Session (1) Managing Marketing Information Instructor: Amir Ekhlassi Prologue In 1985 coca-cola made a major marketing blunder. After 99 successful years, it set aside its long standing rule – and dropped its original formula coke! In its place came “new coke” with a sweater, smoother taste. Early success because of publicity and advertising Old cola drinkers Coke classic + new coke (coke II) Lack of marketing research 2 ©Compiled by: Amir Ekhlassi Introduction Increasingly, marketers are viewing information not only as an input for making better decisions but also as an important strategic asset and marketing tool. A company’s information may prove to be its chief competitive advantage Competitors can copy each other’s equipment, products, and procedures, but they cannot duplicate the company’s information and intellectual capital. Vice president of knowledge Vice president of learning Vice president of intellectual capital 3 ©Compiled by: Amir Ekhlassi Marketing Information System (MKIS) MKIS consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers. Form Time 4 ©Compiled by: Amir Ekhlassi The Marketing Information System Marketing Managers and other Information Users Analysis Planning Implementation Organization control Marketing Information System Assessing Information needs 5 Target Markets Internal Database Information Analysis Marketing Intelligence Marketing Research Marketing Environment Marketing Competitors Publics Channels ©Compiled by: Amir Ekhlassi Distributing And using Information MacroEnvironment forces Assessing marketing information needs MKIS primarily serves the company’s marketing and other managers. However, it may also provide information to external partners, such as suppliers or marketing services agencies. (Wal-Mart …P&G) A good MKIS balances the information users would like to have against what they really need and what is feasible to offer. Ex: Dell: Tailored Premium page The company begins by interviewing managers to find out what information they would like. 6 ©Compiled by: Amir Ekhlassi Assessing marketing information needs (cont’d) Sometimes the company cannot provide the needed information, either because it is no available or because of MKIS limitations. Finally, the cost of obtaining, processing, storing, and delivering information can mount quickly. The company must decide whether the benefits of having additional information are worth the costs of providing it, and both value and cost are often hard to assess. By itself, information has no worth; its value comes from its use. 7 ©Compiled by: Amir Ekhlassi Developing Marketing Information Marketers can obtain the needed information from: Internal Data Information analysis Marketing Intelligence Marketing Research 8 ©Compiled by: Amir Ekhlassi 1. Internal Data Internal database: electronic collections of information obtained from data sources within the company. Internal data base usually can be accessed more quickly and cheaply than other information sources, but they also present some problems. Because internal information was collected for other purposes, it may be incomplete or in the wrong form for making marketing decisions. 9 ©Compiled by: Amir Ekhlassi 1. Internal Data Accounting Department Record of sales, costs, and cash flows Manufacturing Department Production schedules, shipments, inventories Sales Force Reseller reactions, competitor activities Marketing Department Customer, psychographics, demographics, buying behavior 10 ©Compiled by: Amir Ekhlassi 1. Internal Data (cont’d) Data ages quickly; keeping the database current requires a major effort. In addition, a large company produces mountains of information, and keeping track of it all is difficult. The database information muse be well integrated and readily accessible through userfriendly interfaces so that managers can find it easily and use it effectively. 11 ©Compiled by: Amir Ekhlassi 1. Internal Data (cont’d) Ex: USAA who provides financial services The company was one of the pioneers of direct marketing and most of its business is conducted over the Internet or telephone using employees instead of agents. Survey 4.3 M customers to update its database (At the end of 2011, there were 8.8 million members) Whether they have children (how old are they) If they have moved recently When they plan to retire Use this database to tailor its marketing offers 12 Compiled by: Amir Ekhlassi 2. Marketing Intelligence Marketing intelligence is systematic collection and analysis of publicly available information about competitors and developments in the marketing environment. The goal of marketing intelligence is To improve strategic decision making Assess and track competitor’s actions Provide early warning of opportunities and threats (leading indicators Vs. lagging indicators) 13 ©Compiled by: Amir Ekhlassi 2. Marketing Intelligence (cont’d) Techniques range from quizzing the company’s own employees and benchmarking competitor’s products to researching the internet, lurking around industry trade shows, and rooting through rival’s trash bins. Much intelligence can be collected from people inside the company – executives, engineers and scientists, purchasing agents, and the sales force. Kodak(Ulysses) Vs. Xerox (total satisfaction guarantee) 14 ©Compiled by: Amir Ekhlassi 2. Marketing Intelligence (cont’d) The company can also obtain important intelligence information from suppliers, resellers, and key customers. Or it can get good information by observing competitors. It can buy and analyze competitors’ products, monitor their sales, check for new patents, and examine various types of physical evidence. One company regularly checks out competitors’ “parking lots”. Garbage snatching: Avon recruited a private detective to rifle Mary Kay’s dumpster 15 ©Compiled by: Amir Ekhlassi 2. Marketing Intelligence (cont’d) Competitors may reveal intelligence information through: Their annual reports Business publications Trade show exhibits Press releases Advertisements Web pages Garbage Competitor’s employees The internet is proving to be a vast new source of competitor- supplied information. Most companies now place volumes of information on their web sites, providing details to attract customers, partners, suppliers, or franchisees. 16 ©Compiled by: Amir Ekhlassi Competitive dynamics (1/3) - Launches Please list expected competitive launch timing based on local intelligence BG meters Data: Lantus BasalPlus Lantus Data: Lantus CV ORIGIN Data: Lyxumia CV ELIXA Lyxumia EU (H2) Lyxumia US (H2) Lantus Off patent EU Lantus U300 Lantus Off patent US Lantus+ lixisenatide Apidra Humalog Off patent US Humalog Off patent EU Byetta (Amylin deal terminates) Humalog Humalog Mix Humalog Mix Off patent US Humalog Mix Off patent EU Dulaglutide GLP-1 Fc LY2963016 glargine Empagliflozin SGLT2 LY2605541 basal insulin Linagliptin +empagliflozin DPP4+SGLT2 Humalog New formulation Tradjenta DPP4 Bydureon EU (Amylin deal terminates) Januvia DPP-4 Merck Others Janmet XR US Merck Onglyza DPP-4 BMS+AZ Syncria OW GLP-1 GSK Data: Januvia CV TECOS Humalog/ NovoRapid®PH20 Canagliflozin SGLT2) J&J Dapagliflozin SGLT2 BMS+AZ Bydureon US (Amylin deal terminated) Halozyme MK-3102 OW DPP-4 Merck Biosimilar HI EU Dongbao Exenatide suspension OW GLP-1 Amylin Juvisync Januvia+ simvastatin Merck Launched 2011 2012 2013 2014 2015 Source: Diabetes Competition Monitor Feb 2012, Competitor Intelligence You can change the competitors info based on your market Current state (H1 2012) Key developments Expectations 2013 FTEs=# Spend= (mDKK) FTEs=# Spend= (mDKK) FTEs=# Spend= (mDKK) 1. Development 1 2. Development 2 3. Development 3 1. Development 1 2. Development 2 3. Development 3 1. Development 1 2. Development 2 3. Development 3 Source: Promotion Monitor, Insights & Forecasting, Global Marketing Others 1. Development 1 2. Development 2 3. Development 3 NOVO NORDISK INSULIN SHARE FTEs: % Spend: % 3. Marketing Research In addition to information about competitor and environmental happenings, marketers often need formal studies of specific situations. Marketing research is the systematic design, collection, analyze, and reporting of data relevant to a specific marketing situation facing an organization. Companies use marketing research in a wide variety of situations. (market potential, customer satisfaction, purchase behavior, pricing effectiveness, etc.) Ex: Bayer : Aleve pain reliever ‘s advertisement Ex: Toshiba: How many people will buy the new notebook? 19 ©Compiled by: Amir Ekhlassi 3. Marketing Research (cont’d) Some large companies have their own research departments that work with marketing managers on marketing research projects. These companies, like their smaller counterparts – frequently hire outside research specialists to consult with management on specific marketing problems and conduct marketing research studies. Sometimes firms simply purchase data collected by outside firms to aid in their decision making. 20 ©Compiled by: Amir Ekhlassi The marketing research process Defining the Problem and Research Objectives 21 Developing the Research plan For collecting Information Implementing the Research plan – Collecting and Analyzing the data ©Compiled by: Amir Ekhlassi Interpreting and Reporting The findings The marketing research process (cont’d) 1. Defining the problem and research objectives: marketing managers and researchers must work closely together to define the problem and agree on the research objectives. The manager best understands the decision for which information is needed; the researcher best understands marketing research and how to obtain the information. (management dilemma) Defining the problem and research objectives is often the hardest step in the research process. 22 ©Compiled by: Amir Ekhlassi The marketing research process (cont’d) Defining problems accurately is a combination of data and judgment that demands real thought and effort. A problem is a gap between that was supposed to happen and what did happen between our objective and our accomplishment. 3 elements are required to recognize a problem: Something must be expected to happen Feedback must be received on what actually happens Expectations and feedback must be compared The manager needs to make certain that the real problem is being addressed. Sometimes the recognized problem is only a symptom, or perhaps merely a part of a larger problem. 