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This document provides an outline for a presentation on marketing environment and marketing information. It will discuss key concepts including the macro and micro marketing environment, forces that influence the environment like economic, technological, social and political factors. It will also cover the marketing information system and how companies assess, develop, analyze and distribute marketing information through environmental scanning and marketing research. The goal is to familiarize the audience with important marketing concepts and how understanding the external forces and internal information can help companies make better marketing decisions.
This document provides an outline for a presentation on marketing environment and marketing information. It will discuss key concepts including the macro and micro marketing environment, forces that influence the environment like economic, technological, social and political factors. It will also cover the marketing information system and how companies assess, develop, analyze and distribute marketing information through environmental scanning and marketing research. The goal is to familiarize the audience with important marketing concepts and how understanding the external forces and internal information can help companies make better marketing decisions.
This document provides an outline for a presentation on marketing environment and marketing information. It will discuss key concepts including the macro and micro marketing environment, forces that influence the environment like economic, technological, social and political factors. It will also cover the marketing information system and how companies assess, develop, analyze and distribute marketing information through environmental scanning and marketing research. The goal is to familiarize the audience with important marketing concepts and how understanding the external forces and internal information can help companies make better marketing decisions.
kjansari1@yahoo.com 03002265808 October 04, 2013 An Overview of the Subject Marketing Environment and Marketing Information Why market environment is importance Macro-environment forces how they may affect marketing Microenvironment forces that affect the companys ability to serve its customers Components of the marketing environment Topic Outline Environmental scanning and techniques / tools used Companys microenvironment Impact of the technological environment on a firms marketing activities Social-cultural environment influences marketing. Key changes that occur in the political and cultural environments Importance of environmental scanning and analysis Topic Outline (contd..) Environmental scanning provides information about social, economic, technological, competitive, and regulatory forces. Social forces such as demographics and culture and economic forces such as macroeconomic conditions and consumer income affect marketing. Technological changes can affect marketing. Forms of competition that exist in a market, key components of competition, and the impact of competition on corporate structures Laws, government regulations, and regulatory agencies affect marketing Explore effects of new technology on society and on marketing Topic Outline (contd..) Importance of information to the company and its understanding of the marketplace The marketing information system and discuss its parts The steps in the marketing research process How companies analyze and distribute marketing information Topic Outline - Marketing Information The special issues some marketing researchers face, including public policy and ethics Assessing Marketing Information Needs Developing Marketing Information Marketing Research Analyzing Marketing Information Distributing and Using Marketing Information Other Marketing Information Considerations
Topic Outline - Marketing Information (contd..) It is hopeless to tell a river to stop running; the best thing is to learn how to swim in the direction it is flowing. -Anonymous Core marketing concepts Services Marketing
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Marketing Environment Marketing Information
Discussed
Marketing, Market Place, Customer needs, Marketing Strategies, Customer Relationships etc. Marketing Environment The Marketing Environment The forces that directly and indirectly influence an organizations capability to undertake its business.
The trading forces operating in a market place over which a business has no direct control ,but which shape the manner in which the business function and is able to satisfy its customers. Importance of Marketing Environment Why is the marketing environment of any concern? Why market? To create and maintain profitable customers
A companys marketing environment consists of the actors and forces outside marketing (the marketing department) that affect a companys ability to build and maintain successful relationships with its target customers.
Appraise ones position in the market Awareness of trends within the market Decide if changes need to be made Why do Environmental Analysis? Question: So, what do we hope to learn from environmental analysis?
Answer: Why do Environmental Analysis? What is it? Macro-Environment consists of the larger societal forces that affect the entire microenvironment Microenvironment consists of actors close to the company that affect its ability to serve its customers
The Marketing Environment MACRO ENVIRONMENT
Broad forces which shape the character of opportunities and threats.
MICRO ENVIRONMENT
The factors in the immediate environment .
Indirect external forces that have a general impact on our organization and on marketing decisions
Uncontrollable elements in the external environment create opportunities and threats for a firms marketing mix The macro-environment Levels of External Forces Macro Level Influences that affect all firms Micro Level Influences that affect a particular firm
External Environment Product Place Promotion Price The Companys Macroenvironment Competitive Environment Demographic Environment Natural (Ecological) Environment Economic Environment Technological Environment Political (Regulatory impact) Environment Cultural Environment The macro-environment Economic Environment Local, national and international variations in disposable wealth variations in the local population increased leisure time
In marketing we are looking for indicators of economic health and the level of economic development (prospects) consider where most hotel groups are looking at developing into...
