session 4 mg 220 mba - 26 aug 10
DESCRIPTION
Session 4MG 220 Marketing ManagementMBA-10TRANSCRIPT
MG 220 Marketing ManagementMBA 10
Fall 2010
Muhammad Talha Salam, Asst. [email protected]
Access it online: www.slideshare.net/talhasalam
Part 2: Capturing Market Insights
> Review and revision of Part 1 with local examples
> Gathering Information & Scanning the environment
> Key Concepts in complete Chapter 3 will be covered
Class Presentation | Session 4 | 26 Aug 2010
MG 220 Marketing Management 2Access it online: www.slideshare.net/talhasalam
Components of a modern MIS(Marketing Information System)
• Everyone needs to observe the environment but marketers have two advantages:– Disciplined methods for collecting information– More time for interacting with customers & observe
competition
• Marketers understand and have extensive information on consumption patterns
• Companies with superior information enjoy a competitive advantage
MG 220 Marketing Management 3Access it online: www.slideshare.net/talhasalam
Components of a modern MIS(Marketing Information System)
• Marketing Information SystemConsists of:
People, Equipment and Procedures to Gather, Sort, Analyze and Distribute needed, timely and accurate information to marketing decision-makers
MG 220 Marketing Management 4Access it online: www.slideshare.net/talhasalam
Components of a modern MIS(Marketing Information System)
• Marketing Information Systemis developed from:1. Company’s internal records2. Marketing Intelligence Activities3. Marketing Research
• MIS should be a cross between:What managers think they needWhat managers really needWhat is economically feasible
MG 220 Marketing Management 5Access it online: www.slideshare.net/talhasalam
Internal Records & Marketing Intelligence
• Order-to-payment cycleReview of sales process & its complete transaction flowDoing it accurately and timely is the key
• Sales Information SystemsTimely & accurate reports on current salesNeed to correctly interpret sales data (red or yellow mustang?)
• Database, Data Warehousing and Data MiningCustomer databases, product databases, salespersons databasesUse them to interact correctly with customers
MG 220 Marketing Management 6Access it online: www.slideshare.net/talhasalam
Internal Records & Marketing Intelligence
• Marketing Intelligence SystemA set of procedures and sources managers use to obtain everyday information about developments in marketing environment
Several steps– Train and motivate sales force to gather & report information– Motivate distributors, retailers etc. to pass information (Mystery
shopping)– Network externally (purchasing competitors’ products, attend their
events etc. )– Customer advisory panels (interact with selected customers)– Government data resources (census reports etc.)– Purchase information from research houses etc.– Online customer feedback for competitive intelligence
MG 220 Marketing Management 7Access it online: www.slideshare.net/talhasalam
Analyzing the Macroenvironment
• Successful companies recognize and respond profitably to unmet needs and trends
• Fad, trend & megatrend– Fad is a “unpredictable”, short-lived and without social,
economic, political significance. (a new style of clothing)– Trend is a direction of sequence of events that has some
momentum and more predictable and durable than fads. (music scene in Pakistan)
– Megatrends are large social, economic, political and technological changes that are slow to form and [once in place], they influence us for sometime. (access to TV/news all over Pakistan)
MG 220 Marketing Management 8Access it online: www.slideshare.net/talhasalam
Analyzing the Macroenvironment
• Identifying the major forces– Demographic– Economic– Social-cultural– Natural– Technological– Political-legal
MG 220 Marketing Management 9Access it online: www.slideshare.net/talhasalam
Analyzing the Macroenvironment
• Demographic– Main demographic is population
– Population growth• Differences and trends in different countries and regions
and even cities
– Population Age mix– Ethnicity– Educational– Household patterns
• Family structures, collective lifestyles
– Geographical shifts in population
MG 220 Marketing Management 10Access it online: www.slideshare.net/talhasalam
Analyzing the Macroenvironment
• Economic–Markets require purchasing power [and
people!]
– Few important trends• Income distribution – a key development
indicator• Savings, Debt & credit availability• Outsourcing & Free trade
MG 220 Marketing Management 11Access it online: www.slideshare.net/talhasalam
Analyzing the Macroenvironment
• Social-Cultural Environment– Society’s impact on individuals and groups
– Some interesting ‘views’• How people view themselves• How people view others• How people view companies, organizations• How people view their society and values• How people view nature• How people view life, universe, religion
– Core beliefs and secondary beliefs– Sub-cultures– Shift of cultural values through time
MG 220 Marketing Management 12Access it online: www.slideshare.net/talhasalam
Analyzing the Macroenvironment
• Natural– Degradation of natural environment is a
serious issue
– Important O&Ts• Shortage of Raw materials
– Infinite– finite renewable– finite non-renewable
• Increased energy costs• Anti-pollution pressures• Changing role of governments
MG 220 Marketing Management 13Access it online: www.slideshare.net/talhasalam
Analyzing the Macroenvironment
• Technological– Changing the way we live and that too
rapidly!
– Innovation and new concepts– Cutting-edge research
MG 220 Marketing Management 14Access it online: www.slideshare.net/talhasalam
Analyzing the Macroenvironment
• Political-Legal Environment– Businesses are being regulated and
more controlled– SIGs• How companies can tackle with lobbying
Special Interest Groups
MG 220 Marketing ManagementMBA 10
Fall 2010
Muhammad Talha Salam, Asst. [email protected]
Access it online: www.slideshare.net/talhasalam
Part 2: Capturing Market Insights
> The Marketing Research System> The Marketing Research Process> QUIZ for Part 1 (Session 1 – 3)
Class Presentation | Session 5 | 30 Aug 2010