INFORMATION
ANALYSIS IN
MARKETING
RESEARCH
SEM2 1.07
1.07 Understands tools, strategies, and systems needed to access, process, maintain,
evaluate, and disseminate information to assist business decision-making.
HOW DO BUSINESSES USE DATABASES FOR ANALYSIS?
1.
OBTAIN A VARIETY OF INFORMATION
2.
INTERPRET IT ACCURATELY TO ANSWER SPECIFIC
MARKETING QUESTIONS.
3.
MANIPULATE THE DATA TO OBTAIN THE ANSWERS
THEY WANT.
NOTE - THIS PRACTICE WILL NOT HELP THEM SOLVE PROBLEMS
OR MAKE GOOD DECISIONS IF THEY INTERPRET THE DATA
INACCURATELY.
SEM2 1.07 Information Technology Analysis in Marketing Research
MARKETING RESEARCH
A TOOL COMPANIES USE TO MARKET THEIR BUSINESS
VIDEO
http://www.youtube.com/watch?v=I117c2kIe14
THIS IS JUST ONE EXAMPLE OF MARKETING RESEARCH COMPANIES USING TECHNOLOGY
TO ANALYZE CUSTOMER DATA FOR OTHER BUSINESSES
Businesses use customer profiles and buying behaviors to find
the best ways to market its goods and services to their target
market. They use a customer database and/or hire a
marketing research agency to:
1. IDENTIFY SPECIFIC CUSTOMER CHARACTERISTICS
2. FIND A CORRELATION WITHIN CUSTOMER DATA
Psychographic + Demographics
Know the Value of Your Business – Video
https://www.youtube.com/watch?v=DdWjHV35nHI#t=158
CORRELATION OF DATA
What does the data have in common?
Bar Graph Chart
Line Graph Chart
Pie Chart
When looking at a
bar graph, the bar
that is the tallest bar
shows the most
correlation
(affiliation) of data
When looking at a
line graph, the lines
that cross show a
direct correlation
(affiliation) of data
When looking at a pie
graph, the biggest
piece of the pie
shows the most
correlation
(affiliation) of data
WHY USE DATABASE – INFORMATION TECHNOLOGY RESEARCH?
1. TO IDENTIFY FANS/CUSTOMERS WHO HAVE PURCHASED IN THE LAST
SIX MONTHS.
2. TO IDENTIFY THOSE WITH MULTIPLE PURCHASES.
3. TO IDENTIFY THOSE WHO HAVE PURCHASED
MORE THAN $100 OF THE SPORT/EVENT PRODUCT.
4. TO CREATE A LIST OF CUSTOMERS WHOSE NAMES/ACCOUNTS
APPEARED ON REPORTS/LISTS
Data is static – it does NOT change. Related data are linked together rather than
being grouped together in folders.