Marketing Management E-Book


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Marketing Management E-Book

  1. 1. PowerPoint by Milton M. Pressley Creative Assistance by D. Carter and S. Koger
  2. 2. Chapter 1Defining Marketing for the21st Centuryby PowerPoint by Milton M. Pressley University of New Orleans 1-2
  3. 3. Kotler onMarketingThe future is not ahead of us. It has already happened. Unfortunately, it is unequally distributed among companies, industries and nations. 1-3
  4. 4. Chapter ObjectivesIn this chapter we will address the followingquestions: What is the new economy like? What are the tasks of marketing? What are the major concepts and tools of marketing? What orientations do companies exhibit in the marketplace? How are companies and marketers responding to the new challenges? 1-4
  5. 5. The New EconomySubstantial increase in buying powerA greater variety of goods and servicesA greater amount of information aboutpractically anythingA greater ease in interacting and placingand receiving ordersAn ability to compare notes on productsand services 1-5
  6. 6. The New EconomyWebsites can provide companies withpowerful new information and saleschannels.Companies can collect fuller and richerinformation about markets, customers,prospects and competitors.Companies can facilitate and speed upcommunications among employees.Companies can have 2-way 2-communication with customers andprospects 1-6
  7. 7. The New EconomyCompanies can send ads, coupons,samples, information to targetedcustomers.Companies can customize offerings andservices to individual customers.The Internet can be used as acommunication channel for purchasing,training, and recruiting.Companies can improve logistics andoperations for cost savings whileimproving accuracy and service quality. 1-7
  8. 8. The three major challenges faced bybusinesses today are globalization,advances in technology, and deregulation.Which of these affords the greatestopportunity for established businesses?Which affords the greatestopportunities for newbusinesses? Why? 1-8
  9. 9. Marketing TaskTen rules of radical marketing The CEO must own the marketing function. Make sure the marketing department starts small and flat and stays small and flat. Get face to face with the people who matter most – the customers. Use market research cautiously. Hire only passionate missionaries. 1-9
  10. 10. Marketing Task Love and respect your customers. Create a community of consumers. Rethink the marketing mix. Celebrate common sense. Be true to the brand.Three stages of marketing practice Entrepreneurial Marketing Formulated Marketing Intrepreneurial Marketing 1-10
  11. 11. The Scope of Marketing Marketing: typically seen as the task of creating, promoting, and delivering goods and services to consumers and businesses. 1-11
  12. 12. 1. Negative A major part of the market dislikes the demand product and may even pay a price toTable 1.1 avoid it—vaccinations, dental work, it—Demand vasectomies, and gallbladder operations, for instance. Employers haveStates and a negative demand for ex-convicts and ex-Marketing alcoholics as employees. The marketing task is to analyze why the marketTasks dislikes the product and whether a marketing program consisting of product redesign, lower prices, and more positive promotion can change beliefs and attitudes. 2. No demand Target consumers may be unaware of or uninterested in the product. Farmers may not be interested in a new farming method, and college students may not be interested in foreign-language foreign- courses. The marketing task is to find ways to connect the benefits of the product with people’s natural needs and interests. See text for complete table 1-12
  13. 13. Can you name a category ofproducts for which your negativefeelings have softened?What precipitatedthis change? 1-13
  14. 14. The Scope of MarketingPlaces GoodsProperties ServicesOrganizations ExperiencesInformation EventsIdeas Persons 1-14
  15. 15. The DecisionsMarketers MakeConsumer MarketsBusiness MarketsGlobal MarketsNonprofit andGovernmental Markets 1-15
  16. 16. Marketing Concepts and Tools Defining Marketing Marketing Marketing management Core Marketing Concepts Target Markets and Segmentation 1-16
  17. 17. Figure 1-1: A Simple Marketing System 1-17
  18. 18. Marketing Concepts and Tools Marketplace, Marketspace, and Metamarket 1-18
