MAR4613 Chapter 5 Notes

MAR4613 Marketing Management Chapter 5 Decision Support Systems: Introduction Marketing Research Process Once the problem has been defined, the next step is to determine whether the information needed to solve it already exists. Exhibit 2.1 The Marketing Research Process Information Reporting Secondary Data Data that have already been collected, often for some other purpose or by some other organization. Primary Data Information collected specifically for the investigation at hand. What is the Statistical Abstrast? MAR4613 Marketing Management Chapter 5 Decision Support Systems: Introduction The Balancing Act with Secondary Duta ADVANTAGES TIME COST FIT ACCURACY DISADVANTAGES Assessing the Accuracy of Secondary Data (1) Primacy of Source Primary Source: the originating source of secondary data. Secondary Source: a source of secondary data that did not originate the data but rather secured them from another source. (2) Sponsor of the Research Advocacy Research: research conducted to support a position rather than to find the truth about an issue. (3) Evidence of Quality Look for evidence that the researchers did a competent job. This usually means that they will have provided enough details about how the research was conducted. If they didn't... be careful! Traditional Types of Internal Secondary Data Transaction Data For example, B2B sales invoices, retail receipts, online transactions, shopping card data Customer Communications For example, inquiries, complaints via telephone, online, mail, in-person Marketing Research Tracking Studies For example, satisfaction, awareness, image studies Other Sources For example, call reports, expense receipts, customer records, financial records, credit memos, warranty cards MAR4613 Marketing Management Chapter 5 Decision Support Systems: Introduction The Evolution & Design of Information Systema MARKETING INFORMATION SYSTEM (MIS) A set of procedures and methods for the regular, planned collection, analysis, and presentation of information for use in making marketing decisions. DECISION SUPPORT SYSTEM (DSS) A system that combines data, models for guiding decision, and a user interface that allows users to interact with the system to produce customized information. CUSTOMER RELATIONSHIP MANAGEMENT (CRM) A system that gathers all relevant information about a company's customers and makes it available to the employees that interact with the customers. Components of a Decision Support System Dufog Spritem Model Syttem Data System The part of a decision support system that includes the processes used to capture and the methods used to store data coming from various external and internal sources is the creation of a database. Das System Model System Dialog System Model Syam Dolog System The part of a decision support system. that includes all the routines that allow the user to manipulate the data so as to conduct the kind of analysis the individual desires. It is the collection of analytical tools to interpret the database. formation MAR4613 Marketing Management Chapter 5 Decision Support Systems: Introduction The part of a decision support system that includes all the routines that allow the user to manipulate the data so as to conduct the kind of analysis the individual desires. It is the collection of analytical tools to interpret the database. Data System Dialog System Modul System Chief Information Officer KNOWLEDGE MANAGEMENT The systematic collection of employee knowledge about customers, products and processes, and the marketplace. Limitations of the Systems Approach Managers won't always share their decision-making processes Differing data needs across managers Time costs Monetary costs Data availability-analysis is limited to the data that are in the system