Science of Information Competency in Marketing
The paper entails the Science of Information Competency in marketing. This will involve matching the marketing techniques and the respective source of information to seek. The second step will entail ranking the techniques in accordance to their relevance. The last step will involve grading the decision tasks. Grading will be in accordance to the accuracy of the information from each technique.
The source of information to seek is represented by letters ‘a’ to ‘g’ as shown below
- In person
- By mail / e-mail
- Online as words
- Online as data
- Online as photo
- Online as video
- Neither option
On the other hand, the marketing techniques to be used are represented in numerical form. The marketing techniques and their respective numerical form are as shown.
- Using available information / secondary data
- Small scale flexible interview
- Large scale flexible interview
- Administering written questionnaires
- Participatory and projective methods
Item 1: Matching the techniques with the respective source of information
|Technique||Source of information to seek|
Item 2: Ranking the techniques in terms of their relevance
The marketing research involves determining the quality level that will lead to customer satisfaction, and hence lead to an increase in customer base. A high quality product leads to customer loyalty. From Levi’s case study, the brand lost significant vitality in the late 1990s. One of the major reasons for the decline in market share was due to an inferior product quality. Hence, conducting a market research on the level of customer satisfaction will help to identify customers’ level of satisfaction. The satisfaction level is determined by the product quality. The following table shows the ranking of the seven techniques in terms of their relevance to the marketing research.
Brief explanation on the ranking
Interviews are flexible. This is because they can be used with both literate and illiterate respondents. Interviews also help the researcher to collect a large quantity of data. There is a high response rate in the case of interviews as compared to the use of questionnaires. Small scale interviews and large scale interviews provide in-depth information regarding the marketing research. The data obtained is also easy to analyze. Interviews are also inexpensive as compared to the other techniques. The interview questions can be easily controlled depending on the type of respondents, whether literate or illiterate.
Administering written questionnaires is also an important method in marketing research. Questionnaires are useful in collecting a large amount of data. In most cases, however, there is a low response rate from the respondents. In addition, there is a likelihood of biasness. Some respondents may give wrong information. Unlike the interview method, use of written questionnaires is not flexible. The questionnaires must have the same type of information. The questionnaires cannot be used on an illiterate population. The limitations highlighted above makes the interview method more superior than administering of written questionnaires method.
Use of secondary data may also assist in carrying out marketing research. This involves relying on the published materials in determining the level of customer satisfaction. However, the method is not flexible. The published materials give general information regarding customer satisfaction. The information may not be applicable in all marketing research scenarios. Participatory and projective methods are not easily controlled. Participatory and projective methods are time consuming. Hence, they may not relevant in carrying out the marketing research on customer satisfaction.
Item 3: Grading the techniques based on their ability to provide factual information
The techniques are graded on an ascending order. The following table provides a synopsis of the techniques and their respective grades.