Use of marketing intelligence to increase the business performance.
Retail business deals with selling different products through physical location in physical location like stores and increase their sales through the bill board ads, newspaper and TV while e commerce business do not have a physical location where customers can go (Armstrong, Kotler, Harker & Brennan, 2015). Customers go to the website where they make an order and add products in a virtual shopping cart which is later mailed to them. The happenings are online from advertising through the email and social media to the sale. The study of the research is to identify the effect of integration and use of marketing intelligence in increasing the business performance in Lazada e commerce business and Isetan a retail business.
Marketing intelligence is the information that is analyzed and gathered by the company for purpose of confident and accurate decision making in order to determine the market penetration strategy, the market opportunity and the market development metrics.
Lazada and Isetan business use marketing intelligence by setting up a customer advisory team. The team is a panel of customers where they discuss about their satisfaction, the marketing intelligence can be used by motivating and training the workforce. (Lazada marketing strategy, 2017) Where the sales of a company force can be a source of information about the trends in the market, Lazada and Isetan business.
Therefore, unused of marketing intelligence will cause a reduction in a sale where the business will lose the ability to attract the perfect customer as all customers shop different way in the e-commerce and retail businesses in Singapore( Landy & Conte, 2016). The facing problem for this business is products returns and refunds due to customer dissatisfaction. It brings loss to the company where there is an extra cost of the shipment. The business is faced with lack of customer support systems. The business should be able to notice the complaints brought by the customers if not it is tarnishing the image. Customer loyalty is another problem where there is no quality customer service and there is no quality delivery of the products and goods. Thus this study will be able to identify the effect of integration and use of intelligence in increasing the business performance of Lazada and Isetan in Singapore.
A research design is a method or a procedure that will be used in analyzing and gathering data on the variables on the research problem (Creswell & Creswell, 2017). The fuction of research design is to help in identifying the research problem clearly and describe the methods for the analysis appropriate for the data. There are various types of design which are classified according to the degree of problem, method of data collection, purpose of study and the number of contacts with the study population.
Descriptive research design aims at describing the current situation of the research as it is at the moment. Researcher does not have the control over the variables they only report what is happening and being observed this type of design can be used to measure frequency, attitudes and people. Therefore this research design can be used in determining how integration and use of customer intelligence can increase the business performance.
Correlational research design is used in determining the relationship between two or more variables. The researcher does not to manipulate the variables but to determine the relationship and how one variable affects the other variable.
Qualitative research design relies on qualitative data where data is collected from themes and ideas, the data is not based on quantities where it is collected of a few study units by used of structured and un structured questionnaires. Quantitative research design is where researcher collects data from a large number of study units and the analysis is done statistically. This type of design relies on the proportion and aggregate values and other quantitative measures (Silverman, 2015).
Case study research design is where data is collected from a few study unions .It helps in exploration of issues or a study environment in identifying the level of the case. For example country level, individual, business and organizational level (Yin, 2017).
The aim of the study is to identify the effect of integration and use of market intelligence on increasing business performance. Therefore quantitative research design will be used to collect data. Where the values will be derived from the internal records of the business. This research is suitable for the question on how customer satisfaction can increase business performance. Because the customer satisfaction and performance can be evaluated by a few people through the questionnaire’s. Data will be collected using the questionnaires which will be given to the employees of the Lazada to answer the relevant information and questions (Sekaran & Bougie, 2016)
A variable is a concept that indicates different variations within a given set of objects (Petrov, 2012). There are different types of variables that give a relationship between each other. Independent variable is the one that the researcher chooses to study for the purpose of accessing the effect of one or more variables and how it influences the other variable. Dependent variable is the variable of primary interest to the researcher.
The independent variable for this research is integration and use of marketing intelligence while the dependent variable is business performance
The topic of the study is the effect of integration and use of market intelligence to increase business performance.
|
Market intelligence |
Customer support systems |
|
Internal record system |
No of reports taken in a year |
|
Market research system |
No of data taken from the situation |
|
Marketing decision support analysis |
Customer royalty and retention |
|
Performance |
Return on equity |
Internal record system is the information system that records the sales, prices cost, payables and receivables where managers can be able to rate the problems facing the business in order to improve business performance.
