1 / 13

Marketing Indicator 1.03

Acquire foundational knowledge of marketing-information management to understand its nature and scope. Marketing Indicator 1.03. Three types of information used in marketing decision making. Customer Marketing mix Business Environment. Customer Information. Age Gender Income

fauna
Télécharger la présentation

Marketing Indicator 1.03

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Acquire foundational knowledge of marketing-information management tounderstand its nature and scope Marketing Indicator 1.03

  2. Three types of information used in marketing decision making • Customer • Marketing mix • Business Environment

  3. Customer Information • Age • Gender • Income • Education • Family size • Home ownership • Address • Occupation • How money is spent • Attitudes • Primary needs • Product purchases • Purchase frequency • Brand preferences • Information needs • Media preferences • Shopping behavior

  4. Marketing Mix • Basic Products • Product Features • Services • Product packaging • Guarantees • Repairs • Credit Choice • Discounts • Promotion Methods

  5. Business Environment • Type of competition • Competitors’ strengths • Competitors’ strategies • Economic conditions • Government regulations • New technology • Consumer protection • Ethical issues • Tax policies • Proposed laws • International markets

  6. Why is Marketing Information Needed? • To identify potential customers, potential products, marketing opportunities, solve marketing problems, implement marketing plans, and monitor marketing performance.

  7. The Impact of Marketing Information on Marketers • Marketing research is used when a business needs to solve problems. • Helps answer questions about what to produce, at what price to sell the products, who will buy the products, and how to promote the products • Helps businesses plan their future operations to increase sales and profits. • Understand markets. • Companies keep track of what happening in current markets.

  8. Ways Marketers Use Marketing Information • Analysis----the process of summarizing, combining, or comparing information so that decisions can be made. • Report • Examples include • Planning a promotional budget. • Effectiveness of one retailer in a channel of distribution. • Costs of marketing activities for national and international activities. • Example: Stouffer’s Lean Cuisine—13 years of market research • Develop product • Test package design • Hold pilot sales in large cities • Track what is happening in current markets • Determine major competitors • What major competitors are offering • Which products consumers prefer • Customer satisfaction with product

  9. Information contained in sales and expense reports that is monitored for marketing decision-making. • Market Share Analysis — the percentage of all sales within a market that is held by one brand / product or company. Normally measured by sales revenue or sales volume (the number of units sold) • Sales Volume Analysis — A detailed study of an organization's sales, in terms of units or revenue, for a specified period. • Accounting Information • Spending • Profitability • Sales • Discount on sale? • What expenses went into each sale? • Cost • Inventory • Payroll • Commission on sale?

  10. Information in reports provided by salespeople that is monitored for use in marketing decision-making. • Request/complaint reports • Lost sales reports • Call reports • Activity reports • Retail audits – measure market sales, competitor’s sales, market share, prices, special offers, stock levels by week or day to day • Product information– types of products that sell best at various times of year; colors or sizes of products customers prefer

  11. Information about customers that is monitored for marketing decision-making. • Demographic data (age, gender, ethnicity) • Buying habits (time of day, repeat products, amount spent—full price or on sale, types of products) • Ex: Diapers and beer purchased by men on Thursdays and Saturdays • Ex: Saturday is day most people do major grocery shopping • Credit record • Job • Income level • Marital status • Customer requests (what products or varieties are requested that you don’t carry) • Receipts (is a certain neighborhood or ZIP code frequenting your establishment more than others)

  12. Explain information about competitors that is monitored for marketing decision-making. • USP’s (unique selling points) of our product vs. competition to find our advantage. Is that advantage sustainable? • Financial records for public companies (GE, Ford, Apple) • Insight into company’s strengths, weaknesses, and future plans (new products, marketing campaigns) • Market share analysis • Sales volume data

  13. Procedures for identifying information to monitor for marketing decision-making. • Identify needed data • Create a plan for collecting, storing and analyzing data • Compile a list of secondary sources providing needed data • Retrieve needed data • Analyze/use data

More Related