The document provides an overview of key concepts from chapters in Kottler and Wood related to collecting market information, forecasting demand, and analyzing a company's current situation. It discusses developing a marketing information system, types of internal and marketing data, the marketing research process, and variables that impact demand forecasting. It also outlines analyzing a company's internal factors like resources, offerings, results and relationships as well as external macroenvironmental and microenvironmental trends that influence strategic decisions.
The document outlines a three-week marketing analysis plan. Week 1 involves establishing a value creation framework by understanding current marketing metrics, operational processes, and customer metrics. Week 2 focuses on finalizing the scope and approach, including data extraction requirements. Week 3 consists of performing a value analysis and documenting the results. The plan includes numerous meetings and discussions to gather information on historical campaign performance, review documents, define the analysis scope, and finalize the value analysis. The overall goal is to define a campaign pilot to test new marketing initiatives and business models.
This document provides an overview of market research and outlines key components to include in a market profile, customer profile, and competitor profile. It defines market research and highlights its importance for business planning. The main components of a market profile are identified as market definition, size, growth, segments, trends, and relationships. Customer profiles should analyze buying behavior, demographics, and socioeconomic factors. Competitor profiles involve comparing products/services and identifying primary competitors. The document recommends secondary research resources and tips for selecting accurate and timely sources.
The role of internet in marketing research and business decision making…Ashwa Khan
The document summarizes the role of the internet in marketing research and business decision making. It discusses how the internet can be used as a research tool to understand customers, their buying behaviors, and market information. Some key benefits of using online research include lower costs, easier administration of surveys, rapid results, and the ability to reach large populations. The document also outlines sources of online data, both primary sources like questionnaires and secondary sources like web traffic logs, and describes some advanced data collection techniques used for analysis.
Marketing research and demand forecastingSamarth Gupta
This document discusses marketing research and demand forecasting. It defines marketing research as the systematic and objective identification, collection, analysis, dissemination, and use of information to improve decision-making related to problems and opportunities in marketing. The document outlines the need for marketing research to effectively undertake marketing and reduce risks. It also describes the purpose of marketing research as gaining a better understanding of consumer needs to reduce failure risks and forecast trends. The document then discusses different types of marketing research techniques and methods, as well as the marketing research process. Finally, it discusses demand forecasting and different levels and functions of measuring market demand.
Marketing research involves systematically collecting and analyzing information about markets and consumers to inform business decisions. It serves descriptive, diagnostic, and predictive functions. Common marketing research methods include qualitative approaches like focus groups and interviews to understand attitudes and motivations, as well as quantitative surveys and experiments to measure preferences and test hypotheses. The goals, budget, and type of insights needed determine the most appropriate research method(s) and sample size. Outsourcing research to specialist agencies allows businesses to leverage professional expertise throughout the research process.
Marketing Research Paper Final Draft- Jessica Carroll & Kara ReynoldsJessica Carroll
This document provides a summary of a research proposal to evaluate event concepts for a non-profit organization in Kingston, Ontario. The research will involve interviews with 10 event professionals and an online survey of 100 event managers. The goal is to determine successful event themes, budgets, marketing tactics, obstacles and other factors. Preliminary results from 38 respondents found that fundraising events averaging 4-6 hours were most common. The highest costs and funds raised were for non-traditional industry events. Key obstacles included attendance and budget issues. Event costs had a significant impact on funds raised.
Category management and procurement planningMohamed Azzam
Category management is a strategic procurement approach that organizes resources to focus on specific spending categories. This allows category managers to conduct in-depth market analysis and leverage procurement decisions across the organization. The 10-step process for effective category management includes segmenting spend, forming cross-functional category teams, analyzing demand and supply, developing sourcing strategies, selecting suppliers, identifying cost-saving opportunities, creating a category plan, managing contracts and suppliers, and periodically reviewing performance.
The document outlines a three-week marketing analysis plan. Week 1 involves establishing a value creation framework by understanding current marketing metrics, operational processes, and customer metrics. Week 2 focuses on finalizing the scope and approach, including data extraction requirements. Week 3 consists of performing a value analysis and documenting the results. The plan includes numerous meetings and discussions to gather information on historical campaign performance, review documents, define the analysis scope, and finalize the value analysis. The overall goal is to define a campaign pilot to test new marketing initiatives and business models.
This document provides an overview of market research and outlines key components to include in a market profile, customer profile, and competitor profile. It defines market research and highlights its importance for business planning. The main components of a market profile are identified as market definition, size, growth, segments, trends, and relationships. Customer profiles should analyze buying behavior, demographics, and socioeconomic factors. Competitor profiles involve comparing products/services and identifying primary competitors. The document recommends secondary research resources and tips for selecting accurate and timely sources.
The role of internet in marketing research and business decision making…Ashwa Khan
The document summarizes the role of the internet in marketing research and business decision making. It discusses how the internet can be used as a research tool to understand customers, their buying behaviors, and market information. Some key benefits of using online research include lower costs, easier administration of surveys, rapid results, and the ability to reach large populations. The document also outlines sources of online data, both primary sources like questionnaires and secondary sources like web traffic logs, and describes some advanced data collection techniques used for analysis.
Marketing research and demand forecastingSamarth Gupta
This document discusses marketing research and demand forecasting. It defines marketing research as the systematic and objective identification, collection, analysis, dissemination, and use of information to improve decision-making related to problems and opportunities in marketing. The document outlines the need for marketing research to effectively undertake marketing and reduce risks. It also describes the purpose of marketing research as gaining a better understanding of consumer needs to reduce failure risks and forecast trends. The document then discusses different types of marketing research techniques and methods, as well as the marketing research process. Finally, it discusses demand forecasting and different levels and functions of measuring market demand.
Marketing research involves systematically collecting and analyzing information about markets and consumers to inform business decisions. It serves descriptive, diagnostic, and predictive functions. Common marketing research methods include qualitative approaches like focus groups and interviews to understand attitudes and motivations, as well as quantitative surveys and experiments to measure preferences and test hypotheses. The goals, budget, and type of insights needed determine the most appropriate research method(s) and sample size. Outsourcing research to specialist agencies allows businesses to leverage professional expertise throughout the research process.
Marketing Research Paper Final Draft- Jessica Carroll & Kara ReynoldsJessica Carroll
This document provides a summary of a research proposal to evaluate event concepts for a non-profit organization in Kingston, Ontario. The research will involve interviews with 10 event professionals and an online survey of 100 event managers. The goal is to determine successful event themes, budgets, marketing tactics, obstacles and other factors. Preliminary results from 38 respondents found that fundraising events averaging 4-6 hours were most common. The highest costs and funds raised were for non-traditional industry events. Key obstacles included attendance and budget issues. Event costs had a significant impact on funds raised.
Category management and procurement planningMohamed Azzam
Category management is a strategic procurement approach that organizes resources to focus on specific spending categories. This allows category managers to conduct in-depth market analysis and leverage procurement decisions across the organization. The 10-step process for effective category management includes segmenting spend, forming cross-functional category teams, analyzing demand and supply, developing sourcing strategies, selecting suppliers, identifying cost-saving opportunities, creating a category plan, managing contracts and suppliers, and periodically reviewing performance.
This document provides an overview of key marketing concepts from a global perspective. It begins by defining marketing as the process of planning, pricing, promoting and distributing goods and services to create value for customers. The marketing mix of product, price, place and promotion is discussed. The document also distinguishes between marketing and sales, explores the scope of what can be marketed, and covers core concepts like customer needs, value, and the marketing environment. Key frameworks are summarized, including the marketing system, 4Ps and 4Cs, and the strategic marketing process. The roles of various stakeholders in marketing are also outlined.
