Beruflich Dokumente
Kultur Dokumente
Knowledge is Power
Accurate, up-to-date, relevant information is the fuel that runs the marketing engine
4 Types of Data
Internal Company Data
Know some examples Intranet (define)
Marketing Intelligence
Know some examples Information about trends in the external environment Futurists/scenarios
Competitive intelligence Industrial espionage
Look-Look employs an army of coolhunters to report on the latest trends
Acquired Databases
Purchase other companies data (say, customer list) Government databases Misuse of customer data is an issue
4
Data mining: Includes sophisticated analysis techniques to take advantage of the massive amount of transaction information now available Analysts sift through data to identify unique patterns of behavior among different customer groups for use in behavioral targeting Behavioral Targeting Uses of data mining
Customer acquisition Customer retention and loyalty Customer abandonment Market basket analysis
Cross-sell/up-sell
Determine whether primary data are required and if so, what type:
Primary data: Information collected directly from respondents to specifically address the question at hand Exploratory research Descriptive research Causal research
11
Causal Research
Cause-and-effect relationships: a change in one thing causes a change in something else
Independent (cause) vs. dependent (change in outcome) variables Experiments: test predicted relationships among variables in a controlled environment
Lab or field study
12
13
Steps 4, 5, 6, and 7
Step 4: Design the Sample
Dont worry about sampling techniques (MKTG 366)
Step 6: Analyze and Interpret the Data Step 7: Prepare the Research Report
15