COLLECTING INFORMATION AND FORECASTING
DEMAND
Marketing Information System (MIS). MIS consists of
people, equipment, and procedures to gather, sort,
analyse, evaluate, and distribute needed, timely, and
accurate information to marketing decision makers. It
relies on internal company records, marketing
intelligence activities, and marketing research.
Internal Records
Order-to-payment cycle
Sales information systems
Marketing
Intelligence
System.
A
marketing
intelligence system is a set of procedures and sources
that managers use to obtain everyday information
about developments in the marketing environment.
The internal records system supplies RESULTS data, but
the
marketing
intelligence
system
supplies
HAPPENINGS data.
Steps in the Marketing Intelligence System
Train and motivate the sales force to spot and
report new developments.
Motivate distributors, retailers, and other
intermediaries to pass along important
intelligence.
Hire external experts to collect intelligence.
Network internally and externally.
Set up a customer advisory panel.
Take advantage of government-related data
resources.
Purchase information from outside research
firms and vendors.
Collecting marketing intelligence on the
Internet.
HOW CAN YOU RESEARCH ON YOUR COMPETITORS
STRENGTHS AND WEAKNESSES ONLINE?
Independent customer goods and service
review forums
Distributor or sales agent feedback sites.
Combo sites offering customer reviews and
expert opinions
Customer complaint sites
Public blogs
Analyzing the Macroenvironment
A FAD is unpredictable, short-lived, and
without
social,
economic,
and
political
significance.
A TREND is more predictable and durable than
a fad; trends reveal the shape of the future and
can provide strategic direction.
A MEGATREND is a large social, economic,
political, and technological change that is slow
to form, and once in place, influences us for
some timebetween seven and ten years, or
longer.
MACROENVIRONMENTAL FORCES
Political
Economic
Social
Technological
Legal
Environmental
Demographic
MICROENVIRONMENTAL FACTORS
The company itself
Suppliers
Marketing intermediaries
Competitors
Customers
Publics
Forecasting and Demand Measurement
The potential market is the set of consumers
with a sufficient level of interest in a market
offer.
The available market is the set of customers
who have interest, income, and access to a
particular offer.
The target market is the part of the qualified
available market the company decides to
pursue.
The penetrated market is the set of
consumers who are buying the companys
product.
A Vocabulary for Demand Measurement
Market demand. The market demand is the
total volume that would be bought by a defined
customer group in a defined geographical area
in a defined time period in a defined marketing
environment under a defined marketing
program.
Market forecast. It is only one level of industry
marketing expenditure that will actually occur.
Market potential. It is the limit approached by
market
demand
as
industry
marketing
expenditures approach infinity for a given
marketing environment.
Company demand. A company demand is the
companys estimated share of market demand
at alternative levels of company marketing
effort in a given time period.
Company sales forecast. The company sales
forecast is the expected level of company
sales based on a chosen marketing plan and an
assumed marketing environment.
Company sales potential. Company sales
potential is the sales limit approached by
company demand as company marketing effort
increases relative to that of competitors.
CONDUCTING MARKETING RESEARCH
The Marketing Research System
Marketing insights provide diagnostic information
about how and why we observe certain effects in the
marketplace, and what that means to marketers.
Total Customer Satisfaction
What is Marketing Research? Marketing research is
the systematic design, collection, analysis, and
reporting of data and findings relevant to specific
marketing situation facing the company.
Satisfaction is a persons feelings of pleasure or
disappointment that result from comparing a products
perceived performance (or outcome) to expectations. If
the performance falls short of expectations, the
customer is dissatisfied. If it matches expectations, the
customer is satisfied.
The Marketing Research Process
Product and Service Quality
1.
2.
3.
4.
5.
6.
Define the problem, the decision alternatives,
and the research objectives
Develop the research plan.
Collect the information.
Analyze the information.
Present the findings.
Make the decision.
CREATING LONG-TERM LOYALTY RELATIONSHIPS
Building Customer Value, Satisfaction, and Loyalty
Quality is the totality of features and characteristics of
a product or service that bear on its ability to satisfy
stated or implied needs.
Maximizing Customer Lifetime Value
A profitable customer is a person, household, or
company that over time yields a revenue stream
exceeding by an acceptable amount the companys
cost stream for attracting, selling, and serving that
customer. (customer profitability analysis and activitybased costing)
Cultivating Customer Relationships
Customer relationship management (CRM) is the
process of carefully managing detailed information
about individual customers and all customer teach
points to maximize loyalty.
Customer Databases and Database Marketing
Customer perceived value (CPV) is the difference
between the prospective customers evaluation of all
the benefits and all the costs of an offering and the
perceived benefits.
Customer database is an organized collection of
comprehensive information about individual customers
or prospects that is current, accessible, and actionable
for lead generation, lead qualification, sale of a product
or service, or maintenance of customer relationships.
Total customer benefit is the perceived monetary
value of the bundle of economic, functional and
psychological benefits customers expect from a given
market offering because of the product, service,
people, and image.
Total customer cost is the perceived bundle of costs
customers expect to incur in evaluating, obtaining,
using, and disposing of the given market offering,
including monetary, time, energy, and psychological
costs.
THE MARKETING FUNNEL
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