The macro-environment Technological Environment new materials (eg meat substitutes, hybrid cars - alternatives etc) computers / internet (eg online reservation systems, automated check-in, room keys/cards etc) equipment and methods (eg microwave ovens, cook chill methods, self cleaning rooms in the future? etc) improved transportation (eg motorways, aircraft eg Airbus A380, Boeing 787 dreamliner etc) Improved communication (eg television, colour magazines, podcasting, blogs, mobile phone, e-mail, online newspapers, mobile devices, Wimax etc)
The macro-environment Why is it Important?
An understanding of macro and micro marketing environment forces is essential for planning.
Helps a business to compete more effectively against its rivals.
Assists in the identification of opportunities and threats.
Enables an organization to take advantage of emerging strategic opportunities. The Internal Environment? It includes the following:
The human resource department. The operations department. The accounting and finance department. The research and development department. The Internal Environment Demographics People Make Markets Distribution Growth Size Characteristics of Populations Economic Factors People with Money to Spend and Willing to Spend it Inflation Interest Rates Stage of the Business Cycle Competition Rivals for Customers Limited Buying Power Substitute Products Every Company Brand Competition Differential Advantage Social and Cultural Forces People Make Markets Beliefs Socio-cultural Patterns Changing Quickly Values Lifestyles Social and Cultural Changes Concern for Natural Environment Quality not Quantity Changing Gender Roles Two Incomes and Balance Physical Fitness and Health Exercise and Diet Premium on Time Convenience Political and Legal Forces Monetary and Fiscal Policies Governmental Relationship with Industries Social Legislation and Regulation Legislation Related to Marketing Legislation Affecting Marketing Sherman Antitrust Act Federal Trade Commission Act Clayton Antitrust Act State Unfair Trade Practices Acts Robinson-Patman Act Wheeler-Lea Act Lanham Trademark Consumer Goods Pricing Act Various deregulation laws pertaining to specific industries Regulate Competition External Macroenvironment Forces
Elements (variables) which may directly affect marketing decisions and / or which it is able to use to gain information that will enhance its marketing operations A set of forces close to the company ..
The Microenvironment
The Microenvironment Suppliers and service agencies Supply availability (supplies and costs) / Supplier power Outsourcing / leasing operations PR agencies / advertising agencies Company itself including employees Market orientated / customer focused All departments Internal issues Marketing intermediaries Help company promote, sell and distribute Travel agents, tour operators etc Customers Buyer behaviour, purchasing power etc The Microenvironment STEEP / PEST / PESTLE S Social Consumers habits and preferences T Technological Relevant technology that will be available to customers and competitors E Economic General state of the economy: salaries, disposable income etc E Environmental Likely thinking on environmental issues P Political Likely political regimes, laws Checklist for scanning environment to see what it is like now or will be like STEEP / PEST / PESTLE P Political E Economic S Social T Technological Alternative to STEEP - useful for forecasting demand by studying current and past patterns and how these may be affected by possible changes in the organisations environment Environmental factors included under the main headings STEEP / PEST / PESTLE P Political E Economic S Social T Technological L Legal E Environmental Does not matter as to which model more important to remember to include all the factors Why do an Environmental Analysis? What is it? Micro-Environment Macro-Environment
Summary Familiarity with Marketing Information What is a Marketing Information System (MIS)? What is a Marketing Information System (MIS)? Consists of people, equipment, and procedures to gather, sort, analyze, evaluate and distribute needed, timely, and accurate information to marketing decision makers.