CSCM Chapter 4 customer and market segmentation cscmEst
This document discusses market segmentation and how to segment a market. It describes 6 key steps to segmenting a market: 1) Define the market, 2) Create market segments, 3) Evaluate segment viability, 4) Construct segment profiles, 5) Evaluate segment attractiveness, and 6) Select target market. It also discusses types of segmentation including demographic, behavioral, psychographic, and geographic segmentation. Important criteria for effective market segments are that they are homogeneous within and heterogeneous between segments, substantial in size, and operational to implement marketing strategies. Market segmentation can help companies better understand customer needs and capture more sales in niche markets.
The document provides an overview of the concepts and practices of marketing research. It discusses how marketing research helps improve decision making by providing relevant, accurate and timely information. It outlines the marketing research process and different types of marketing research including programmatic, selective and evaluative research. It also discusses the growing importance of international marketing research given increased globalization. Finally, it discusses how marketing research data can be organized and stored in databases and retrieved using a decision support system to provide useful information to managers.
Principles of Marketing Philippine Managing Information and Marketing ResearchDr. John V. Padua
This document provides an overview of managing information and marketing research. It discusses the importance of information to companies and defines marketing research. The marketing information system is introduced as consisting of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute timely and accurate information. The four main steps in the marketing research process are outlined as defining the problem, developing a research plan, implementing the plan, and reporting findings.
Marketing research involves collecting, organizing, analyzing, and communicating information to make informed marketing decisions. It helps complement marketing strategies by enabling educated decisions on target markets, branding, and products/services. Key steps include defining problems, collecting primary and secondary data, analyzing and interpreting data, reaching conclusions, and implementing findings. Online research assists with various phases using computer networks and the Internet. Market research agencies in India provide specialized services across industries.
This file is related with the Business Research subject based on the Chapter of Customer Driven Marketing Strategy ,Chapter No.11 of Contemporary issues in Business.
Entrepreneurs need marketing research to gather missing information and update plans over time as their businesses evolve. While some myths suggest research is too expensive, entrepreneurs can conduct low-cost experiments and surveys using methods like focus groups, mall intercepts, and convenience sampling. Effective low-cost research involves designing surveys with clear hypotheses, pre-testing questions, and using simple scales and language understood by all respondents.
This document discusses market research and different types of market research firms. It defines market research as researching the immediate competitive environment, including customers, competitors, suppliers, and retailers. Marketing research includes all of this plus companies' strategies and the wider operating environment. External market research firms are categorized as syndicated service research firms, custom market research firms, or specialty line research firms. Conducting market research in new product development can help shape products to customer needs/wants, point out successes/failures before launch, and save time and money. Market research can also be categorized by source, methodology, and objectives.
What we can do in Retail analytics by bhawani nandanprasadBhawani N Prasad
1. The document discusses various retail analytics strategies and solutions including: retail product life cycle price optimization, markdown optimization for short and long life cycle products, data mining for price optimization, key value item analysis, assortment and space optimization, market basket analytics, optimization intelligence reporting, promotion strategy and measurement, social commerce, and cluster analysis.
2. The solutions aim to optimize pricing, promotions, inventory, and assortments to increase sales and profits through techniques like price elasticity analysis, simulation, localization, and predictive analytics.
3. Benefits cited include increased sales 1-12%, gross margin gains 2-20%, ROI of $10-20 for every $1 invested, and better decision making through
This document provides an overview of market research, including definitions, features, objectives, functions, scope, and process. Some key points:
1. Market research is defined as the systematic gathering, recording and analysis of data about problems relating to marketing goods and services. It helps solve marketing problems and aid decision-making.
2. It is a systematic process that collects, records, analyzes data to solve marketing problems. It provides information to marketing managers to make decisions.
3. The scope of market research includes researching products, consumers, packaging, pricing, advertising, sales, distribution, policies, international markets, and motivation.
4. The market research process involves defining objectives, designing the research,
Taking the Higher Ground in Category ManagementJosh Stancil
This presentation, given at ProcureCon Indirect West 2019, focuses on how to break down the barriers to category management excellence. Procurement teams generally feel that there are four barrier preventing them from effectively implementing a category management program today: they don't have the right data; they don't have the capabilities to process and analyze the data; they don't have the category knowledge; and there is no clear ROI for category management.
In this presentation, Doug Van Wingerden from Insight Sourcing Group builds the case for category management ROI and shows you how you can break down the final three barriers and drive up to an additional 20% in savings.
This document provides an overview of business-to-business (B2B) marketing. It discusses key topics such as organizational buying behavior, relationship management, segmenting the B2B market, and managing products, services, price, channels, and communications for B2B. It also covers case studies and the differences between industrial and consumer marketing. The document is intended as an introduction and outline for the subject of B2B marketing.
Presentation made for students of Garware Institute, Kalina - PG Dip in Advertising and Media.
An overview of what is Market Research with different types of research. How they are useful,
Market research known as the process of gathering, analyzing and interpreting information about a market, about a product or service to be offered for sale in that market, and about the past, present and potential customers for the product or service. But what about marketing research, and what is the difference between them and which one do I need in my business.
That's all would be in our presentation, we hope you all like it and find it interesting.
Purchasing Policy and Procedures | Policies provide guidance and direction | ...FaHaD .H. NooR
Purchasing Policy and Procedures | Policies provide guidance and direction | Role of purchasing
Conduct of purchasing personnel
Social and minority business objectives
Buyer-supplier relationships
Operational issues
| Purchasing procedures |
This slide provides a quick overview of different aspects of marketing research. This ppt is expected to help researchers, faculties, and students to understand various aspects of Research and especially 'Marketing Research'.
Youtube link of the video in ppt: https://www.youtube.com/watch?v=Mm0g8mVHffE&feature=youtu.be
Marketing information system collects, analyzes, and distributes market data to help marketing managers make decisions. It provides three types of information: recurrent for regular updates, monitoring for scanning external sources, and requested for specific needs. The system sources data internally from sales, costs, and financial records, and externally from marketing research. It is important for anticipating customer demand, taking a systematic approach, understanding economic indicators, analyzing competition, keeping up with technology, and understanding customers to inform marketing planning.
The document outlines the 11 steps of the marketing research process: (1) establish need, (2) define problem, (3) set objectives, (4) determine design, (5) identify information sources, (6) determine data collection methods, (7) design collection forms, (8) determine sampling, (9) collect data, (10) analyze data, and (11) prepare and present report. Following these steps provides researchers with an overview of the entire process and a framework to systematically conduct research and solve marketing problems. The steps are interactive and not always linear, allowing flexibility based on each unique research need.
This document provides an overview of internet marketing. It discusses how the internet supports the modern marketing concept by integrating organizational functions and facilitating information management. The internet is defined as a new marketing medium that can be used to achieve marketing objectives. Businesses can benefit from increased market penetration, development, product development, and diversification. The internet also allows for new marketing communications approaches and strategies across management levels. Risks include focusing too narrowly on existing products or technology over customer needs.
Unit 9 covers marketing information management and marketing research. Chapter 28 discusses marketing research and the purpose of gathering market information. It defines marketing research as the process of gathering, analyzing, and reporting information related to marketing goods and services. A marketing information system is a set of procedures that regularly generates, stores, analyzes and distributes information for use in business decisions. Chapter 28 also discusses types of marketing research like quantitative research, qualitative research, attitude research, market intelligence, media research and product research. Chapter 29 continues the discussion of conducting various types of marketing research.
