This document provides an overview of marketing information systems and demand measurement. It discusses the key components of a marketing information system, including the internal records system, marketing intelligence system, marketing research system, and marketing decision support system. Various methods for estimating current and future market demand are also outlined, such as total market potential, area market potential, and analyzing past sales trends. The document also discusses how marketing information systems are currently practiced in Nepal, noting that while large multinational companies utilize such systems, they are not widely used overall in the country.
Segmentation, Targeting and Positioning (STP)RitikaSingh267
STP -
1. Segmentation - Market segmentation is the process of
dividing a target market into smaller, more
defined categories.
It segments customers and audiences into
groups that share similar characteristics
such as demographics, interests, needs, or
location.
2. basis of segmentation - a) Demographics b) Geographic c) Psychographic d) Behavioral e) Benefit segmentation.
3. Advantages of segmentation - Helps distinguish one customer group from another within a given market.
Facilitates proper choice of target market.
Facilitates effective tapping of the market.
Helps divide the markets and conquer them.
Helps crystallize the needs of the target buyers.
Makes the marketing effort more efficient and economic.
4. Examples -
5. Effective market segmentation - Measurability (In terms of size and purchasing power)
Accessibility (Reached and served through suitable means of distribution of promotion)
Substantiality (Large and profitable)
Differentiability (Clearly distinguishable)
Action ability (To be effective makers of segmentation should be compatible with the manpower, financial and managerial resources)
6. Targeting - Targeting is a strategy that breaks a large market into smaller
segments to concentrate on a specific group of customers
within that audience.
Instead to trying to reach an entire market, a brand uses target
marketing to put their energy into connecting within a
specific, defined group within that market.
7. Targeting strategy - Undifferentiated Strategy
Concentrated Strategy
Differentiated Strategy
Micro – marketing Strategy
8. Mckinsey matrix
9. Positioning - Positioning refers to the place that a brand occupies in the minds of the customers and how it is distinguished from the products of the competitors and different from the concept of brand awareness.
10. Why positioning? - To create a distinct place of product & service or corporate in the minds of customer.
To provide a competitive edge to a product or an attempt to convey attractiveness of the product to the target market.
To give the target market reason of buying our product/service and then formulation of all strategies according to the customer perception.
11. Strategies of positioning
12. Final steps of framework - Symbolic positioning
Functional positioning
Experiential positioning
13. example of coca cola vs pepsi
To understand strategic planning, its linkage to strategic marketing and marketing management
To know how sales strategy is developed from marketing strategy
To learn basic terms used in forecasting, forecasting approaches, and methods of sales forecasting
To understand purposes and the process of sales budget
Segmentation, Targeting and Positioning (STP)RitikaSingh267
STP -
1. Segmentation - Market segmentation is the process of
dividing a target market into smaller, more
defined categories.
It segments customers and audiences into
groups that share similar characteristics
such as demographics, interests, needs, or
location.
2. basis of segmentation - a) Demographics b) Geographic c) Psychographic d) Behavioral e) Benefit segmentation.
3. Advantages of segmentation - Helps distinguish one customer group from another within a given market.
Facilitates proper choice of target market.
Facilitates effective tapping of the market.
Helps divide the markets and conquer them.
Helps crystallize the needs of the target buyers.
Makes the marketing effort more efficient and economic.
4. Examples -
5. Effective market segmentation - Measurability (In terms of size and purchasing power)
Accessibility (Reached and served through suitable means of distribution of promotion)
Substantiality (Large and profitable)
Differentiability (Clearly distinguishable)
Action ability (To be effective makers of segmentation should be compatible with the manpower, financial and managerial resources)
6. Targeting - Targeting is a strategy that breaks a large market into smaller
segments to concentrate on a specific group of customers
within that audience.
Instead to trying to reach an entire market, a brand uses target
marketing to put their energy into connecting within a
specific, defined group within that market.