23 © Compiled by: Amir Ekhlassi The marketing research process (cont’d) Careful problem definition would have avoided the cost and delay of doing advertising research. A marketing research project might have one of three types of objectives: The objective of exploratory research is to gather preliminary information that will help define the problem and suggest hypothesis. The objective of descriptive research is to describe things, such as the market potential for a product or the demographics and attitudes of consumers who buy the product. The objective of causal research is to test hypothesis about cause-and-effect relationships. John Stewart Mill Spurious Dependence , Lurking variable , Management judgment 24 ©Compiled by: Amir Ekhlassi The marketing research process (cont’d) Managers often start with exploratory research and later follow with descriptive or causal research. The statement of the problem and research objectives guides the entire research process. Purpose of the research must be determined Expected results must be determined 25 ©Compiled by: Amir Ekhlassi The marketing research process (cont’d) 2. Developing the research plan: researchers must determine the exact information needed, develop a plan for gathering it efficiently, and present the plan to management. The research plan outlines sources of existing data and spells out the specific research approaches, contact methods, sampling plans, and instruments that researchers will use to gather new data. Research objectives must be translated into specific information needs. Ex: Campbell: Bowl shaped Vs. Former red & White packaging) 26 ©Compiled by: Amir Ekhlassi 27 Compiled by: Amir Ekhlassi The marketing research process (cont’d) The research plan should be presented in a written proposal. A written proposal especially important when the research project is large and complex or when an outside firm carries it out. The proposal should cover the management problems addressed and the research objectives, the information to be obtained, and the way the results will help management decision making. The proposal also should include research costs. 28 ©Compiled by: Amir Ekhlassi Basic Contents of a proposal Executive Summary Research purpose and objective Management Problem Research Question(s) Research Design Sample Size Data collection method Statistical analysis Questionnaire format Sample selection procedures Time and Cost Estimates Total fees Payments provisions Treatment of contingencies The schedule for submission Appendixes 29 © Compiled by: Amir Ekhlassi The marketing research process (cont’d) To meet the manager’s information needs, the research plan can call for gathering secondary data, primary data, or both. Secondary data consist of information that already exists somewhere, having been collected for another purpose. Primary data consist of information collected for the specific purpose at hand. 30 ©Compiled by: Amir Ekhlassi The marketing research process (cont’d) Researchers usually start by gathering secondary data. the 31 company’s internal database provides a good starting point. External information sources, including commercial data services and government sources. Companies can buy secondary data reports from outside suppliers. (Yankelovich Reports) Using commercial online databases, marketing researchers can conduct their own searches of secondary data sources. (CompuServe, LEXIS-NEXIS, Dialog) Almost every industry association, government agency, business publication, and news medium offers free information to those tenacious enough to find their web sites. There are so many web sites offering data that finding the right ones can become an almost overwhelming task. ©Compiled by: Amir Ekhlassi Secondary Data Sources 1. Internal Sources of Secondary Data 2. Published sources of secondary data Government publications Periodical and journals Publicly available reports 32 Compiled by: Amir Ekhlassi Internal Sources of Secondary Data A company's internal records, accounting and control systems, provide the most basic data on marketing inputs and the resulting outcomes. 33 ©Compiled by: Amir Ekhlassi Internal Sources of Secondary Data(cont’d) New developments in IT that tie customers more tightly to suppliers are improving the timeliness and depth of the sales information available to managers. Accounting systems are designed to satisfy many different information needs. The reporting formats frequently are rigid and inappropriate for marketing decisions. Often the accounting data are too highly aggregated into summary results and are not available for key managerial units: customer types, product types Another problem is the quality of the data found in the internal records. 34 ©Compiled by: Amir Ekhlassi Internal Sources of Secondary Data(cont’d) Complaint letters are being used as sources of data on product quality and service problems. Complaint letters, however, present an incomplete and distorted pictures. People who write such letters are not typical clients or customers. They are more likely to be highly educated, articulate, and fussy, with more than average amounts of free time. Customer data base can also be used to find out about customers’ product preferences, form of payment, and so on. These customer data bases are now being used extensively by marketing managers for formulation relationship marketing strategies. 