  19. 19. Marketing Concepts and ToolsMarketers and ProspectsNeeds, Wants, and DemandsProduct, Offering, and BrandValue and Satisfaction Customer value triad Value Value = Benefits / Costs = (Functional benefits + Emotional benefits) / (Monetary costs + Time costs + Energy costs + Psychic costs) 1-19
  20. 20. Marketing Concepts and Tools Exchange and Transactions Exchange Transaction Barter Transfer Behavioral response 1-20
  21. 21. Marketing Concepts and Tools Relationships and Networks Relationship marketing Marketing network Marketing Channels Supply Chain Competition 1-21
  22. 22. Marketing Concepts and Tools Brand competition Industry competition Form competition Generic competitionMarketing environment Task environment Broad environmentMarketing Program Marketing program Marketing mix 1-22
  23. 23. Company OrientationsToward the Marketplace Production Concept Product concept Selling Concept Marketing Concept 1-23
  24. 24. Company OrientationsToward the Marketplace Target Market Customer Needs Stated needs Real needs Unstated needs Delight needs Secret needs 1-24
  25. 25. Company OrientationsToward the Marketplace Integrated Marketing External marketing Internal marketing 1-25
  26. 26. Company OrientationsToward the Marketplace Profitability Sales decline Slow growth Changing buying patterns Increasing competition Increasing marketing expenditures 1-26
  27. 27. Company OrientationsToward the Marketplace Societal Marketing Concept Cause- Cause-related marketing 1-27
  28. 28. Can you identify the trends that havemade the marketing concept, thecustomer concept, and the societalmarketing concept more attractivemodels for contemporarymarketing managers? 1-28
  29. 29. How Business andMarketing are Changing Customers Brand manufacturers Store- Store-based retailers 1-29
  30. 30. How Business and Marketing are ChangingCompany responses and adjustments Reengineering Partner- Partner-suppliers Outsourcing Market- Market-centered E-commerce Global and local Benchmarking Decentralized Alliances 1-30
  31. 31. How Business and Marketing are ChangingMarketer Responsesand Adjustments Customer relationship Integrated marketing marketing communications Customer lifetime value Channels as partners Customer share Every employee a Target marketing marketer Customization Model- Model-based decision Customer database making 1-31
  32. 32. Chapter 2Adapting Marketing To TheNew Economyby PowerPoint by Milton M. Pressley University of New Orleans 1-32
  33. 33. Kotler onMarketingThe Internet willcreate new winnersand bury thelaggards. 1-33
  34. 34. Chapter ObjectivesIn this chapter, we will address thefollowing questions: What are the major forces driving the New Economy? How are business and marketing practices changing as a result of the New Economy? How are marketers using the Internet, customer databases, and customer relationship management in the New Economy? 1-34
  35. 35. Adapting Marketing to the New Economy Major Drivers of the New Economy Digitization and Connectivity Disintermediation and Reintermediation Customization and Customerization 1-35
  36. 36. Procter & Gamble’s site allows customers to design their own beauty products 1-36
  37. 37. Adapting Marketing to the New Economy Industry ConvergenceHow Business Practices are Changing Organize by product units to organize by customer segments Shift focus from profitable transactions to customer lifetime value Shift focus from financial scorecard to also focusing on the marketing scorecard Shift focus from shareholders to stakeholders 1-37
  38. 38. Table 2-1: Old Economy vs. New EconomyOld Economy New EconomyOrganize by product units Organize by customer segmentsFocus on profitable transactions Focus on customer lifetime valueLook primarily at financial Look also at marketing scorecardscorecard Focus on stakeholdersFocus on shareholders Everyone does the marketingMarketing does the marketing Build brands through behaviorBuild brands through advertising Focus on customer retention andFocus on customer acquisition growthNo customer satisfaction Measure customer satisfaction andmeasurement retention rateOverpromise, underdeliver Underpromise, overdeliver 1-38
  39. 39. Adapting Marketing to the New Economy Everyone does the marketing Build brands through performance, not just advertising Customer retention rather than customer acquisition From none to in-depth customer in- satisfaction measurement From over-promise, under-deliver to over- under- under- under-promise, over-deliver over- The New Hybrid 1-39
