Essay on Study Guide Mkt 232

Submitted By Brownballa1
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Read the book chapter 1; pp. 5-16
€What is Marketing? Marketing Research?
€Marketing - Old definition (until 2005)
€New definition “a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.”
€What is Marketing Research? Read pp. 9-10
Purpose of Marketing Research
€Read page 10
€Marketing research’s purpose is to link the consumer to the marketer by providing information that can be used in making marketing decisions.
Marketing Research’s link to marketing strategy
€Read page 9
€Marketing strategy consists of selecting a segment of the market as the company’s target market and designing the proper *mix* of product, price, promotion, and distribution system to meet the wants and needs of the consumers within the target market.
What are the uses of Marketing Research?
€Read pp. 12-14
€Identify market opportunities and problems
€Generate, refine, and evaluate potential marketing actions
€Monitor marketing performance
€Improve marketing as a process
Continued…Sometimes marketing research studies lead to the wrong decisions (pp. 11-12, plus Practical Research Insights pp.7-8)
€Stella Artois (p.11)
€€Seinfeld (pp. 11)
€€Delicare (p. 12)

Marketing Information System (MIS)
€Read page 15
€€MIS is “a structure consisting of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers. Day 2
Marketing Research
Chapter 3: Marketing Research Industry and Ethical Issues
Class 2
What you should take away from this chapter reading assignment:
€What is The Honomichl Top 50?
€What are some of the recent trends in the industry?
€How are MR suppliers classified?
€How is internal suppliers organized by?
€What are different types of external suppliers?
€What are the two schools of ethics philosophy?
€What are some of the ethical issues with marketing research?
Marketing Research Industry
€The Honomichl Top 50
€What are some of the trends in recent years?
Classification of Marketing Research Suppliers (page 48, Figure 1)
Internal Supplier of MR
€How are they organized by? (see page 48)
€Formal MR department exists
• area of application
• marketing function
• research process
€No formal department
External Suppliers
€Full-service suppliers
•Syndicated Data Service firms
•Standardized Service Firms
•Customized Service Firms
•Online Research Service Firms
€Limited Service suppliers
External Suppliers continued
€Methods of Organization
•Type of research application
•Types of customers
•Combination of the above
FYI: Career in Marketing Research
€Pp.77-81 if you are interested.
€On p.79 you will see Matt Senger, ISU alum, and his story of how he became a marketing researcher. Ethics in Marketing Research Practices (pp. 62-70)
€Your ethical views are shaped by your philosophy
Why are Ethical Issues Problematic?
Is this Ethical?
1. A research company decides to leave a message on prospective respondents’ answering machines telling them that if they call back in the next 24 hours, they will receive a valuable prize if they take part in a survey.
Is this Ethical?
2. Upon completion of an interview, the respondent is asked to provide the names and telephone numbers of others he or she thinks should take part in the survey.
Is this Ethical?
3. A door-to-door salesman finds that by telling people that he is conducting a survey, they are more likely to listen to his sales pitch.
Is this Ethical?
4. The cover letter of a mail questionnaire says that it will "only take a few minutes to fill out." But pretests have shown that at least fifteen minutes are needed to fill it out.
Is this Ethical?
5. Telephone interviewers are instructed to assure the respondent