mktg Flashcards
(35 cards)
consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers.
marketing information system
• What decisions do you regularly make?
• What information do you need to make these decisions?
• What information do you regularly get?
• What studies do you periodically request?
• What information would you want that you are not getting now?
• What are the four most helpful improvements that could be made in the present marketing information system?
information needs probes
• Order-to-payment cycle
• Sales information system
• Databases, warehousing, data mining
• Marketing intelligence system
Internal Records and Marketing Intelligence
a set of procedures and sources that managers use to obtain everyday information about developments in the marketing environment.
marketing intelligence system
• Train sales force to scan for new developments
• Motivate channel members to share intelligence
• Hire external experts to collect intelligence
• Network externally
• Utilize a customer advisory panel
• Utilize government data sources
• Purchase information
Steps to Quality Marketing Intelligence
• Independent customer goods and service review forums
• Distributor or sales agent feedback sites
• Combination sites offering customer reviews and expert opinions
• Customer complaint sites
• Public blogs
Sources of Competitive Information
Fad
Trend
Megatrend
needs and trends
Demographic
Political-legal
Economic
Technological
Socio-cultural
Natural
Major Forces in the
Environment
Population and
Demographics
• Population growth
• Population age mix
• Ethnic markets
• Educational groups
• Household patterns
Consumer Psychology
Income Distribution
Income, Savings, Debt, Credit
Economic Environment
• Subsistence economies
• Raw-material-exporting economies
• Industrializing economies
• Industrial economies
Income Distribution
The set of consumers with a
sufficient level of interest in a market
offer.
Potential Market
The set of consumers who have
interest, income, and access to a particular
offer.
Available Market
The part of the qualified available
market the company decides to pursue.
Target Market
The set of consumers who are buying
the company’s product.
Penetrated Market
the total volume that
would be bought by a defined customer
group in a defined geographical area in
a defined time period in a defined
marketing environment under a defined
marketing program.
Market Demand
Two extreme types of market
Expansible and Non Expansible Market
affected in size by the level of industry marketing expenditures
Expansible market
not much affected
by the level of marketing expenditures
Non-Expansible Market
the level of primary demand
for the product class
Market Size
Comparing current and potential market
shares yields a firm’s
Share penetration index
if the index is ____, the company can greatly expand its shares.
low
The level of industry marketing
expenditure that will occur. The market
demand corresponding to this level.
Market Forecast
The market forecast shows expected
market demand, not maximum market
demand.
market potential