  40. 40. Adapting Marketing to the New EconomyHow Marketing Practicesare Changing: E-Business E- E-business E-commerce E-purchasing E-marketingInternet Domains: B2C(Business to Customer) 1-40
  41. 41. Customers can shop online at Calyx and Corolla or ask for a catalog and shop by phone 1-41
  42. 42. Adapting Marketing to the New Economy Internet Domains: B2B (Business to Business) 1-42
  43. 43. Figure 2-1:The Supplier-CustomerRelationship:Traditional andNew EconomyStructures 1-43
  44. 44. global online marketplace for the consumer packaged goods industry 1-44
  45. 45. Adapting Marketing to the New Economy Internet Domains: C2C (Consumer to Consumer) Internet Domains: C2B (Customer to Business) Pure Click vs. Brick and Click Companies Pure- Pure-click companies 1-45
  46. 46. CarPoint, leading metamediary for car buying, is a pure click company: It exists only on the Web. 1-46
  47. 47. Adapting Marketing to the New Economy Brick and Click companies 1-47
  48. 48. Which is more important fordeveloping an e-presence: the agility e-of a pure click company, or the welldefined and readily identifiableresources of a traditionalbrick and mortarcompany? 1-48
  49. 49. Adapting Marketing to the New EconomyHow Marketing Practices are Changing:Setting Up Web Sites Designing an Attractive Website Seven elements of effective sites Context Content Community Customization Communication Connection Commerce 1-49
  50. 50. Would you be willing to give up one ormore of the seven elements of an effectiveweb site in order to speed the deploymentof a new company e-commerce site? e-What would the expected trade-offs be trade-between an effective siteand an early webpresence? 1-50
  51. 51. Attracting and Keeping VisitorsTable 2-2: 2- How can we get more prospects to know and visit our site?Setting How can we use marketing to spread word-of-mouth? word-of-Up a How can we convert visitors into repeaters?Dot-Dot-com How do we make our site more experiential and real?Presence How can we build a strong relationship with our customers? How can we build a customer community? How can we capture and exploit customer data for up-selling up- and cross-selling? cross- How much should we spend on building and marketing our site? Advertising on the Internet What are the various ways that we can advertise on the Internet? How do we choose the right sites for placing our ads or sponsorship? See text for complete table 1-51
  52. 52. Adapting Marketing to the New Economy Context factors Content factors Getting feedback 1-52
  53. 53. Adapting Marketing to the New Economy Placing Ads and Promotions Online Banner ads Sponsorships Microsite Interstitials Browser ads Alliances and affiliate programs Push 1-53
  54. 54. “pushes” targeted content and ads to those who are interested in a product or product category 1-54
  55. 55. Adapting Marketing to the New Economy Building a Revenue and Profit Model Advertising income Sponsorship income Membership and subscriptions Profile income Product and service sales Transaction commission and fees Market research/information Referral income 1-55
  56. 56. Adapting Marketing to the New EconomyHow Marketing Practices are Changing:Customer Relationship Marketing Reduce rate of customer defection Increase longevity of customer relationship Enhance growth potential through cross-selling and up-selling cross- up- Make low profit customers more profitable or terminate them 1-56
  57. 57. Adapting Marketing to the New Economy Focus disproportionate effort on high value customers 1-57
  58. 58. Table 2-3: Mass Marketing vs. One-to-One MarketingMass Marketing One-to-One Marketing One-to-Average customer Individual customerCustomer anonymity Customer profileStandard product Customized marketMass production offeringMass distribution Customized productionMass advertising Individualized distributionMass promotion Individualized messageOne-One-way message Individualized incentivesEconomies of scale Two- Two-way messagesShare of market Economies of scopeAll customers Share of customerCustomer attraction Profitable customers Customer retention 1-58