7. Targeting strategy - Undifferentiated Strategy
Concentrated Strategy
Differentiated Strategy
Micro – marketing Strategy
8. Mckinsey matrix
9. Positioning - Positioning refers to the place that a brand occupies in the minds of the customers and how it is distinguished from the products of the competitors and different from the concept of brand awareness.
10. Why positioning? - To create a distinct place of product & service or corporate in the minds of customer.
To provide a competitive edge to a product or an attempt to convey attractiveness of the product to the target market.
To give the target market reason of buying our product/service and then formulation of all strategies according to the customer perception.
11. Strategies of positioning
12. Final steps of framework - Symbolic positioning
Functional positioning
Experiential positioning
13. example of coca cola vs pepsi
To understand strategic planning, its linkage to strategic marketing and marketing management
To know how sales strategy is developed from marketing strategy
To learn basic terms used in forecasting, forecasting approaches, and methods of sales forecasting
To understand purposes and the process of sales budget
International Marketing Information System, Foreign Market Entry Mode, Product and Banking Decisions, International Product Life Cycle, Counterfeiting and IPR, Pricing Strategies, Factors Effecting Pricing, Financing International Marketing Transaction etc.
logical study about the market plan, the course of action to be taken. It related with the market aspects of the project in terms of satisfying the customer need
Powerpoint for the readers of master degree level. It is designed for the student of MBS Level but can be usable for all masters level reader/ Students.
Powerpoint for the readers of master degree level. It is designed for the student of MBS Level but can be usable for all masters level reader/ Students.
How to Create Map Views in the Odoo 17 ERPCeline George
The map views are useful for providing a geographical representation of data. They allow users to visualize and analyze the data in a more intuitive manner.
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
The Art Pastor's Guide to Sabbath | Steve ThomasonSteve Thomason
What is the purpose of the Sabbath Law in the Torah. It is interesting to compare how the context of the law shifts from Exodus to Deuteronomy. Who gets to rest, and why?
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
Instructions for Submissions thorugh G- Classroom.pptxJheel Barad
This presentation provides a briefing on how to upload submissions and documents in Google Classroom. It was prepared as part of an orientation for new Sainik School in-service teacher trainees. As a training officer, my goal is to ensure that you are comfortable and proficient with this essential tool for managing assignments and fostering student engagement.
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdfTechSoup
In this webinar you will learn how your organization can access TechSoup's wide variety of product discount and donation programs. From hardware to software, we'll give you a tour of the tools available to help your nonprofit with productivity, collaboration, financial management, donor tracking, security, and more.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
For more information, visit-www.vavaclasses.com
2. LEARNING OBJECTIVES
After comprehensive studying of this chapter, learners will be able to:
Marketing Information System and its components,
Marketing Research: Areas and Process,
Market Demand and Its Measurement,
Methods of Estimating Current and Future Market Demands,
Practice of Marketing Information System (MKIS) in Nepal.
12/14/2021 2
3. MARKETING INFORMATION SYSTEM
12/14/2021 3
“A marketing information system consists of people, equipment and procedures to gather,
sort, analyze, evaluate, and distribute needed, timely and accurate information to
marketing decision makers.” Philip Kotler
“Marketing information system is an ongoing, organized procedure to generate, analyze,
disseminate, store and retrieve information for use in making marketing decisions.”
William J. Stanton
Marketing information is an organizational section or entity with a purpose to
gather, organize, store, retrieve and analyze data relevant to a firm’s past, present
and future operations on an ongoing basis in order to provide support for
management’s marketing decision. Marketing information system consists of four
subsystems, namely the internal records system, marketing intelligence system,
marketing research system and marketing decision support system.
