Part 2 - Capturing Marketing Insights
Part 2 - Capturing Marketing Insights
Part 2 / Chapter 3
Outline
Chapter 3. Collecting Information and Forecasting
Demand
Chapter 4. Conducting Marketing Research
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Questions
What are the components of a modern marketing
information system?
What are useful internal records for a marketing
information system?
What makes up a marketing intelligence system?
What are some influential macroenvironment
developments?
How can companies accurately measure and forecast
demand?
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Internal Records
ORDER-TO-PAYMENT CYCLE
SALES INFORMATION SYSTEMS
DATABASES, DATA WAREHOUSING, AND DATA
MINING
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Marketing Intelligence
The Marketing Intelligence System
A marketing intelligence system is a set of procedures
and sources that managers use to obtain everyday
information about developments in the marketing
environment.
The internal records system supplies results data, but the
marketing intelligence system supplies happenings data.
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Marketing Intelligence
8 actions to improve marketing intelligence
Train and motivate the sales force to spot and report new developments
Motivate distributors, retailers, and other intermediaries to pass along
important intelligence
Hire external experts to collect intelligence
Network internally and externally
Set up a customer advisory panel
Take advantage of government-related data resources
Purchase information from outside research firms and vendors
Purchase information from outside research firms and vendors
Collect marketing intelligence on the internet
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Marketing Intelligence
COLLECTING MARKETING INTELLIGENCE ON THE
INTERNET
Independent customer goods and service review forums
Distributor or sales agent feedback sites
Combo sites offering customer reviews and expert
opinions
Customer complaint sites
Public blogs
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environment:
demographic
economic
social-cultural
natural
technological
political-legal
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Keywords
Marketing information system (MIS), internal record, orderto-payment cycle, sales information system (SIS),
database, data warehousing, data mining, marketing
intelligence system, fad, trend, megatrend,
macroenvironment, demographics, economic environment,
sociocultural environment, forecasting, demand
measurement,
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Questions
What is the scope of marketing research?
What steps are involved in conducting good marketing
research?
What are the best metrics for measuring marketing
productivity?
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insights.
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Define the
problem
and
research
objectives
Develop
the
research
plan
Collect the
information
Analyze the
information
Present the
findings
Make the
decision
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Internal
Awareness
Market share
Number of complaints
Consumer satisfaction
Distribution/availability
Total number of customers
Perceived quality/esteem
Loyalty/retention
Relative perceived quality
Awareness of goals
Commitment to goals
Active innovation support
Staffing/skill levels
Desire to learn
Willingness to change
Freedom to fail
Relative employee satisfaction
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Keywords
Marketing research, research firm categories, methods of
marketing research, marketing research process, define
problem and objective, research plan, collecting
information, analyzing information, presenting findings,
making decision, measuring marketing productivity,
marketing metrics, marketing-mix modeling, marketing
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