The document discusses marketing research and forecasting demand. It covers the marketing research process in 10 steps: 1) justify need, 2) define problem and objectives, 3) identify data needs, 4) identify data sources, 5) choose research design, 6) design instrument, 7) identify sample, 8) collect data, 9) analyze data, 10) present findings. It also discusses forecasting total market demand using variables like number of buyers, quantity purchased, and price. Key variables that impact forecasting include demographics, economics, sociocultural factors, and technology.
This document provides an overview of key marketing concepts from a global perspective. It begins by defining marketing as the process of planning, pricing, promoting and distributing goods and services to create value for customers. The marketing mix of product, price, place and promotion is discussed. The document also distinguishes between marketing and sales, explores the scope of what can be marketed, and covers core concepts like customer needs, value, and the marketing environment. Key frameworks are summarized, including the marketing system, 4Ps and 4Cs, and the strategic marketing process. The roles of various stakeholders in marketing are also outlined.
CSCM Chapter 4 customer and market segmentation cscmEst
This document discusses market segmentation and how to segment a market. It describes 6 key steps to segmenting a market: 1) Define the market, 2) Create market segments, 3) Evaluate segment viability, 4) Construct segment profiles, 5) Evaluate segment attractiveness, and 6) Select target market. It also discusses types of segmentation including demographic, behavioral, psychographic, and geographic segmentation. Important criteria for effective market segments are that they are homogeneous within and heterogeneous between segments, substantial in size, and operational to implement marketing strategies. Market segmentation can help companies better understand customer needs and capture more sales in niche markets.
The document provides an overview of the concepts and practices of marketing research. It discusses how marketing research helps improve decision making by providing relevant, accurate and timely information. It outlines the marketing research process and different types of marketing research including programmatic, selective and evaluative research. It also discusses the growing importance of international marketing research given increased globalization. Finally, it discusses how marketing research data can be organized and stored in databases and retrieved using a decision support system to provide useful information to managers.
Principles of Marketing Philippine Managing Information and Marketing ResearchDr. John V. Padua
This document provides an overview of managing information and marketing research. It discusses the importance of information to companies and defines marketing research. The marketing information system is introduced as consisting of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute timely and accurate information. The four main steps in the marketing research process are outlined as defining the problem, developing a research plan, implementing the plan, and reporting findings.
Marketing research involves collecting, organizing, analyzing, and communicating information to make informed marketing decisions. It helps complement marketing strategies by enabling educated decisions on target markets, branding, and products/services. Key steps include defining problems, collecting primary and secondary data, analyzing and interpreting data, reaching conclusions, and implementing findings. Online research assists with various phases using computer networks and the Internet. Market research agencies in India provide specialized services across industries.
This file is related with the Business Research subject based on the Chapter of Customer Driven Marketing Strategy ,Chapter No.11 of Contemporary issues in Business.
Entrepreneurs need marketing research to gather missing information and update plans over time as their businesses evolve. While some myths suggest research is too expensive, entrepreneurs can conduct low-cost experiments and surveys using methods like focus groups, mall intercepts, and convenience sampling. Effective low-cost research involves designing surveys with clear hypotheses, pre-testing questions, and using simple scales and language understood by all respondents.
This document discusses market research and different types of market research firms. It defines market research as researching the immediate competitive environment, including customers, competitors, suppliers, and retailers. Marketing research includes all of this plus companies' strategies and the wider operating environment. External market research firms are categorized as syndicated service research firms, custom market research firms, or specialty line research firms. Conducting market research in new product development can help shape products to customer needs/wants, point out successes/failures before launch, and save time and money. Market research can also be categorized by source, methodology, and objectives.
What we can do in Retail analytics by bhawani nandanprasadBhawani N Prasad
1. The document discusses various retail analytics strategies and solutions including: retail product life cycle price optimization, markdown optimization for short and long life cycle products, data mining for price optimization, key value item analysis, assortment and space optimization, market basket analytics, optimization intelligence reporting, promotion strategy and measurement, social commerce, and cluster analysis.
2. The solutions aim to optimize pricing, promotions, inventory, and assortments to increase sales and profits through techniques like price elasticity analysis, simulation, localization, and predictive analytics.
3. Benefits cited include increased sales 1-12%, gross margin gains 2-20%, ROI of $10-20 for every $1 invested, and better decision making through
This document provides an overview of market research, including definitions, features, objectives, functions, scope, and process. Some key points:
1. Market research is defined as the systematic gathering, recording and analysis of data about problems relating to marketing goods and services. It helps solve marketing problems and aid decision-making.
2. It is a systematic process that collects, records, analyzes data to solve marketing problems. It provides information to marketing managers to make decisions.
3. The scope of market research includes researching products, consumers, packaging, pricing, advertising, sales, distribution, policies, international markets, and motivation.
4. The market research process involves defining objectives, designing the research,
Taking the Higher Ground in Category ManagementJosh Stancil
This presentation, given at ProcureCon Indirect West 2019, focuses on how to break down the barriers to category management excellence. Procurement teams generally feel that there are four barrier preventing them from effectively implementing a category management program today: they don't have the right data; they don't have the capabilities to process and analyze the data; they don't have the category knowledge; and there is no clear ROI for category management.
In this presentation, Doug Van Wingerden from Insight Sourcing Group builds the case for category management ROI and shows you how you can break down the final three barriers and drive up to an additional 20% in savings.
This document provides an overview of business-to-business (B2B) marketing. It discusses key topics such as organizational buying behavior, relationship management, segmenting the B2B market, and managing products, services, price, channels, and communications for B2B. It also covers case studies and the differences between industrial and consumer marketing. The document is intended as an introduction and outline for the subject of B2B marketing.
Presentation made for students of Garware Institute, Kalina - PG Dip in Advertising and Media.
An overview of what is Market Research with different types of research. How they are useful,
Market research known as the process of gathering, analyzing and interpreting information about a market, about a product or service to be offered for sale in that market, and about the past, present and potential customers for the product or service. But what about marketing research, and what is the difference between them and which one do I need in my business.
That's all would be in our presentation, we hope you all like it and find it interesting.
Purchasing Policy and Procedures | Policies provide guidance and direction | ...FaHaD .H. NooR
Purchasing Policy and Procedures | Policies provide guidance and direction | Role of purchasing
Conduct of purchasing personnel
Social and minority business objectives
Buyer-supplier relationships
Operational issues
| Purchasing procedures |
This slide provides a quick overview of different aspects of marketing research. This ppt is expected to help researchers, faculties, and students to understand various aspects of Research and especially 'Marketing Research'.
Youtube link of the video in ppt: https://www.youtube.com/watch?v=Mm0g8mVHffE&feature=youtu.be
Marketing information system collects, analyzes, and distributes market data to help marketing managers make decisions. It provides three types of information: recurrent for regular updates, monitoring for scanning external sources, and requested for specific needs. The system sources data internally from sales, costs, and financial records, and externally from marketing research. It is important for anticipating customer demand, taking a systematic approach, understanding economic indicators, analyzing competition, keeping up with technology, and understanding customers to inform marketing planning.
The document outlines the 11 steps of the marketing research process: (1) establish need, (2) define problem, (3) set objectives, (4) determine design, (5) identify information sources, (6) determine data collection methods, (7) design collection forms, (8) determine sampling, (9) collect data, (10) analyze data, and (11) prepare and present report. Following these steps provides researchers with an overview of the entire process and a framework to systematically conduct research and solve marketing problems. The steps are interactive and not always linear, allowing flexibility based on each unique research need.
