Ii mm.03.10
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A marketing information system consists of people, equipment, and processes to gather, analyze, and distribute market data to decision-makers. It is built from internal records, marketing research, and a marketing intelligence system. A marketing intelligence system is a set of methods and sources managers use to obtain daily information about changes in the external environment. Analyzing the macroenvironment involves examining demographic, economic, sociocultural, technological, political/legal, and natural forces and their potential opportunities and threats.
Ii mm.03.10
- 1. Marketing Management MBA CP 205
- 2. Gathering information and Scanning the Environment
- 3. Learning objectives: Know what are the components of a modern marketing information system. Know what are useful internal records. Know what is involved with a marketing intelligence system. Know what are the key methods for tracking and identifying opportunities in the macro environment. Know what are some important macro environment developments. Gathering information and Scanning the Environment
- 4. Gathering information and Scanning the Environment Marketing Information System 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.
- 5. Gathering information and Scanning the Environment MIS is developed from …. Internal company records Marketing Research Marketing Intelligence
- 6. Gathering information and Scanning the Environment Internal company records Order-to-Payment Cycle Databases, Warehousing, Data Mining Marketing Intelligence System Sales Information System
- 7. Marketing Intelligence System A marketing intelligence system is a set of procedures and sources manager use to obtain everyday information about developments in the marketing environment. Gathering information and Scanning the Environment
- 8. Gathering information and Scanning the Environment Steps to improve quality of marketing intelligence Motivate channel members to share intelligence Train sales force to scan for new developments Network externally Utilize a customer advisory panel Utilize government data resources Purchase information from outside suppliers Collect customer feedback online
- 9. Gathering information and Scanning the Environment Analyzing the Macro-environment Needs and Trends Fad Trend Megatrend
- 10. Gathering information and Scanning the Environment Identifying Environmental forces Demographic Economic Political-Legal Socio-Cultural Technological Natural
- 11. Gathering information and Scanning the Environment Population and demographics Size Growth rate Age distribution Ethnic mix Educational levels Household patterns Regional characteristics Movement
- 12. Gathering information and Scanning the Environment All figures in million Source: The Marketing White book 2007-08, Business World
- 13. Gathering information and Scanning the Environment The size and growth rate of India’s population provides great marketing opportunities. As per 2001 census, median age of Indian population is 24 years making India a young country where as there is a trend towards an aging population globally. Marketers need to analyze the markets carefully to find major opportunities due to rising population. Chinese example.
- 14. Gathering information and Scanning the Environment Mattel markets in China. The headline reads: “ Hot wheels Performance Tracks – Great Varieties, Great Challenges!”
- 15. Gathering information and Scanning the Environment Economic Environment Purchasing Power Income Distribution Savings Rate Debt Credit Availability
- 16. Gathering information and Scanning the Environment Classification of Income Class 1995-1996 2006-2007 All figures in million Source: The Marketing White book 2003-04, Business World 95 16.5 190.4 33 The Deprived(<0.9L) 117 20.2 253.9 44 The Aspirers(0.9-2L) 472 81.7 312.2 54.1 The seekers(2-5L) 432 75.5 186 32.5 The Strivers(5-10L) 30 5.2 7 1.2 The Globals(>10L) Estimated Population Households Estimated Population Households Income Class
- 17. Gathering information and Scanning the Environment Socio-cultural Environment Culture, traditions, beliefs, attitudes, values and lifestyles of the people constitute the socio-cultural environment. Social factors influence the products people buy, the prices they are willing to pay and how, where and when people expect to purchase products. With over 30 languages, over 200 mother tongues and app. 2000 dialects, India is a complex nation of cultures and sub-cultures.
- 18. Gathering information and Scanning the Environment Diversity of languages has implications for marketing communications. A survey conducted by Research International in 2002 indicated significant regional differences in values, attitudes and preferences amongst Indian women. Based on the shopping habits of women, the study classifies them into five categories. These are: Liberated youngsters (13%), Modern mums (18%), Behind the times (20%), Rebellious youngsters (22%), and Orthodox mothers (27%)
- 19. Gathering information and Scanning the Environment Natural Environment Shortage of raw materials Increased energy costs Anti-pollution pressures Changing role of Governments
- 20. GreenDisk, a company that Produces high – quality Recycled disks. Gathering information and Scanning the Environment
- 21. Gathering information and Scanning the Environment Technological Environment Pace of change Opportunities for innovation Varying R&D budgets Increased regulation of change
- 22. Gathering information and Scanning the Environment Politico-Legal Environment Increase in business legislation Growth of special interest groups
- 23. Recap: What are the components of a modern marketing information system. What are useful internal records. What is involved with a marketing intelligence system. What are the key methods for tracking and identifying opportunities in the macro environment. What are some important macro environment developments. Gathering information and Scanning the Environment