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Marketing Indicator 1.03

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Acquire foundational knowledge of marketing-information management to understand its nature and scope. Marketing Indicator 1.03. Vocabulary. Facts Estimates Predictions Marketing Information Relationships Request and Complaint Reports Lost Sales Reports Call Report Activity Report.

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Marketing Indicator 1.03

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

  2. Vocabulary • Facts • Estimates • Predictions • Marketing Information • Relationships • Request and Complaint Reports • Lost Sales Reports • Call Report • Activity Report

  3. Vocabulary • Facts -something that actually exists; reality; truth • Estimates - an approximate judgment or calculation • Predictions -a forecast of something to happen • Marketing Information - data collected from internal sources, external sources or marketing research • Relationships • Request and Complaint Reports - A record of customers and the product(s) that they requested, along with records of complaints made by customers. • Lost Sales Reports • Call Report - records of sales people’s meeting or contact with customers • Activity Report - reports requiring salespeople to provide details (such as number of calls made, new accounts opened, displays arranged, dealer sales meetings attended and so on) as a measure of their activity in a given period.

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

  5. 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

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

  7. 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

  8. Why is Marketing Information Needed? • To identify potential customers, potential products, marketing opportunities, solve marketing problems, implement marketing plans, and monitor marketing performance. http://www.youtube.com/watch?v=0qgFTQ8zu3g&feature=related http://www.youtube.com/watch?v=ZYDbFTai0iE&feature=fvsr

  9. Group Activity

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