introduction to marketing bangor transfer abroad programme pgdm marketing decision-making and...

Introduction to MarketingIntroduction to Marketing

Bangor Transfer Abroad ProgrammeBangor Transfer Abroad ProgrammePGDM

Marketing Decision-Making and Marketing Decisions


Bangor Transfer Abroad ProgrammeBangor Transfer Abroad Programme

The Knowledge AgeThe Knowledge Age Huge volumes of information now availableHuge volumes of information now available

Managers need to be selective and systematicManagers need to be selective and systematic

As data is drawn from multiple sources, needs As data is drawn from multiple sources, needs to be combined and analysed for it to be of to be combined and analysed for it to be of valuevalue



Decision levels in Decision levels in organisationsorganisations

StrategicStrategic

Operational

TacticalTactical

Marketing mix decisions

Customer service levels Competitive responses Campaigns

Business direction Market decisions Investment decisions New product development Positioning



Information processingInformation processing

DATA INFORMATION INTELLIGENCE

Input Output/input Output

Valueadded

Valueadded

UninformedMinimum costTotal uncertainty

InformedMaximum cost

Less uncertainty

Source: Hines



Typical applications for Typical applications for marketing researchmarketing research

Market analysisMarket analysis

New product/service developmentNew product/service development

Selection of brand names and packagingSelection of brand names and packaging

Pricing decisionsPricing decisions

Advertising and promotion decisionsAdvertising and promotion decisions

Sales decisionsSales decisions

Service support and complaint handling decisionsService support and complaint handling decisions



Typical data requirements:Typical data requirements:Market analysisMarket analysis

Market sizeMarket size Market profitabilityMarket profitability Market growth trendsMarket growth trends Main products in the marketMain products in the market Customer attitudes and buying behavioursCustomer attitudes and buying behaviours Major competitors and market sharesMajor competitors and market shares Distribution patternsDistribution patterns Marketing strategies used in the marketMarketing strategies used in the market



Typical data requirements:Typical data requirements:Product researchProduct research

New products

Gap between current products &

perception

Consumerresearch

Research from international markets

Competitor research

Long range economic studies

Satisfaction levels and trends with current products

Source: Hines



Typical data requirements:Typical data requirements:Pricing decisionsPricing decisions

Competitor product pricesCompetitor product prices

Consumer attitudes to price Consumer attitudes to price what would they expect to pay? what would they expect to pay? what would they be prepared to paywhat would they be prepared to pay

Cost/price/volume - what quantities are likely to sell atCost/price/volume - what quantities are likely to sell at

different price levels?different price levels?



Typical data requirements:Typical data requirements:Advertising and promotionAdvertising and promotion

Size of potential marketSize of potential market

Demographic characteristics of usersDemographic characteristics of users

Demographic profiles of segmentsDemographic profiles of segments

Behaviours and attitudes of different segmentsBehaviours and attitudes of different segments

Language used by customers in talking about productLanguage used by customers in talking about product

Share of mind compared with competitorsShare of mind compared with competitors



Typical data requirements:Typical data requirements:Sales decisionsSales decisions

Sales territoriesSales territories

Sales personnel efficiencySales personnel efficiency

Sales statisticsSales statistics

Sales forecastsSales forecasts

Sales incentivesSales incentives

Distributor policyDistributor policy


Bangor Transfer Abroad ProgrammeBangor Transfer Abroad ProgrammeSharda University Business School

Summary

• Marketing Research generates data and

analysis for Marketing Decisions

• Four types of decision area:

- Market Research

- Product Policy Research

- Pricing Research

- Communications Research



SummarySummary

Primary objective of researcher is to Primary objective of researcher is to provide:provide:

- TimelyTimely- AccurateAccurate- RelevantRelevant

Data and analysis to Marketing Data and analysis to Marketing

ManagementManagement

Key word is ‘Robust”Key word is ‘Robust”



Secondary Data SourcesSecondary Data Sources



Generating DataGenerating DataData is generated in 2 basic ways:

Secondary data:

Data already existing – may have been collected for other purposes

+ / -+ / -

Primary data:

Original data – collected for a specific purpose



Secondary DataSecondary Data

Secondary data is information that has been previously gathered for some purpose other than the current research project



Uses of secondary dataUses of secondary data Helps to clarify research requirementsHelps to clarify research requirements

Answers some of the research needsAnswers some of the research needs

Enables more insightful interpretation of primary Enables more insightful interpretation of primary datadata

Provides comparative dataProvides comparative data

Provides information that cannot be obtained Provides information that cannot be obtained through primary researchthrough primary research



Benefits of secondary dataBenefits of secondary data FasterFaster

Less expensive to collectLess expensive to collect

Internet can be used, increasing Internet can be used, increasing speed furtherspeed further



Limitations of secondary Limitations of secondary datadata

AvailabilityAvailability

ApplicabilityApplicability

AccuracyAccuracy

ComparabilityComparability



Internal Secondary Research Internal Secondary Research SourcesSources

Sales figuresSales figures Operational data – stock levels, etcOperational data – stock levels, etc Customer satisfaction resultsCustomer satisfaction results Advertising spendAdvertising spend Customer complaints recordsCustomer complaints records Effectiveness data from promotionalEffectiveness data from promotional campaignscampaigns Marketing research reports from Marketing research reports from past studiespast studies



External Secondary Research External Secondary Research SourcesSources

Internet – single search engines, and Internet – single search engines, and multiple search enginesmultiple search engines

DirectoriesDirectories Country informationCountry information Published marketing research reportsPublished marketing research reports News sourcesNews sources Newsgroups and discussion listsNewsgroups and discussion lists



The Marketing Information SystemThe Marketing Information System (MkIS) (MkIS)

“ “A system within an organisation A system within an organisation

that supplies information and that supplies information and communication services and communication services and resources to meet marketing decision-resources to meet marketing decision-making needs.”making needs.”

(CIM)(CIM)



The marketing information system The marketing information system (MkIS)(MkIS)

Marketingintelligenc

e

Marketingresearch

Internalrecords

Informationanalysis

Marketingenvironment

• Target markets

• Marketing channels

• Competitors

• Publics

• Macro-environment forces

Marketingmanagers

• Analysis

• Planning

• Implementation

• Organisation

• Control

Developing information

Distributinginformation

Assessinginformation

needs

Marketing information system

Marketing decisions and communications Source: Kotler et al

introduction to marketing bangor transfer abroad programme pgdm marketing decision-making and...

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