Transcript 2 – Marketing Information Systems

MARKETING INFORMATION
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.
Components

Internal Records System

Marketing Intelligence System

Marketing Research System
Internal Records and Marketing Intelligence

Order-to-payment cycle

Sales information system

Databases, warehousing, data mining

Marketing intelligence system
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 strategy
Realities of the company and its competitors
 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:
H
H
Always busy people
Fail to pass on important information
Sources of Marketing Intelligence

Company’s supply chain
 Suppliers
 Resellers
 Business
partners
 Business allies
 Other marketing intermediaries
Sources of Marketing Intelligence

Competitors
 Annual
reports
 Speeches and press releases
 Products and labels
 Advertisements and other marketing communications
 Web sites
Sources of Marketing Intelligence

Government sources
 Census
of population
 Census of industries
 Other government agencies and publications

Academic sources
 Theses
and research reports
 Academic journals
 Academic forum
Sources of Marketing Intelligence

Publications and mass media
 Television/radio
news
 Newspapers
 Magazines

and trade journals
Syndicated services
 Panel
data
 Retail audit
 Customized reports (on demand)
Analyzing Marketing Intelligence Data

Competitor analysis -- levels of competition
Brand Competition
Industry Competition
Form Competition
Generic Competition
Other companies offering a similar
product and services to the same
customer at similar prices
All companies making the same
product or class of products
All companies manufacturing
products that supply the same service
All companies competing for the same
consumer dollars
Analyzing Marketing Intelligence Data

Competitor analysis -- knowing about competitors
1. Who are our
competitors?
2. What are
their strategies?
4. What are their
strengths and weaknesses?
3. What are
their objectives?
5. What are their
reaction patterns?
Needs and Trends

Fads

Trends

Megatrends
Trends Shaping the Business Landscape





Profound shifts in centers of
economic activity
Increases in public-sector
activity
Change in consumer
landscape
Technological connectivity
Scarcity of well-trained
talent





Increase in demand for
natural resources
Emergence of new global
industry structures
Ubiquitous access to
information
Management shifts from art
to science
Increase in scrutiny of big
business practices
Environmental Forces






Demographic
Economic
Socio-cultural
Natural
Technological
Political-legal
Population and Demographics



Population growth
Population age mix
Ethnic markets



Educational groups
Household patterns
Geographical shifts
Economic Environment


Income Distribution
Savings, Debt, and Credit
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.
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.
Contents of a Marketing 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.
Contents of a Marketing Plan.
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)
Contents of a Marketing Plan.
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.
Contents of a Marketing Plan.
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?
The END