Marketing Information

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Management Information for Marketing Decisions

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When did you last do Marketing Research ? And what was that about?

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Common-Wealth Games  What

do these mean to Marketer?  What will Delhi be at that time?  What should you be looking forward to ?  What opportunities for –  Telecom  Health

services  Travel and transportation  Media and Ads Agency  Any

threat to anyone? 4

Some common Marketing Issues  Are

my customers satisfied?  How is my current product doing?  How long it is going to last?  What new products can I do and when?  Is my price too high? Too low?  Is everything in order with my ad campaign?  How is competition reacting?  Anything more that my channel can do?  And many more ….. 5

Information Reduces Uncertainty

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The Role of Marketing Research in Strategic Planning 7

Marketing Information

Marketing Strategy Planning Process

Strategic Decision-Making External Market Environment

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Marketing Management Marketing: Planning and executing the 4 P’s in order to satisfy the business enterprise and its customers. Management: Getting the right goods and services, to the right people, at the right place and time, with the right price, through the right blend of promotional techniques. 9

Why Marketing Information Marketing information systems

Marketing Decision Making

Marketing research

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Marketing research is the systematic and objective What is  identification Marketin  collection g  analysis  dissemination Research  and use of information ? for the purpose of improving decision making related to the  identification and  solution of problems and opportunities in marketing.

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Sources of Information Information needed by managers can be obtained from: Internal Data

Computerized collection of information from data sources (i.e. Accounting) within the company.

Marketing Intelligence

Collection and analysis of publicly available information about competitors and the Marketing environment

Marketing Research

Design, collection, analysis, and reporting of data about a specific marketing situation facing the organization. 12

The Marketing Information System

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Redefining Marketing Research Used to identify and define market opportunities and problems Generate, refine, and evaluate marketing performance Monitor marketing performance Improve understanding of marketing as a process 15

Stages In Developing And Implementing A Marketing Strategy  Identifying

and evaluating opportunities

 Analyzing

market segments and selecting target markets

 Planning

and implementing a marketing mix

 Analyzing

market performance 16

Strategic Marketing Planning: Situation Analysis In situation analysis, marketing research helps to:  Locate and identify new market opportunities for a company.  Identify groups of customers who possess similar needs, characteristics and preferences.  Identify existing and potential competitors’ strengths and weaknesses.

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Marketing Research SEGMENTATION RESEARCH

 Determine the basis of segmentation  Establish market potential and responsiveness for various segments  Select target markets  Create lifestyle profiles: demography, media, and product image characteristics 18

Planning Marketing Mix PRODUCT RESEARCH

Two categories of Studies relating to products : 2. Customer Satisfaction Studies 3. Used to pinpoint pros and cons in a firm’s marketing mix 19

Planning Marketing Mix PRODUCT RESEARCH

Test concept  Determine optimal product design  Package tests  Product modification  Brand positioning and repositioning  Test marketing 20

Planning Marketing Mix  

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PRODUCT RESEARCH To isolate and articulate the nature of consumer attitudes Development and exploring new segments and Dropping poorly performing products Service Quality Studies Measure the “gap” between what’s expected and what’s delivered in terms of “quality” Focuses on the most important attributes to the customer

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Planning Marketing Mix PROMOTIONAL RESEARCH

Marketing research methods used to acquire information about the performance of a promotional program must consider:  Advertising Effectiveness  Attitudinal Research  Sales Tracking 22

Planning Marketing Mix PROMOTIONAL RESEARCH 

Optimal promotional budget

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Sales-promotion relationship

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Optimal promotional mix

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Copy decisions

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Media decisions

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Creative advertising testing

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Evaluation of advertising effectiveness

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Claim substantiation

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Planning Marketing Mix PRICING RESEARCH “How much does it cost?... I’ll buy it!” Establishing and modifying prices leads us to ask:  How large is the demand potential within the target market?  How sensitive is demand to changes in price levels?  What non-price factors are important to customers?  What are the sales forecasts at various prices levels? 24

Planning Marketing Mix PRICING RESEARCH

$ALE

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Pricing policies

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Importance of price in brand selection

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Product line pricing

Initiating and responding to price changes

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Planning Marketing Mix DISTRIBUTION RESEARCH

Determine…  Types of distribution  Attitudes of channel members  Intensity of wholesale & resale coverage  Channel margins  Location of retail and wholesale outlets

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Performance-monitoring Research  Research

that regularly provides feedback for evaluation and control  Indicates things are or are not going as planned  Research may be required to explain why something “went wrong” 27

Target Marketing and Marketing Strategy Target Market Design Characteristi Key Variables to Measure cs Demographics Age, gender,, income, religion, occupation, family size and geographic location Psychographics Product usage Brand preferences Decision process

Consumer activities, interests, and opinions Occasion (special use, gift); situation (climate, time of day, place); and usage context (heavy, medium, or light) Level of brand loyalty, salient product attributes, and product/brand awareness Size and frequency of purchase; propensity to purchase; risk of purchase (high, medium, 28 low); and product involvement

Analyzing Marketing Performance: Strategy Implementation & Control captures and provides information

required to implement strategy and make long-range plans for the future. It utilizes a “system” made up of the following three components:  Product Analysis  Environmental Forecasting  A Marketing Decision Support System (MDSS) 29