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Amarketing information systeminformationsystem consists of people, equipment, and p ocedu es to gat e , so t, a a y e,rocedurestogather, sort,analyze, evaluate, and distribute needed, timely, and ccu e o o o accurate information to marketing decision makers.
Marketing Management Part 2: Gathering Information and Scanning the Environment & Conducting Co duc g Marketing e g Research ese c and Forecasting Demand Chapter p Gathering Information and S Scanning i the th E Environment i t Content • Modern Marketing Information System • Internal Records and Marketing Intelligence • Analyzing the Macro-environment • The Demographic Environment What is a M k ti Information Marketing I f ti System S t (MIS)? A marketing information system consists of people, equipment, and procedures p ocedu es to gat gather, e , so sort, t, aanalyze, a y e, evaluate, and distribute needed, timely, d accurate ccu e information o o too and marketing decision makers Internal Records and Marketing I t lli Intelligence • • • • Order to payment cycle Order-to-payment Sales information system D t b Databases, warehousing, h i data d t mining i i Marketing intelligence system Steps p to Improve p Marketing g Intelligence g • • • • • • • Train sales force to scan for new developments Motivate channel members to share intelligence Network externally Utilize a customer advisory panel Utili governmentt data Utilize d t sources Collect customer feedback online Purchase h iinformation f i Sources of Competitive p Information • Independent p customer goods g and service review forums • Distributor or sales agent feedback sites • Combination sites offering customer reviews and expert opinions • Customer complaint sites • Public blogs Analyzing the Macro-environment 3.1 Needs and Trends • Fads: "unpredictable, short-lived, and without social economic, social, economic and political significance significance."" • Trends: A trend reveals the shape of the f future andd provides id many opportunities ii • Megatrends: "large social, economic, political and technological changes [that] are slow to form, and once in place, they influence us for some time time— between seven and ten years, or longer." 10 Keys Customer Insights: Robert Shieffer 3.2 Trends Shaping the Business L d Landscape • Profound shifts in centers of economic activity • Increases in public publicsector activity • Change in consumer landscape • Technological connectivity • Scarcity of well-trained talent • Increase in demand for natural resources • Emergence of new global industry structures • Ubiquitous access to information • Management shifts from art to science • Increase in scrutiny of p bigg business practices What are Marketing g Metrics? Marketing metrics are the set of measures that helps marketers quantify, compare, co pa e, aand d interpret te p et marketing a et g performance Table 4.4 Marketing Metrics External Internal • • • • • • • • • • • • • • • • Awareness Market share Relative price Number of complaints Customer satisfaction Distribution Total number of customers • Loyalty Awareness of goals Commitment to goals Active support Resource adequacy Staffing levels Desire to learn Willingness to change Freedom to fail Autonomy Major j Matrix Major j Matrix What is Marketing-Mix g Modeling? g Marketing-mix g models analyze data from a variety of sources, such as retailer scanner data, company shipment data, pricing media pricing, media, and promotion spending data, to understand more precisely the effects of specific marketing activities Build Models of How Market Works Sales Automation Marketing Dashboards • A customer-performance scorecard records how well the company is doing year after year on customer-based measures stakeholder-performance performance scorecard tracks • A stakeholder the satisfaction of various constituencies who have a critical interest in and impact on the company’s ’ performance f iincluding l di employees, l suppliers, banks, distributors, retailers, and stockholders Copyright © 2009 Pearson Education, Inc Publishing as Prentice Hall 4-66 Dash Board Example p Table 4.5 Sample Customer-Performance S Scorecard dM Measures • • • • • • • % of new customers to average # % of lost customers to average # % of win-back customers to average # % of customers in various levels of satisfaction % of customers who would repurchase % of target market members with brand recall % off customers t who h say brand b d is i mostt preferred f d Copyright © 2009 Pearson Education, Inc Publishing as Prentice Hall 4-68 Common Measurement Paths • • • • Customer metrics pathway Unit metrics pathway C h fl metrics Cash-flow t i pathway th Brand metrics pathway Copyright © 2009 Pearson Education, Inc Publishing as Prentice Hall 4-69 The Measures of Market Demand • • • • Potential market Available market T Target t market k t Penetrated market Copyright © 2009 Pearson Education, Inc Publishing as Prentice Hall 4-70 Vocabulary y for Demand Measurement • Market demand (expected): – expand vs non-expandable market; – Market penetration index – Company’s share penetration index • Market forecast • Market potential: – Max market demand – Product penetration • Company demand: is the company's company s estimated share of market demand at alternative levels of company marketing effort in a given time period • Company sales forecast: sales quota, quota sales budget • Company sales potential (vs market potential) How Can We Estimate C Current tD Demand? d? (i) Total market potential: Total market potential is the maximum amount of sales that might be available to all the firms in an industry y duringg a given g period, p under a given g level of industryy marketing effort and environmental conditions (ii) Area market potential • Market buildup method: identifying all the potential buyers in each market and estimating their potential purchases • Multiple-factor Multiple factor index method: using i BDI (Brand (B d Development Index) Estimating g Future Demand • • • • • Survey of Buyers’ Intentions Composite p of Sales Force Opinions p Expert Opinion Past-Sales Analysis Market-Test Method [...]... Avoiding Green Marketing Myopia • Consumer Value Positioning • Calibration of Consumer Knowledge g • Credibility of Product Claims 4.5 Technological g Environment • • • • Pace of change Opportunities for innovation V i R&D budgets Varying b d t Increased regulation of change Macro Trend Tools Chapter 4 Conducting Marketing Research and Forecasting Demand What is Marketing g Research? Marketing research... the systematic design, collection, analysis, and epo t g oof data aand d findings d gs relevant e eva t to reporting a specific marketing situation facing the co p y company Types yp of Marketingg Research Firms • Syndicated service • Custom • Specialty-line S i lt li The Marketing g Research Process Step p 1: Define the Problem • Define the problem • Specify decision alternatives • State research