1. 1.05: Marketing information
Data-Based

2. Warm-up Comparing Goals, Strategies, & Tactics
_____. 1. A salesperson meets one-on-one with customers
_____. 2. A firm wants to increase sales by 10% over last year’s sales.
_____. 3. A salesperson calls to set up a meeting with a customer.
Goals
Strategies
Tactics

3. Warm-up Comparing Goals, Strategies, & Tactics Strategies Goals
______________ A salesperson meets one-on-one with customers
______________ A firm wants to increase sales by 10% over last year’s sales.
_____________ A salesperson calls to set up a meeting with a customer.
Strategies
Goals
Tactics

4. Announcements Grades are updated
If you are missing anything….get it in.
Unit 1 Test is Thursday (February 13, 2014)
Warm-ups
Print sheet from website
Handwrite is fine
Write the warmup question & answer.
Example of bad answers:
C, Promotion, Ideas, Service, Place, Demo
The warmups are your study guide for tests. Both parts matter.

5. Objectives

6. Which came first….
Egg
Chicken

7. Which Came First…
Data
Information

8. Data _______________ came before _Information__ Answer….
Data is simply facts & figures.
Information is facts & data presented in a useful form.

9. Key Term
Marketing Information: Marketing data available from inside and outside a business that have been processed and organized in a useful way.
Allows you to solve problems & plan effectively
Examine the past to predict the future
Inside: Ask customers questions & examine your own marketing mix
Outside: What is the competition doing?

10. Marketing Information: Nike

11. Nikes privacy policy Nike collects data all the time.
The data they use is turned into information to better their company.

12. Assignment: Write these 9 questions down
Identify types of information used in marketing decision-making.
Identify types of marketing information useful to marketers.
Describe ways that marketers use marketing information.
Explain the impact of marketing information on marketers.
Explain information contained in sales and expense reports that is monitored for marketing decision-making.
Describe information in reports provided by salespeople that is monitored for use in marketing decision-making.
Discuss information about customers that is monitored for marketing decision- making.
Explain information about competitors that is monitored for marketing decision- making.
Demonstrate procedures for identifying information to monitor for marketing decision-making.

13. Assignment: Write these 8 TERMS down
Marketing Information
Relationships
Facts
Predictions
Estimates
Request and complaint reports
Lost sales reports
Call reports
Activity reports.

14. Question #1
Define the term Facts.

15. Define the term Facts. Data that can be verified.
Answer #1
Define the term Facts. Data that can be verified.

16. Define the term Predictions.
Question #2
Define the term Predictions.

17. Define the term Predictions.
Answer #2
Define the term Predictions.
Predictions, sometimes called projections, are forecasts that people make about the future.

18. Define the term Estimates.
Question #3
Define the term Estimates.

19. Define the term Estimates.
Answer #3
Define the term Estimates.
Estimates are approximations of data.
They are educated guesses.

20. Marketing Info. Management
Facts v. Predictions v. Estimates
Facts are based off of actual events that occurred
Predictions are projections marketers make based off of research, observation, or previous facts
Determine future based off of current trends
There is a pattern that leads to the projection
Estimations are educated guesses or approximations

21. Examples of….. Facts Predictions Estimates (True Statement)
(Based off of trends)
Estimates
(Educated guess)
Coca-Cola’s natural color is green
Retail stores opening:
2011: 8 new stores opened
2012: 12 new stores opened
2013: 18 new stores opened
2014: ____ new stores opened
It will cost $1,500
to get your car fixed
Polar bears are left handed.
NBA Salary Cap:
2000: million
2005: million
2010: million
2015: ____ million
A pen costs $4.15.
A pen is closer $4.00 than $5.00
Buying 5 pens will cost $20.00

22. Identify types of information used in marketing decision-making.
Question #4
Identify types of information used in marketing decision-making.

23. Identify types of information used in marketing decision-making.
Answer #1
Identify types of information
used in marketing decision-making.
Facts, Predictions, & Estimates

24. Identify types of marketing information useful to marketers.
Question #2
Identify types of marketing information useful to marketers.

25. Answer #2: Identify types of marketing information useful to marketers.
Who the company’s current and potential customers are
What current and potential customers want (products, customer service, etc.)
Data about completed sales—what products are selling, and in which geographic territories, target market segments, etc.
How actual sales stack up to the company’s goals and budgets
How sales compare to those of other companies in the same industry
What the sales staff is doing and how much it is spending to make sales calls (travel, food, lodging, etc.)

26. Describe ways that marketers use marketing information.
Question #3
Describe ways that marketers use marketing information.

