Marketing - Lesson 3

Sales information system
Provides up to minute information on sales, current accounts & customers, provides feedback and reports.
Marketing intelligence system is a set of procedures and sources used by managers to obtain everyday information about developments in the marketing environment.
Steps taken to improve quality of marketing intelligence:
·         Train and motivate sales force
·         Motivate distributors, retailers and other intermediaries
·         Learn about competitors by purchasing products, tradeshows
·         Setup customer advisory panel of largest or important customers
·         Purchase information from outside suppliers like AC Nielsen
·         Establish marketing information centre to collect marketing intelligence
Marketing Research is the systematic design and collection, analysis and reporting of data and findings to a specific marketing situation facing the company.
Suppliers of marketing research:
·         In-house marketing research dept
·         Engage b-school students or professors to design and carry out projects
·         Use the internet for public domain information at low cost
·         Checking out rivals through products, advtg etc
·         Companies also purchase research from:
*      Syndicated service research firms: they gather research and sell for a fee
*      Custom research firms: They design and carry out specific projects customized for the company concerned
*      Speciality line marketing research firm: provide specialized research services. e.g.: field service firm does only interviews

The Marketing Research Process
Step 1: Define the Problem and Research Objectives
Step 2: Develop the Research Plan
Step 3: Collect the information
Step 4: Analyse the information
Step 5: Present the findings

Marketing executives need to estimate total market potential, area market potential and total industry sales and market shares.
Total market potential
It is the maximum amount of sales that might be available to all the firms in the industry during a given period under a given level of industry marketing effort and given environmental conditions.
 MAJOR FACTORS - (MACROENVIRONMENT)
A)  DEMOGRAPHIC - (BREAKUP & CHANGES IN AGE, INCOME, SEX, EDUCATION, URBAN-RURAL, LIFE EXPECTANCY, OCCUPATION, PERSONS PER HOUSEHOLD).
B)  SOCIO / CULTURAL - (FAMILY STRUCTURE, DECISION-MAKING, PESTERPOWER VALUES LIFESTYLES).
C)  TECHNO LOGICAL - (CREATIVE DESTRUCTION, IMPACT ON PRODUCT, PACKAGING, ADVERTISING).
D)  POLITICAL / LEGAL - (LAWS TO PREVENT UNFAIR COMPETITION, CONSUMERS & SOCIETY).
E)  ECONOMIC - (PER CAPITA INCOME, CREDIT AVAILABILITY, SAVINGS, STAGE OF BUS CYCLE).
F)  PHYSICAL - (GOVTAL INTERVENTION, NEW OPPORTUNITIES).
ACTORS - (MICROENVIRONMENT)
A)  COMPANY
B)  SUPPLIERS
C)  MARKETING INTERMEDIARIES
D)  CUSTOMERS
E)  COMPETITORS
F)  PUBLIC - ASCI, CONSUMER ACTION GROUP

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