marketing lecture 5
TRANSCRIPT
Market Analysis
a tool companies use in order to better understand the environment in which they operate. It is one of the main steps in the development of a marketing plan.
Marketing Information System and Research (MKIS)
“Marketing is the management process responsible for identifying,
anticipating and satisfying customer requirements”.
“Satisfying needs and wants have
developed into a sophisticated activity. As a basic requirement, the marketer must know what his customers want, where they want, what they want, what price they would pay for what they want, and what means they will be persuaded to translate their wants into actual purchases. In addition, the marketer will also have to contend with the activities of his competitors so he may be able to address them.”
Management Information System (MIS)
Consist of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers.
This data is then processed, integrated, and stored in a centralized database (or data warehouse) where it is constantly updated and made available to all who have the authority to access it, in a form that suits their purpose.
Assessing Information Needs
A good marketing information system balances information that managers would like to have against that which they really need and is feasible to obtain. A company begins by interviewing managers to determine their information needs.
Developing Information
can be obtained from:
Internal DataMarketing IntelligenceMarketing Research
Internal Data Marketing managers can easily access the
work with information in the database to identify marketing opportunities and problems, plan marketing projects, and evaluate marketing performance.
Internal databases can be accessed faster and cheaper than other information sources, but they also have some problems. Because it was collected for other purposes, it may be incomplete or in the wrong format.
Internal RecordsAccounting Records – like financial
statements, sales and orders, costs, accounts receivables, and cash flows
Manufacturing Records – like production schedules, shipments, and inventories
Sales Department Records – like salesforce call reports
Customer Service Department Records – like reports on customer satisfaction and warranty problems
Information gathered by other departments
Guest card are often found on dining tables and in guest rooms or are handed to departing customer. They provide useful information and can provide insights into problems areas.
This procedure was developed as a result of a guest’s comment.
with guest
Automated System
Mystery Shoppers
allow the hotels to create close relationship with their customers.
are used in all types of operations. the best way if there is a possibility for recognition and reward on good job performance.
are computerized systems incorporating registers, computers and peripheral equipment, usually on a computer network.
Point-of-Sale Information (POS)
Company Records
one of the most misused source of information.
Marketing Intelligence
Everyday information about developments in the marketing environment that help managers to prepare and adjust marketing plans.
The goal is to improve strategic decision-making, assess and track competitor’s actions, and provide early warning of opportunities and threats.
Marketing IntelligenceDifferent Ways
Undirected Viewing – general exposure to information where the manager has no specific purpose in mind
Conditioned Viewing – directed exposure to information where the manager seeks information on a clearly identified area or type of information
Informal search – relatively limited and unstructured effort to obtain specific information or information for a specific purpose
Formal search – deliberate effort, usually following a pre-established plan, procedure, or methodology, to secure specific information relating to a specific issue
can be gathered by a company’s executives, front desk staff, service staff, purchasing agents, and sales force.Sources of
Competitive Information
available from competitors’ annual reports, trade magazine articles, speeches, press releases, brochures, and advertisements.
Internal Sources of Marketing Intelligence
External Sources of Marketing Intelligence
normally gathered through what is known as desk research. This means sourcing and analyzing published information to build a picture of a market and to try and answer some specific commercial questions such as what is the market potential.
Marketing Research
Involves conducting research to support marketing activities, and the statistical interpretation of data into information.
The task of marketing research is to provide management with relevant, accurate, reliable, valid, and current information.
Marketing Research Process1. Definition of the problem2. Situational analysis3. Obtaining primary data4. Interpretation of data5. Problem solution
Secondary data consist of information already in
existence somewhere, having been collected for another purposes.(company records, libraries, government agencies, private research organization)
At the heart of primary data collection are the acts of : Observing, Measuring, Recording
Primary data consist of information collected for the specific purposes at hand. (observation, survey, experiment)
trained observers interact with and/or observe consumers in their natural habitat.
Ethnographic Research
the gathering of primary data by asking people questions about their knowledge, attitudes, preferences, and buying behavior.
Survey Resear
ch
a segment of a population selected for marketing research to represent the population as a whole.
SampleFour decisions are :
First, who will be surveyed?
Second, how many people should be surveyed?
Third, how should the sample be chosen?
Fourth, when will the survey be given?
the gathering primary data by selecting matched groups of subjects, giving them different treatments, controlling related factors, and checking for differences in group responses.
Experimental Research
- John D. Rockfeller, Jr.
"Every right implies a responsibility; every opportunity an obligation; every
possession a duty."