Marketing Research

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Marketing Research

• Aaker, Kumar, Day
• Ninth Edition
• Instructors Presentation Slides

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Chapter Twenty-five
Contemporary Applications of Marketing
Intelligence
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Competitive Advantage
Michael Porters Five Forces Model
Source http//www.brs-inc.com/porter.asp
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Assessing Competitive Advantage
Market-based Process-based
Market share Marketing skills audit
Recall share Comparison of relative costs
Advertising share Comparison of winning versus losing competitors
RD share Identifying high-leverage phenomena
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Brand Equity

• Defined as a set of brand assets and liabilities
  linked to a brand, its name and symbol, that add
  or subtract from the value provided by the
  product
• The Assets Are
• Brand Loyalty
• Name Awareness
• Perceived Quality
• Brand Associations
• Other Proprietary Brand Assets

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Brand Equity (Contd.)
Source David A. Aaker, Managing Brand
Equity. New York The Free Press, 1994.
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Measuring Brand Equity

• Excess-Price Approach
• Observation
• Customer Research
• Trade-off Analysis
• Impact on Customer Evaluation

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Measuring Brand Equity (Contd.)

• Replacement Cost Approach
• Stock Price Approach
• Future Earnings Approach
• Discounting the future profit stream
• Applying an earnings multiplier

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Customer Satisfaction Research

• Customer satisfaction research should be done at
  planned intervals so as to track satisfaction
  over time
• Measurement Process
• Define goals and specify how information will be
  used
• Discover what is important to customers and
  employees
• Measure critical needs
• Act on the information
• Measure performance over time

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Total Quality Management

• The process of managing complex change in the
  organization with the aim of quality improvement

• Characteristics of an organization that has
  successfully implemented TQM
• Continuous training and education of everyone in
  the organization
• Establishment of quantifiable measures of
  progress
• Formation of cross functional teams that are
  empowered and motivated
• Use of formal tools, techniques to maintain
  quality

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Total Quality Management (Contd.)

• Information Requirements
• Measurement must be specific
• Track the correct measure
• Measure the outputs of the highest value to the
  customer
• Measure process and results
• Anticipate future customer and process
  requirements

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Total Quality Management (Contd.)

• Analysis of Data in a TQM Company
• Who performs the analysis?
• What analytical techniques are used?
• Which data are analyzed and at what level of
  detail?
• How are data aggregated, and how are relations
  between data groups cross-referenced?
• How does the company improve its analytical
  capabilities?

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Total Quality Management (Contd.)
Managing complex change
Source American Productivity Council
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Benchmarking

• Identify what is to be benchmarked
• Identify comparative companies
• Determine data collection method, and collect
  data
• Determine current performance levels
• Project future performance levels

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Benchmarking (Contd.)

• Communicate benchmark findings, and gain
  acceptance
• Establish functional goals
• Develop action plans
• Implement specific actions, and monitor progress
• Recalibrate benchmarks

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Buyer-centricity

• Provide services that help customers make
  informed decisions on buying better and cheaper
  products more easily
• Help buyers to buy rather than help sellers to
  sell
• Help consumers maximize the efficiency,
  productivity, and marketable value of personal
  assets as money, time, information, attention and
  emotional commitment
• Present offerings relevant to the buyers unique
  individual characteristics and that recognize
  what customers currently seek to achieve