35 ©Compiled by: Amir Ekhlassi Published sources of secondary data The major published sources are: Government publications Periodical and journals Publicly available reports from such private groups as foundations, publishers, trade associations, unions, and companies. Of all these sources, the most valuable data for the marketing research come from government census information and various registration requirements: Births Deaths Marriages Income tax returns Unemployment records Export declarations Automobile registrations 36 ©Compiled by: Amir Ekhlassi The marketing research process (cont’d) Secondary data can usually be obtained more quickly and at a lower cost than primary data. Also, secondary sources sometimes can provide data an individual company cannot collect on its own- information that either is not directly available or would be too expensive to collect. Secondary data can also present problems. The needed information may not exist- researchers can rarely obtain all the data they need from secondary sources. 37 ©Compiled by: Amir Ekhlassi The marketing research process (cont’d) The researcher must evaluate secondary information carefully to make certain it is: Relevant (fits research project needs) Accurate (reliably collected and reported) Current (up-to-date enough for current decisions) Impartial (objectively collected and reported) Just as researchers must carefully evaluate the quality of secondary information, they also must take great care when collecting primary data to make sure that it will be relevant, accurate, current, and unbiased. 38 ©Compiled by: Amir Ekhlassi The marketing research process (cont’d) Applications of Secondary Data Demand Estimation Monitoring the Environment Segmenting and Targeting Developing a Business Intelligence Systems 39 © Compiled by: Amir Ekhlassi Application of Secondary Data Demand Estimation Demand estimation is a key determinant of the allocation of resources. Demands can be estimated from secondary data by the methods: 1. 40 Direct data methods: are based on a desegregation of total industry data. The sales information may come from government sources, industry surveys, or trade associations. Corollary data methods: one solution to the absence of industry sales data for each territory is to use another variable that is (1) available for each sales territory or region and (2) correlated highly with the sales of the product. © Compiled by: Amir Ekhlassi Application of Secondary Data 2. Monitoring the Environment Monitoring the environment is very crucial these days, because it is highly volatile, and because attitudes, fashions, and fads change so often. To keep abreast of all the latest developments, a company has to be in constant touch with newspapers, general magazines, and periodicals. It has to know all the latest legislation and laws that may affect it. 41 © Compiled by: Amir Ekhlassi Application of Secondary Data 3. Segmentation and Targeting Effective segmentation demands that firms group their customers into relatively homogeneous groups. The North American Industry Classification System(NAICS)and Dun’s Market Identifiers (DMI) are used by companies selling industrial goods to segment their markets. One of the latest developments with regard to segmentation for consumer products is geocoding, or a cluster demographic system, which identifies groups of consumers who share demographic and lifestyle characteristics. The PRIZM system is based on evidence that people with similar cultural backgrounds and circumstances will gravitate naturally toward one another. 42 © Compiled by: Amir Ekhlassi Application of Secondary Data 4. Developing a Business Intelligence System A business intelligence system is basically a system that contains data on the environment and the competitors. Both primary and secondary data form a part of the business intelligence system. Data on the environment can be obtained from a variety of sources. Data on competitors can be obtained from their annual reports, press releases, patents, and so on. 43 © Compiled by: Amir Ekhlassi The marketing research process (cont’d) Designing a plan for primary data collection calls for a number of decisions on: Research approaches Observation Survey experiment Contact methods Sampling plan Research instruments 44 ©Compiled by: Amir Ekhlassi The marketing research process (cont’d) Planning primary data collection Research Approaches Contact Methods Sampling Plan Research Instruments Observation Mail Sampling unit Questionnaire Survey Telephone Sample size Mechanical instruments Experiment Personal Sampling procedure Online 45 ©Compiled by: Amir Ekhlassi The marketing research process (cont’d) Research approach: research approaches for gathering primary data include: Observation Survey Experiments Observational research involves gathering primary data by observing relevant people, actions, and situations. Many companies collect data through mechanical observation via machine or computer. Other companies use checkout scanners to record shoppers’ purchases so that manufacturers and retailers can assess product sales and store performance. Nielsen Media: People meters 46 Steelcase: Modular office unit; Personal Harbor ©Compiled by: Amir Ekhlassi The marketing research process (cont’d) Observational research can obtain information that people are unwilling or unable to provide. In contrast, some things simply cannot be observed, such as feelings, attitudes, and motives, or private behavior. Long-term or infrequent behavior is also difficult to observe. Because of these limitations, researchers often use observation along with other data collection methods. 