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Introduction to MarketingIntroduction to Marketing
Bangor Transfer Abroad ProgrammeBangor Transfer Abroad ProgrammePGDM
Marketing Decision-Making and Marketing Decisions
Introduction to MarketingIntroduction to Marketing
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
Introduction to MarketingIntroduction to Marketing
Bangor Transfer Abroad ProgrammeBangor Transfer Abroad Programme
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
Introduction to MarketingIntroduction to Marketing
Bangor Transfer Abroad ProgrammeBangor Transfer Abroad Programme
Information processingInformation processing
DATA INFORMATION INTELLIGENCE
Input Output/input Output
Valueadded
Valueadded
UninformedMinimum costTotal uncertainty
InformedMaximum cost
Less uncertainty
Source: Hines
Introduction to MarketingIntroduction to Marketing
Bangor Transfer Abroad ProgrammeBangor Transfer Abroad Programme
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
Introduction to MarketingIntroduction to Marketing
Bangor Transfer Abroad ProgrammeBangor Transfer Abroad Programme
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
Introduction to MarketingIntroduction to Marketing
Bangor Transfer Abroad ProgrammeBangor Transfer Abroad Programme
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
Introduction to MarketingIntroduction to Marketing
Bangor Transfer Abroad ProgrammeBangor Transfer Abroad Programme
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?
Introduction to MarketingIntroduction to Marketing
Bangor Transfer Abroad ProgrammeBangor Transfer Abroad Programme
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
Introduction to MarketingIntroduction to Marketing
Bangor Transfer Abroad ProgrammeBangor Transfer Abroad Programme
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
Introduction to MarketingIntroduction to Marketing
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
Introduction to MarketingIntroduction to Marketing
Bangor Transfer Abroad ProgrammeBangor Transfer Abroad Programme
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”
Introduction to MarketingIntroduction to Marketing
Bangor Transfer Abroad ProgrammeBangor Transfer Abroad Programme
Secondary Data SourcesSecondary Data Sources
Introduction to MarketingIntroduction to Marketing
Bangor Transfer Abroad ProgrammeBangor Transfer Abroad Programme
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
Introduction to MarketingIntroduction to Marketing
Bangor Transfer Abroad ProgrammeBangor Transfer Abroad Programme
Introduction to MarketingIntroduction to Marketing
Bangor Transfer Abroad ProgrammeBangor Transfer Abroad Programme
Secondary DataSecondary Data
Secondary data is information that has been previously gathered for some purpose other than the current research project
Introduction to MarketingIntroduction to Marketing
Bangor Transfer Abroad ProgrammeBangor Transfer Abroad Programme
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
Introduction to MarketingIntroduction to Marketing
Bangor Transfer Abroad ProgrammeBangor Transfer Abroad Programme
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
Introduction to MarketingIntroduction to Marketing
Bangor Transfer Abroad ProgrammeBangor Transfer Abroad Programme
Limitations of secondary Limitations of secondary datadata
AvailabilityAvailability
ApplicabilityApplicability
AccuracyAccuracy
ComparabilityComparability
Introduction to MarketingIntroduction to Marketing
Bangor Transfer Abroad ProgrammeBangor Transfer Abroad Programme
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
Introduction to MarketingIntroduction to Marketing
Bangor Transfer Abroad ProgrammeBangor Transfer Abroad Programme
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
Introduction to MarketingIntroduction to Marketing
Bangor Transfer Abroad ProgrammeBangor Transfer Abroad Programme
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)
Introduction to MarketingIntroduction to Marketing
Bangor Transfer Abroad ProgrammeBangor Transfer Abroad Programme
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
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