Principles of Marketing Information Literacy March 19, 2016

2 Reference Sara Drew Michael LaMagna Anne Schwelm Lawral Wornek

3 Agenda Library basics Marketing research basics: 6 Steps Web sites and search engines

4 Research always takes longer than you think! Use several databases from the library’s Databases link Use the Internet Use the library’s Print Resources Group projects

5 Library Basics: materials in our library HSL webpage Databases Research Wikis

6 Step 1. Marketing Overview What business are you in? What do you sell? What service do you provide? What are the strengths/weaknesses of your business? Define your marketing goals (include sales and profit goals) Annual Reports Annual Reports – available from company website Business.com Encyclopedia of Major Marketing Campaigns* Hoover’s Online *sample page on WikiWiki

7 Step 2. Identify Products and Services What are the benefits of your product/service? How do you differ from the competition? What is your market share? - Is it expanding, shrinking or stable? - Is your market growing, shrinking or stable? Business Rankings Annual* Market Share Reporter* *sample page on WikiWiki

8 Step 3. Identify Customers and Prospects Define your target market Who? (age, sex, income level and geographic locale) What are their buying habits? How do they learn about your products/services? (newspaper advertising, direct mail, word of mouth, Yellow Pages) Are there prospective customers who need your product or service? SRDS Lifestyle Market Analyst* Statistical Abstract of the United States Survey of Buying Power U.S. Census Department *sample page on WikiWiki

9 Step 3. Identify Customers and Prospects (Continued) Define your target market Who? (age, sex, income level and geographic locale) What are their buying habits? How do they learn about your products/services? (newspaper advertising, direct mail, word of mouth, Yellow Pages) Are there prospective customers who need your product or service? American Generations Series: Millennials, Gen X, Baby Boomers, Seniors* American Marketplace* Household Spending* *sample page on WikiWiki

10 Step 4. Do a Competitive Analysis Who are your competitors? What do your competitors do better than you? What do you do better than your competitors? Market Share Reporter* Market Research.com *sample page on WikiWiki

11 Step 5. Identify Price, Location & Sales Practices How do you establish prices? How do your prices compare? What are the advantages/ disadvantages of your location? What are your sales practices? How do your sales practices compare to those of your competitors? Academic Universe Lexis Nexis Business Source Premier Company web site Investor relations link 10K report

12 Step 6. Detail Advertising and Promotion Scheme What are your advertising and promotional objectives? (penetrate specialized markets, create or change your firm's image) What is your budget? What marketing tools can you implement within this budget? How does the competition promote itself? Academic Universe Lexis Nexis SRDS publications* Media Kits Media Kits (must be obtained directly from the media outlet) *sample pages on WikiWiki

13 Web Sites & Search Engines American Community Survey Television Bureau of Advertising Research Central Television Bureau of Advertising Research Central Try the media trends track for stats and ad costs

14 Review Library Basics HSL web page Print Reference Materials & Databases Marketing Research Basics Steps Utilize both Print & Electronic Resources Media Kits Web Sites & Search Engines Copy of this presentation HSL web page: Research Wikis

End Thank you for your attention. Questions? When you have a minute please visit the link to complete the survey.link 15