- Develop written responses for the following Questions and Problems from page 194 in the textbook: Q&P 4, 8, 10, 11 and 12. (Note: You may want to refer to the U. S. Statistical Abstract, the Census Bureau website, and resources available at the UT Library Web site.)
- In your own words, explain why a decision support system (DSS) can add to the value of a marketing information system. Give an example of how a decision support system might help.
Decision support system (DSS) has been integrated by marketing managers to ensure that information found in the marketing information system is correctly interpreted. It provides more exceptional details from which the manager can quickly come up with decisions based on the marketing strategies that they could employ to ensure the success of the business. For instance, an integrated marketing dashboard might show most customers on hold which will make the manager call in more staff to pick up their calls.
- How is the situation analysis different from the data collection step? Can both these steps be done at the same time to obtain answers sooner? Is this wise?
Situation analysis is the step whereby the manager tries to find the causal factor of the problem that is in the business. In most cases, it involves proper scrutiny of the marketing information system (MIS) to dig dipper on the reasons for a decline in a profitability aspect of the business. Through the process, the reasons for the problem might be directly the same data collected for the next step. Both steps can be done at the same time, and it ensures, that answers are gotten as early as possible.
- With so much secondary information now available free or at low cost over the Internet, why would a firm ever want to spend the money to do primary research?
The difference between the two source of obtaining data and importance of one over the other is the fact that secondary data are mostly related to general issues that affect the business. There are the issues which run across most of the companies and do not cut down into specific problems that a company is facing. The primary data is always essential since the managers are in a position to solve the current issues that face a company.
- If a firm were interested in estimating the distribution of income in the state of California, how could it proceed? Be specific.
The firm should look into the United States census bureau statistics and find out the total population of California State. Income distribution, in this case, will refer to an economy which is usually calculated by dividing the gross domestic product of the state by the total population which is found in the data. Gross domestic product refers to the value of all goods and services that are produced in the state in that particular year.
- Develop written responses to the Online Toolkit exercises found in Chapter 7 on page 180 and page 183 using the required format.
Online toolkit pg. 180
The activity tracker with the most favorable sentiment is Fitbit with 16, and the one with the most negative opinion have a tie of 2 that runs in all of them. The ratio of positive to negative sentiment of Acer liquid leap stands at 7:2 while that of Fitbit is 16:2 and the one for Garmin Vivo smart are 6:2. Garmin Vivo smart negative sentiment is based on a review from a customer about the lousy quality of the hybrid watch. Negative opinion on the Fitbit is a concern that questions whether the Samsung gear 2 is worth. The client brings a concern that 200 dollars might be a lot of money to purchase it. Lastly about the Acer liquid leap the main negative sentiment is based on the limited availability of the product. Through an analysis of the measure of strength, sentiment, passion and reach based on Fitbit analyses it is clear that the information could be used by the marketing manager to ensure that the product awareness is extended and production of more competitive products to increases its competitive advantage.
Online toolkit pg. 183
The most important thing about the use of survey monkey to conduct the survey is the fact that they people can fill the questions asked at their own convenient time and place. It will only require them to have internet access for that to happen. The other import thing is the fact that most of the people who will complete the questionnaire are learned and are in a position to provide credible information to be used by the researcher. However, most of the questionnaires are not finished. The respondent rate which is the number of people who respond is meager. Most of the research problems that are tackled by an online survey such as the survey monkey is the customer satisfaction in business among others.
- Develop written responses to the Ethical Dilemma found on page 191.
As a marketing manager, I will ensure that the respondents are taken back to the question and have a proper understanding of the issue. After that, I will ask them to answer the question afresh to ensure that the research questions can be accounted for. Through this, it will provide that I get information from the respondents of the most critical reasons for the research. The data will be so fundamental for the salesperson to deduce the strategies that might have been brought forward.
- Develop written responses for the Assignment 7 Application Exercise found in the Assignment 7 Folder.
Ms. Perez tried the searches given in the example above, but each search has returned a report with hundreds of links. To help narrow things down for an initial look, she has decided to try to find only marketing plans that reference the SiLube brand.
Search Term: ‘marketing plan’ SiLube
Explanation: the search above will open all sites that will relate to marketing plans that the SiLube brand has used. The key word is starting with the marketing plan then the name of the brand.
Ms. Perez was talking with another manager about trying to improve the new-product development process for SiLube brands. Her colleague said, “I got a flyer on a new-product development conference that’s going to be San Antonio, or maybe it was Dallas, next month. It might be a good place to get ideas. But, I don’t remember the details about the conference, and unfortunately, I threw the flyer away.”
Search Term: SiLube ‘product development.’
Explanation: the search should find all pages on the internet that has any information about SiLube product development. It should not only see pages that concern products development of other goods but should be just about the SiLube brand.
Jacob Mann is the marketing manager for a biotech startup firm that is developing a new medicine for treatment of respiratory disorders. Its first product is showing promising results in first stage clinical trials with patients, but it will be some time before the firm will be able to get approval from the Food and Drug Administration to release the drug. Mann has learned from a contact at the American Lung Association that another firm, United Therapeutics, is working on several products in the same area. Mann is interested in finding out anything he can about United Therapeutics or its LungRx subsidiary.
Search Term: United Therapeutics ‘LungRX subsidiary.’
.Explanation: the search term will ensure that Mann can find all the information that relates to a lungRx subsidiary in the United Therapeutics. It will involve all the activities that have been undertaken based on the lungRx subsidiary.
Greta Cheney is evaluating the market for various types of household appliances and wants to see if there is Census Bureau data available on the Internet for how many households have microwave ovens, air conditioners, trash compactors, and dishwashers.
Search Term: census bureau ‘household’s appliances’
Explanation: the search word will ensure that Greta is provided with information based on any census data that relates to household appliances which are ovens, microwaves among others
Ira DeBerry is the sales manager for Midwest Ford, a large Ford dealership with facilities in some cities. In the past, the Ford Taurus was one of the firm’s best-selling models, but since the Taurus was redesigned and the list price was raised, sales have been slow. DeBerry’s salespeople have complained that they keep losing sales to the Toyota Camry. DeBerry wants to prepare a sales kit to give his sales reps a lot more information about the Taurus, including information based on what favorable product reviews have said. He did an initial search of the Internet to look for automobile reviews. His search on the word Taurus produced many thousands of links, but as he started reviewing the links in detail he found that most of them were to web pages concerned with astrology (where Taurus was usually referenced as one of the astrological “signs.”)
Search Term: Ford Taurus ‘automobile review.’
Explanation: when DeBerry clicks the search word above it will directly take him to sites that are related to the reviews of the automobile where he wants information from. The links will be based on what people and manufacturers have said before about the vehicle but not about the astrological sign
DeBerry (case above) has decided to refine his search to see if he can find Web pages that discuss both the Taurus and the Camry and that discuss crash tests.
Search Term: Taurus and Camry automobile ‘crash test.’
Explanation: the above term will ensure that DeBerry gets the information about the crash test of the two motor vehicles but not any other information apart from that.