Marketing management basic

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Marketing Management Part 2: Gathering Information and Scanning the Environment & Conducting Co duc g Marketing e g Research ese c and Forecasting Demand Chapter p 3 Gathering Information and S Scanning i the th E Environment i t Content • 1. Modern Marketing Information System • 2. Internal Records and Marketing Intelligence • 3. Analyzing the Macro-environment • 4. The Demographic Environment 1. What is a M k ti Information Marketing I f ti System S t (MIS)? A marketing information system consists of people, equipment, and procedures p ocedu es to gat gather, e , so sort, t, aanalyze, a y e, evaluate, and distribute needed, timely, d accurate ccu e information o o too and marketing decision makers. 2. Internal Records and Marketing I t lli Intelligence • • • • Order to payment cycle Order-to-payment Sales information system D t b Databases, warehousing, h i data d t mining i i Marketing intelligence system Steps p to Improve p Marketing g Intelligence g • • • • • • • Train sales force to scan for new developments Motivate channel members to share intelligence Network externally Utilize a customer advisory panel Utili governmentt data Utilize d t sources Collect customer feedback online Purchase h iinformation f i Sources of Competitive p Information • Independent p customer goods g and service review forums • Distributor or sales agent feedback sites • Combination sites offering customer reviews and expert opinions • Customer complaint sites • Public blogs 3. Analyzing the Macro-environment 3.1. Needs and Trends • Fads: "unpredictable, short-lived, and without social economic, social, economic and political significance significance."" • Trends: A trend reveals the shape of the f future andd provides id many opportunities ii . • Megatrends: "large social, economic, political and technological changes [that] are slow to form, and once in place, they influence us for some time time— between seven and ten years, or longer." 10 Keys Customer Insights: Robert Shieffer 3.2. Trends Shaping the Business L d Landscape • Profound shifts in centers of economic activity • Increases in public publicsector activity • Change in consumer landscape • Technological connectivity • Scarcity of well-trained talent • Increase in demand for natural resources • Emergence of new global industry structures • Ubiquitous access to information • Management shifts from art to science • Increase in scrutiny of p bigg business practices • • • • • • • The Power of Spirituality. In turbulent times, we look within; 78 percent seek more Spirit. Meditation and yoga soar. Divine Presence spills into business. “Spiritual” CEOs as well ll as senior i executives i from f Redken R dk andd Hewlett-Packard H l P k d (HP) transform f their h i companies. The Dawn of Conscious Capitalism. Top companies and leading CEOs are reinventing free enterprise to honor stakeholders and shareholders. Will it make the world a better place? Yes. Will it earn more money? That’s the surprising part: Study after study shows the corporate good guys rack up great profits. Leading from the Middle. The charismatic, overpaid CEO is fading fast. Experts now sayy “ordinary” y managers, g , like HP’s Barbara Waugh, g , forge g lasting g change. g How do they y do it? Values, influence, moral authority. Spirituality in Business is springing up all over. Half speak of faith at work. Eileen Fisher, Medtronic win “Spirit at Work” awards. Ford, Intel and other firms sponsor employee-based employee based religious networks. networks Each month San Francisco Francisco’ss Chamber of Commerce sponsors a “spiritual” brown bag lunch. The Values-Driven Consumer. Conscious Consumers, who’ve fled the mass market, are a multi-billion-dollar “niche.” Whether buying hybrid cars, green building supplies or organic food food, they vote with their values. values So, So brands that embody positive values will attract them. The Wave of Conscious Solutions. Coming to a firm near you: Vision Quest. Meditation. Forgiveness Training. HeartMath. They sound touchy-feely, but conscious b i business pioneers i are tracking t ki results lt that th t will ill blow bl your socks k off. ff The Socially Responsible Investment Boom. Today’s stock portfolios are green in more ways than one. Where should you invest? 4. Environmental Forces • • • • • • Demographic Economic S i Socio-cultural lt l Natural Technological Political-legal g 4.1. Population p and Demographics g p • Population p ggrowth • Population age mix t c markets a ets • Ethnic • Educational ggroups p • Household patterns Geographical ap ca shifts s ts • Geog 4.2. Economic Environment • Income Distribution • Savings, Debt, and Credit 4.3. Social-Cultural Environment • • • • Views of themselves Views of others Vi Views off organizations i ti Views of society: preserver, taker, maker, changer, h escaper • Views of nature • Views of the universe Values What are Personal Values? Personal Values are: “The things that act as the guiding principles in your life and give meaning to your life” or Whatever is important to you Rene Magritte: Magritte “Personal Values” Val es” World Top Ten Values Top 10 Personal Values Top 10 Personal Values (China) Protecting the family Protecting the family Honesty Stable personal relationships Health and fitness Social stability Self esteem Self-esteem Respecting ancestors Self-reliance Honesty Justice Health and fitness Freedom Friendship Friendship Self-reliance Knowledge Freedom Learning Enjoying life Source: Robert Report Values Map p Fun People Romance Stab p rel Endur love Friendship Pleasure Sex Enjoying life Having fun Adventure Freedom Music Excitement A varied life Curiosity Leisure Live for today Soc tol Pers supp Helpful Nature Authenticity Internat. Justice Self-rel. Learning Environm. Soc stab. Self-est. Creativity Individ. Look good Youthful Beauty E Equality lit Open-mind Fulfill work Courage Knowledge H Honesty Family Soc Resp Persever. Wisdom Spirituality Simplicity Health & fit Mat Security Enterprising Order Thrift Modesty Duty Ambition Public Image Wealth Faith Resp. anc. Tradition Power Tradition Power Obedience Status Trad. gend r. Values are Grouped p into Six Segments g Proponents of social causes and issues Valuing faith, tradition, duty, & respect for elders Ambitious, status Ambitious status-conscious, conscious power-seeking Committed to learning and technology Focusing on excitement, recreation, and enjoyment Concerned with family family, home, home and personal relationships Values Map p Romance Stab p rel Endur love Friendship Pleasure Sex Enjoying life Having fun Adventure Music Excitement A varied life Leisure Live for today Individ. Look good Youthful Beauty Freedom Curiosity E Equality lit Open-mind Soc tol Pers supp Helpful Nature Authenticity Internat. Justice Self-rel. Learning Environm. Soc stab. Self-est. Creativity Fulfill work Courage Knowledge Honesty Family Soc Resp Persever. Wisdom Spirituality Simplicity Mat Security Order Thrift Modesty Duty Ambition Public Image Wealth Faith Resp. anc. Tradition Power Obedience Status Trad. gend r.
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