Marketing research system id the analysis of a problem facing a business which provides enough information about the problem (Hair Jr & Lukas, 2014).
Marketing decision supporting analysis is the collection of tools and software the business gathers to help in the improvement the business environment therefore helping in improving the performance.
Sampling is the process by which a few samples are selected from the sampling population in order to estimate the prevalence of unknown information. This study will aim at using purposive sampling procedure where a sample is handpicked by the researcher (Levy & Lemeshow, 2013). The sample size will involve the customers and the providers of business and the managers. Where both will be the respondents to the research questions. The manager is required to give information on how they use marketing intelligence to improve the business performance. The sampling will be conducted by rejecting the individuals who did not fit for the sample and the technique that will be used is the maximum variation in order to examine diverse case relevant to the event to allow the researcher gain a lot of insight. This method is cost-effective compared to other sampling methods, therefore, the sample size of the research will be 20 employees of Lazada business and 20 employees from Isetan business because the data will be quantitative and the questionnaires will be used. Therefore a regression analysis will be used to determine the relationship between the independent and dependent variable.
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Where: ???????????? = Return on assets, which is the ratio of net income to total assets
???? = Constant term
????1, ????2, ????3, ????4 = Coefficients to the regression model
????1 = integration and marketing intelligence
????2 = internal record system
????3 = market research system
????4 = marketing decision support analysis
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Ethics are a set of principles of right conduct that guide the responsible conduct of research. In this research, the principle that guides in the ethics is that no harm should befall on respondents and the informed consent should not be coerced (Slade & Prinsloo, 2013). The participants will be given a chance to express their willingness to participate in the research and the information given by the respondent will not be shared with other people it will be anonymous and confidential. The researcher should not be biased as it is considered unethical to attempt by hiding or highlight disproportionately true existence.
The research used the appropriate research methodology by using unbiased sample and a valid instrument, therefore, a right conclusion. The reporting of the finding will be unethical if the findings are incorrect and the researcher uses them for their own interest. The inappropriate of the information from the research design and the sampling used when it affects the respondents directly or indirectly or indirectly it will be considered to be unethical (Gravetter & Forzano, 2018). The unethical ways can be solved by being honest to the respondents and being satisfied with the information provided the researcher should be unbiased through getting information from the respondents.
References
Armstrong, G., Kotler, P., Harker, M., & Brennan, R. (2015). Marketing: an introduction. Pearson Education.
Creswell, J. W., & Creswell, J. D. (2017). Research design: Qualitative, quantitative, and mixed methods approaches. Sage publications.
Gravetter, F. J., & Forzano, L. A. B. (2018). Research methods for the behavioral sciences. Cengage Learning.
Hair Jr, J. F., & Lukas, B. (2014). Marketing research (Vol. 2). McGraw-Hill Education Australia.
Landy, F. J., & Conte, J. M. (2016). Work in the 21st century, Binder ready version: An introduction to Industrial and Organizational Psychology. John Wiley & Sons.
Lazada marketing strategy. (2017). Retrieved from https://ecomeye.com/lazada-marketing-strategy-market-share/
Levy, P. S., & Lemeshow, S. (2013). Sampling of populations: methods and applications. John Wiley & Sons.
Petrov, V. V. (2012). Sums of independent random variables (Vol. 82). Springer Science & Business Media.
Sekaran, U., & Bougie, R. (2016). Research methods for business: A skill building approach. John Wiley & Sons.
Silverman, D. (2015). Interpreting qualitative data. Sage.
Slade, S., & Prinsloo, P. (2013). Learning analytics: Ethical issues and dilemmas. American Behavioral Scientist, 57(10), 1510-1529.
Yin, R. K. (2017). Case study research and applications: Design and methods. Sage publications
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