Marketing-Information Managementand Market Research
Why is Marketing Information Needed?To identify potential customers, potentialproducts, marketing opportunities, solvemarketing problems, implementmarketing plans, and monitor marketingperformance.
What type of information are we trying to find? Customer Marketing mix Business Environment
What type of information about the consumer? Demographic Psychographic Geographic Behavioral
Which includes… • Age • Attitudes • Media • Gender • Primary needs preferences • Income • Product • Shopping • Education purchases behavior • Family size • Purchase • Home ownership frequency • Address • Brand preferences • Occupation • Information • How money is needs spent
Marketing Mix A planned mix of the controllable elements of a products marketing plan is a general phrase used to describe the different kinds of choices organizations have to make in the whole process of bringing a product or service to market.
Marketing Mix4 P’s of Marketing-Product-Price-Place-Promotion
Business Environment• Type of competition • New technology• Competitors’ • Consumer protection strengths • Ethical issues• Competitors’ • Tax policies strategies • Proposed laws• Economic conditions • International markets• Government regulations
How do we get the information?Surveys/Polls/Focus GroupsCensus InformationSales informationStock MarketPrevious Marketing Reportsand more…
QuantitativeRelating to, measuring, or measured bythe quantity of something.QualitativeRelating to, measuring, or measured bythe quality of something rather than itsquantity: