questions about
their knowledge, attitudes, preferences, and buying behavior.
• Experimental research involves gathering primary data by selecting matched
groups of subjects, giving them different treatments, controlling related factors,
and checking for differences in group responses.
Research Approaches
• Digital Text Analysis using AI-driven automated analysis to gain insights from large
volumes of text data that are posted by customers on different forums.
• Online Tracking and Targeting Using online consumer tracking data and analytics to
target advertisements and marketing offers to specific consumers.
Sampling Plan
A sample is a segment of the population selected for marketing research to
represent the population as a whole.
• Who is to be studied?
• How many people should be studied?
• How should the people be chosen?
Marketing Research
Each element of the
population has an EQUAL
PROBABILITY
Of being selected in the
sample.
Each element of the
population DOES NOT have
an EQUAL PROBABILITY
Of being selected in the
sample.
Marketing Research
Primary Data Collection
Research Instruments--Questionnaires
• Most common
• In person, by phone, or online
• Researchers must be careful with wording and ordering of questions
Closed-ended
Open-ended
• Useful in Descriptive research
Marketing Research
STEP 3. IMPLEMENTING THE RESEARCH PLAN
• Collecting the information
• Processing the information
• Analyzing the information
Marketing Research
STEP 4. INTERPRETING AND REPORTING
FINDINGS
• Interpret findings
• Draw conclusions
• Report to management