4. 12/14/2021 4
Marketing Managers and other Information Uses
Developing Need Information
Internal
Databases
Information
Analysis
Marketing
Intelligence
Marketing
Research
Analysis Planning Implementation Control
Assessing
Information
Needs
Distributing
and Using
Information
Target
Market
Marketing
Channels
Public Macro Environment
Forces
Competition
Marketing Environment
Marketing Information System
5. Features of Marketing Information System
12/14/2021 5
Features of Marketing
Information System
Continuous Process
Interrelated Components
Right Time
Reliability, Accuracy and Completeness
Constancy and Accessibility
6. COMPONENTS OF MARKETING INFORMATION SYSTEM
12/14/2021 6
Components of a
Marketing Information
System
Marketing
Intelligence
System
Internal Records
System
Marketing
Research System
Marketing
Decision Support
System
7. Internal Records System
12/14/2021 7
Marketing managers rely on internal reports related to customer orders, sales,
price levels, cost, inventory levels, receivable and payables.
The heart of the internal record system is the order-to-payment cycle. Customers
send orders to the firms.
Decision by Top Level Management
Internal Records
System
Financial Report
Customer’s Order and Complaints
Invoice
Sales Reports
Other Records
8. Marketing Intelligence System
12/14/2021 8
“A marketing intelligence system is a set of procedures and sources used by managers to
obtain their everyday information about pertinent development in the marketing
environment.” Philip Kotler
There are two sources of marketing intelligence. They are formal and informal.
Salesmen, intermediaries, information centers, experts, private agencies, etc. are
formal sources and newspapers, trade journals, magazines, employees, etc. are
informal sources.
Informal Sources
Formal Sources Informal Sources
9. Marketing Research System
12/14/2021 9
“Marketing research is defined as the systematic design, collection, analysis and reporting
of data and findings relevant to a specific marketing situation facing the company.”
Philip Kotler
“Marketing research is the application of scientific principles of observational,
experimental, historical and survey methods in a careful search for more accurate
knowledge of consumer and market behavior so that more effective marketing and
distribution may be developed.” J. P. Alevizos
Marketing research is the development, interpretation, and communication of decision
oriented information to be used in all phases of the marketing process. Research
plays a role in all three phases of the marketing management process: planning,
implementation, and evaluation.
10. Marketing Decision Support System
12/14/2021 10
“A marketing decision support system is a set of statistical tools, and techniques models
with hardware and software support that helps the manager in analyzing the information
properly and using it in making better and effective marketing decisions.”
Philip Kotler
marketing decision support system is a set of statistical tools and techniques
models with hardware and software support that helps the manager in analyzing
the information properly and using it in making better and effective marketing
decisions.
The following figure depicts the relationship in a decision support system. The
components of marketing decision support system are as follows:
Marketing Decision Support System
Data Bank Model Bank
Statistical Bank
11. MARKETING RESEARCH: AREAS AND PROCESS
12/14/2021 11
“Marketing research is defined as the systematic design, collection, analysis and reporting
of data and findings relevant to a specific marketing situation facing the company.”
Philip Kotler
“Marketing research is the application of scientific principles of observational,
experimental, historical and survey methods in a careful search for more accurate
knowledge of consumer and market behavior so that more effective marketing and
distribution may be developed.” J. P. Alevizos
Marketing research is the development, interpretation and communication of
information to be used in the strategic marketing process.
12. Features of Marketing Research
12/14/2021 12
Features
of
Marketing
Research
Wide and Comprehensive Scope
Systematic and Scientific
Collects and Analyzes Data
Continuous and Dynamic Process
Benefits Company and Consumers
Tool for Decision-making
Reduces Gap between Producers and Consumers
Uses Different Methods
Prioritize Different Elements of Marketing System
Accurate Data Collection and Critical analysis
13. Areas of Marketing Research
12/14/2021 13
Areas
of
Marketing
Research
Market Research
Product Research
Price Research
Promotion Research
Consumer Research
Physical Distribution Research
Sales Research
Distribution Chaannel Research
Prioritize Different Elements of Marketing System
Advertising Research
14. Process of Marketing Research
12/14/2021 14
Define the Problems and State Research Objectives
Research Design and Selection of Information Sources
Information Collection
Analyze Information
Findings and Reporting
15. MARKET DEMAND AND ITS MEASUREMENT
12/14/2021 15
The main objective of marketing is to keep the continuation of sales. But
continuation of sales is not possible without market demand.
