ChapterFour ManagingMarketingInformationtoGainCustomerInsights LearningObjectives MarketingInformationandCustomerInsightsAssessingMarketingInformationNeedsDevelopingMarketingInformationMarketingResearchAnalyzingandUsingMarketingInformationOtherMarketingInformationConsiderations TopicOutline MarketingInformationSystem MarketingInformationandCustomerInsights FreshanddeepinsightsintocustomersneedsandwantsDifficulttoobtainNotobviousCustomer sunsureoftheirbehavior Apple FordBetterinformationandmoreeffectiveuseofexistinginformation CustomerInsightsare MarketingInformationandCustomerInsights CompaniesareformingcustomerinsightsteamsIncludeallcompanyfunctionalareasCollectinformationfromawidevarietyofsourcesUseinsightstocreatemorevaluefortheircustomersRealvalue HowtouseinformationRedBull Vitaminwater lowsugar CustomerInsights MarketingInformationandCustomerInsights Marketinginformationsystem MIS consistsofpeopleandproceduresfor AssessingtheinformationneedsDevelopingneededinformationHelpingdecisionmakersusetheinformationforcustomer MarketingInformationSystems MIS AssessingMarketingInformationNeeds MISprovidesinformationtothecompany smarketingandothermanagersandexternalpartnerssuchassuppliers resellers andmarketingserviceagencies AssessingMarketingInformationNeeds Balancingwhattheinformationuserswouldliketohaveagainstwhattheyneedandwhatisfeasibletooffer Drivingmarketingcampaigns together GooglexSantander CharacteristicsofaGoodMIS DevelopingMarketingInformation Marketersobtaininformationfrom DevelopingMarketingInformation InternaldatabasesareelectroniccollectionsofconsumerandmarketinformationobtainedfromdatasourceswithinthecompanynetworkCookiesCompaniesdatabaseClientfootprint relationshipwiththebrand Demographicsdata psycographic satisfactionmeasuares InternalData DevelopingMarketingInformation Thesystematiccollectionandanalysisofpubliclyavailableinformationaboutconsumers competitorsanddevelopmentsinthemarketplace Secondarydata ConsumerreportsfromresearchinstitutesNilsen Comscore publicbodies Newspapers competitorsactivities Suppliers CompetitiveMarketingIntelligence DevelopingMarketingInformation MarketingResearch Marketingresearchisthesystematicdesign collection analysis andreportingofdatarelevanttoaspecificmarketingsituationfacinganorganization Buildingfromscratch HighprofilecompanieshaveinternalstructureMarketResearchdivision GE Topbanks P G automobile Outsourcefrommarket DevelopingMarketingInformation StepsintheMarketingResearchProcess DevelopingMarketingInformation MarketingResearchDefiningtheProblemandResearchObjectives preliminaryinformationthatwillhelpdefinetheproblemandsuggesthypotheses describesthings problems situationsMarkets demographics atitudes testshypothesisaboutcauseandeffectrelationships Consideralocalbusinessnearcampus Howwouldtheyconductexploratoryresearch Whatmighttheywanttofindoutindescriptiveresearch Whatrelationshipsmighttheyexploreincausalresearch DevelopingMarketingInformation Outlinessourcesofexistingdata SecondaryData Spellsoutthespecificresearchapproaches contactmethods samplingplans who howmany how andinstrumentstogatherdata MarketingResearchDevelopingtheResearchPlan Ethnographicresearch DevelopingMarketingInformation MarketingResearchWrittenResearchPlanIncludes DevelopingMarketingInformation Secondarydataconsistsofinformationthatalreadyexistssomewhere havingbeencollectedforanotherpurpose MarketingResearchDevelopingtheResearchPlan DevelopingMarketingInformationSecondaryData DevelopingMarketingInformation Primarydataconsistsofinformationgatheredforthespecialresearchplan MarketingResearchDevelopingtheResearchPlan DevelopingMarketingInformation MarketingResearch DevelopingMarketingInformation Observationalresearchinvolvesgatheringprimarydatabyobservingrelevantpeople actions andsituations Mattel LabtoobservechildplayinggamesEthnographicresearchinvolvessendingtrainedobserverstowatchandinteractwithconsumersintheirnaturalenvironment Kraftpaystofamiliestoparticipateoftheirroutines MarketResearchResearchApproaches DevelopingMarketingInformation Surveyresearchisthemostwidelyusedmethodandisbestfordescriptiveinformation knowledge attitudes preferences andbuyingbehaviorFlexiblePeoplecanbeunableorunwillingtoanswerGivesmisleadingorpleasinganswersPrivacyconcerns MarketResearchResearchApproaches DevelopingMarketingInformation Experimentalresearchisbestforgatheringcausalinformation cause and effectrelationships MarketResearchResearchApproaches DevelopingMarketingInformation FocusGroupsSixto10peopleTrainedmoderatorChallengesExpensiveDifficulttogeneralizefromsmallgroupConsumersnotalwaysopenandhonest MarketingResearchContactMethods DevelopingMarketingInformation MarketingResearchContactMethods DevelopingMarketingInformation MarketingResearchOnlineResearch DevelopingMarketingInformation SampleisasegmentofthepopulationselectedformarketingresearchtorepresentthepopulationasawholeWhoistobestudied Howmanypeopleshouldbestudied Howshouldthepeoplebechosen MarketingResearchSamplingPlan DevelopingMarketingInformation Ma