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Chapter 4- slide 1 Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall I t ’s good and good for you Chapter Four Managing Marketing Information to Gain Customer Insights

Chapter 4- slide 1 Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall I t ’s good and good for you Chapter Four Managing Marketing Information

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Page 1: Chapter 4- slide 1 Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall I t ’s good and good for you Chapter Four Managing Marketing Information

Chapter 4- slide 1Copyright © 2012 Pearson Education, Inc.  Publishing as Prentice Hall

I t ’s good and good for you

Chapter Four

Managing Marketing Information to Gain Customer Insights

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Chapter 4- slide 2Copyright © 2012 Pearson Education, Inc.  Publishing as Prentice Hall

Case – Dosage Preference

Market Insights – Attitudes & Behaviors of Doctors Continued..

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Case – Dosage Preference

• Doctors in African countries tend to give higher dosages particularly of antibiotics. They provide the rationale that their body structure and weight is higher than other nations. However, in many instances the dosage are not according to the recommended mg/Kg body weight regimen.

• On the contrary, doctors in Vietnam, Cambodia, Sri Lanka tend to prefer lower dosage. The rationale again being the lower body weight of these nation. However, often the doses are under the recommended regimen.

• Brand Managers treats “perception as reality” and following “out-side in thinking” provide higher strength/SKU in African market & lower in Sri Lanka, Vietnam & Cambodia.

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MINDS ARE INSECURE“HERD MENTALITY”

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For Customer Insights You Need Mindset Rather Than

Financial Resources

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Chest Conference at Chennai

• During that period there was a shift of TB treatment from combination of two ingredients to combination of multiple medicine.

• Top chest physicians of India were available for 3 days.

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MNC - Sponsored $

Small Local Firm - Registered

Conducted exploratory research on Doctors’ attitude regarding multiple ingredient combination.

On the basis of findings, launched 2 new products.

Became forerunner in TB sub-category.

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Market Insights

What are the attitudes & behaviors of patients towards seeking treatment, compliance, purchasing power, brand and competitors?

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MINDS DON’T CHANGE - EASILY

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Attitude & Behavior of Patients towards…

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Attitude & Behavior of Patients towards…

CaC 1000 1.4 bnSurbex Z 0.8 bn

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Panadol Target Market Case

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Panadol - Guatemala

• Insights, Strategy And The Idea: The objective was to position panadol ultra in rural areas of guatemala.

• Most of the population is comprised of women from mayan descent with high levels of illiteracy, as the brand that eliminates headaches.

• Audience who couldn’t read or write.

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Panadol - Guatemala

• Visual representation of the benefit• Medium that would feel natural to them,

something habitual in their daily lives; carrying things on their head.

• Sponge in the shape of a panadol ultra pill, to be used as a cushion and help them reduce the discomfort and headaches.

• Women became walking ads for panadol ultra.

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Panadol - Guatemala

• Results: The sales of panadol ultra increased by 45% in the targeted rural areas, becoming the only brand that has been able to conquer a market that until then had been impossible to penetrate.

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Know the Market

• Market Size & Growth Rate• Therapeutic Category Size & Growth Rate• Number of Patients (IMS Blue Book)• Absolute & Relative Market Potential• Prescription Trends (IMS Blue Book)• Brand Share & Growth Rate• Key Competitor’s Share & Growth Rate

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Role of Market Research

• Secondary Research (Internet, Public Info, etc)

• Syndicated Research (IMS, Sals, etc)• Primary Research:

– Third Party Research Firm (AC Neilson, etc)– Through Sales Team

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WHAT PHYSICIANS THINK OF VARIOUS BRANDS IN A CATEGORY

PERCEPTUAL MAPPING

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Corporate Brands Perceptual Map

GSKPfizer

Abbot

NovartisSanofi Aventis

Getz

Sami

Roche

MerckHilton

QUALITY

COST -VE

COST +VE

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Genera

l

Qualit

y

Availabili

ty

Cost-Effe

ctiveness

Academic

-Focus

Ethic

sR&D

Corporate Perceptual Map

GSKAbbottGetzSamiHilton

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High Quality

High Price

Low Quality

Low Price Ruling IV

Omezol IV Teph IV

Noctis IV

Helezol IV

Omega IV

Opepzol IV

Ranulcid IV

Purple IV

Zopent

Esorid

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Perceptual Map Anti-Ulcerants

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Perceptual Map – Rocephin & Competitors

Physician Ranking of Attributes

Very

good Good

Satisfactory

Non-satisfactory

Efficacy

Safety

Patient adherence to therapy

Innovativeness

Company image

Cost

*

Rocephin

Claforan

Oxidil

Rocephin perceived to be “Very Good” across all 5 attributes followed by Claforan and Oxidil

Source: KOL feedback through Survey

Cefxone

Key Points

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LIKERT SCALE

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Learning Objectives

• Marketing Information and Customer Insights• Assessing Marketing Information Needs• Developing Marketing Information• Marketing Research• Analyzing and Using Marketing Information• Other Marketing Information Considerations

Topic Outline

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Marketing Information and Customer Insights

• Fresh and deep insights into customers needs and wants

• Difficult to obtain– Not obvious– Customer’s unsure of their behavior

• Better information and more effective use of existing information

Customer Insights are:

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Marketing Information and Customer Insights

• Companies are forming customer insights teams– Include all company functional

areas– Collect information from a

wide variety of sources– Use insights to create more

value for their customers

Customer Insights

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Marketing Information and Customer Insights

Marketing information system (MIS) consists of people and procedures for:

– Assessing the information needs– Developing needed information– Helping decision makers use the information

for customer

Marketing Information Systems (MIS)