27. Answer #3 Describe ways that marketers use marketing information.
To identify realistic goals
Develop product strategies
Develop pricing strategies
Develop promotional strategies
Develop “place” strategies
Make budgeting decisions
Identify problems or issues
Evaluate results.

28. Explain the impact of marketing information on marketers.
Question #4
Explain the impact of marketing information on marketers.

29. Answer #4: Explain the impact of marketing information on marketers.
The overall impact of using marketing data wisely is positive.
It generates more competitive and successful products and creates more satisfied customers.
It also saves companies money and impacts the bottom line.

30. Question #5
Explain information contained in sales and expense reports that is monitored for marketing decision-making.

31. Answer #5: Explain information contained in sales and expense reports that is monitored for marketing decision-making.
Sales Report
Sales reports might cover the month, the quarter, the year, or an even longer period of time.
Expense Report
What an employee submits to their boss relating to the expenses they encounter while trying to make a sale.
Total dollar and unit sales
Costs of travel
Sales in relation to goals
Lodging
Sales in relation to budget
Food
Sales in relation to prior time periods
Entertainment
Increases/decreases in sales percentages
Cost of calling clients
Expense Report:

32. Describe information in reports provided by salespeople
Question #6
Describe information in reports provided by salespeople
that is monitored for use in
marketing decision-making.

33. Request / Complaint Reports
Answer #6: Describe information in reports provided by salespeople that is monitored for use in marketing decision-making.
Information in reports provided by salespeople that is monitored for use in Marketing Decision-Making
Request / Complaint Reports
Lost Sales Reports
Call Reports
Activity Reports
Retail Audits:
Measure market sales, competitor’s sales, market share, prices, special offers, stock levels by week or day to day
Product Information:
Types of products that sell best at various times of year; colors or sizes of products customers prefer

34. Question #7
Discuss information about customers that is monitored for marketing decision-making.

35. Customer records should include data such as:
Answer #7: Describe information in reports provided by salespeople that is monitored for use in marketing decision-making.
Customer records should include data such as:
Who they are, where they are, & how the company interacts with them
Specific Examples:
The customer’s contact information (name, address, , company web site, etc.)
The customer’s industry
The number of sales calls made and name(s) of salesperson(s)
Sale amounts in dollars and units
Annual purchases and product usage

36. Explain information about competitors that is monitored for
Question #8
Explain information about competitors that is monitored for
marketing decision-making.

37. Answer #8: Explain information about competitors that is monitored for marketing decision-making.
USP’s (unique selling points) of our product vs. competition to find our advantage.
Financial records for public companies (GE, Ford, Apple)
Insight into company’s strengths, weaknesses, and future plans (new products, marketing campaigns)
Market share analysis
Sales volume data

38. Question #9
Demonstrate procedures for identifying information to monitor for marketing decision-making

39. Answer #9: Demonstrate procedures for identifying information to monitor for marketing decision-making
Identify needed data
Create a plan for collecting, storing and analyzing data
Compile a list of secondary sources providing needed data
Retrieve needed data
Analyze/use data

40. Marketing decisions
Marketers identify, gather, organize, analyze, and use data for marketing decision making
Information collected is done through two types of sources
Primary: Information that comes from new research the organization carries out on its own initiative.
Secondary: Information that comes from research that is already available

41. Primary v. secondary data
Current Customers
Company Sales Records / Invoices
Vendors
Financial Statements
Employees
Customer Databases
Management
Customer Comment Cards
Channel Members
Trade Associations & Publications
Former Customers
Competitor’s Website
Prospective Customers
Directories

42. Term #4
Relationship

43. A connection, association, or involvement
Term #4: Relationship
A connection, association, or involvement

44. Request & Complaint Report
Term #5
Request & Complaint Report

45. Term #5: Request & Complaint Report
A record of customers and the product(s) that they requested, along with records of complaints made by customers.

46. Term #6
Lost Sales Report

47. Term #6: Lost sales report
Records why items or orders are cancelled or is used to estimate the total sales that stand to be lost because items are understocked.

48. Term #7
Call Reports

49. Term #7: Call Reports Records of sales calls.
Since not every sales call results in a sale, there are not always invoices to refer to for needed data.
A call report records useful information whether or not a sale is made.
In call reports, salespeople keep track of data including:
Prospect contacted
Prospect’s needs
Product(s) discussed
Names of contacts
Orders obtained

50. Term #8
Activity Reports

51. Term #8: Activity Reports
Reports requiring salespeople to provide details as a measure of their activity in a given period