Professional Documents
Culture Documents
Marketing Information Systems Marketing Decision Support Systems Market Analysis Competitive Analysis Environmental Scanning Marketing Segmentation, Niches and Micromarketing Consumer Behavior and Decision Processes Organizational Buying Behavior Positioning via Marketing
Set of procedures and sources used by marketing management on a regular and continuing basis to obtain information relevant to marketing planning and strategy
Marketing environment
Test markets Marketing channels Competitors
information
Marketing intelligence
Publics
Marketing
research
Macroenvironment forces
Marketing Research
The systematic design, collection, analysis, and reporting of data and findings relevant to a specific issue or situation involving marketing planning and strategy
Management science, computer-based models through which marketing management gathers and interprets relevant information and uses it to improve marketing actions
Examples
CALLPLAN : optimum number of sales calls
PROMOTER : sales promotion effects measurment
BRANDAID : marketing mix optimizing model
Market Analysis
Key Constructs
Market Target market Market demand Market share Market segment Market behavior
Market
Target Market
The part of the market any given firm seeks to pursue
Market Demand
The scale of the market measured in dollar volume, unit sales, number of customers, or some combination of these factors
Market Share
Sales of one particular firms product divided by total sales of all firms selling that same product
Market Segment
Market Behavior
What, when , where, how, who, and why the market buys
Who makes physical purchase? Who uses the product? Who influences the purchases decision?
Competitive Analysis
1. 2. 3. 4. 5.
Who are our competitors? What are their strategies? What are their objectives? What are their strengths and weaknesses? What are their likely reaction patterns?
Benchmarking
The art of finding out how and why some companies can perform particular tasks much better than other companies Copy or improve upon: Best Practices or Best-in-Class
1) 2) 3) 4) 5) 6) 7)
Determine which tasks to benchmark Stipulate key performance variables to measure Identify the best-in-class companies Measure performance of best-in- class companies Measure your companys performance Specify programs and actions to close the gap Implement and monitor results
Environmental Scanning
Systematic evaluation of major external environmental factors that might affect the short, medium, and long-term marketing plans and strategies of the firm
Market Segmentation
Process of taking a large heterogeneous market and dividing it into smaller submarkets (segments) that are more homogeneous in their buying behaviors
Market Aggregation
The process of taking small diverse market segments and compiling them into a larger market that can be served with more standardized products or marketing mixes
The formulation of the marketing mix to respond to the particular needs of identified market segments
Measurable - operationally identifiable Sustainable - large enough to be profitable Accessible - can be reached and served Differentiable - respond to different appeals Actionable - can strategies be formulated
Very small market segment resulting from fragmentation of mass markets and made feasible for targeting through by mass customization
Marketing by one seller to one buyer
One-to-One Marketing
4. 3. 2. 1.
Esteem needs
(self-esteem, recognition)
Social needs (sense of belonging, love) Safety needs (security, protection) Psychological needs (food, water, shelter)
Buyers decisions Product choice Brand choice Dealer choice Purchase timing Purchase amount
Information search
Evaluation of alternatives Purchase decision Postpurchase behavior
Organizational Interpersonal
Objectives Policies Interests Authority Status Empathy Persuasiveness
Individual
Age Income Business Education Job position Buyer Personality Risk attitudes Culture
Interest rate Rate of techno- Procedures logical change Organizational structures Political and regulatory developments Systems Competitive developments Social responsibility concerns
Organizational Buying
Some Key Distinctions
fewer buyers large buyers close supplier-customer relationship geographically concentrated derived demand inelastic demand (short run) professional purchasing multiple buying influences (buying centers) more direct purchasing
Positioning
Designing an offering and its image so that they occupy a meaningful and distinct place in customers minds relative to competitive products