...Marketing Information Systems Marketing information systems have been defined as “people, procedures, and a software system used to collect, analyze, and assess market information so that decision makers can use it.”(Armstrong et al., 2009, p.184). Marketing information systems (MIS) are a set of unique marketing tools that assists corporations around the world to utilize information gained from marketing research to assess their products and formulate their plans for the future. Models of consumer behaviour can influence the development of their products and services , as well as impacting decisions such as; the appropriate locations for their businesses, and development of their marketing strategies. Once companies collect the information regarding consumer behaviours and their purchasing habits, it is analyzed in order to draw conclusions and make informed business choices. The objective is to utilize this information in order to generate the largest possible revenues (Buyer to consumer). Information is gathered through interviews, customer comment forms , consumer inquires and spending patterns gathered through loyalty cards. The information is gathered and the analysis provides insight into products and services being purchased by different demographic groups (i.e., age, gender, ethnicity, etc.), and in different locations. After this is achieved, organizations can then target their marketing and advertising of the right product to the appropriate customer...
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...Hypothesis Identification Article Analysis Hypothesis Identification Article Analysis Augmented Reality Experimental Marketing is the basis for this Hypothesis Identification Article Analysis. The hypothesis of the study was to determine if the Augmented Reality Experimental Marketing (AREM) is a sustainable marketing tool (Bulearca and Tamarjan,2010). This tool will allow more access and marketing opportunities online. The main focus was to determine if this tool is marketable and beneficial for companies or their brands. To conduct the testing focus groups were used. This method was chosen because it offers great discussions like everyday conversations with no restraints. A pilot study will be implemented to amend any questions prior to the focus group study. The technique of peer checking was instituted to find blind spots and ensure the validiality of the questions. Member checking was used to verify the accuracy of the study and enables the researcher to get valuable feedback from the focus group. A good description of participants was provided to ensure the case study focus groups were viable and can be used for further research. The use of Augmented Reality as a form of experiential marketing during the past two years has been raising numerous controversies regarding its long-term benefits, extending from AR being only a promotional tool, to AR effectively contributing to a positive customer-brand relationship and to customer satisfaction through the creation...
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...Internet Tools and Dirt Bikes By: Anthony Williams Based upon the information given to us, Dirt Bikes first order of business should be to sit down and draw up a plan regarding how they will proceed and what they will need to achieve that goal followed by an Internet and Information and tools usage policy. First thing to determine is how many of Dirt Bikes employees actually need computers or mobile devices and of those that need a PC or mobile device, who needs access to the internet in order to do their job. Like everything else, without a plan as in many other business aspects, implementation of an Intranet is doomed to fail without being properly planned. After determining their needs we need to look at the benefits of intranets for Sales and Marketing, Human Resources and Manufacturing and Production. An intranet is inexpensive to implement and easy to use. Because a majority of people surf the web/internet already, implementation and learning how to use the company intranet should be fairly easy. Intranets are also scalable and flexible which means as the company increases production and or size so can its intranet. Intranets can integrate data from diverse sources, such as manufacturing and production along with sales and marketing, external competitor research, etcetera. Company intranets with different focuses can offer Dirt Bikes many benefits such as improved decision making, empowering users to be part of the process and have input by building a...
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...Bakery and Pastries � Fresh Produce � Fresh Meat & Seafood � Condiments and Packaged Foods � Cheese's and Specialty Dairy Products Market Research Market research comprehends all the areas of marketing, right from the thought for a new product to after sales service. The information which is accumulated and examined with the help of marketing research can efficaciously be applied for internal directs or for making substantial strategic decisions. The process of market research extends a scientific platform, in contrast to traditional non-rational approach of decision making by company managers, which used to engage a large amount of resources of organization at a risk (Kotler, 2002). Significance of Marketing Research in Kudler Fine Foods The environment for marketing has become vivacious and chaotic. Without adequate grounding, it is not simple for organizations to survive in such an environment. Companies need to assemble information about their customers' likes and dislikes and the grounds for them. Peculiarly in case of a food company, it is very essential for it to distinguish the taste and orientations of its customers as tastes of consumers in respect to their food habits change often. To resolve all these market related troubles, company can make use of market research like Kudler Fine Foods. Market research alleviates it in...