  59. 59. Adapting Marketing to the New Economy Four steps for One-to-One Marketing One-to- Don’t go after everyone, identify prospects. Define customers by their needs and their value to the company. Individual interaction with customers builds stronger relationships. Customize messages, services, and products for each customer. 1-59
  60. 60. Adapting Marketing to the New Economy Customer Databases and Database Marketing Customer mailing list Business database 1-60
  61. 61. Adapting Marketing to the New EconomyData Warehouses and Data Mining Using the database To identify prospects To determine target market To deepen customer loyalty To reactivate customer purchases To avoid serious customer mistakes The Downside of Database Marketing 1-61
  62. 62. Chapter 3Building CustomerSatisfaction, Value, andRetentionby PowerPoint by Milton M. Pressley University of New Orleans 1-62
  63. 63. Kotler onMarketingIt is no longerenough to satisfycustomers. You mustdelight them. 1-63
  64. 64. Chapter ObjectivesIn this chapter, we will address thefollowing questions: What are customer value and satisfaction, and how can companies deliver them? What makes a high-performance business? high- How can companies both attract and retain customers? How can companies improve both customer and company profitability? How can companies deliver total quality? 1-64
  65. 65. Defining Customer Value and Satisfaction Customer Perceived Value (CPV) Total customer value Total customer cost 1-65
  66. 66. Figure 3-1:Determinantsof CustomerDeliveredValue 1-66
  67. 67. Defining Customer Value and Satisfaction Total Customer Satisfaction Satisfaction Customer Expectations Delivering High Customer Value Value proposition Value- Value-delivery system Measuring Satisfaction 1-67
  68. 68. Table 3-1: Tools for Tracking and Measuring Customer SatisfactionComplaint A customer-centered organization makes it easy for customer-and customers to register suggestions and complaints.suggestion Some customer-centered companies-P&G, General customer- companies- Electric, Whirlpool—establish hot lines with toll-free Whirlpool— toll-systems: numbers. Companies are also using Web sites and e-mail for quick, two-way communication. two- Studies show that although customers are dissatisfiedCustomer with one out of every four purchases, less than 5 percent will complain. Most customers will buy less orsatisfaction switch suppliers. Responsive companies measuresurveys: customer satisfaction directly by conducting periodic surveys. While collecting customer satisfaction data, it is also useful to ask additional questions to measure repurchase intention and to measure the likelihood or willingness to recommend the company and brand to others. See text for complete table 1-68
  69. 69. Would you feel more brand loyalty for acompany that tried to immediately resolvea complaint via E-mail, or a company that E-had a customer service representative callwithin two business days toresolve the problem overthe phone? 1-69
  70. 70. Premier is a special business-oriented part of the business-Dell Web site that allows customers to interact with Dell and customize all phases of doing business with Dell. 1-70
  71. 71. The Nature of HighPerformance Business High- High-performance business 1-71
  72. 72. Figure 3-2: The High Performance Business 1-72
  73. 73. The Nature of HighPerformance BusinessStakeholdersProcessesResources Core competency Distinctive capabilitiesOrganization and Organizational Culture Organization Corporate culture Scenario analysis 1-73
  74. 74. Can you name a company that haschanged the public’s perception oftheir corporate culture? Has thiseffectively rehabilitated thatcompany’s image? 1-74
  75. 75. Delivering Customer Value and Satisfaction Value Chain Value chain 1-75
  76. 76. Figure 3-3: The Generic Value Chain 1-76
  77. 77. Delivering Customer Value and Satisfaction BenchmarksCore Business Processes The market sensing process The new offering realization process The customer acquisition process The customer relationship management process The fulfillment management process 1-77
  78. 78. Delivering Customer Value and Satisfaction The Value Delivery Network (Supply Chain) 1-78
  79. 79. Figure 3-4:LeviStrauss’sValue-DeliveryNetwork 1-79
  80. 80. Attracting and Retaining Customers Partner relationship management (PRM) Customer relationship management (CRM) 1-80
