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Managing Marketing Information to
Managing
Gain Customer Insight

4

Learning Objectives
After studying this chapter, you should be able to:
1. Explain the importance of information to the
company and its understanding of the marketplace
2. Define the marketing information system and
discuss its parts
3. Outline the steps in the marketing research
process
4. Explain how companies analyze and distribute
marketing information
5. Discuss the special issues some marketing
researchers face, including public policy and ethics
4-2

Chapter Outline
1.

Marketing Information and Customer
Insights

2.

Assessing Marketing Information
Needs

3.

Developing Marketing Information

4.

Marketing Research

5.

Analyzing and Using Marketing
Information

6.

Other Marketing Information
Considerations

4-3

Key points
• In order to produce superior customer value and
satisfaction, companies need information almost
every turn.
• With the recent explosion of information
technologies, companies can now generate
information in great quantities.
• Despite the data glut, marketers frequently
complain that they lack enough information of the
right kind.
• The meaning is clear: many companies sit on rich
information but fail to manage and use it well.

4-4

The secret formula of the additional flavorings is known to two executives at Coca-Cola. The original copy of the formula is kept in Atlanta in the SunTrust Bank's vault.
• The prototype Coca-Cola recipe was formulated at
the Eagle Drug and Chemical Company, a drugstore in
Columbus, Georgia, by John Pemberton, originally as
a coca wine called Pemberton's French Wine Coca. In
1886, when Atlanta and Fulton County passed
prohibition legislation, Pemberton responded by
developing Coca-Cola, essentially a nonalcoholic
version of French Wine Coca. The first sales were
at Jacob's Pharmacy in Atlanta, Georgia, on May 8,
1886. It was initially sold as a patent medicine for
five cents a glass at soda fountains, which were
popular in the United States at the time due to the
belief that carbonated water was good for the
health.
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Coca-Cola’ Marketing Blunder
s
• In 1985, marketers thought they were
listening to their target market. They
noticed that they were losing market
share to Pepsi and they conducted taste
tests to develop their new formula.
Coca-Cola fouled up their research. They
• On April 23, 1985, Coca-Cola stopped
producing old Coke The company ignored
focused only on Taste. and created a new Coke
with a sweeter taste. the old Coke.
consumers’
feeling about
• Angry customers panicked, filling their
basements with old Coke and threatening
lawsuits.
Luckily, Coca-Cola Coca-Cola reaction time.
• 3 months later, had quick brought back
the old formula calling it Coca-Cola Clasic.

4-6

Case Study
New Coke
• New Coke
• Product Failure
• Poor sales
• Over 1,500 phone calls a
day from angry
customers
• Old Coke returns in only
3 months

• Was due largely to
Research Failure
• Tested on taste only – not
intangibles
• Decisions based on 60%
ratings
• All for $4 million!

4-7

Marketing Information and Customer Insight
They don’ need more information, they need
t
better information
The real value of marketing research and
marketing information lies in how it is
used-in the customer insights that it
provides
Marketers use the marketing information to
develop important customer insight

4-8

Assessing Marketing Information Needs
Marketing information system (MIS) consists
of people and procedures for assessing
information needs, developing the needed
information, and helping decision makers to
use the information to generate and
validate actionable customer and market
insight
• Assess the information needs
• Develop needed information
• Analyze information
• Distribute information
and use it
4-9

Assessing Marketing
Information Needs

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