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Marketing at Work

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Marketing at Work

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    1. Marketing at Work Marketing Information System Group 8

    2. Group 8 Members

    3. Introduction Conducting Marketing Research Forecasting Demand Marketing Intelligence

    4. Conducting Marketing Research Market research is an effective way to learn about potential customers, their opinions, habits, trends and future plans. Use it to determine the geographic area of a business and demographic characteristics of customers such as age, gender, income and educational level. Market research may make the difference between the right and wrong decisions that affect sales. It may reveal unfilled needs, suggest marketing strategies or identify the competition's strengths and weaknesses. Business cannot afford poor decisions. Market research involves asking questions, recording information and taking time to learn from the information. Market research develops an information base to estimate sales, develop market strategy and decide how to enter the market. One approach to market research is to compare customer needs and wants to competitors' weaknesses as well as to customer demographics.

    5. Conducting Marketing Research Process Step 1: Define the problem, the decision alternatives, and the research objectives. Step 2: Develop the research plan. Step 3: Collect the information. Step 4: Analyze the information. Step 5: Present the findings. Step 6: Make the decision.

    6. Forecasting Demand Forecasting Demand is the activity of estimating the quantity of a product or service that consumers will purchase. Demand forecasting involves techniques including both informal methods, such as educated guesses, and quantitative methods, such as the use of historical sales data or current data from test markets. Demand forecasting may be used in making pricing decisions, in assessing future capacity requirements, or in making decisions on whether to enter a new market.

    7. Forecasting Demand Process Step 1: Determine the purpose of the forecast. Step 2: Establish a time horizon. Step 3: Select a forecasting technique. Step 4: Obtain, clean and analyze appropriate data. Step 5: Make the forecast. Step 6: Monitor the forecast.

    8. Marketing Intelligence Market Intelligence (MI), according to Cornish, “the process of acquiring and analyzing information in order to understand the market (both existing and potential customers); to determine the current and future needs and preferences, attitudes and behavior of the market; and to assess changes in the business environment that may affect the size and nature of the market in the future.”

    9. Marketing Intelligence Market Intelligence can be divided into two spheres Market Intelligence based on external data Market Intelligence based on internal data internal Often Market Intelligence relies purely on external data such as analysts reports, but there is often a great deal of untapped information internally that would give you an insight into your market, from sources such as databases and prospect lists, and an holistic view can prove very insightful.

    10. Conduct Marketing Research & Forecast Demand

    11. Simple Layout

    12. Data Mining Process

    13. Data Information Product Time Preference Price Store Inventory Competitors Info

    14. Various Source of Data/Information

    15. Application of Data/information

    16. Successful Strategy

    20. Marketing Information System the use of internet in acquiring information Advantage Can be accessed more quickly Less expensive Disadvantage Incomplete or misleading information Wrong form for decision making Amount of information

    21. Data Gathering : Formal : Internet Informal : Hall talks, physical evidence, dumpster diving Advertisement Negative Campaign on rivals. Positive Campaign on your brands and products. Ethical issues : Aggressive but not illegal Counter Intelligence Providing competitive marketing intelligence training. Encounter the competitors‘ determined marketing intelligence efforts.

    22. Formal source: Internal: executives, engineers, sales force, etc. External: suppliers, resellers, key customers, etc. Internet : online databases, annual reports, provide data to attract customers, partners, suppliers Informal source : Taking advantage of publicly available information. Dumpster diving vs. ethical issues. Dumpster diving : look after every details of competitors, even their garbage, as a comparison. It is legal but against the ethical issues between competitors, being impolite in the competition.

    23. Advertisements-Positive campaigns (Anheuser) Environment awareness: Today, many companies are "going green." But Anheuser-Busch is proud of their tradition of environmental stewardship dates back to our founder, Adolphus Busch In the late 1800s, he began recycling leftover grain from the brewing process, using it for cattle feed, a practice that continues today. Recycle more than 99 percent of the solid waste they create . Subsidiary Anheuser-Busch Recycling Corp. is one of the world's largest recyclers of aluminum beverage containers, recycling more than 27 billion cans annually. That's five cans for every four we package.

    24. Advertisements-Positive campaigns (Anheuser) Strive to conserve water and energy: Bio-Energy Recovery System (BERS), a technology that uses nutrient-rich wastewater from the brewing, lowers greenhouse gas emissions. Environment responsibilities: Recycling and Packaging Water conservation Energy Wildlife and habitat

    25. Advertisements-Positive campaigns (Anheuser) Social responsibilities: Charity giving: Support a variety of causes including education, health care and human services, minority leadership and economic development, civic, cultural enrichment and environmental conservation. Disaster relief Responsibility matters: Anheuser-Busch is the global industry leader in promoting responsibility, with ads dating back to the early 1900s.

    26. Advertisements-Positive campaigns (Anheuser) Responsibility matters: Since 1982, the company and its wholesalers nationwide have invested more than $750 million in alcohol awareness and education programs and partnerships. Underage drinking: Anheuser-Busch is adamantly opposed to underage drinking and working hard to be part of the solution. Drunk driving: Anheuser-Busch has developed and implemented a variety of programs to fight drunk driving. College issues: Anheuser-Busch is committed to addressing alcohol abuse issues on college campuses. Responsible drinking: Anheuser-Busch has a vested interest in the responsible consumption of its products.

    27. Advertisements-Negative campaigns Emphasize on rivals weaknesses, to make it publicly known. Put more strength in your each advertisements by adding offensive style about rivals in your ads. Public discussion with rivals as a way to show everything up to the public. Advertising expertise in the aggressive way on your rivals, the use of advertisement consultancy.

    28. Counter Intelligence Provide competitive marketing intelligence training Protect your own information Develop spying skills to observe your competitors. Analyze online databases and information of competitors such as Financial reports, etc. Provide an invisible team for designing marketing intelligence as the main weapon to face competitors.

    29. Conclusion - Key of success Aware of rival’s intelligence. Periodically assess changes in business environment. Provide your company’s competitive marketing intelligence skills. Data gathering, sharp collecting and reading. Protect your precious company’s data. Spy vs. spy. Provide online databases of your competitors. Secured your internal from spies. Diligence in surveys and questionnaires. Be careful in selecting data to be published.

    30. Suggestions Do not dive dumpster too much as it maybe a trap for your company. Do not response too much to rival’s changes. Be wise of securing internal from spies.

    31. Q & A Dilemmas in Marketing Intelligence; Providing a large numbers of information about your company; between attracting customers, investors or giving information to your competitors. Which one is better? We should compromise on the condition and needs, but be wise to select the openness to public, considering the backfire chance. Is the Dumpster diving really effective or is it a trap from rivals? It is effective, but it’s also possible for rivals to create a trap for us who like to find information through dumpster diving.

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