  81. 81. Saturn has gained a customer loyalty rateof more than 60% by fundamentallychanging the buyer-seller relationship. buyer-Can you think of another company thathas made a change of similarmagnitude? Have theyhad similar results? 1-81
  82. 82. Attracting and Retaining Customers Attracting Customers Computing the Cost of Lost Customers Customer churn Lifetime value 1-82
  83. 83. On the Lands’ End Web site, customers can click abutton to talk with a customer service representative 1-83
  84. 84. Attracting and Retaining CustomersThe Need for Customer RetentionMeasuring CustomerLifetime Value (CLV)Customer Relationship Management(CRM): The Key Customer equity Three drivers of customer equity Value equity Brand equity Relationship equity 1-84
  85. 85. Figure 3-5:TheCustomer-DevelopmentProcess 1-85
  86. 86. Attracting and Retaining Customers Five levels of investment in customer relationship building Basic marketing Reactive marketing Accountable marketing Proactive marketing Partnership marketing 1-86
  87. 87. Figure 3-6: Levels of Relationship Marketing 1-87
  88. 88. Attracting and Retaining Customers Forming Strong Customer Bonds: The Basics Cross- Cross-departmental participation Integrate the Voice of the Customer into all business decisions Create superior offering for the target market 1-88
  89. 89. Attracting and Retaining Customers Organize and make accessible a database of customer information Make it easy for customers to reach the appropriate personnel Reward outstanding employees Adding Financial Benefits Frequency programs (FPs) 1-89
  90. 90. The H.O.G. Web site presents the benefits of joining. 1-90
  91. 91. Attracting and Retaining Customers Adding Social Benefits 1-91
  92. 92. Good Things Bad ThingsTable 3-2: Initiate positive phone calls Make only callbacksSocial Actions Make recommendations Make justificationsAffecting Candor in language Accommodative languageBuyer-Seller Use phone Use correspondenceRelationships Show appreciation Wait for misunderstandings Make service suggestions Wait for service requests Use “we” problem-solving problem- Use “owe-us” legal language “owe- language Only respond to problems Get to problems Use long-winded long- Use jargon or shorthand communications Personality problems aired Personality problems hidden Talk of “our future together” Talk about making good on Routinize responses the past Accept responsibility Fire drill and emergency Plan the future responsiveness Shift blame Rehash the past 1-92
  93. 93. Attracting and Retaining Customers Adding Structural Ties Create long-term contracts long- Charge lower price to high volume customers Turn product into long- long-term service 1-93
  94. 94. Customer Profitability,Company Profitability, andTotal Quality Management Measuring Profitability Profitable customer 1-94
  95. 95. Figure 3-7: Customer-Product Profitability Analysis 1-95
  96. 96. Figure 3-8: Allocating marketing investment according to customer value 1-96
  97. 97. Customer Profitability,Company Profitability, andTotal Quality Management Increasing Company Profitability Competitive advantage Implementing TQM Total Quality Management Quality 1-97
  98. 98. Chapter 4Winning Markets ThroughMarket-Market-Oriented StrategicPlanningby PowerPoint by Milton M. Pressley University of New Orleans 1-98
  99. 99. Kotler onMarketingIt is more importantto do what isstrategically rightthan what isimmediatelyprofitable. 1-99
  100. 100. Chapter ObjectivesIn this chapter, we examine thefollowing questions: How is strategic planning carried out at the corporate and division levels? How is planning carried out at the business unit level? What are the major steps in the marketing process? How is planning carried out at the product level? What does a marketing plan include? 1-100
  101. 101. Strategic Planning: Three Key Areas and Four Organization Levels Strategic marketing plan Tactical marketing plan Marketing plan 1-101
  102. 102. Corporate and Division Strategic PlanningAll corporate headquarters undertakefour planning activities Defining the Corporate Mission Establishing Strategic Business Units (SBUs) Assigning resources to each SBU Planning new businesses, downsizing, or terminating older businesses 1-102
  103. 103. Corporate and Division Strategic PlanningDefining the Corporate Mission Mission statements define which competitive scopes the company will operate in Industry scope Products and applications scope Competence scope Market- Market-segment scope Vertical scope Geographical scope 1-103