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...the purpose of market research? Marketing research can help firms to discover consumers' opinions on a huge range of issues, e.g., views on products' prices, packaging, recent advertising campaigns Reduce the risk of product/business failure - there is no guarantee that any new idea will be a commercial success, but accurate and up-to-date information on the market can help a business make informed decisions, hopefully leading to products that consumers want in sufficient numbers to achieve commercial success. Forecast future trends - marketing research can not only provide information regarding the current state of the market but it can also be used to anticipate future customer needs. Firms can then make the necessary adjustments to their product portfolios and levels of output in order to remain successful. Q2: Explain the difference between primary research and secondary research? Primary Research vs. Secondary Research Primary research and secondary research are two terms that are to be understood differently due to the fact that they differ in their concepts and methods. One of the major differences between primary and secondary research is that primary research is conducted with the help of the primary sources available whereas secondary research is conducted on the basis of some data collected from someone who had got it from some source. Let us take an example to point out the difference between primary research and secondary research. Interviewing someone...
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...MARKETING (WH) {MKTG} L/R 101. Introduction to Marketing. (C) Niedermeier. The objective of this course is to introduce students to the concepts, analyses, and activities that comprise marketing management, and to provide practice in assessing and solving marketing problems. The course is also a foundation for advanced electives in Marketing as well as other business/social disciplines. Topics include marketing strategy, customer behavior, segmentation, market research, product management, pricing, promotion, sales force management and competitive analysis. 211. (MKTG773) Consumer Behavior. (C) Cutright, Reed. Prerequisite(s): MKTG 101. This course is concerned with how and why people behave as consumers. Its goals are to: (1) provide conceptual understanding of consumer behavior, (2) provide experience in the application of buyer behavior concepts to marketing management decisions and social policy decision-making; and (3) to develop analytical capability in using behavioral research. 212. (MKTG756) Marketing Research. (C) Shen, Eliashberg. Prerequisite(s): MKTG 101, STAT 101. Students are highly encouraged to take statistics in the semester immediately preceding this course. This course examines the role of marketing research in the formulation and solution of marketing problems, and the development of the student's basic skills in conducting and evaluating marketing research projects. Special emphasis is placed on problem formulation, research design, alternative methods...
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...Running head: MARKETING RESEARCH PAPER Marketing Research Paper Name University Marketing Research Paper – Kudler Fine Foods Gathering reliable information is a crucial activity before the deployment of a rewarding marketing plan. Kudler Fine Foods is a specialty grocery store located in the San Diego Metropolitan area that focuses on high-end food products. The company hopes to expand its scope of operations and boost the loyalty of its customer base. In order to achieve these goals, the company will conduct marketing research to identify opportunities and threats that exist in the external environment (Staff 2012). Marketing research can be defined as the process of collecting custom data and competitive intelligence that will enable managers to make value-adding decisions. The following paper will analyze the importance of marketing research as it relates to the business plan of Kudler Fine Foods. Areas that Require Additional Marketing Research Kudler Fine Foods has enjoyed a high rate of success in the regional grocery store industry, but there are areas of weakness in the business model that must be explored. Currently, the company is only taking advantage of newspaper advertisements in the local area to run sales. The importance of newspaper as a marketing medium is rapidly diminishing for many businesses. Younger generations of consumers do use printed newspapers to obtain information in their daily lives – rather they opt to use social media, mobile technology...
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...listeningSocial Media Research: How Seriously Do You Listen to Consumers Online? By Marguerite McNeal Once upon a time, marketing researchers relied on the principal that to uncover consumers’ insights, they had to ask a question. “The consumer landscape itself is changing and that’s something we need to understand as both marketers and market researchers,” says Sourabh Sharma, social media research expert at SKIM, a Rotterdam, Netherlands-based market research and consulting agency. “Consumers very positively have more options of how to express themselves.” Current and candid brand sentiment exists on Facebook posts, Twitter feeds and blog posts. Companies are becoming more data-driven and brand-obsessed. How can marketing researchers harness this realtime data to gather deeply emotional insights from consumer chatter online and turn it into actionable business strategies? Sharma says researchers must go beyond social media monitoring, which accounts for the volume of conversation about a brand, and become more active listeners. With listening, “you’re not only asked to seek your brand, but perhaps associations with it or associations with your category, to scope out not just what a conversation looks like and where it spikes, but to see whether they’re positive and when they’re positive,” Sharma says. Some researchers approach social media with trepidation, dismissing it as frivolous compared to classical research methods. A recent Forrester report stated that while nearly...
