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Managing Marketing Information.pdf - Principles of...

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Principles of MarketingManaging Marketing Information to Gain Customer InsightsSumit MalikSpecial LecturerSolBridge International School of BusinessEmail:[email protected]
Recap: Important ConceptMarketing Environment – Actors and ForcesSuppliersEnvironmentActors/MicroenvironmentPublics: Financial, media,government, citizengroups, and employeesCompanyDepartmentsIntermediaries:Resellers, distributors,marketing agencies, andfinancial intermediariesCustomersCompetitorsPoliticalCulturalEconomicDemographicEnvironmentalForces/Macro-environmentTechnologicalNaturalMarket actors(i.e., microenvironment) andlarger societal forces(i.e.,macro-environment) affect the company’s ability to create customer value.
Session OutlineExplain theimportance of gaining insightsabout customers andmarketplaceDiscuss thesteps in the marketing research processUsing themarketing insights
Pampers Golden Sleep CampaignWhat is the main message of Pampers Golden Sleep Campaign?
Is there a marketfor a new product?Are there crossselling opportunities?Are our customers satisfied?Identify new opportunities/ threatsSolve an existing problemMarketing InformationMarketing InsightsMarketing information(e.g., big data, internal databases, marketresearch, social media interaction etc.) needs to be converted tomarketing insightsrequires integrated managementWhat are the customer needsand buying motives?Why is a product selling poorly?Why are we losing market share?How to price a new product?So, why should companies generate marketing insights?
Developing the Marketing InformationInternal Data SourcesMarketing Department:Customer characteristics, in-store, and online sales, andcash-flowsCustomer ServiceDepartment: Customersatisfaction or service problemsOperations Department:Production, shipment, andinventoriesSales Department: Resellerresponses, competitorstrategies, customer feedbackMarketing Channel Partners:Sales transactions
Developing the Marketing InformationCompetitive Marketing IntelligenceCompetitive Intelligence(Systematic monitoring, collection, andanalysis of publically-available informationabout consumers, competitors, and marketdevelopments)ConsumerengagementEmerging threatsand opportunities inthe marketplaceEmployee interviewsBenchmarking competitor products(e.g., Samsung)Social Media BuzzCompetitor websites and onlinedatabasesMystery shopping (ethical dilemma!)
Marketing research is thesystematic design, collection, analysis, andreporting of datarelevant to a specific situation facing the organization(e.g., entering a new market or targeting a new customer segment).Defining theproblem andobjectivesDevelopingthe researchplanExecutingresearch plan- datacollectionInterpretingand reportingDeveloping the Marketing InformationMarketing Research: StepsMost important step(wrong problemincorrect insight)
Marketing ResearchStep 1: Defining the Research ProblemManagerial QuestionResearch Questions

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Term
Fall
Professor
N/A
Tags
Marketing, McDonald

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