Professional Documents
Culture Documents
CAPTURING MARKETING
INSIGHTS
Contents to be covered
– Information Systems and Marketing Research
– Analyzing marketing Environment
– Measuring and forecasting demand
– Analysing Consumer Markets and buying behavior
• The buyers decision process
• Major factors influencing buying behavior
• Consumer buying,
Understand
Marketing
Environment
Why
Information Competitio
Is n
Identify
Customer Needed
Needs
Develop
Strategi
c
Planning
2.1 Information Systems & Marketing Research
• Some firms have marketing information systems that
provide rich detail about buyer wants, preferences, and
behavior
Information Internal
Analysis Data
Marketing Marketing
Research Intelligence
Marketing
MarketingEnvironment
Environment
Components of a Modern
Marketing Information System
• The major responsibility for identifying significant
marketplace changes falls to the company’s marketers.
1. Train and motivate the sales force to spot and report new
developments.
• Marketing research
– Is a process
– Use data available from different sources
– Is conducted to aid decision making
– Findings should be communicated to the appropriate decision
maker
What to find out?
• What does the customer need?
• Who is the target audience?
• What is the competition?
• Are there any gaps in the market?
• Would the product be acceptable in the market?
• Why customer traffic is reduced?
• Why is profitability decreased?
• Do our sales have any association with some given variables?
• Which internal or external factor is contributing more?
The Marketing Research Process
Defining
Defining the
the Problem
Problem and
and the
the Research
Research Objectives
Objectives
Developing
Developing the
the Research
Research Plan
Plan
Implementing
Implementing the
the Research
Research Plan
Plan
Interpreting
Interpreting and
and Reporting
Reporting the
the Findings
Findings
2.2. Analyzing The Marketing
Environment
Components of Marketing Environment
• It comprises of:
– The human resources dept.
– The operations dept.
– The accounting and finance dept.
– The research and development dept.
– The information systems dept.
– Others functional and support units in the organization
Cont’d
• Marketing is affected by
– Allocation of authority and responsibilities within the
organization
– Resource availability
• SWOT analysis
• PEST/STEP analysis
• Five forces analysis
I. SWOT analysis
Strengths Internal Like experience in the sector, competitive
. advantage, financial capacity
• What is the business market, and how does it differ from the
consumer market?
• Cultural factors
• Social factors
• Personal factors
• Psychological factors
Factors affecting the buying behaviour
A. Cultural Factors
in
• Tanners sell to shoes manufacturers
cha
• Manufacturers to whole sellers
ply
• Whole sellers to retailers
sup
• Retailers to customers
Purchasing decision Often complex and Decisions can involve long and
process lengthy complex analysis and negotiation