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...After reviewing the video and reading Data Mining: A Competitive Weapon for Banking and Retail Industries; I learned that when marketing research was born – sort of. Since the mid 1890’s marketing research has come a long way; I learned how the company, Burke utilizing a rigid process to collect data for many different consumer research studies (Burke Video, n.d.). They involve web interviews, telephone calls, internet, and meeting with the clients face-to-face. The company redesigned their process and developed a plan to include customer ideas to develop ways to reach customers utilizing a revised type of analytical strategy involving time, frequency, or occasion in one overall process a digital dashboard. This process is similar to data mining; both methods allow the researches to perform steps to obtain a sample size that will allow them to obtain the data needed to make a critical decision. The key is to make a very clear research process that will address the problem so everyone can follow until the next change to make the company valuable to consumers (Burke Video, n.d.). Hormazi, and Giles (2004) states that the main idea of utilizing data mining is to extract the most important data from the existing data and enable better decision making (p. 63). This is a critical step that is noticed in the Burke video as each participant is discussing how the company changed their data collecting method to create the digital dashboard. During the process of the Burke’s method...
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...In 1998 Kathy Kudler came up with an innovative marketing idea for her community, she created Kudler Fine Foods. Kathy created this one stop gourmet shop to alleviate the frustration of her fellow gourmet cooks who like her were tired of going from place to place to find special ingredients. The marketing approach she took was to do more than offer these ingredients to her future customers; she marketed herself as offering the freshest and finest ingredients available. Kathy also aimed to appeal to her customers with an environment that could network, exchange ideas and learn from each other. Kudler Fine Foods is now interested in further expanding the services they offer. In addition to the organic produce, fine ingredients and in store parties they would like to add catering. This paper will address the opportunities that they have in their marketing mix (product, price, promotion and place) for its new catering company. The paper will also discuss and assess the relative value of the two types of marketing research, explain components of the new marketing mix of Kudler's new catering service and explain how Kudler should determine the products they want to offer. Kudler will have to take steps such as determining pricing, how they will place catering and promote in addition to evaluating how the target market affects its use of technology. Kudler will have decide if adding a catering service will be mesh with it’s decision to use local organic produce growers and they...
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...Marketing Research Tools Marketing Research is defined by McDaniel &ump; Gates (2007) as the “planning, collections, and analysis of data relevant to marketing decision making and the communication of the results of this analysis to management”. Key information is acquired, analyzed, and preserved by allowing the organization to make decisions utilizing statistical information found by primary and secondary research. Market research is grouped into two categories, primary and secondary, of which is defined by the source that collected data information to solve a specific problem. Primary data research is done by the organization for a specific objective and customized to meet that need. Aakar, Kumar, &ump; Day (2007) define primary data as being collected for a specific purpose. If, for example, an organization is trying to figure out the customer satisfaction rate of it shoppers for a particular product by use of an online survey, the information gathered is considered primary data research. Secondary data research is data information that has already been gathered by a separate entity for a different purpose. They further describe this secondary data as being already available, as it was gathered for a different purpose rather than the solving the present specific problem (Aakar, Kumar, &ump; Day, 2007). An example of this would be population information taken from the Census to be applied as supportive and enhanced data in a marketing plan. Research Tool: Interviews...