This document provides an overview of internet marketing. It discusses how the internet supports the modern marketing concept by integrating organizational functions and facilitating information management. The internet is defined as a new marketing medium that can be used to achieve marketing objectives. Businesses can benefit from increased market penetration, development, product development, and diversification. The internet also allows for new marketing communications approaches and strategies across management levels. Risks include focusing too narrowly on existing products or technology over customer needs.
Unit 9 covers marketing information management and marketing research. Chapter 28 discusses marketing research and the purpose of gathering market information. It defines marketing research as the process of gathering, analyzing, and reporting information related to marketing goods and services. A marketing information system is a set of procedures that regularly generates, stores, analyzes and distributes information for use in business decisions. Chapter 28 also discusses types of marketing research like quantitative research, qualitative research, attitude research, market intelligence, media research and product research. Chapter 29 continues the discussion of conducting various types of marketing research.
The document discusses marketing research and forecasting demand. It covers the marketing research process in 10 steps: 1) justify need, 2) define problem and objectives, 3) identify data needs, 4) identify data sources, 5) choose research design, 6) design instrument, 7) identify sample, 8) collect data, 9) analyze data, 10) present findings. It also discusses forecasting total market demand using variables like number of buyers, quantity purchased, and price. Key variables that impact forecasting include demographics, economics, sociocultural factors, and technology.
EST 200, Identifying Customer RequirementsCKSunith1
The attached narrated power point presentation explains the methods and skills for conducting market analysis for identifying customer priorities and organising customer requirements. The material will be useful for KTU second year Electronics and Communication Engineering students who prepare for the subject EST 200, Design and Engineering.
This document provides an overview of marketing information systems and related concepts. It discusses how marketing information systems help inform important marketing decisions through the systematic collection, analysis, and dissemination of internal and external market data. The key components of a marketing information system are described as internal records, marketing intelligence, marketing research, and decision support systems. Marketing intelligence activities like market analysis, customer segmentation analysis, competitor analysis, and industry analysis are explained. The importance of understanding online customers through tools like web analytics, machine learning, and AI is also highlighted.
This document outlines the marketing research process in 11 steps: 1) Establishing the need for research, 2) Defining the problem, 3) Establishing research objectives, 4) Determining the research design, 5) Identifying information types and sources, 6) Determining data collection methods, 7) Designing data collection forms, 8) Determining sample size and plan, 9) Collecting data, 10) Analyzing data, and 11) Preparing and presenting the final report. The steps involve defining the marketing problem, designing the research, collecting and analyzing data, and communicating results to solve the problem.
By now you've probably heard enough times the importance of metrics. In the initial stages of a startup there isn't a lot of data, so we need to get some! There are some crucial initial steps you need to take to get set and collect metrics. In this talk I'll present how to take an initial snapshot, setup some initial metrics to track your progress, align them with milestones, and how you can use those metrics to guide your decision making and spend your limited time wisely.
This document provides an overview of Procter & Gamble's efforts to implement a consumer-focused supply network. It discusses how changing consumer and retailer expectations necessitate more agile, demand-driven supply chains. P&G aims to shift from forecast-based production to producing to actual consumer demand. The key aspects of P&G's consumer-driven supply network approach are reliable service, agile demand-driven supply, and affordable differentiation. The document outlines steps P&G is taking to change its culture and relationships to become more externally focused on consumers and customers. It also discusses initiatives to build internal capabilities to better synchronize information and operations across the supply chain.
The document discusses various steps and concepts related to identifying business opportunities including generating ideas, screening opportunities, formulating business concepts, and conducting market analysis. It describes scanning the external environment to identify customer needs and macro trends. The screening process involves analyzing opportunities at the personal and firm level. Methods of collecting market intelligence like surveys and publications are outlined. Conducting an environmental analysis and identifying threats and opportunities is described as part of formulating the business concept. Key aspects of market analysis like market size, segments, trends, and industry cost structure are also summarized.
The document discusses the importance of conducting a market analysis before launching a new business venture or product. It defines key aspects of a market that should be analyzed, including market size, segments, trends, growth rate, profitability, industry cost structure, distribution channels, and key success factors. Understanding these dimensions through primary and secondary research helps determine customer needs and identify business opportunities to effectively target the market.
The document discusses purchasing and vendor management. It defines purchasing as procuring supplies efficiently with the right quality, quantity, source, time and price. Purchasing can be viewed as a function, process, relationship or discipline. Key aspects include globalization, IT, supplier relationships, quality and lead times. The purchasing process involves identifying needs, evaluating suppliers, selection, approval and performance measurement. Integration occurs through teams and strategies like early supplier involvement improve purchasing.
This document discusses purchasing and vendor management. It defines purchasing as procuring supplies efficiently with the right quality, quantity, source, time and price. Purchasing can be a function, process, relationship or part of the supply chain. The document outlines the purchasing process cycle and how purchasing has evolved and integrated more over time. It discusses strategies like early supplier involvement, supplier development, and e-reverse auctions. It also covers supplier performance measurement, relationships, and the benefits of centralized vs decentralized purchasing structures.
This document summarizes research conducted for three different clients. For a retailer client, the research included store analysis, customer profiling, focus groups, and a market survey to understand customers and competitors better. Based on the findings, the retailer redesigned stores and marketing. For a direct marketer, focus groups provided insights to improve response rates. A B2B client's website was redesigned based on a usability test program. The research matched methods like surveys, groups, and analysis to address specific client goals.
This document summarizes parts of a consumer survey conducted online. It discusses using conjoint analysis to understand how consumers value different product attributes. Respondents were asked questions about shopping habits, resources used to discover products, what's important when shopping in stores, and checkout preferences. Later sections addressed brand association, recognition of product packaging, and effectiveness of television ads. The goal of marketing research is to understand how changes to marketing mix elements impact consumer behavior.
The document outlines key performance indicators (KPIs) for sales analysis. It discusses steps for setting KPIs, including understanding business goals, segmenting the sales process, and identifying relevant metrics. Examples are provided for setting KPIs for a supermarket and life insurance sales process. The document also provides an example of setting KPIs for an FMCG distribution business to increase market share within a year.
Introduction to Sales Management – The Sales Organization
– Determining Sales Related Marketing Policies – Sales
Functions and Policies – International Sales Management
– Personal Selling.
Sales Planning – Sales Budgets – Estimating Market
Potential and Forecasting Sales – Sales Quotes – Sales &
Cost Analysis, Sales Force Management: Hiring and Training Sales
Personnel – Time and Territory Management –Compensating Sales Personnel – Motivating the Sales Force
– Leading the Sales Force – Evaluating Sales Force
Performance.
Marketing Logistics - Distribution as Marketing Mix
Element – Distribution Resource Planning – Marketing
Channel Integration – Channel Management – Nature of
Marketing Channels – Evaluating Channel Performance-
Specialized Techniques in selling – Tele Marketing – Web
Marketing
Distribution Cost Analysis: Managing Channel Conflicts –
Channel Information Systems – Wholesaling – Retailing –
Ethical And Social Issues in Sales and Distribution
Management.
The document provides an overview of key marketing concepts including defining marketing, the marketing mix (4Ps and 7Ps), market research methods, market segmentation, and selecting target markets. Specifically, it discusses:
1) Marketing involves identifying consumer needs and developing products to satisfy those needs through exchange processes. The marketing mix includes product, price, place, and promotion.
2) Primary and secondary research methods can be used to understand markets. Common primary methods are surveys, interviews, focus groups, and observation.