  104. 104. Can you name a company that hasrecently changed its product scopeor market segment scope in a verypublic way? Was this an expansionor contraction of scope? 1-104
  105. 105. Corporate and Division Strategic PlanningEstablishing Strategic Business Units(SBUs) 1-105
  106. 106. Table 4.1: Product-Oriented versus Market-Oriented Definitions of a BusinessCompany Product Definition Market DefinitionMissouri-Missouri-Pacific We run a railroad We are a people-and- people-and-Railroad goods moverXerox We make copying We help improve office equipment productivityStandard Oil We sell gasoline We supply energyColumbia Pictures We make movies We market entertainmentEncyclopaedia We sell encyclopedias We distribute InformationCarrier We make air We provide climate conditioners and control in the home furnaces 1-106
  107. 107. Corporate and Division Strategic PlanningThree characteristics of SBUs Single business or collection of related businesses that can be planned for separately Has its own set of competitors Has a manager who is responsible for strategic planning and profit 1-107
  108. 108. The Growth-Share Matrix Growth- Relative market share Four Cells Question Marks Stars Cash Cows DogsSBU StrategiesSBU Lifecycle 1-108
  109. 109. Can you give an example of a “Star”that skipped “Cash Cow”, and wentstraight to “Dog” status? 1-109
  110. 110. Corporate and Division Strategic Planning The General Electric Model 1-110
  111. 111. Table 4-2: Factors underlying Market Attractiveness and Competitive Position in GE Multifactor Portfolio Model: Hydraulic-Pumps Market Rating = Weight (1-5) (1- Value Overall market size 0.20 4 0.80 Annual market growth rate 0.20 5 1. Historical profit margin 0.15 4 0.60 Competitive intensity 0.15 2 0.30Market Technological requirements 0.15 4 0.60Attractiveness Inflationary vulnerability 0.05 3 0.15 Energy requirements 0.05 2 0.10 Environmental impact 0.05 3 0.15 Social-political- Social-political-legal Must be acceptable 1.0 3.70 Market share 0.10 4 0.40 Share growth 0.15 2 0.30Business Product quality 0.10 4 0.40Strength Brand reputation 0.10 5 0.50 Distribution network 0.05 4 0.20 See text for complete table 1-111
  112. 112. Corporate and Division Strategic Planning Critique of Portfolio Models Planning New Businesses, Downsizing Older Businesses 1-112
  113. 113. Corporate and Division Strategic Planning Intensive Growth 1-113
  114. 114. Starbucks’ home page: Customers can request a catalog of Starbucks products, subscribe to a newsletter, and shop online 1-114
  115. 115. Corporate and Division Strategic Planning Integrative Growth Diversification Growth Downsizing Older Businesses 1-115
  116. 116. Give an example of a marketsegment where integrative growthwould be preferable to growththrough diversification. Explainwhy one approach is betterthan the other. 1-116
  117. 117. Business Unit Strategic PlanningBusiness MissionSWOT Analysis External Environment Analysis (Opportunity and Threat Analysis) Marketing Opportunity Buying opportunity more convenient or efficient Meet the need for more information and advice Customize an offering that was previously only available in standard form 1-117
  118. 118. Give some examples of companiesthat have grown to dominate theirmarket segment by using technologyto make buying opportunities moreconvenient and efficient. 1-118
  119. 119. Business Unit Strategic PlanningMarketing Opportunity Analysis (MOA) Can the benefits be articulated to a target market? Can the target market be reached with cost- cost- effective media and trade channels? Does the company have the critical capabilities to deliver the customer benefits? Can the company deliver these benefits better than any actual or potential competitors? Will the rate of return meet the required threshold of investment? 1-119
  120. 120. Figure 4-7: Opportunity and Threat Matrices 1-120
  121. 121. Business Unit Strategic PlanningInternal Environmental Analysis(Strength/Weakness Analysis)Goal FormationStrategicFormulation Strategy 1-121
  122. 122. Business Unit Strategic PlanningPorter’s Generic Strategies Overall cost leadership Differentiation Focus 1-122
  123. 123. Travelocity’s Web site helps the consumer plan thewhole vacation – flights, lodging, and car 1-123