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...1 Introduction 1 Background 1 Objectives of the Research 2 Statement of problem 2 Research Questions 2 Hypothesis 3 Need of the study 3 Limitations of the research 3 Chapter 2 3 Review of Literature 3 Literature Review 3 Theoretical Framework 3 Chapter 3 3 Research Design and Methodology 3 Research Design 3 Description of Population and Samples 3 Instrumentation 3 Data Collection Procedure: 3 Statistical tools used 3 Measurement: Scaling, Reliability and Validity 3 Bibliography 3 Chapter 1 Introduction Background An impulse purchase or impulse buy is an unplanned decision to buy a product or service, made just before a purchase (Wikipedia). Impulse buying is a sudden, compelling, hedonically complex purchase behavior in which the rapidity of the impulse purchase decision precludes any thoughtful, deliberate consideration of alternatives (Kacen, 2002). The speed of purchase decision prevents from any thoughts, considerations and studying other options or alternatives. Rook (1995) defines an impulse buying as follows: when a consumer experiences a sudden, often powerful, and persistent urge to buy something immediately. The impulse to buy is hedonically complex and may stimulate emotional conflict. The research on impulse buying behavior has many practical benefits and by revealing the relative importance of factors affecting the impulse buying behavior, the effective marketing strategies can be proposed to increase the volume of...
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...drive revenue upward while leaving the current prices as set. Kudler Fine Foods is ready to develop changes to increase their revenue . I will discuss in this paper the important elements needed in Kudler Fine Foods goal towards advancement in marketing and the role of using the competitive intelligence tactics. This could include other ways to successfully achieve goals of growth. Marketing Research “Although marketing research isn’t perfect, it seeks to reduce risk and uncertainty to improve decisions made by marketing managers” (Armstrong, , 2011) . Marketing research can help develop new product ideas and offer a fine tuning in slimming down products and services. Businesses use market research t o help determine who will be interested in purchasing their products and services. Marketing research will reach out to a target group of people based on certain feelings, needs, income and age. Mrs. Kudler conducted surveys to reach out to customer and receive feedback in areas of potential improvements. Pointing them in the directions of the company’s ,strengths and weakness seen by current customer. Marketing research will help Kudler to develop a plan to help with the company’s expansion goals. In addition this marketing research allows for Kudler to reach out to new customers, new areas within the market and developing new sales promotions. Kudler Fine Foods conducted a market...
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...Marketing Research, 7/E (Burns/Bush) Chapter 2 The Marketing Research Industry 1) Which of the following professional organizations is devoted to improving the quality of the marketing research industry and to ensuring the future of the marketing research profession? A) AMA (American Marketing Association) B) MRA (Marketing Research Association) C) QRCA (Q Research Council & Association) D) AAPOR (American Association for Public Opinion Research) E) CASRO (Council of American Survey Research Organizations) Answer: B Difficulty: Easy Objective: 1 Question type: Concept Course LO: Define the nature and role of marketing research 2) The marketing research industry has a certification program for marketing researchers, and this certification program is hosted by: A) American Marketing Association. B) Research Certification Board. C) Marketing Research Corporation. D) Marketing Research Association. E) Association of Specialized and Professional Accreditors. Answer: D Difficulty: Easy Objective: 1 Question type: Concept Course LO: Define the nature and role of marketing research 3) What did the Marketing Research Association do in 2005 that changed the credentialing of marketing research professionals? A) They brought a lawsuit against several practitioners who were not qualified to practice marketing research. B) They required all practitioners to take a test on qualitative research methods. C) They created the Professional Researcher Certification...
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...MARKET RESEARCH ASSIGNMENT I TOPIC: MARKET RESEARCH – Need, Tools and Examples ABINAYA NARESH ANANTHAKRISHNAN ANANTHAPADMANABHAN P ARUN PRASANNA A.P ASWIN KUMAR U.K WHAT IS MARKET RESEARCH Market research is any organized effort to gather information about markets or customers. It is the systematic gathering and interpretation of information about individuals or organizations using statistical and analytical methods and techniques of the applied social sciences to gain insight or support decision making. Market research provides important information to identify and analyze the market need, market size and competition. Firms conduct research on a continual basis to maintain a competitive edge and keep up with market trends. Regardless of whether the business is starting or expanding, market research is vital to understanding the target market and increasing sales. NEED FOR MARKET RESEARCH The need for market research arises from the need of information for businesses – information about customer needs, competition, market demand, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment, characterised by frequent: Changes in technology – enabling newer products and new production processes (e.g. switching of screens to OLEDs) Changes in consumer tastes –the demand for some products declines, whilst others will...
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