47 ©Compiled by: Amir Ekhlassi The marketing research process (cont’d) Survey research, the most widely used method for primary data collection, is the approach best suited for gathering descriptive information. A company that wants to know about people’s knowledge, attitudes, preferences, or buying behavior can often find out by asking them directly. Some firms provide marketers with a more comprehensive look at buying patterns through single-source data systems. These systems combine surveys of huge consumer panels- carefully selected groups of consumers who agree to participate in ongoing research – and electronic monitoring of respondents’ purchases and exposure to various marketing activities in an effort to better understand the link between consumer characteristics, attitudes, and purchase behavior. 48 ©Compiled by: Amir Ekhlassi The marketing research process (cont’d) The major advantage of survey research is its flexibility - it can 49 be used to obtain many different kinds of information in many different situations. However survey also presents some problems: sometimes people are unable to answer survey questions because they cannot remember or have never thought about what they do and why. People may be unwilling to respond to unknown interviewers or about things they consider private. Respondents may answer survey questions even when they do not know the answer in order to appear smarter or more informed. Or they may try to help the interviewer by giving pleasing answers. (social approval) Finally, busy people may not take the time, or they might resent the intrusion into their privacy. ©Compiled by: Amir Ekhlassi The marketing research process (cont’d) Whereas observation is best suited for exploratory research and surveys for descriptive research. Experimental research is best suited for gathering causal information. Experiments involve selecting matched groups of subjects, giving them different treatments, controlling unrelated factors, and checking for differences in group responses. Thus, experimental research tries to explain cause-and-effect relationships. Ex: McDonald, New sandwich price , same marketing offer 50 ©Compiled by: Amir Ekhlassi The marketing research process (cont’d) Contact methods: information can be collected by mail, telephone, personal interview, or online. Mail questionnaires can be used to collect large amounts of information at a low cost per respondent. Respondents may give more honest answers to more personal questions on a mail questionnaire than to an unknown interviewer in person or over the phone. Also, no interviewer is involved to bias the respondent’s answers. 51 ©Compiled by: Amir Ekhlassi The marketing research process (cont’d) However, mail questionnaire are not very flexible – all respondents answer the same questions in a fixed order. Mail surveys usually take longer to complete, and the response rate is often very low. Finally, the researcher often has little control over the mail questionnaire sample. Even with a good mailing list, it is hard to control who at the mailing address fills out the questionnaire. 52 ©Compiled by: Amir Ekhlassi The marketing research process (cont’d) Telephone interviewing is the one of the best methods for gathering information quickly, and it provides greater flexibility than mail questionnaire. Interviewers can explain quickly, and it provides greater flexibility than mail questionnaires. Interviewers can explain difficult questions and, depending on the answers they receive, skip some questions or probe on others. Response rates tend to be higher than with mail questionnaires, and interviewers can ask to speak to respondents with the desired characteristic or even by name. 53 ©Compiled by: Amir Ekhlassi The marketing research process (cont’d) However, with telephone interviewing, the cost per respondent is higher than with mail questionnaires. Also, people may not want to discuss personal questions with an interviewer. The method also introduces interviewer bias – the way interviewers talk, how they ask questions, and other differences may affect respondents’ answers. Finally, different interviewers may interpret and record responses differently, and under time pressures some interviewers might even cheat by recording answers without asking questions. 54 ©Compiled by: Amir Ekhlassi The marketing research process (cont’d) Personal interviewing takes two forms: Individual Group Individual interviewing involves talking with people in their homes or offices, on the street, or in shopping malls. Such interviewing is flexible. Trained interviewers can guide interviews, explain difficult questions, and explore issues as the situation requires. They can show subjects actual products, advertisements, or packages and observe reactions and behavior. However, individual personal interviews may cost three to four times as much as telephone interviews. 55 ©Compiled by: Amir Ekhlassi The marketing research process (cont’d) Group interviewing consists of inviting six to ten people to talk with a trained moderator about a product, service, or organization. Participants normally are paid a small sum for attending. The moderator encourages free and easy discussion, hoping that group interactions will bring out actual feelings and thoughts. At the same time, the moderator “focuses” the discussion – hence the name focus group interviewing. 