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How To Use Marketing Information for Better Decision Making
Course Outline and Schedule
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----- First Day -----
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08:30 AM - 08:45 AM Introduction
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08:45 AM - 10:15 AM Session I
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HOW TO BETTER USE MARKETING RESEARCH FOR DECISION MAKING: Identifying management’s strategic and tactical decision needs and linking the inputs from marketing research to those needs; when to use research and when to do without it; how decision makers can help enhance the effectiveness of marketing research by specifying the decisions to be made, the information needed to make those decisions and agreeing on the action standards linking the two; the role of the marketing research department and the benefits of getting them more closely involved in the decision making process.
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10:15 AM - 10:30 AM Coffee Break
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10:30 AM - 12:00 PM Session II
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WHAT EVERY DECISION MAKER SHOULD KNOW ABOUT MARKETING RESEARCH: The qualitative and quantitative options available to acquire actionable information; their use and abuse; common errors in the interpretation of research results; considerations in evaluating the quality and value of marketing research; how to reduce the cost of research and increase the ROI from research.
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12:00 PM - 01:15 PM Lunch Break
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01:15 PM - 03:00 PM Session III
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SEGMENTATION RESEARCH FOR BETTER DECISION MAKING: The need and implications of understanding customer needs and adapting the marketing mix to specific segments; the bases and the analytical tools used in segmentation research; case studies illustrating the methodology and applications of segmentation research.
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03:00 PM - 03:15 PM Coffee Break
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03:15 PM - 05:00 PM Session IV
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CUSTOMER SATISFACTION RESEARCH FOR BETTER DECISION MAKING: Components of a customer satisfaction monitoring program - discovery, benchmarking, tracking and implementation; the key issues in customer satisfaction research - what to measure, from whom, how to gather the data and how to analyze and interpret it; applying customer satisfaction research results to business decisions.
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----- Second Day -----
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08:30 AM - 10:15 AM Session V
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PRODUCT RESEARCH FOR BETTER DECISION MAKING: Defining the product and the product life cycle; research tools applicable at the various stages in a product’s life cycle . . . research for new products; idea generation procedures, concept testing and concept optimization. Analytical techniques such as conjoint analysis useful in product research. STM’s in new product forecasting.
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10:15 AM - 10:30 AM Coffee Break
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10:30 AM - 12:00 PM Session VI
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POSITIONING RESEARCH FOR BETTER DECISION MAKING: Adapting your position to meet the needs of chosen segments; the methodology and analytical options available in positioning research; repositioning research; comprehensive case studies illustrating the step-by-step procedure.
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12:00 PM - 01:15 PM Lunch Break
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01:15 PM - 03:00 PM Session VII
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ADVERTISING AND PROMOTION RESEARCH FOR BETTER DECISION MAKING: The decisions and the research response; diagnostic and evaluative advertising testing methods; media/audience research for print and broadcast media; proactive claim justification research.
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03:00 PM - 03:15 PM Coffee Break
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03:15 PM - 04:30 PM Session VIII
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PRICING RESEARCH FOR BETTER DECISION MAKING: The decisions involved in choosing the best pricing strategy for a firm; information needed to make informed pricing decisions and how research can help; structured and unstructured approaches and analytical strategies to assess the impact of alternative prices and to help select the optimal price. Price sensitivity measurement, conjoint analysis, discrete choice models and other analytical approaches in pricing research.
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04:30 PM - 04:45 PM Concluding Remarks
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