3) Markets can be segmented based on geographic, demographic, behavioral, and psychographic factors to help target specific groups. This includes understanding characteristics like age, income, lifestyle, and social class.
Factors to Consider When Choosing the Right Solar.pptxSolar Dynamite
Learn how to buy solar leads to boost your business. Discover proven strategies for acquiring qualified solar leads and increasing your sales. Get started today and watch your solar business shine with new opportunities.
The document outlines the 5 steps in the marketing research process: 1) Defining objectives and research needs, 2) Designing the research, 3) Data collection process, 4) Analyzing data and developing insights, and 5) Action plan and implementation. It discusses types of secondary and primary data collection techniques, both qualitative (e.g., focus groups) and quantitative (e.g., surveys, experiments). The advantages and disadvantages of secondary and primary data are also compared. Key terms related to marketing research methods and data types are defined.
This document provides an overview of marketing information systems. It defines marketing information systems and outlines their key characteristics and components. The marketing research process and various techniques are also described. The document emphasizes that marketing information systems are important as they help businesses understand customer needs, evaluate market trends, make informed decisions, and develop effective marketing strategies through systematic collection and analysis of data.
This document discusses the importance of conducting market research before launching a new product or service. It outlines several key objectives of market research, including understanding the target market and customers' needs and perspectives. The document then provides guidance on assessing the relevant market, identifying competitors and their offerings, determining the target audience, and understanding what customers want and how they will perceive the new offering. A variety of qualitative and quantitative primary and secondary research methods are described to help gather customer insights and competitive intelligence needed to ensure market feasibility and success.
1. The document discusses developing an effective advertising program, including setting objectives, deciding budgets, developing campaigns, choosing media types and measuring impact.
2. It also covers sales promotion tactics, holding brand-building events, and exploiting public relations through news, events and published materials to build interest and influence target groups.
3. Key aspects of advertising discussed include the creative brief, media scheduling patterns, and metrics like share of voice and market that can evaluate advertising effectiveness.
This document discusses integrated marketing communications and the process of developing an effective communications strategy. It covers identifying the target audience, setting objectives, designing communications, selecting channels, establishing a budget, deciding on the marketing mix, managing the integrated marketing communications program, and measuring results. Key aspects of an ideal advertising campaign are exposing the right consumer to the message at the right time, gaining attention, reflecting consumer understanding, correctly positioning the brand, and motivating purchase.
This document summarizes key concepts about retail marketing intermediaries from Chapter 14 of BMGT 411. It discusses the major types of retailers like specialty stores, department stores, supermarkets, and superstores. It also covers trends in retailing like the growth of non-store selling and pop-up stores. Additionally, it examines topics such as private label brands, supply chain management, and multichannel marketing strategies.
This document discusses various personal marketing channels that companies can use, including direct mail, email, display advertising, search engine optimization (SEO), search engine marketing (SEM), and social media marketing. It provides details on how to create effective direct mail and email marketing campaigns, and highlights advantages and disadvantages of different personal marketing approaches. The best marketing strategy incorporates multiple channels, with the first steps being building a strong website and developing email and social media lists.
The document discusses elements that should be included in a marketing research report, including the importance of the report, formatting, and use of visualizations. It provides guidelines for each section of the report such as the introduction, methods, results, conclusions and recommendations. The document also discusses best practices for presenting research orally and avoiding plagiarism. Key visualization tools mentioned include tables, graphs, pie charts and bar charts. Formatting elements covered include the title page, table of contents, references, and appendices.
This document provides an overview of regression analysis techniques used in marketing research. It describes bivariate regression, which uses one independent variable to predict another dependent variable. It then explains multiple regression, which uses two or more independent variables to predict a dependent variable. The document provides an example of a multiple regression equation predicting consumer intention to purchase a Lexus. It also outlines key assumptions and concepts in multiple regression like determining which variables influence the dependent variable and by how much.
This document discusses different types of associative analyses used to determine relationships between two variables, including cross-tabulations and chi-square analysis for nominal variables and correlations for metric variables. It explains that cross-tabulations show frequencies of variables in rows and columns and chi-square analysis determines if variables are significantly related by comparing observed and expected frequencies. Correlations quantify the strength and direction of linear relationships between metric variables on a scale of -1 to 1. Associative analyses help identify consistent patterns between variables.
This document discusses methods for testing differences between groups, including t-tests, z-tests, and ANOVA. It provides examples of how to test for significant differences between percentages and means of two independent groups. Key points covered include determining if a difference is statistically significant, using ANOVA to compare means of three or more groups, and properly reporting difference test results to clients.
The document discusses descriptive statistical analysis techniques used in marketing research such as measures of central tendency, variability, frequency distributions, and hypothesis testing. It provides examples of how to calculate the mean, median, mode, and range of a data set and construct a frequency distribution table. The document also demonstrates how to conduct a hypothesis test to determine if a sample provides sufficient evidence to support or reject a hypothesized population parameter value.
This document discusses non-sampling errors that can occur during survey data collection and how to minimize them. It identifies four main types of non-sampling error: nonresponse error, data collection errors, data handling errors, and data analysis/interpretation errors. It also describes different types of errors that can occur during data collection, including fieldworker errors, respondent errors, intentional errors, and unintentional errors. Finally, it discusses ways to calculate response rates, measure nonresponse error, and control for errors during data collection such as using supervision, role-playing, and incentives.
This document discusses determining appropriate sample sizes for research studies. It covers key concepts like the relationship between sample size, accuracy, and sampling error. The confidence interval approach is presented as a method for calculating sample sizes based on desired confidence levels, population variability, and margin of error. Formulas for sample size, margin of error, and small population adjustments are provided. Examples show how to apply the concepts and calculate sample sizes for different research scenarios. Practical considerations like estimating variability and determining acceptable error are also addressed.
This chapter discusses marketing channels and the decisions involved in designing integrated channel systems. It addresses the following key points:
1) A marketing channel system involves the set of organizations that make a product available to consumers, moving the product from production through various intermediaries until purchase.
2) Companies must decide whether to use a "push" strategy of inducing intermediaries to sell their product or a "pull" strategy of advertising directly to consumers.
3) When designing channel systems, companies analyze customer needs, establish objectives, identify alternatives like types/number of intermediaries, and evaluate costs and fit with customers.
4) Managing channels involves selecting and training members, evaluating performance over time, and addressing conflicts
Marketing research plan project project bmgt 311_atChris Lovett
This document outlines a marketing research group project for AthleteTrax, a startup that provides cloud-based team management solutions. The project involves conducting competitive, secondary, and primary marketing research to determine the best digital marketing channels for AthleteTrax's target markets of college club sports teams, youth sports leagues, and sanctioned high school sports. Deliverables include a 15-minute presentation and written report following the marketing research framework, along with a 2015 marketing event calendar for AthleteTrax.
Marketing research plan project project bmgt 311Chris Lovett
This document outlines a marketing research group project for students to conduct for the Pittsburgh Cultural Trust. The goal is to help the Trust target younger donors aged 25-45 and identify how to attract this demographic. Students will use secondary research tools to analyze the target market and make recommendations, including developing and distributing an online survey. Key deliverables are a 15-minute presentation of recommendations to the Trust and a written report following the marketing research process discussed in class. The project aims to provide strategic recommendations to help the Trust attract more young donors.
This syllabus outlines the course requirements and policies for a Marketing Research course taught at Point Park University. The key aspects are:
- The course is 3 credits and meets on Saturdays from 8:30am to 12:30pm. It focuses on analyzing and interpreting marketing research findings through case studies and a digital marketing focus.