56 ©Compiled by: Amir Ekhlassi The marketing research process (cont’d) Focus group interviewing has become one of the major 57 marketing research tools for gaining insight into consumer thoughts and feelings. However, focus group studies usually employ small sample sizes to keep time and costs down, and it may be hard to generalize from the results. Another form of interviewing is computer-assisted interviewing, a contact method in which respondents sit at computers, read questions on the screen, and type in their own answers while an interviewer is present. The computers might be located at a research center, trade show, shopping mall, or retail location. Increasingly, marketing researchers are collecting primary data through online (internet) marketing research – internet surveys, experiments, and online focus groups. ©Compiled by: Amir Ekhlassi The marketing research process (cont’d) Strengths and Weaknesses of Contact Methods Mail Telephone Personal Online Flexibility Poor Good Excellent Good Quantity of data that can be collected Good Fair Excellent Good Excellent Fair Poor Fair Control of sample Fair Excellent Fair Poor Speed of data collection Poor Excellent Good Excellent Response rate Fair Good Good Good Good Fair Poor Excellent Control of interviewer effects Cost 58 ©Compiled by: Amir Ekhlassi The marketing research process (cont’d) Sampling plan: a sample is a segment of the population selected to represent the population as a whole. Ideally, the sample should be representative so that the researcher can make accurate estimates of the thoughts and behaviors of the larger population. 59 ©Compiled by: Amir Ekhlassi The marketing research process (cont’d) Designing the sample requires three decisions: First, who is to be surveyed. (what sampling unit) Second, how many people should be surveyed. (what sample size? Usually 1% is ok) Third, how should the people in the sample be chosen (what sampling procedure) When probability sampling costs too much or takes too much time, marketing researchers often take nonprobability samples, even though their sampling error cannot be measured. 60 ©Compiled by: Amir Ekhlassi The marketing research process (cont’d) Research instruments: in collecting primary data, marketing researchers have a choice of two main research instruments: The questionnaire Mechanical device The questionnaire is by far the most common instrument, whether administered in person, by phone, or online. 61 ©Compiled by: Amir Ekhlassi The marketing research process (cont’d) Questionnaires are very flexible – there are many ways to ask questions. Close-end questions include all the possible answers, and subjects make choices among them. (like multiple-choice and scale questions) Open-end questions allow respondent to answer in their own words. Open-end questions often reveal more than close-end questions because respondents are not limited in their answers. Open-end questions are especially useful in exploratory research, when the researcher is trying to find out what people think but not measuring how many people think in a certain way. Close-end questions, on the other hand, provide answers that are easier to interpret and tabulate. 62 ©Compiled by: Amir Ekhlassi The marketing research process (cont’d) Researchers should also use care in the wording and ordering of questions. (simple, direct, unbiased, logical order) Although questionnaires are the most common research instrument, mechanical instruments such as people meters and supermarket scanner are also used. Also, some mechanical instruments measure physical response: Galvanometer Eye Tracking 63 ©Compiled by: Amir Ekhlassi The marketing research process (cont’d) 3. Implementing the research plan: this involves collecting, processing, and analyzing the information. The data collection phase of the marketing research process is generally the most expensive and the most subject to error. 64 ©Compiled by: Amir Ekhlassi The marketing research process (cont’d) 4. Interpreting and reporting the findings: the researcher should not try to overwhelm managers with numbers and fancy statistical techniques. Rather, the researcher should present important findings that are useful in the major decisions faced by management. However, interpretation should not be left only to the researchers. They are often experts in research design and statistics, but the marketing manager knows more about the problem and the decisions that must be made. Thus, managers and researchers must work together closely when interpreting research results, and both must share responsibility for the research process and resulting decisions. 65 ©Compiled by: Amir Ekhlassi Using Marketing Information Information must be distributed to the right people at the right time. Routine information for decision making. Non-routine information for special situations. Intranets – protected information websites for internal people. Extranets – protected information websites for partners and external stakeholders. 66 ©Compiled by: Amir Ekhlassi Research Issues Small businesses and non-profit organizations lack research resources. International marketing information can be difficult and costly to obtain. Competitive information often difficult to obtain ethically. Public policy issues. Intrusions on consumer privacy. Misuse of research findings. 67 ©Compiled by: Amir Ekhlassi Thank You for Your Patient and Attention 68