1. Principles of Marketing Lecture-11

2. Summary of Lecture-10

3. The Macroenvironment

4. Demographic Technological Cultural Economic Political Natural Forces that Shape Opportunities and Pose Threats to a Company Forces that Shape Opportunities and Pose Threats to a Company

5. Today’s Topics

6. Analyzing Marketing opportunities and developing strategies- MIS

7. Analyzing marketing opportunities

8. Situation Analysis The Three Cs

9. Company Customers Competitors Market Potential (size, growth rate) Customer Behavior (wants and needs, segmentation, price sensitivity) Market Potential (size, growth rate) Customer Behavior (wants and needs, segmentation, price sensitivity) Industry Structure Analysis (entry/exit barriers, buyers, sellers, substitutes) Competitor Response Profiles (capabilities, current and future actions) Industry Structure Analysis (entry/exit barriers, buyers, sellers, substitutes) Competitor Response Profiles (capabilities, current and future actions) Economic Analysis (costs, break-even, profitability) Company Fit (strengths, weaknesses, resources, culture, goals) Economic Analysis (costs, break-even, profitability) Company Fit (strengths, weaknesses, resources, culture, goals)

10.  changing environment – opportunities and threats  changing firm situation – relative strengths and weaknesses  Fit - match opportunities with firm’s objectives and resources (strengths)  Market Information System

11. Marketing Information System (MIS)

12. People, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers.

13. The Marketing Information System Marketing managers Analysis Planning Implemen- tation Control Assessing information needs Distributing information Internal records Marketing decisions and communication Marketing environment Test markets Marketing channels Competitors Publics Macro- environment forces Marketing Information System Developing information Marketing intelligence Marketing research Marketing decision support analysis

14. Purpose?

15.  Determine decision makers’ information needs  Acquire needed information  Distribute information

16. Steps..  Assessing the Marketing Information Needs  Developing the Marketing Information  Analyzing Marketing Information  Distributing and using Marketing Information

17. Assessing Marketing Information Needs

18.  What Users would like to have?  What Really is need?  What is feasible to offer?  Costs of Information

20. Developing the Marketing Information

21.  Internal Records (Internal Data)  Marketing Intelligence  Marketing Research

22. Internal Records (Internal Data)

23. Information obtained from data source within the company

24. Marketing Intelligence

25. The systematic collection and analysis of publicly available information about competitors and developments in the marketing environment

26.  Competitors  Suppliers  Resellers  Customers  Published Information

27. Marketing Research

28. The systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization

29. Steps in the Marketing Research Process

30. 1. Problem Definition and the Research Objectives 1. Problem Definition and the Research Objectives 2. Developing the Research Plan 3. Implementation 4. Interpretation and Reporting of Findings 4. Interpretation and Reporting of Findings

31. Why Research?

32. Why Business Research ?

33. Business Research is …. Systematic & objective process – designing, gathering, analyzing & reporting information – used to solve a specific problem

34. Provides information for aid in making business related decisions – Identify opportunities – Generate & refine actions

35. Helps reduce risk inherent in decision making

36. Why is research important?

37. Provides an important link to customers Allows implementation of the business concept

38. Enables managers – to identify & understand stakeholders wants & needs – develop appropriate strategies to meet these needs

39. Enough for today...

40. Summary

41. Marketing Information System (MIS)

42. The Marketing Information System Marketing managers Analysis Planning Implemen- tation Control Assessing information needs Distributing information Internal records Marketing decisions and communication Marketing environment Test markets Marketing channels Competitors Publics Macro- environment forces Marketing Information System Developing information Marketing intelligence Marketing research Marketing decision support analysis

43. Next….

44. Steps in the Marketing Research Process

45. 1. Problem Definition and the Research Objectives 1. Problem Definition and the Research Objectives 2. Developing the Research Plan 3. Implementation 4. Interpretation and Reporting of Findings 4. Interpretation and Reporting of Findings

46. Principles of Marketing Lecture-11