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Flashcards in 4. Information Management And Market Research Deck (10):
1

Information management in the digital world

A marketing information szsten consist of people equipment and procedures to gather sort Analyse needed timely and accurate information to marketing decision makers

2 main sources:
Internal record (sales info)
External record (marketing intelligence system managers use to obtain everyday information about developments in the. Marketing environment

2

Info Management in the digital world

-database marketing : looks on the process of building, maintaing and using the database of the customer to deal with the relationship

-data mining: statistically extract info through individuals

-data warehousing: make use of this information and store it whenever you have contact with the customer


In the middle of those 3 is the customer relationship management

3

Marketing research

Is defined as the systematic design, collection, analysis and reporting of data and findings relevant to a specific marketing situation facing the company.

Why is it relevant?
- calculate the customer lifetime v
-predict the acceptance of new texhnology
-determine the profit max price

4

S-O-R Model
Stimuli organism and response

Marketing stimuli: product and services, price, people...
other stimuli: economic, technology, political, cultural

Organism: consumer psychology and characteristic

Response: buying decision process, purchase decision


Market research budget is about 1-2% of sales

5

The market research process

1. Define problem and research objective
2. Develope plan
3. Collect info
4. Analyse info
5. Report the findings
6. Make decision

6

Research plan 3 main criteria

Validity:
Reliability: sth is found over and over again
Objectivity: no bias is included


Research designs:
Exploratory
Descriptive
Explicative

7

Research paradigm

Quantitative research methods
Goal: explain predict and control

Qualitative research methods
Goal: understand discover and diagnose
BSP flea market

8

Research designs: step2 develope the research plan

Exploratory: qualitative design use focus groups, word associations, projective techniques

The combination of using both quality and quantity methods is called mixed method research design


Descriptive: quantitative designs use surveys,panels, observation

Explicative: quantitative designs use hypotheses
Independent variable: variable that causes an effect
Dependant V: V that is affected by independent V
Extraneous V: v that affect the dependant V

9

Experiment

Experiment can me made either in the field or in the lab

Quasi Experiment: Self selection of people

Experiment: randomn assignment

10

Characteristic of good market research

Use scientific methods
Research creativity
Use multiple methods
Interdependence of Models and data
Value and cost info
Healthy skepticism
Ethical marketing