- Students will complete a semester-long marketing research project, take two exams, submit five article reviews, and participate in class activities and discussions.
- The required textbook is "Marketing Research" by Alvin Burns and Ronald Bush. Students will learn about research design, sampling, data analysis, and presenting findings.
- Attendance is required and students must complete
This syllabus outlines the course objectives, requirements, schedule, and policies for a Marketing Research course at Point Park University. The key points are:
- The course will focus on digital marketing research and teach students how to analyze data, design and conduct surveys, and draw strategic conclusions from research findings.
- Major assignments include a marketing research project, 3 exams, and 5 article reviews presented in class. The project involves developing a research plan and presenting findings.
- The course will be taught through lectures, discussions, guest speakers and in-class activities. It covers topics like secondary research, survey design, sampling, and data analysis over 16 weeks.
- Students will be evaluated based on the project,
This chapter discusses key concepts in sampling, including different types of probability and non-probability sampling methods. It defines important sampling terms like population, sample, sampling frame and sampling error. It then explains four probability sampling techniques: simple random sampling, systematic sampling, cluster sampling and stratified sampling. It also outlines four non-probability sampling methods: convenience sampling, purposive sampling, referral sampling, and quota sampling. The chapter concludes with a discussion of online sampling techniques.
The document discusses developing pricing strategies and programs, outlining steps such as determining demand, estimating costs, analyzing competitors, and selecting a final price. It also covers pricing considerations like differentiated pricing for segments, products, and channels. Various pricing methods are presented such as markup pricing, target return pricing, and perceived value pricing.
This chapter discusses services and how they differ from goods. It defines services as intangible acts that do not result in ownership. Services are classified on a continuum from pure tangible goods to pure services. Key characteristics of services include intangibility, inseparability, variability, and perishability. The chapter also covers new service realities like customer empowerment through social media. It discusses ways to improve service quality such as managing customer expectations and addressing the gaps in service quality. Determinants of high service quality are listed as reliability, responsiveness, assurance, empathy, and tangibles.
Strategic marketing plan project individual project bmgt 411Chris Lovett
Students will develop a strategic marketing plan for AthleteTrax, a startup that provides cloud-based team management solutions. The plan will focus on growing usage among college club sports teams and identifying key target markets to increase youth sports adoption. It will connect marketing to sales through brand ambassadors and develop an interactive marketing strategy using channels like Google AdWords, Facebook advertising, and Twitter promoted tweets. Students will analyze AthleteTrax's competitors and recommend tactics for 2015 including a budget, calendar of activities, and metrics to measure success. Deliverables include a 15-minute presentation and written report with the marketing plan recommendations.
Starting a business is like embarking on an unpredictable adventure. It’s a journey filled with highs and lows, victories and defeats. But what if I told you that those setbacks and failures could be the very stepping stones that lead you to fortune? Let’s explore how resilience, adaptability, and strategic thinking can transform adversity into opportunity.
How are Lilac French Bulldogs Beauty Charming the World and Capturing Hearts....Lacey Max
“After being the most listed dog breed in the United States for 31
years in a row, the Labrador Retriever has dropped to second place
in the American Kennel Club's annual survey of the country's most
popular canines. The French Bulldog is the new top dog in the
United States as of 2022. The stylish puppy has ascended the
rankings in rapid time despite having health concerns and limited
color choices.”
Storytelling is an incredibly valuable tool to share data and information. To get the most impact from stories there are a number of key ingredients. These are based on science and human nature. Using these elements in a story you can deliver information impactfully, ensure action and drive change.
Unlocking WhatsApp Marketing with HubSpot: Integrating Messaging into Your Ma...Niswey
50 million companies worldwide leverage WhatsApp as a key marketing channel. You may have considered adding it to your marketing mix, or probably already driving impressive conversions with WhatsApp.
But wait. What happens when you fully integrate your WhatsApp campaigns with HubSpot?
That's exactly what we explored in this session.
We take a look at everything that you need to know in order to deploy effective WhatsApp marketing strategies, and integrate it with your buyer journey in HubSpot. From technical requirements to innovative campaign strategies, to advanced campaign reporting - we discuss all that and more, to leverage WhatsApp for maximum impact. Check out more details about the event here https://events.hubspot.com/events/details/hubspot-new-delhi-presents-unlocking-whatsapp-marketing-with-hubspot-integrating-messaging-into-your-marketing-strategy/
Call8328958814 satta matka Kalyan result satta guessing➑➌➋➑➒➎➑➑➊➍
Satta Matka Kalyan Main Mumbai Fastest Results
Satta Matka ❋ Sattamatka ❋ New Mumbai Ratan Satta Matka ❋ Fast Matka ❋ Milan Market ❋ Kalyan Matka Results ❋ Satta Game ❋ Matka Game ❋ Satta Matka ❋ Kalyan Satta Matka ❋ Mumbai Main ❋ Online Matka Results ❋ Satta Matka Tips ❋ Milan Chart ❋ Satta Matka Boss❋ New Star Day ❋ Satta King ❋ Live Satta Matka Results ❋ Satta Matka Company ❋ Indian Matka ❋ Satta Matka 143❋ Kalyan Night Matka..
Cover Story - China's Investment Leader - Dr. Alyce SUmsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
SATTA MATKA SATTA FAST RESULT KALYAN TOP MATKA RESULT KALYAN SATTA MATKA FAST RESULT MILAN RATAN RAJDHANI MAIN BAZAR MATKA FAST TIPS RESULT MATKA CHART JODI CHART PANEL CHART FREE FIX GAME SATTAMATKA ! MATKA MOBI SATTA 143 spboss.in TOP NO1 RESULT FULL RATE MATKA ONLINE GAME PLAY BY APP SPBOSS
Profiles of Iconic Fashion Personalities.pdfTTop Threads
The fashion industry is dynamic and ever-changing, continuously sculpted by trailblazing visionaries who challenge norms and redefine beauty. This document delves into the profiles of some of the most iconic fashion personalities whose impact has left a lasting impression on the industry. From timeless designers to modern-day influencers, each individual has uniquely woven their thread into the rich fabric of fashion history, contributing to its ongoing evolution.
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This presentation is a curated compilation of PowerPoint diagrams and templates designed to illustrate 20 different digital transformation frameworks and models. These frameworks are based on recent industry trends and best practices, ensuring that the content remains relevant and up-to-date.
Key highlights include Microsoft's Digital Transformation Framework, which focuses on driving innovation and efficiency, and McKinsey's Ten Guiding Principles, which provide strategic insights for successful digital transformation. Additionally, Forrester's framework emphasizes enhancing customer experiences and modernizing IT infrastructure, while IDC's MaturityScape helps assess and develop organizational digital maturity. MIT's framework explores cutting-edge strategies for achieving digital success.
These materials are perfect for enhancing your business or classroom presentations, offering visual aids to supplement your insights. Please note that while comprehensive, these slides are intended as supplementary resources and may not be complete for standalone instructional purposes.
