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Marketing Research

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Title: Marketing Research


1
Marketing Research
  • Aaker, Kumar, Day
  • Ninth Edition
  • Instructors Presentation Slides

2
Chapter Twenty-five
Contemporary Applications of Marketing
Intelligence
3
Competitive Advantage
Michael Porters Five Forces Model
Source http//www.brs-inc.com/porter.asp
4
Assessing Competitive Advantage
Process-based
Market-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
5
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

6
Brand Equity
Source David A. Aaker, Managing Brand
Equity. New York The Free Press, 1994.
7
Measuring Brand Equity
  • Excess- Price Approach
  • Observation
  • Customer Research
  • Trade-off Analysis
  • Impact on Customer Evaluation

8
Measuring Brand Equity (Cont.)
  • Replacement Cost Approach
  • Stock Price Approach
  • Future Earnings Approach
  • Discounting the future profit stream
  • Applying an earnings multiplier

9
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

10
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

11
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

12
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?

13
Total Quality Management (Contd.)
Managing complex change
Source American Productivity Council
14
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

15
Benchmarking (Contd.)
  • Communicate benchmark findings, and gain
    acceptance
  • Establish functional goals
  • Develop action plans
  • Implement specific actions, and monitor progress
  • Recalibrate benchmarks

16
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
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