marketing intelligance system

MARKETING

INTELLIGENCE

SYSTEM

Marketing Information System. (MIS)

Consists of people, equipment, and

procedures to gather, sort, analyze, evaluate and distribute timely and

accurate information to decision makers.

Marketing Intelligence System

A Marketing Intelligence System is a

set of procedures and sources used by

managers to obtain everyday information

about developments in marketing environment.

Components of Intelligence System

• Customer Intelligence: This provides useful information on a customer’s business, preferences or loyalties, personal demographic details.

• Competition Intelligence: This gives information on strengths and weaknesses of each competitor in the territory, the strategy and the tactics being used by them.

Purposes of Marketing Intelligence

• Customer satisfaction• Creative and effective marketing strat

egy• Realities of the company and its comp

etitors– Strengths and weaknesses

• Realities of the marketplace– Opportunities and threats

• Competitive advantage• Anticipate the competitive move and

develop competitive strategies

Scope of Marketing Intelligence

• External environment

• BPEST Analysis

– Business (industry)

– Political and legal environment

– Economic and demographic environment

– Social and cultural environment

– Technology and natural environment

Sources of Marketing Intelligence

• Company’s own personnel– Executives– Consultants and specialists– Purchasing agents– Salespersons– Other employees

Issue: Always busy people Fail to pass on important information


• Company’s supply chain– Suppliers– Resellers– Business partners– Business allies– Other marketing intermediaries


• Competitors– Annual reports– Speeches and press releases– Products and labels– Advertisements and other marketing com

munications– Web sites


• Government sources– Census of population– Census of industries– Other government agencies and publicatio

ns

• Academic sources– Theses and research reports– Academic journals– Academic forum


• Publications and mass media– Television/radio news– Newspapers– Magazines and trade journals

• Syndicated services– Panel data– Retail audit– Customized reports (on demand)

Analyzing Marketing Intelligen ce Data

• -- Competitor analysis knowing aboutcompetitors

1. Who are ourcompetitors?

2. What aretheir strategies?

3. What aretheir objectives?

4. What are theirstrengths and weaknesses?

5. What are theirreaction patterns?

Analyzing Marketing Intelligen ce Data

• -- Competitor analysis levels of competition

Brand Competition

Industry Competition

Other companies offering a similar

product and services to the s ame

customer at similar prices All companies making thesame

product or class of products

Form Competition

Generic Competition

All companies manufacturing products that supply the same

service

All companies competing for t he same consumer dollars

Need For Business Reporting.

A marketing intelligence system relies on internal

company records, marketing intelligence

activities and marketing research.

Contents of a Marketing Plan.

1) Executive Summary:

• This presents an overview of the

proposed plan for quick management

skimming.

• It helps higher management to

quickly grasp the major thrust of the

plan.


2) Current Marketing Situation:

• This presents relevant data related to industry, market, product, competition, distribution and environment.

• Many issues can surface up during the discussions of market situation.


3) Opportunity and Issue analysis:• This summarizes the main

opportunities/threats, strengths/weaknesses and issues facing the product that the plan must deal with. (SWOT Analysis)


4) Objectives: This defines the goals, the plan wants to reach in the areas of sales volumes, market share, profits and customer satisfaction.

5) Marketing Strategy: This presents the broad marketing approach that will be used to meet the plan’s objectives.


6) Action Programs/Plans: This answers what will be done?, who will do it?, when will it be done? And how much will it cost?

7) Projected Profit & loss statement: This summarizes the expected financial payoff from the plan.

8) Controls: This tells how will the plan be monitored?

Data Mining and Warehousing

• Data Mining: Database marketing, customization and CRM require effective information management.

• The first organization to use data warehousing and mining is Wal-Mart.

• Eg. Small retail shop

Data Mining and Warehousing

• Data Warehousing: Data Warehousing is an IT architecture, aimed at storing and organizing information in a meaningful manner.

• Eg. To the Salesman, a data warehousing should be able to provide information on the customer’s background, the last sales call, the status of any customer complain received.

Research Process

• Problem Definition• Defining research objectives• Working out a research design• Deciding on the sources of data• Planning and deciding on data

collection techniques and tools• Analyzing data• Making a report and presenting it to

the decision makers

Research Design

Exploratory Research-:•It is conducted when the researcher does not know how and why a certain phenomenon occurs.•In doing so, they used focus groups. Since the prime goal is to know the unknown, this research is unstructured.

Research Design

Descriptive Research-:•Descriptive research is carried out to describe a phenomenon or market characteristics.

•For Eg. A study to understand buyer behavior to describe the characteristics of the target market.

Research Design

Causative Research-:•It is done to establish a cause and effect relationship.

•For Eg. The influence of income and lifestyle on purchase decisions.

Open Ended Questions

Close Ended Questions

Ordinal Scales

Interval Scales

Semantic Differential Scale

Multi-Point Rating

1 – 5 Rating and Comment

Questionnaire

Short Answer Questionnaire

Types of Questionnaires

Examples of Different Types of Questionnaires

Open Ended Questions•Where the person who is filling the questionnaire is been given a choice.

Close Ended Questions•Where the person who is filling the questionnaire is not been given a choice.

Nominal Scales

• The Open Ended and the Close Ended Questions are also known as Nominal Scale Questions

Ordinal Scales

• Ordinal Scales are those where you need to rank according to your choice with the options available.

Interval Scales

• Interval Scales are those scales where in you need to rank according to your choice.

• The difference here is it would be measured in Strongly agree, agree, neither agree nor disagree, disagree, strongly disagree

Semantic Differential Scale

• Another type of scaling questionnaire.

• Positive and negative adjective can be used.

• Each serves as positive and negative end of a continuum that characterizes the stimulus.

Multi-Point Rating Questionnaire

1-5 Rating + Comment Questionnaires

References

• Marketing Management by Philip

Kotler, Kelvin Lane Keller, Abraham

Koshy.

• Marketing Management- Thakur

Publication

THANK YOU