entp 14ppt
DESCRIPTION
TRANSCRIPT
![Page 1: Entp 14ppt](https://reader033.vdocuments.site/reader033/viewer/2022061217/54b5008f4a795945748b4756/html5/thumbnails/1.jpg)
Entrepreneurship
Session-1422/06/07
![Page 2: Entp 14ppt](https://reader033.vdocuments.site/reader033/viewer/2022061217/54b5008f4a795945748b4756/html5/thumbnails/2.jpg)
Why Marketing Research Is Necessary?
Marketing communications is typically
asked to achieve four things - introduce
a new fact or idea, correct an existing
misconception, reinforce a favorable
opinion or stimulate action.
![Page 3: Entp 14ppt](https://reader033.vdocuments.site/reader033/viewer/2022061217/54b5008f4a795945748b4756/html5/thumbnails/3.jpg)
What Is Marketing Research:
‘Marketing Research’ is the function which links the consumer,customer and public to the marketer through information –
information used to identify and define marketing opportunities and problems;
generate,refine and evaluate marketing actions;monitor marketing performance; actions;
improve understanding of marketing as a process.
![Page 4: Entp 14ppt](https://reader033.vdocuments.site/reader033/viewer/2022061217/54b5008f4a795945748b4756/html5/thumbnails/4.jpg)
Marketing Research can reveal consumer characteristics:
Demographic. Socio-economic. Life-style. Awareness. Behavior (past, present and
intended )
![Page 5: Entp 14ppt](https://reader033.vdocuments.site/reader033/viewer/2022061217/54b5008f4a795945748b4756/html5/thumbnails/5.jpg)
Market research in pre start up phase
Who is the customer? Gender and Age Income Status Occupation and Education Other customer characteristics
![Page 6: Entp 14ppt](https://reader033.vdocuments.site/reader033/viewer/2022061217/54b5008f4a795945748b4756/html5/thumbnails/6.jpg)
Market research in pre start up phase
Where is the market? Market size and changes Segmenting the Market Growth characteristics Sales Forecast
![Page 7: Entp 14ppt](https://reader033.vdocuments.site/reader033/viewer/2022061217/54b5008f4a795945748b4756/html5/thumbnails/7.jpg)
Market research in pre start up phase
Competition Who are the market players? Existing competitors Products or substitutes
![Page 8: Entp 14ppt](https://reader033.vdocuments.site/reader033/viewer/2022061217/54b5008f4a795945748b4756/html5/thumbnails/8.jpg)
Market research in pre start up phase
Distribution How will customers be reached?
![Page 9: Entp 14ppt](https://reader033.vdocuments.site/reader033/viewer/2022061217/54b5008f4a795945748b4756/html5/thumbnails/9.jpg)
Market research in pre start up phase
Sources of market intelligence: Existing competitors Trade publications Securities Analysts Reports Potential customers
![Page 10: Entp 14ppt](https://reader033.vdocuments.site/reader033/viewer/2022061217/54b5008f4a795945748b4756/html5/thumbnails/10.jpg)
The Importance of Information
Companies need information about their: Customer needs Marketing
environment Competition
Marketing managers do not need more information, they need better information.
![Page 11: Entp 14ppt](https://reader033.vdocuments.site/reader033/viewer/2022061217/54b5008f4a795945748b4756/html5/thumbnails/11.jpg)
The Marketing Information System
![Page 12: Entp 14ppt](https://reader033.vdocuments.site/reader033/viewer/2022061217/54b5008f4a795945748b4756/html5/thumbnails/12.jpg)
Developing Marketing Information
Internal Databases: Electronic collections of information obtained from data sources within the company.
Marketing Intelligence: Systematic collection and analysis of publicly available information about competitors and developments in the marketing environment.
Marketing Research: Systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.
![Page 13: Entp 14ppt](https://reader033.vdocuments.site/reader033/viewer/2022061217/54b5008f4a795945748b4756/html5/thumbnails/13.jpg)
Competitive Intelligence:
It is the selection ,collection,interpretation and distribution of publicly-held information that has strategic importance.
![Page 14: Entp 14ppt](https://reader033.vdocuments.site/reader033/viewer/2022061217/54b5008f4a795945748b4756/html5/thumbnails/14.jpg)
Competitive Intelligence:
Competitor intelligence is the analytical process that transforms disaggregated competitor intelligence into relevant, accurate and usable strategic knowledge about competitor performance
It is highly specific and timely information about a corporation.
![Page 15: Entp 14ppt](https://reader033.vdocuments.site/reader033/viewer/2022061217/54b5008f4a795945748b4756/html5/thumbnails/15.jpg)
Competitive Intelligence:
Goals: Detecting competitive threats. Eliminating or lessening
surprises. Enhancing competitive advantage
by lessening reaction time. Finding new opportunities.
![Page 16: Entp 14ppt](https://reader033.vdocuments.site/reader033/viewer/2022061217/54b5008f4a795945748b4756/html5/thumbnails/16.jpg)
From Information to Intelligence
All the information needs to be collated.
The information need to be indexed and catalogued.
It pieces of information to be analyzed and interpreted.
![Page 17: Entp 14ppt](https://reader033.vdocuments.site/reader033/viewer/2022061217/54b5008f4a795945748b4756/html5/thumbnails/17.jpg)
Source: H. I. Ansoff, New Corporate Strategy (New York: Wiley, 1988), p. 109.
Competitive Growth Strategies
![Page 18: Entp 14ppt](https://reader033.vdocuments.site/reader033/viewer/2022061217/54b5008f4a795945748b4756/html5/thumbnails/18.jpg)
Growth Strategies for Business Units
Intensive Growth Growth occurring when current
products and current markets have the potential for increasing sales
Market penetration: increasing sales of current products in current markets
![Page 19: Entp 14ppt](https://reader033.vdocuments.site/reader033/viewer/2022061217/54b5008f4a795945748b4756/html5/thumbnails/19.jpg)
Growth Strategies for Business Units
Market development: increasing sales of current product in new markets
Product development: increasing sales by improving present products or developing new products for current markets
![Page 20: Entp 14ppt](https://reader033.vdocuments.site/reader033/viewer/2022061217/54b5008f4a795945748b4756/html5/thumbnails/20.jpg)
Growth Strategies for Business Units (cont’d)
Diversified Growth Growth occurring when new products
are developed to be sold in new markets Advantage of diversified growth is the
spread of risk across a number of markets
Diversification allows for a wider use of managerial, technical, and financial resources
![Page 21: Entp 14ppt](https://reader033.vdocuments.site/reader033/viewer/2022061217/54b5008f4a795945748b4756/html5/thumbnails/21.jpg)
Growth-Share Matrix Developed by the Boston Consulting Group
Source: Perspectives, No. 66, “The Product Portfolio.” Reprinted by permission from The Boston Consulting Group, Inc., Boston, MA. Copyright © 1970.