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Marketing Information System

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Assessing Marketing Information Needs

MIS provides information to the company’s marketing and other managers and external partners such as suppliers, resellers, and marketing service agencies

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Assessing Marketing Information Needs

• Balancing what the information users would like to have against what they need and what is feasible to offer

Characteristics of a Good MIS

User’s Needs

MIS Offerings

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Developing Marketing Information

Internal data

Marketing intelligence

Marketing research

Marketers obtain information from

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Developing Marketing Information

Internal databases are electronic collections of consumer and market information obtained from data sources within the company network

Internal Data

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Developing Marketing Information

The systematic collection and analysis of publicly available information about consumers, competitors

and developments in the marketplace

Competitive Marketing Intelligence

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Developing Marketing Information

Marketing Research

• Marketing research is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization

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Developing Marketing Information

Steps in the Marketing Research Process

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Developing Marketing Information

Marketing ResearchDefining the Problem and Research Objectives

Exploratory research

Descriptive research

Causal research

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Developing Marketing Information

• Outlines sources of existing data

• Spells out the specific research approaches, contact methods, sampling plans, and instruments to gather data

Marketing ResearchDeveloping the Research Plan

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Developing Marketing Information

Management problem

Research objectives

Information needed

How the results will help management decisions

Budget

Marketing ResearchWritten Research Plan Includes:

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Developing Marketing Information

Secondary data consists of information that already exists somewhere, having been collected for another purpose

Marketing ResearchDeveloping the Research Plan

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Developing Marketing InformationSecondary Data

Advantages

Cost

Speed

Could not get data otherwise

Disadvantages

Current

Relevant

Accuracy

Impartial

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Developing Marketing Information

Primary data consists of information gathered for the special research plan

Marketing ResearchDeveloping the Research Plan

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Developing Marketing Information

Planning Primary Data Collection

Research approaches

Contact methods

Sampling plan

Research instruments

Marketing Research

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Developing Marketing Information

Observational research involves gathering primary data by observing relevant people, actions, and situations

Ethnographic research involves sending trained observers to watch and interact with consumers in their natural environment

Market ResearchResearch Approaches

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Developing Marketing Information

Survey research is the most widely used method and is best for descriptive information—knowledge, attitudes, preferences, and buying behavior

• Flexible• People can be unable or unwilling to answer• Gives misleading or pleasing answers• Privacy concerns

Market ResearchResearch Approaches

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Developing Marketing Information

Experimental research is best for gathering causal information—cause-and-effect relationships

Market ResearchResearch Approaches

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Developing Marketing Information

Strengths and Weakness of Contact MethodsMail Telephone Personal Online

Flexibility Poor Good Excellent Good

Quantity of data collected

Good Fair Excellent Good

Control of interviewer effects

Excellent Fair Poor Fair

Control of sample

Fair Excellent Good Excellent

Speed of data collection

Poor Excellent Good Excellent

Response rate Poor Poor Good Good

Cost Good Fair Poor Excellent

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Developing Marketing Information

• Focus Groups– Six to 10 people– Trained moderator– Challenges

• Expensive• Difficult to generalize from small group• Consumers not always open and honest

Marketing ResearchContact Methods

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Developing Marketing Information

Online marketing research

Internet surveys

Online panels

Online experiments

Click-stream data

Online focus

groups

Marketing Research Contact Methods

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Developing Marketing Information

Advantages

• Low cost• Speed• Higher response rates• Good for hard to reach groups

Marketing Research Online Research

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Developing Marketing Information

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 ResearchSampling Plan

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Developing Marketing Information

Probability Sample

Simple random sample Every member of the population has a known and equal chance of selection

Stratified random sample

The population is divided into mutually exclusive groups and random samples are drawn from each group

Cluster (area) sample The population is divided into mutually exclusive groups and the researcher draws a sample

Nonprobability Sample

Convenience sample The research selects the easiest population members

Judgment sample The researcher uses their judgment to select population members

Quota sample The researcher finds and interviews a prescribed number of people in each of several categories

Marketing Research Sampling Plan – Types of Samples

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Developing Marketing Information

Marketing ResearchResearch Instruments

Questionnaires

• Most common• Administered in person, by phone,

or online• Flexible• Research must be careful with

wording and ordering of questions

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Developing Marketing Information

• Closed-end questions include all possible answers, and subjects make choices among them– Provide answers that are easier to interpret

and tabulate• Open-end questions allow respondents to

answer in their own words– Useful in exploratory research

Marketing ResearchResearch Instruments—Questionnaires

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Developing Marketing Information

Mechanical devices

People meters

Checkout scanners

Neuro-

marketing

Marketing ResearchResearch Instruments

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Developing Marketing Information

Collecting the information

Processing the information

Analyzing the information

Interpret findings

Draw conclusions

Report to management

Marketing ResearchImplementing the Research Plan

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Analyzing and Using Marketing Information

Managing detailed information aboutindividual customers and carefullymanaging customer touch points tomaximize customer loyalty.

Customer Relationship Management (CRM)

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Analyzing and Using Marketing Information

Customer purchases

Sales force contacts

Service and support

calls

Web site visits

Satisfaction surveys

Credit and payment

interactions

Research studies

Customer Relationship ManagementTouchpoints

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Distributing and Using Marketing Information

Information distribution involves entering information into databases and making it available in a time-useable manner

• Intranet provides information to employees and other stakeholders

• Extranet provides information to key customers and suppliers

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Other Marketing Information Considerations

Marketing Research in Small Businesses and Nonprofit Organizations

International Market Research

Public Policy and Ethics

• Customer privacy• Misuse of research findings