Marketing Intelligence and Introduction To Market Research

MARKETING INTELLIGENCE AND INTRODUCTION
TO MARKET RESEARCH
Some unanswered questions....
How big is the total opportunity market?

How can we find new prospects and turn them into profitable and loyal
customers?
How can we increase customer satisfaction by offering products customers
are most likely to buy?
How can we understand and target consumers down to the block-group
level?
How can we differentiate households in terms of their financial behavior?
Where are the untapped market opportunities for my products?
Marketing Intelligence
Uses of marketing research.
1. To identify and adequately

describe markets and market
segments.
2. To determine the marketing
mix elements.
3. To gauge competition how it
may affect a firm’s strategy.
4. To determine customer
expectations and how well
they are being satisfied.
What is marketing research?
Marketing research is the development, interpretation, and communication

of decision-oriented information to be used in all phases of the marketing
process.
It influences
 planning,
 implementation, and
 evaluation.
Its focus is not only on information gathering, but on analysis and
implications as well.
Scope of marketing research activities—four sources of
information.
1. Syndicated services.
2. Marketing information
systems.
3. Decision-support systems.
4. Non-recurring proprietary
research projects.
Marketing information systems (MkIS)
Ongoing, organized procedure to generate,

analyze, disseminate, store, and retrieve
information for use in making marketing
decisions.
Characteristics of an ideal MkIS.
1. Includes real-time data.
2. Generates regular reports and
recurring studies as needed.
3. Integrates old and new data to provide
updates and identify trends.
Decision support systems (DSS)
A computer-based procedure allowing managers to interact
directly with data using a variety of methods to integrate,
analyze, and interpret information.
Points to ponder:
 MkIS and DSS both rely on a wide variety of data.
 They are both able to analyze data.
 Unlike a MkIS, a manager using DSS can interact

directly with data to produce customized reports.
 A DSS complements instead of replaces an MkIS by

adding speed and flexibility to the research process.
 DSS has cost as a major drawback, which currently

limits its use to large firms.
Data bases, data warehouses, and data mining
a. Database—assembled data pertinent to a particular topic.

1. Researchers use data bases to probe specific questions and uncover useful
relationships and developments.
2. Database analysis enables marketers to understand the marketplace better and
meet its needs more specifically.
b. Data warehouse—a huge collection of data, from a variety of internal and external
sources, compiled by a firm for its own use or for the use of its clients.
c. Data mining—the use of advanced and artificial-
a. intelligence techniques applied to data warehouses to identify
b. patterns and meaningful relationships in masses of data which would otherwise be overlooked or
unrecognizable to researchers.
Major data sources.
1. Internal vs. external—sales force, sales records, manufacturing, etc.
vs. research suppliers, in-house proprietary collection.
2. Continuous flow vs. occasional or periodic suppliers.
3. Retail scanners—electronic devices at retail checkouts that read
bar codes and provide relevant information with regard to individual
and combined purchases.
4. Single-source data—data which can be traced to individual
households or purchasing units.
Major research projects.
A. Step one of the marketing research process: define the

objective.
B. Step two: conduct a situation analysis.
C. Step three: conduct an informal investigation (Pilot).
D. Step four: plan and conduct the formal investigation.
a. Research Design- Types: Exploratory, Descriptive, Casual
b. Sampling Frame- probability and non probability techniques, size , units and
extent
c. Data collection methods
d. Instruments : For survey as well as analysis
E. Step five: analyze the data and present a report—done by the
researcher to identify relationships, trends, and patterns in written
and/or oral reports.
F. Step six: conduct the follow-up to determine if recommendations

are being used, the original problem was correctly defined, and the
project itself was on target.
1. Select sources of information.
a. Primary data—new data gathered specifically for the purposes at hand.

b. Secondary data—data already gathered for some other purpose and
available for present use.
Sources of secondary data:
a. Records and reports from within the firm.
b. Libraries.
c. All three levels of government.
d. Trade, professional, and business associations.
e. Private research firms.
f. Advertising media.
g. University research programs
Sources of primary data and data collection methods
Sources of primary data.

a. Firm’s sales force.
b. Firm’s suppliers.
c. Current or potential customers
Primary data-gathering method:
a. Observation method—collecting data by observing a person’s actions or market events.

b. Survey method—data gathered through face-to-face, telephone interviews, or mail surveys.
c. Experimental method—using data gathered to determine the results of changing one variable
in a situation while holding all others constant. These include laboratory experiments, field
experiments, and test marketing.
Preparation of data collection instruments
a. Carefully choose question wording.

b. Determine response format.
c. Design questionnaire layout.
d. Pre-test selected forms/questionnaires
Source of competitive intelligence.
1. Data bases created and sold by research firms.

2. Government reports.
3. Employees—your own (especially salespeople) or those of competitors.
4. Observation.
5. The Internet. Legal and ethical problems abound.
Elaborate security measure may be needed to protect confidential information

Ethical issues in marketing research.
A. Privacy in data collection—what constitutes invasion of privacy?

B. Privacy in data use—who may rightfully own or use personal information collected
for research purposes?

C. Intrusiveness—what are the rightful limits of requests for information?
D. Deceptive implementation—what constitutes the collection of data under false or
misleading pretenses?
E. False representation—conducting research should be held separate from the
solicitation of sales or fund raising

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MARKETING INTELLIGENCE AND INTRODUCTION

How big is the total opportunity market?

1. To identify and adequately

Marketing research is the development, interpretation, and communication

Ongoing, organized procedure to generate,

 They are both able to analyze data.

 Unlike a MkIS, a manager using DSS can interact

 A DSS complements instead of replaces an MkIS by

 DSS has cost as a major drawback, which currently

a. Database—assembled data pertinent to a particular topic.

A. Step one of the marketing research process: define the

F. Step six: conduct the follow-up to determine if recommendations

a. Primary data—new data gathered specifically for the purposes at hand.

Sources of primary data.

Primary data-gathering method:

a. Observation method—collecting data by observing a person’s actions or market events.

a. Carefully choose question wording.

1. Data bases created and sold by research firms.

Elaborate security measure may be needed to protect confidential information

A. Privacy in data collection—what constitutes invasion of privacy?

for research purposes?

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