MK8200 - 8/22/18 # RECAP from last week. Secondary Sources. OCA 1, secondary data is super importante. Sometimes secondary data is good enough to answer a question. Uses of Secondary Data Great if it works for answering your question the first time. Prerequisite to collecting primary data. Helps define and refine hypothesis. Use secondary data to see another point of view from your hypothesis. Internal Sources of Secondary Data Internal Records. Customer database very valuable. Helps define [[Customer Lifetime Value]] (V. Kumar) Database contains actual behavior, not attitudes. Online Methods Advantages / Disadvantages: Journals and stuff - Grading system for journals. Has to do with peer review and other factors. - THE SOURCE MATTERS! Appraising / Assessing the value of secondary sources? Who? Why? How? Where did it come from? Resources available for secondary. Posted on icollege. USE IT! # IN CLASS EXERCIESE@@ Research Themes? Customer loyalty, find out more? Industry trends? Particular themes arount Price sensitivity Brand Awareness Loyalty semrush google analytics for website traffic. Coupon claim rate on email marketing. Define research problem, think about where the data could be. END CH 5 # **CH6 - Standardized Sources of marketing Data** Scanner data from grocery stores combined with other techniques can deliver tons of great information. Triangulating from multiple data sources. When Lou Gerstner came into IBM (new CEO), asked to put in one system that could find out the size of the market. Had to use different sources to really find that out. Retail Store Audits Like a mystery shopper. Find out what’s going on with your displays in individual stores. What’s driving the sales? Consumer Purchase Panels Home audit / Mail Diary. Home - Researchers come into people’s houses and look at their pantry. Mail - Sending your receipts. Advantages / Disadvantages Mortality Effect - People ending participation Testing effects - Results change when people know they’re being observed. Process of Scanner Data Collection by IRI Target market prediction story. New laws have been passed to limit that. RFID Might replace bar codes. IBM EXAMPLE: Marketeers would run 1800 events. For the big ones (8k people), tags people would get would have RFID codes. Tracks people’s locations while at the event. Which keynotes they went to? Media Related Standardized Sources Nielsen TV Index Cost per Thousand (CPM) Application of Standardized Data Sources Exercise Secondary Sources will help you answer questions related to the problem/opportunity? (From last week) Online fitness business, how to attract customers? Social Media data. Hashtag search. Frequency of posts. Influencer posts. Ad code redemptions. What will each source offer? Social Media - potential size of market. Demographic information. What can you do with each source of data? END CH 6 # CH 7 - Marketing Research on The Internet There’s too many people on the internet. 50% penetration on a global population scale. Customer expectations are changing, wanting seamlessness and trust. New techniques for unstructured data analysis. How does Google Track you? All of their services. *Online advertisements* enable advertisers to develop a one-to-one relationship with prospective and existing customers. Gives you great insight to your customers. OOH - Out of Home (Billboards) **Primary Research on the Internet** Email surveys **Secondary Research on the Internet** Google Analytics - Lets organizations understand their web activity. Very powerful free tool. Use marketing as a learning tool at every step. Three I’s: Instrumented (able to track stuff). Interconnected (tracked across multiple platforms). Intelligence (Answer questions to what works.) Google Data Studio can import analytics data from other platforms (Instagram, LinkedIn, etc.) How can Google Analytics be used for marketing purposes? - Let’s you increase your marketing performance, know where people visiting are from. Measurement Scorecard to gauge performance & inform adjustments - Knowing the best time to deploy marketing strategies etc. END CH 7 # Exercise: Work on OCA 1 [[MK8200 OCA 1]] Take survey multiple times. Need a bin for the histogram tool. # **CH 8 - Information Collection: Qualitative and Observational Methods** Qualitative is observational in nature. Individual In-Depth Interviews Nondirective - free form answers. Who would you interview? - Employees. - Decision makers for large groups. Focus Group Discussions. - Moderator is very important so they do not bias the group, and also control testers. Applied Marketing Science has a unique approach to Ethnography. - Ethnography sudies settings.. surgical centers, construction sites, auto-body sho.s, and consumer’s kitchen. - Conduct customer visits. Limitations of observational techniques. - No motives, attitudes, or intentions. - May be biased. END CH 8