Session 4 MG 220 MBA - 26 Aug 10


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Session 4
MG 220 Marketing Management

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Session 4 MG 220 MBA - 26 Aug 10

  1. 1. Part 2: Capturing Market Insights<br />> Review and revision of Part 1 with local examples<br />> Gathering Information & Scanning the environment<br />> Key Concepts in complete Chapter 3 will be covered<br />Class Presentation | Session 4 | 26 Aug 2010<br />
  2. 2. Components of a modern MIS(Marketing Information System)<br />Everyone needs to observe the environment but marketers have two advantages:<br />Disciplined methods for collecting information<br />More time for interacting with customers & observe competition<br />Marketers understand and have extensive information on consumption patterns<br />Companies with superior information enjoy a competitive advantage<br />MG 220 Marketing Management<br />2<br />
  3. 3. Components of a modern MIS(Marketing Information System)<br />Marketing Information System<br />Consists of: <br />People, Equipment and Procedures to Gather, Sort, Analyze and Distributeneeded, timely and accurate information to marketing decision-makers<br />MG 220 Marketing Management<br />3<br />
  4. 4. Components of a modern MIS(Marketing Information System)<br />Marketing Information System<br /> is developed from:<br />Company’s internal records<br />Marketing Intelligence Activities<br />Marketing Research<br />MIS should be a cross between:<br />What managers think they need<br />What managers really need<br />What is economically feasible<br />MG 220 Marketing Management<br />4<br />
  5. 5. Internal Records & Marketing Intelligence<br />Order-to-payment cycle<br />Review of sales process & its complete transaction flow<br /> Doing it accurately and timely is the key<br />Sales Information Systems<br /> Timely & accurate reports on current sales<br /> Need to correctly interpret sales data (red or yellow mustang?)<br />Database, Data Warehousing and Data MiningCustomer databases, product databases, salespersons databases<br /> Use them to interact correctly with customers<br />MG 220 Marketing Management<br />5<br />
  6. 6. Internal Records & Marketing Intelligence<br />Marketing Intelligence System<br />A set of procedures and sources managers use to obtain everyday information about developments in marketing environment<br /> Several steps<br />Train and motivate sales force to gather & report information<br />Motivate distributors, retailers etc. to pass information (Mystery shopping)<br />Network externally (purchasing competitors’ products, attend their events etc. )<br />Customer advisory panels (interact with selected customers)<br />Government data resources (census reports etc.)<br />Purchase information from research houses etc.<br />Online customer feedback for competitive intelligence<br />MG 220 Marketing Management<br />6<br />
  7. 7. Analyzing the Macroenvironment<br />Successful companies recognize and respond profitably to unmet needs and trends<br />Fad, trend & megatrend<br />Fad is a “unpredictable”, short-lived and without social, economic, political significance. (a new style of clothing)<br />Trend is a direction of sequence of events that has some momentum and more predictable and durable than fads. (music scene in Pakistan)<br />Megatrends are large social, economic, political and technological changes that are slow to form and [once in place], they influence us for sometime. (access to TV/news all over Pakistan)<br />MG 220 Marketing Management<br />7<br />
  8. 8. Analyzing the Macroenvironment<br />Identifying the major forces<br />Demographic<br />Economic<br />Social-cultural<br />Natural<br />Technological<br />Political-legal<br />MG 220 Marketing Management<br />8<br />
  9. 9. Analyzing the Macroenvironment<br />Demographic<br />Main demographic is population<br />Population growth<br />Differences and trends in different countries and regions and even cities<br />Population Age mix<br />Ethnicity<br />Educational<br />Household patterns<br />Family structures, collective lifestyles<br />Geographical shifts in population<br />MG 220 Marketing Management<br />9<br />
  10. 10. Analyzing the Macroenvironment<br />Economic<br />Markets require purchasing power [and people!]<br />Few important trends<br />Income distribution – a key development indicator<br />Savings, Debt & credit availability<br />Outsourcing & Free trade<br />MG 220 Marketing Management<br />10<br />
  11. 11. Analyzing the Macroenvironment<br />Social-Cultural Environment<br />Society’s impact on individuals and groups<br />Some interesting ‘views’<br />How people view themselves<br />How people view others<br />How people view companies, organizations<br />How people view their society and values<br />How people view nature<br />How people view life, universe, religion<br />Core beliefs and secondary beliefs<br />Sub-cultures<br />Shift of cultural values through time<br />MG 220 Marketing Management<br />11<br />
  12. 12. Analyzing the Macroenvironment<br />Natural<br />Degradation of natural environment is a serious issue<br />Important O&Ts<br />Shortage of Raw materials <br />Infinite<br />finite renewable<br />finite non-renewable<br />Increased energy costs<br />Anti-pollution pressures<br />Changing role of governments<br />MG 220 Marketing Management<br />12<br />
  13. 13. Analyzing the Macroenvironment<br />Technological<br />Changing the way we live and that too rapidly!<br />Innovation and new concepts<br />Cutting-edge research<br />MG 220 Marketing Management<br />13<br />
  14. 14. Analyzing the Macroenvironment<br />Political-Legal Environment<br />Businesses are being regulated and more controlled<br />SIGs<br />How companies can tackle with lobbying Special Interest Groups<br />MG 220 Marketing Management<br />14<br />
  15. 15. Part 2: Capturing Market Insights<br />> The Marketing Research System<br />> The Marketing Research Process<br />> QUIZ for Part 1 (Session 1 – 3)<br />Class Presentation | Session 5 | 30 Aug 2010<br />