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Marketing Decision-Making and Marketing Decisions

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Presentation on theme: "Marketing Decision-Making and Marketing Decisions"— Presentation transcript:

1 Marketing Decision-Making and Marketing Decisions

2 AIM To give you an understanding of the uses of Marketing Research and a knowledge of how Marketing data are used in Marketing decision-making

3 OBJECTIVES Describe the nature and processes of Marketing Research
Practically apply methods of primary and secondary data collection Analyse Marketing data Demonstrate Application of research to Marketing decisions

4 Professor DON Bathie

5 The Knowledge Age Huge volumes of information now available
Managers need to be selective and systematic As data is drawn from multiple sources, needs to be combined and analysed for it to be of value

6 Decision levels in organisations
Business direction Market decisions Investment decisions New product development Positioning Strategic Operational Marketing mix decisions Customer service levels Competitive responses Campaigns Tactical

7 Information processing
Input Output/input Output DATA INFORMATION INTELLIGENCE Value added Value added Uninformed Minimum cost Total uncertainty Informed Maximum cost Less uncertainty

8 Typical applications for marketing research
Market analysis New product/service development Selection of brand names and packaging Pricing decisions Advertising and promotion decisions Sales decisions Service support and complaint handling decisions

9 Typical data requirements: Market analysis
Market size Market profitability Market growth trends Main products in the market Customer attitudes and buying behaviours Major competitors and market shares Distribution patterns Marketing strategies used in the market

10 Product research New products Long range economic studies
Satisfaction levels and trends with current products Gap between current products & perception New products Consumer research Competitor research Research from international markets Source: Hines

11 Pricing decisions Competitor product prices
Consumer attitudes to price what would they expect to pay? what would they be prepared to pay Cost/price/volume - what quantities are likely to sell at different price levels?

12 Advertising and promotion
Size of potential market Demographic characteristics of users Demographic profiles of segments Behaviours and attitudes of different segments Language used by customers in talking about product Share of mind compared with competitors

13 Sales decisions Sales territories Sales personnel efficiency
Sales statistics Sales forecasts Sales incentives Distributor policy

14 Summary analysis for Marketing Decisions Four types of decision area::
Marketing Research generates data and analysis for Marketing Decisions Four types of decision area:: - Market Research - Product Policy Research - Pricing Research - Communications Research

15 Summary Primary objective of researcher is to provide: Timely Accurate
Relevant …data and analysis to Marketing Management Key word is ‘Robust”


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