Frameworks/Models included:
Microsoft’s Digital Transformation Framework
McKinsey’s Ten Guiding Principles of Digital Transformation
Forrester’s Digital Transformation Framework
IDC’s Digital Transformation MaturityScape
MIT’s Digital Transformation Framework
Gartner’s Digital Transformation Framework
Accenture’s Digital Strategy & Enterprise Frameworks
Deloitte’s Digital Industrial Transformation Framework
Capgemini’s Digital Transformation Framework
PwC’s Digital Transformation Framework
Cisco’s Digital Transformation Framework
Cognizant’s Digital Transformation Framework
DXC Technology’s Digital Transformation Framework
The BCG Strategy Palette
McKinsey’s Digital Transformation Framework
Digital Transformation Compass
Four Levels of Digital Maturity
Design Thinking Framework
Business Model Canvas
Customer Journey Map
During the budget session of 2024-25, the finance minister, Nirmala Sitharaman, introduced the “solar Rooftop scheme,” also known as “PM Surya Ghar Muft Bijli Yojana.” It is a subsidy offered to those who wish to put up solar panels in their homes using domestic power systems. Additionally, adopting photovoltaic technology at home allows you to lower your monthly electricity expenses. Today in this blog we will talk all about what is the PM Surya Ghar Muft Bijli Yojana. How does it work? Who is eligible for this yojana and all the other things related to this scheme?
𝐔𝐧𝐯𝐞𝐢𝐥 𝐭𝐡𝐞 𝐅𝐮𝐭𝐮𝐫𝐞 𝐨𝐟 𝐄𝐧𝐞𝐫𝐠𝐲 𝐄𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐜𝐲 𝐰𝐢𝐭𝐡 𝐍𝐄𝐖𝐍𝐓𝐈𝐃𝐄’𝐬 𝐋𝐚𝐭𝐞𝐬𝐭 𝐎𝐟𝐟𝐞𝐫𝐢𝐧𝐠𝐬
Explore the details in our newly released product manual, which showcases NEWNTIDE's advanced heat pump technologies. Delve into our energy-efficient and eco-friendly solutions tailored for diverse global markets.
The Most Inspiring Entrepreneurs to Follow in 2024.pdfthesiliconleaders
In a world where the potential of youth innovation remains vastly untouched, there emerges a guiding light in the form of Norm Goldstein, the Founder and CEO of EduNetwork Partners. His dedication to this cause has earned him recognition as a Congressional Leadership Award recipient.
The Genesis of BriansClub.cm Famous Dark WEb PlatformSabaaSudozai
BriansClub.cm, a famous platform on the dark web, has become one of the most infamous carding marketplaces, specializing in the sale of stolen credit card data.
Prescriptive analytics BA4206 Anna University PPTFreelance
Business analysis - Prescriptive analytics Introduction to Prescriptive analytics
Prescriptive Modeling
Non Linear Optimization
Demonstrating Business Performance Improvement
AI Transformation Playbook: Thinking AI-First for Your BusinessArijit Dutta
I dive into how businesses can stay competitive by integrating AI into their core processes. From identifying the right approach to building collaborative teams and recognizing common pitfalls, this guide has got you covered. AI transformation is a journey, and this playbook is here to help you navigate it successfully.
3. BMGT 411: Chapter 3
• Marketing Information System: Consists of people, equipment, and
procedures to gather, sort, analyze, evaluate and distribute needed, timely
information to marketing decision makers
• Internal Company Records: CRM Systems are an effective system for
marketers
• Marketing Intelligence: Competitive and Industry Analysis
• Marketing Research: Primary and Secondary
3
8. BMGT 411: Chapter 3
• Step #1: Justify the need for marketing research. If there is no need, kill the project
here.
• How will this marketing research help you improve sales?
• How will the marketing research help solve a problem?
• How will the marketing research identify a target market?
Four Considerations
1. Potential usefulness of the results
2. Management attitudes towards marketing research
3. Resources available for implementation
4. Costs vs. benefits
8
9. BMGT 411: Chapter 3
• Step #2: Define the problem and research objectives
• Problem and objectives should be very clear
• Problem or objectives should help define what type of research is needed
Types of Research
1. Exploratory: To investigate a general problem and possible solutions
2. Descriptive: Very specific to help forecast demand or likeness
3. Causal: To test a cause and effect relationship when adding variables
9
10. BMGT 411: Chapter 3
• Step #3: Identify data needs
• What type of information are you looking for
• Scrutinize the research purpose
• List the types of data that will fulfill this purpose
10
11. BMGT 411: Chapter 3
• Step #4: Identify data sources. If the data can be acquired using existing
secondary research, you may be able to skip to step #9
• Primary Data
• Data obtained directly from consumer to fulfill a specific purpose
• More expensive approach
• Secondary Data
• Data that are readily available from other sources
• Internal or external
• Often less expensive to use
11
12. BMGT 411: Chapter 3
• Step #5: Choose an appropriate research design and data collection method
Research Proposal
• Serves as a blueprint for the execution of the product
• Explains
• Purpose and scope of the project
• The specific design of the project
• Sample design
• Data collection procedures
• The data analysis plan
• The project timetable
12
13. BMGT 411: Chapter 3
• Step #5: Main Types of Marketing Research Approaches
Quantitative:
•Survey Research
•Behavioral Data
•Experimental research
Qualitative:
•Observation
•Focus Groups
13
14. BMGT 411: Chapter 3
• Step #6: Design the Research Instrument of Form
1. Questionnaires: Most common due to flexibility
2. Qualitative Measures: Unstructured and often revealing
3. Technological Devices: Often measures body’s reactions
to applied stimulation
14
15. BMGT 411: Chapter 3
• Step #7: Identify the sample
1. Sampling Unit: Whom should we survey?
2. Sample Size: How many people should we survey?
3. Sampling Procedure: How should respondents be
chosen?
15
16. BMGT 411: Chapter 3
• Step #8: Collect the Data
• In Person: Very expensive and time consuming
• Phone: Still popular, assisted by computers
• Mail: Dying form of collection
•Online: Popular and inexpensive (www.surveymonkey.com)
16
18. BMGT 411: Chapter 3
• Step #10: Present Research Findings and
Recommendations
• Often the Most important part of the process
•Should be visual and easy to understand
•Recommendations should tie back to research
objective
18
21. Forecasting:
The art of estimating future
demand by anticipating what
buyers are likely to do under a
given set of conditions.
21
22. BMGT 411: Chapter 3
• Potential Market: Set of consumers with a sufficient level of interest in a market
offer
• Available Market: Set of consumers who have interest, income, and access to a
particular offer
• Target Market: The part of the available market the company decides to pursue
• Penetrated Market: The set of consumers who are buying the companies
product
22
23. BMGT 411: Chapter 3
• Methods to Grow Sales:
1.Attract more buyers from the target market
2. Lower qualifications for potential buyers
3. Expand it’s market by adding stores, lowering price, or repositioning itself to
attract more buyers
23
24. BMGT 411: Chapter 3
• Total Market Demand Equation:
Q = n x q x p
Q = total market demand
n = number of buyers in the market
q = quantity purchased by an average buyer per year
p = price of an average unit
24
25. BMGT 411: Chapter 3
• US Car Total Market Potential
Q = n x q x p
Q = total market demand
n = 20,000,000
q = 1
p = $25,000
25
26. BMGT 411: Chapter 3
• US Car Total Market Potential
Q = 20,000,000 x 1 x 25,000
Q = 500,000,000
26
28. BMGT 411: Chapter 3
• Key Variables in Forecasting:
• Demographics
• Population Growth
• Population Age Mix
• Diversity
• Education
28
29. BMGT 411: Chapter 3
• Key Variables in Forecasting:
• Economics
• Consumer Psychology (Groupon Effect)
• Income Distribution
• Income, Savings, Debt, Credit
29
30. BMGT 411: Chapter 3
• Key Variables in Forecasting:
• Sociocultural
• Views of ourselves: Today, many gen y’ers are showing behaviors similar to the greatest generation (Saving, etc)
• Views of others
• Views of organizations
• Views of Society
• Views of nature
• Views of the universe
30
37. Building Customer
Value and Satisfaction
• Customer perceived value (CPV)—the
difference between the prospective
customer’s evaluation of all the benefits and
all the costs of an offering and the
perceived alternatives.
