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Mm6,7,8 Mm6,7,8 Presentation Transcript

  • Answer from the pre-class reading only. Negative marks will be applicable for wrong answers. Answer in one or two sentences.  Presidency Business School, QUIZ no. 3  Name : Date:  Sem: 1(MKU) Marketing Management
  • Two marks each  1.What is primary sources of data?  2. What are the types of primary data?  3.What is census?  4.Why is census not suitable for many market researches?  5. What is the term given to the pie taken from a population?
  • Product  Product variety  Quality  Design  Features  Brand name  Packaging  Sizes  Services  Warranties  Returns View slide
  • Price  List Price  Discounts  Allowances  Payment period  Credit terms View slide
  • Promotion  Sales promotion  Advertising  Sales force  Public relations  Direct marketing
  • Place  Channels  Coverage  Assortments  Locations  Inventory  Transport
  • MIS A marketing information system consists of people, equipment , procedures to gather sort analyse evaluate distribute needed, timely and accurate information to marketing decision makers.
  • 􀂙 How do we gather information? 􀂙 Internal intelligence systems 􀂙 Analyse macro environment 􀂙 Understanding demographics 􀂙 Other macro environment like: - Economic environment - Social cultural environment - Natural environment - Technological environment - Political legal environment
  • 􀂙 Components of MIS : - Internal company records - Marketing intelligence system - Marketing research 􀂙 MIS provides information on: - Buyer wants, preferences and behaviour - Consumption patterns across geographic areas Thus the companies can : - Choose its markets better, develop better offerings, and execute better planning
  • 􀂙 Managers rely on Order, sales, prices, costs, inventory levels, receivables, payables Let us now examine each of the components of MIS. 1. Internal records : - Order to payment cycle - Sales information system - Data base , data warehousing, data mining
  • 1.1 Order to payment cycle : The heart of internal records is the order to payment cycle. Sales representatives , dealers and customers send orders . The sales department prepares an invoice and transmits to all in the company. Out of stock items are back ordered . Shipped items are accompanied by shipping and billing documents that are sent to various department. 1.2 Sales information system: Marketing managers need timely report from sales for further actions. How much has been sold, stock pending at the distributors, stock in transit , how a consumer promotion has worked , these are some of the information that this system gives.
  • 1.3 Database management : Companies collect and organize data according to customers, products, sales and then combine all these to arrive at some decision making point. Data warehousing is storing data in one source with multiple files so that retrieval is easy. Data mining is extracting relevant information from the warehouse and analyzing it according to the needs of the situation.
  •  2. Marketing intelligence system  It is a set of procedures and sources managers use to obtain  everyday information about developments in the marketing  environment. - Information is got through reading newspapers, books,  journals, customers, suppliers
  • 􀂙 How can one obtain a good marketing intelligence? - Motivated sales force can spot new developments - Distributors, retailers and suppliers - Stock holders meetings, published reports - Customer advisory panel - Govt. data resources - Retail audit, consumer panel data - Online customer feedback
  • 3. Marketing Research 1. What is marketing research? “The systematic gathering , recording and analysing of data about problems related to the marketing of goods and services”
  • 2. Purpose of research : - Decision making tool - facilitation - Risk reduction - Discovering profitable opportunities 3. Marketing research acts as a marketing tool in the following areas of sales and marketing. - Study of consumer behaviour - Product design - Designing distribution channels - Advertising design – through consumer perception - Social marketing
  • 4. Steps in marketing research - Problem definition - Research design - Field work/Collect information - Data Analysis - Report presentation Let us examine each of the steps with its sub activities Problem definition – - Define the issue on hand - Give a correct overview of current scenario and future objective
  •  Research Design  - Data collection  Observational research  Focus group Research  Survey research  Behavioral data  Experimental research( cause & effect relationships)
  •  - Research instrument  Questonairs: Close-end Open-end  Mechanical instruments: like,  Galvanometers-emotions  Tachistoscopes flashes  Eye cameras  Audiometer-TV  - Sampling plan
  •  Field work  - Planning and supervision  Data Analysis  - Classifying raw data  - Summarising data  - Analytical methods to analyse and then make an inference
  •  Application of research :  - Sales and market analysis  - Product research  - Corporate research  - Advertising research
  •  Barriers to the use of MR  A narrow conception of Marketing Research  Uneven caliber of Marketing researchers  Late and erroneous findings by marketing research  Personality and presentational differences.