  124. 124. Business Unit Strategic PlanningOperational Effectiveness and Strategy Strategic group Strategic alliances 1-124
  125. 125. Business Unit Strategic PlanningMarketing Alliances Product or service alliances Promotional alliances Logistical alliances Pricing collaborationsPartner RelationshipManagement, PRMProgram Formulation andImplementation 1-125
  126. 126. Business UnitStrategic Planning Feedback and Control 1-126
  127. 127. The Marketing Process Steps in the Planning Process The marketing process Analyzing Market Opportunities Developing Marketing Strategies Planning Marketing Programs Managing the Marketing Effort Annual- Annual-plan control Profitability control Strategic control 1-127
  128. 128. Figure 4-10:FactorsInfluencingCompanyMarketingStrategy 1-128
  129. 129. Product Planning: The Nature and Contents of a Marketing Plan Contents of the Marketing Plan Executive Summary Current Marketing Situation Opportunity and issue analysis Objectives Marketing strategy Action programs Financial projections Implementation controls 1-129
  130. 130. Product Planning: The Nature and Contents of a Marketing Plan Sample Marketing Plan: Sonic Personal Digital Assistant Current Marketing Situation Opportunity and Issue Analysis Objectives Action Programs Financial Projections 1-130
  131. 131. Product Planning: The Nature and Contents of a Marketing Plan Implementation Controls Marketing Strategy Positioning Product Management Pricing Distribution Marketing Communications Marketing Research 1-131
  132. 132. Chapter 5Gathering Information andMeasuring Market Demandby PowerPoint by Milton M. Pressley University of New Orleans 1-132
  133. 133. Kotler onMarketingMarketing is becoming a battle based more on information than on sales power. 1-133
  134. 134. Chapter ObjectivesIn this chapter, we focus on the followingquestions: What are the components of a modern marketing information system? What constitutes good marketing research? How can marketing decision support systems help marketing managers make better decisions? How can demand be more accurately measured and forecasted? 1-134
  135. 135. The Components of a ModernMarketing Information System Marketing Information System (MIS) 10 useful questions for determining the information needs of marketing managers. What decisions do you regularly make? What information do you need to make these decisions? What information do you regularly get? What special studies do you periodically request? 1-135
  136. 136. The Components of a ModernMarketing Information System What information would you want that you are not getting now? What information would you want daily? Weekly? Monthly? Yearly? What magazines and trade reports would you like to see on a regular basis? What topics would you like to be kept informed of? What data analysis programs would you want? What are the four most helpful improvements that could be made in the present marketing information system? 1-136
  137. 137. Internal Record Systems The Order-to-Payment Cycle Order-to- Sales Information Systems Databases, Data Warehouses And Data-Mining Data- 1-137
  138. 138. Can you name a company that usestargeted mailings to promote newproducts, or regional offerings? 1-138
  139. 139. The MarketingIntelligence SystemA Marketing Intelligence Systemis a set of procedures and sourcesused by managers to obtaineveryday information aboutdevelopments in the marketingenvironment. 1-139
  140. 140. What are some of the potentialhazards a company might face byrelying too heavily on distributors,retailers, or otherintermediaries formarket intelligence? 1-140
  141. 141. The Marriott Vacation Club International Web sitegives interested customers the opportunity to sell themselves on the Marriott offerings 1-141
  142. 142. is a portal to information–a user information–clicks on a listing and is then connected to that site 1-142
  143. 143. Table 5-1: Secondary-Data SourcesSecondary-Secondary- A. Internal SourcesData Sources Company profit-loss statements, balance profit- sheets, sales figures, sales-call reports, sales- invoices, inventory records, and prior research reports. B. Government Publications • Statistical Abstract of the United States • County and City Data Book • Industrial Outlook • Marketing Information Guide C. Periodicals and Books • Business Periodicals Index • Standard and Poor’s Industry See text for complete table 1-143