Function: Assess, Develop and Distribute Information. Marketing Information System
Developing Information
The Marketing Information System Information Analysis Internal Data Marketing Research Marketing Intelligence Distributing Information Assessing Information Needs Marketing Managers Marketing Environment M a r k e t i n g
D e c i s i o n s
a n d
C o m m u n i c a t i o n s
Assessing Marketing Information Needs Marketing information system (MIS) consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers Assess the information needs Develop needed information Analyze information Distribute information
Assessing Marketing Information Needs MIS provides information to the companys marketing and other managers and external partners such as suppliers, resellers, and marketing service agencies
Assessing Marketing Information Needs Characteristics of a good MIS balances the information users would like to have against what they need and what is feasible to offer Developing Marketing Information Marketers can obtain information from: Internal data Marketing intelligence Marketing research Developing Marketing Information I nternal Data Internal databases are electronic collections of consumer and market information obtained from data sources within the company network, including accounting, marketing, customer service, and sales departments
Developing Marketing Information Advantages: Can be accessed more quickly Less expensive
Disadvantages: Incomplete information Wrong form for decision making Timeliness of information Amount of information Need for sophisticated equipment and techniques Advantages and Disadvantage of I nternal Databases
Developing Marketing Information Marketing I ntelligence Marketing intelligence is the systematic collection and analysis of publicly available information about competitors and developments in the marketplace
The goal of marketing intelligence is to improve strategic decision making, assess and track competitors actions, and provide early warning of opportunities and threats
Marketing Research Marketing research is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization
Marketing Research Steps in the marketing research process 1. Defining the problem and research objectives 2. Developing the research plan 3. Implementing the plan 4. Interpreting and reporting the findings
Marketing Research Defining the Problem and Research Objectives Types of objectives Exploratory research Descriptive research Causal research Marketing Research Defining the Problem and Research Objectives Exploratory research is the gathering of preliminary information that will help to define the problem and suggest hypotheses Descriptive research is to describe things such as market potential for a product or the demographics and attitudes of consumers who buy the product Causal research is to test hypotheses about cause-and- effect relationships Marketing Research Developing the Research Plan Research plan outlines sources of existing data and spells out the specific research approaches, contact methods, sampling plans, and instruments that researchers will use to gather data Marketing Research Developing the Research Plan Research plan is a written proposal that includes: Management problem Research objectives Information needed How the results will help management decisions Budget Marketing Research Developing the Research Plan Secondary data consists of information that already exists somewhere, having been collected for another purpose
Primary data consists of information gathered for the special research plan Marketing Research Advantages: Speed Cost Provides data that a company cannot collect on its own
Disadvantages: Availability Relevance Accuracy Impartial Marketing Research Primary Data Collection Research approaches Contact methods Sampling plan Research instruments Marketing Research Research Approaches Observational research involves gathering primary data by observing relevant people, actions, and situations Ethnographic research involves sending trained observers to watch and interact with consumers in their natural environment Marketing Research Research Approaches Survey research is the most widely used method and is best for descriptive informationknowledge, attitudes, preferences, and buying behavior Flexible People can be unable or unwilling to answer Gives misleading or pleasing answers Privacy concerns Marketing Research Research Approaches Experimental research is best for gathering causal informationcause-and-effect relationships Marketing Research Contact Methods Mail questionnaires Collect large amounts of information Low cost Less bias with no interviewer present Lack of flexibility Low response rate Lack of control of sample Marketing Research Contact Methods Telephone interviewing Collects information quickly More flexible than mail questionnaires Interviewers can explain difficult questions Higher response rates than mail questionnaires Interviewers communicate directly with respondents Higher cost than mail questionnaires Potential interviewer bias Marketing Research Contact Methods Mail, telephone, and personal interviewing Personal interviewing Individual interviewing Group interviewing Marketing Research Contact Methods Personal interviewing Individual interviewing Involves talking with people at home or the office, on the street, or in shopping malls Flexible More expensive than telephone interviews Group interviewing or focus group interviewing Involves inviting six to 10 people to talk with a trained moderator Marketing Research Online marketing research Internet surveys Online panels Online experiments Online focus groups Contact Methods Marketing Research Contact Methods Online marketing research Low cost Speed to administer Fast results Good for hard-to-reach groups Hard to control whos in the sample Lack of interaction Privacy concerns Marketing Research Sampling Plan
Sample is a segment of the population selected for marketing research to represent the population as a whole Who is to be surveyed? How many people should be surveyed? How should the people be chosen? Marketing Research Sampling Plan