Therefore, each organization should have to measure the demand of its goods and
services with the help of information technology.
After measuring the demand only the organization can consider promotion,
production, sales, distribution and other decisions.
Potential Market
Available Market
Target Market
Penetrated Market
16. Level of Demand Measurement
12/14/2021 16
1. Market Demand: Market demand refers to the amount of a product that would
be purchased by specific customer goods within a specified period at a specific
level of industry wide marketing activity. Market demand can be measured in the
following three levels.
Product Level
Space Level
Time Level
2. Company Demand: Company's demand is the amount of product that an
organization could sell during a specific period. It is the company's estimated
share of market demand at alternative levels of company marketing effort in a
given time period.
17. METHODS OF ESTIMATING CURRENT AND FUTURE MARKET
DEMAND
12/14/2021 17
The future of business organization depends on the increase of market demand
because organization gets profit with the increase in market demand.
Market demand is affected by customer’s changed interest, desire, buying
capacity, competitive environment, etc.
Therefore, while making marketing policies and programs, business organization
should estimate own market demand as well as current market demand and
future market demand.
18. Methods of Estimating Current Market Demand
12/14/2021 18
For organization estimating market demand is important because organization
makes its future activities and planning only after estimating the market demand.
Organization should estimate future market demand along with current market
demand. Marketers estimate current market demand by using the following
methods.
Total Market
Potential
Area Market
Potential
Company/Industry Sales and
Market Share Estimate
Methods of Estimating Current Market Demand
19. Contd…
12/14/2021 19
Total Market Potential: Total market potential is the maximum amount of sales
that might be available to all the firms in an industry during a given period, under
a given level of industry marketing effort and environmental conditions.
Area Market Potential: Companies face the problem of selecting the best
territories and allocating their marketing budget optimally among these
territories. Therefore, they need to estimate the market potential of different
districts, towns, cities, states, and nations.
Market-buildup Method
Market Factor Analysis or Multiple Factor Index Method
Company/Industry Sales and Market Share Estimate: Apart from estimating
total market potential and area market potential, a company needs to know the
actual industry sales taking place in a market. This requires identifying
competitors and estimating their sales.
20. Method of Estimating Future Market Demand
12/14/2021 20
Opinion
Survey Method
Past Sales Trend
Analysis Method
Market
Test Method
Executive Opinion/
Judgment Method
Survey of Buyers’
Intentions Method
Sales Force Opinion
Method
Expert Opinion
Method
Methods of Estimating Future Market Demand
21. PRACTICE OF MARKETING INFORMATION SYSTEM IN NEPAL
12/14/2021 21
Marketing information system emerged for gathering the reliable accurate and
justifiable information that helped in achieving success in the competitive market.
Currently, every types of firm have understood the importance of marketing
information for decision making.
Most of the multinational companies are using the marketing information system
for decision making. Surya Nepal and Gorkha Brewery are the pioneer
multinational companies to better understand the need and problems of the
customers.
They conduct the market research programs for the better information.
22. Components of Marketing Information System
12/14/2021 22
Internal Record System: Internal records system gather information from sources
located within the organization. Sales report, financial report, audit report,
purchase report, annual report are the internal sources of information.
Marketing Intelligence System: Marketing intelligence system is the set of
procedures and sources used to obtain everyday information about pertinent
development in the market place.
Marketing Research System: Marketing research involves specific inquiries into
specific marketing problems. It is basically problem oriented. It is not getting
attention from marketing managers in Nepal.
Decision Support System: Decision support system does not collect the
information. This system stores, analyze and synthesizes the collected
information. Decision support system is not well practiced in Nepal. Some global
companies use it as a tool to interpret data.
23. CASE ANALYSIS & REPORT
12/14/2021 23
Please go through the books for case analysis.