37
38. Determinants of Customer Perceived
Value (CPV)
• Total customer value
• Product value
• Services value
• Personnel value
• Image value
• Total customer cost
• Monetary cost
• Time cost
• Energy cost
• Psychic cost
38
39. Loyalty
• A deeply held commitment to re-buy or re-
patronize a preferred product or service in
the future despite situational influences and
marketing efforts having the potential to
cause switching behavior
• What product are you loyal to?
• Why?
39
41. Satisfaction
• A person’s feelings of pleasure or
disappointment that result from comparing
a product’s perceived performance (or
outcome) to expectations.
• What products or services exceed your
expectations?
• What would you do if a product or
service did not meet your expectations?
41
43. Product and Service
Quality
• Quality (or grade) is the totality of features and
characteristics of a product or service that bear
on its ability to satisfy stated or implied needs.
43
44. Marketers’ Roles in
Delivering Quality
• Correctly identifying customers’ needs and requirements
• Communicate customer expectations properly to product designers
• Be sure orders are filled correctly and on time
• Provide customers with proper instructions, training, and technical
assistance
• Stay in touch with customers after the sale
• Gather customer ideas for improvements and convey them to the
appropriate departments
• Who do you feel is managing quality performance good today?
44
46. Customer Profitability
• A profitable customer is one that over time
yields a revenue stream that exceeds by an
acceptable amount the company’s cost
stream for attracting, selling, and servicing
that customer.
46
47. Goal is to Maintain Profitable Customers
Shift Low Profit Customers Into Higher Profit Products Over Time
47
48. Customer Profitability
Analysis (CPA)
• Best conducted with an accounting
technique called Activity-Based Costing
(ABC).
• Estimate all revenue coming from the
customer, less all costs that go into serving
that customer.
48
49. Customer Lifetime
Value (CLV)
• Describes the net present value of the
stream of future profits expected over the
customer’s lifetime purchases.
49
51. CLV Importance
• Example: Grocery Store
• AverageYearly Spend: $5,200 (a)
• Average LifeSpan: 30Years (t)
• Using the simple equation, what is the average
Customer Life TimeValue of a Grocery Store
Customer?
• CLV = (a x t)
• 15,000 Customers in this segment
• Segment CLV = $2,340,000,000
51
52. Cultivating Customer
Relationships
• Customer relationship management (CRM)
is the process of carefully managing detailed
information about individual customers and
all customer “touch points” to maximize
customer loyalty.
52
53. CRM Best Practices
• Identify Prospects and Customers: Don’t go after everyone. Build
and mine a customer database with information from all channels and
customer touch points
• Differentiate customers in terms of (1) their needs and (2)
their value to the company: Defend aggressively your most valuable
customers, while trying to grow relationships with less profitable customers
• Interact with individual customers to improve your
knowledge about their individual needs and to build stronger
relationships
• Customize products, services, and marketing messages to
each customer
• Who do you feel is doing this well for you?
53
56. Customer Database and Database
Marketing
• Customer database—an organized
collection of comprehensive information
about individual customers or prospects
that is current, accessible, and actionable
for marketing purposes.
• Database marketing—the process of
building, maintaining, and using customer
databases and other databases to make
contact, facilitate transactions, and build
customer relationships.
56
57. Data Warehouse and
Datamining
• Data warehouse—organized data where
marketers can capture, query, and analyze it
to draw inferences about an individual
customer’s needs and responses.
• Datamining—statisticians extract useful
information about individuals, trends, and
segments from the mass of data.
57
58. Database Uses
• Identify the best prospects
• Match a specific offer with a specific
customer as a way to sell, cross-sell, and
up-sell
• Deepen customer loyalty by remembering
preferences and offering relevant incentives
and information
58
59. Downside of Database
Marketing and CRM
• Large investment
• Difficulty in getting everyone to be
customer oriented
• Not all customers want an ongoing
relationship
• Assumptions behind CRM may not always
hold true
59
60. Wigle Whiskey
• What kind of ideas do
you have to increase
long term loyalty?
• How should Wigle use
the CLV equation?
60
61. BMGT 411: Week #3
Wood: Chapter 2: Analyzing the Current Situation
61
63. Environmental Scanning and Analysis
Involves the analysis of :
Internal Factors,
External Factors, and
Competitive Factors.
2-2
63
64. The Macro- and Microenvironments
To formulate a flexible and practical marketing plan, one needs to
properly track and differentiate between macroenvironmental and
microenvironmental factors:
Macroenvironmental factors are broad forces that impact overall marketing strategy
and performance.
Microenvironmental factors more directly influence marketing strategies and activities.
Macroenvironmental factors: political-legal, economic, social-
cultural, technological, and ecological forces.
Microenvironmental factors: customers, competitors, channel
members, partners, suppliers, and employees.
2-3
64
65. SWOT Analysis
SWOT stands for:
Strengths
Weaknesses
Opportunities
Threats
A common way of organizing what you have learned from
the environmental scanning process.
Should be conducted for both your own firm and for key
competitors.
2-4
65
68. Internal Analysis: Offerings
Examining what the firm is currently offering in the way of
goods and services:
Affirm the role of each line and item.
Consider how the offerings contribute to relationships with distributors
and customers.
Assess fit with mission and resources.
2-8
68
69. Internal Analysis: Previous Results
Includes:
Sales (dollars and units)
Profitability
Other financial results
Helpful to look for trends in the data.
Helps separate the effective programs from the less-
effective programs.
2-9
69
70. Internal Analysis: Business Relationships
Includes relationships with:
Suppliers
Distributors
Other business partners
Examine:
Capacity
Quality
Value provided
2-10
70
71. Keys to Success:
Identify special factors most crucial to success.
Maintain focus on key priorities.
Warning Signs
Indicate potential problems with leveraging the keys to success and
performing as planned.
2-11
71
73. External Analysis: Political-Legal Trends
International, federal, state,
and local laws and
regulations:
Competitive behavior
Pricing
Taxation
Promotion
Distribution
Product liability
Labeling
Product purity, and
Other issues…
2-13
73
74. External Analysis: Economic Trends
Must keep an eye on
global, national, regional,
and local economic
trends.
Some measures typically
monitored:
Buying power
Income
Debt
Credit Usage
Consider foreign
exchange trends.
2-15
74
76. External Analysis: Demographic Trends
Key consumer demographic trends include:
Population growth
Population composition:
Age
Gender
Ethnic background
Religious background
Education
Occupation
Household size
Income
2-17
76
77. External Analysis: Bus. Demographic Trends
Size and growth of industries
Number of companies
Number of locations or branches
Number of employees
Sales revenues
2-18
77
78. External Analysis: Cross-Cultural Influences
Due to globalization, social and cultural trends may begin
in one market and then spread to others.
Cross-cultural trends represent potential opportunities for
marketers.
2-19
78
80. External Analysis: Ecological Trends
Potential impacts:
Availability of raw materials
Government regulations
Social attitudes
“greenwashing”: positioning goods and services as ecologically friendly, even
when they are not.
2-21
80
81. External Analysis: Competitors
Better understand market dynamics.
Anticipate competitor activities.
Identify:
Current competitors
Possible future competitors
Learn about the unique competitive advantages of each
competitor.
2-22
81