Lecture 7 Marketing Management Course for

Lecture 7 Marketing Management

1. In the Name of Allah, The Most Beneficent, The Most Merciful

2. Marketing Management Lecture Number. 07 Samana Johari Lecturer KASBIT Ema il: samana @kasbit.edu.pk

3. 22/05/2024 3 CHAPTER 3 Collecting Information and Forecasting Demand

4. Management Information System 22/05/2024 4 A  marketing information system (MIS) consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers. It relies on: internal company records, marketing intelligence activities, and marketing research

5. Components of a Modern Marketing Information System Data Integration Analytics Empowerment Customer Oriented Techniques Technology Integration Adaptation and Innovation 22/05/2024 5

6. Internal Company Records To spot important opportunities and potential problems, marketing managers rely on internal reports of orders, sales, prices, costs, inventory levels, receivables, and payables. The order-to-payment cycle Sales information systems Databases, data warehousing, and data mining 22/05/2024 6

7. Marketing Intelligence A marketing intelligence system is a set of procedures and sources that managers use to obtain everyday information about developments in the marketing environment. A company can take eight possible actions to improve the quality of its 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 . 22/05/2024 7

8. Collecting Marketing Intelligence On The Internet Here are five places to find competitors’ product strengths and weaknesses online. 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. 22/05/2024 8

9. Forecasting and Demand Measurement The measures of market demand Companies can prepare as many as 90 different types of demand estimates for six different product levels, five space levels, and three time periods 22/05/2024 9

10. The Measures Of Market Demand There are many productive ways to break down the market: The potential market is the set of consumers with a sufficient level of interest in a market offer The available market is the set of consumers who have interest, income, and access to a particular offer The target market is the part of the qualified available market the company decides to pursue The penetrated market is the set of consumers who are buying the company’s product 10

11. Analyzing the Macroenvironment 22/05/2024 11 POLITICAL ECONOMICAL SOCIAL TECHNOLOGICAL ENIVIRONMENTAL LEGAL Government Policy Political Stability Corruption Foreign Trade Policy Tax Policy Labor Law Trade Restriction Economic growth Exchange Rate Interest Rate Inflation Rate Disposable Income Unemployment Rate Population Age distribution Career Attitude Safety and security Health consciousness Cultural barrier Lifestyle Technological Advancement Innovation Automation R&D activities Technological Awareness Weather Climate Environmental policies Climate change Discrimination Law Employment laws Consumer Protection law Copyright and patent laws Health and safety laws