Probability samples: Each population member has a known chance of being included in the sample
Non-probability samples: Used when probability sampling costs too much or takes too much time Marketing Research Research I nstruments
Questionnaires Mechanical devices Marketing Research Research I nstruments Questionnaires Most common Administered in person, by phone, or online Flexible
Marketing Research Research I nstruments Closed-end questions include all possible answers, and subjects make choices among them Provide answers that are easier to interpret and tabulate
Open-end questions allow respondents to answer in their own words Useful in exploratory research Marketing Research I mplementing the Research Plan Collecting the information Processing the information Analyzing the information Customer Relationship Management New business model Philosophy that values two-way communication between company and customer Every point of contact with a consumer is an opportunity to collect data Can make employees more productive and enhance corporate profitability Analyzing Marketing Information CRM consists of sophisticated software and analytical tools that integrate customer information from all sources, analyze it in depth, and apply the results to build stronger customer relationships Customer Relationship Management (CRM) Analyzing Marketing Information Customer Relationship Management (CRM) Data warehouses are comprehensive companywide electronic databases of finely tuned detailed customer information Uses To understand customers better To provide higher levels of customer service To develop deeper customer relationships To identify high-value customers
Analyzing Marketing Information Customer Relationship Management Touch points: Every contact between the customer and company Customer purchases Sales force contacts Service and support calls Web site visits Satisfaction surveys Credit and payment interactions Research studies
Distributing and Using Marketing Information Information distribution involves entering information into databases and making it available in a time- useable manner Intranet provides information to employees and other stakeholders Extranet provides information to key customers and suppliers Other Marketing Information Considerations Marketing Research in Small Businesses and Nonprofit Organizations
Need information about their industry, competitors, potential customers, and reactions to new offers
Must track changes in customer needs and wants, reactions to new products, and changes in the competitive environment
Other Marketing Information Considerations Marketing Research in Small Businesses and Nonprofit Organizations Sources of marketing information: Observing their environment Monitoring competitor advertising Evaluating customer mix Visiting competitors Conducting informal surveys Conducting simple experiments
Other Marketing Information Considerations Marketing Research in Small Businesses and Nonprofit Organizations
Sources of marketing information: Secondary data Trade associations Chambers of Commerce Government agencies Media
Other Marketing Information Considerations I nternational Marketing Research Additional and different challenges Level of economic development Culture Customs Buying patterns Difficulty in collecting secondary data Hard-to-reach respondents Other Marketing Information Considerations Intrusions on consumer privacy Consumer resentment Misuse of research findings Public Policy and Ethics in Marketing Research Sources of Market Information Human sources Executives based abroad are likely to have established communication with distributors, consumers, customers, suppliers, and government officials Friends acquaintances, professional colleagues, consultants, and prospective employees Sources of Market Information Direct perception provides a vital background for the information that comes from human and documentary sources Gets all the senses involved Some information requires sensory experience to interpret it correctly Can be important when the domestic market is dominated by a global player Formal Market Research Global Marketing Research is the project-specific, systematic gathering of data in the search scanning mode on a global basis Challenge is to recognize and respond to national differences that influence the way information is obtained Steps in the Research Process Identifying the research problem Developing a research plan Collecting data Analyzing data Presenting the research findings Identifying the Information Requirement What information do I need? Existing Markets customer needs already being served by one or more companies; information may be readily available Potential Markets Latent market an undiscovered market; demand would be there if product was there Incipient market market will emerge as macro environmental trends continue Why do I need this information? Developing A Research Plan Do we need quantitative or qualitative data? What is the information worth (versus what will it cost to collect)? What will it cost if we dont get the information? What can be gained from the information? Collecting Data Secondary Data Statistical Abstract of the United States Statistical Yearbook of the United Nations World Factbook The Economist The Financial Times Syndicated studies And much more Collecting Data (cont.) Primary Data Collection Methods Survey research Interviews Consumer panels Observation Focus groups Special Considerations for Surveys Benefits: Data collection from a large sample Both quantitative and qualitative data possible Can be self-administered I ssues Subjects may respond with social desirability Translation may be difficult Use back and parallel translations to ensure accuracy and validity Sampling A sample is a selected subset of a population that is representative of the entire population. Probability samples Non-probability samples Analyzing Data Demand Pattern Analysis Income Elasticity Measurements Market Estimation by Analogy Time-series displacement Comparative Analysis Cluster Analysis Presenting the Findings Report must clearly address problem identified in Step 1 Include a memo or executive summary of the key findings along with main report