Transcript Data Do It Need for Marketing Data

Data Do It
Need for Marketing Data
1.05
MARKETING
Warm-up
Comparing Goals, Strategies, & Tactics
_____.
1. A salesperson meets one-on-one with customers
A.
Goals
_____. 2. A firm wants to increase sales by 10% over last year’s sales.
B.
Strategies
C.
Tactics
_____. 3. A salesperson calls to set up a meeting with a customer.
Warm-up
Comparing Goals, Strategies, & Tactics
______________.
1. A salesperson meets one-on-one with customers
______________.
2. A firm wants to increase sales by 10% over last year’s sales.
_____________.
3. A salesperson calls to set up a meeting with a customer.
Announcements
Test
50
 1.01:
is Monday, October 6, 2014
Multiple Choice Questions
Seven Functions & Marketing Concept
 1.02:
Marketing careers
 1.04:
Marketing Mix & Market Segmentation
 1.05:
Marketing Information Management (MIM)
1.05:
Marketing Information Management

Total Recall Section

Questions 1 – 8

Define Facts, Estimates, & Predictions

What data can marketers gather from:

Salespeople

Customers

Competitors

Suppliers & Distributors

News & Trade Journals
Marketing Info. Management
 Facts
 Facts
v. Predictions v. Estimates
are based off of actual events that occurred
 Predictions
are projections marketers make based off of
research, observation, or previous facts
Determine future based off of current trends
There is a pattern that leads to the projection
 Estimations
are educated guesses or approximations
Examples of…..
Create your own Example
Create a table with 5 Columns
What useful data can marketers gather from…..
Salespeople
Who the company’s current &
potential customers are
What do current & potential
customers want
Data about completed sales
How do actual sales compare to
company goals & budgets
How sales compare to those of other
companies in the same industry
What the sales staff is doing and
how much it is spending to make
sales calls (travel, food, lodging,
etc..)
Customers
(Sales Invoice)
Competitors
Suppliers & Distributors
News & Trade Journals
Information Sources for Marketers
What information can we obtain from salespeople?






Who the company’s current and potential customers are
What current and potential customers want
Data about completed sales: what products are selling, and in which
geographic territoires, target market segments, etc.
How actual sales stack up to the company’s goals and budgets
How sales compare to those of other companies in the same industry
What the sales staff is doing and how much it is spending to make sales
calls (travel, food, lodging, etc.)
Marketing Info.
Management

Information from Customers

Sales Invoices are itemized
statement of money owed for
a good or service
 Customer’s
contact info
 How
much money customer
spends
 What
customer is buying
 Payment
method
Marketing Info. Management

Competitors

Need to be current with what competition is doing
 Access
 Stock
 Visit
Prices
websites
 Mystery

annual reports
Shopper Programs
Observable data allows you to gain insight into their
marketing decisions
Providence High School

What could I do to find out information about Providence High School?

Go to their school website

2012 graduation highlights, faculty page explains course offerings, clubs offered, athletic
information

Visit 3rd party websites: Greater Schools (Yelp of Businesses)

State Report Card from NC Department of Education

Visit their school, talk to students/staff that attend there, etc..
Marketing Information Management

Suppliers & Distributors

A supplier is a vendor

Vendors is someone from whom a business purchases products from

What vendors does Ardrey Kell use to operate?



Cleaning, Spirit Gear, Textbook, Class Resources, Furniture, Athletic Fields, etc..
Vendors can supply insight into industry trends, pricing, products, etc..
Distributors

Wholesalers communicate with vendors about their products

Sams Club might tell Gatorade that the G2 fruit punch isn’t selling or customer feedback about
returned items
Marketing Information Management

News & Trade Journals

Paying attention to current events

In Marketing Ad Age & Advertising
Weekly are good resources to keep
curriculum current
Objective B: Ways Marketers Use Data

Marketers collect data

Marketers Analyze Data

Bad Goals:
Ms. Shaffer will run every week.

SMART Goals

Specific

Measurable

Achievable

Realistic

Time-Bounded

Good Goal:
Ms. Shaffer will run 25 miles a week for the
next 12 weeks.
Marketing Info. Management

What do marketers do with the data they collect?

Set goals

Develop Marketing Mix (4 P) Strategies

Budgeting Decisions

Monitor any problems / issues that arise

High level of Customer Service & After Service Sale

Maintaining valuable, profitable relationships with Vendors/Suppliers

Support & Train Salespeople

Evaluate Results: Look at sales reports
Marketing Information
Management
REPORTS
Marketing Decisions

Marketers identify, gather, organize, analyze, and use data for
marketing decision making

Information collected is done through two types of sources

Primary: Information that comes from new research the organization carries out on
its own initiative.

Secondary: Information that comes from research that is already available
Primary v. secondary data
Primary
Secondary
Current Customers
Company Sales Records / Invoices
Vendors
Financial Statements
Employees
Customer Databases
Management
Customer Comment Cards
Channel Members
Trade Associations & Publications
Former Customers
Competitor’s Website
Prospective Customers
Directories
Explain information contained
in sales and expense reports
that is monitored for marketing
decision-making.
Answer #5:
Explain information contained in sales and expense reports that
is monitored for marketing decision-making.
Sales Report
Expense Report
Sales reports might cover the month, the
quarter, the year, or an even longer period of
time.
What an employee submits to their boss relating to
the expenses they encounter while trying to make
a sale.
Total dollar and unit sales
Costs of travel
Sales in relation to goals
Lodging
Sales in relation to budget
Food
Sales in relation to prior time periods
Entertainment
Increases/decreases in sales
percentages
Cost of calling clients
Expense Report: http://www.youtube.com/watch?v=744yWpwK0mU
Describe information in reports
provided by salespeople
that is monitored for use in
marketing decision-making.
Describe information in reports provided by salespeople that is
monitored for use in marketing decision-making.
Information in reports provided by salespeople that is monitored for use in Marketing
Decision-Making
Request / Complaint Reports
Lost Sales Reports
Call Reports
Activity Reports
Retail Audits:
Measure market sales, competitor’s sales, market share, prices, special offers, stock levels by week or day to day
Product Information:
Types of products that sell best at various times of year; colors or sizes of products customers prefer
Term #5
Request & Complaint
Report
Term #5: Request & Complaint Report
A record of customers
and the product(s) that they requested,
along with records of complaints made
by customers.
Term #6
Lost Sales Report
Term #6: Lost sales report
Records why items or orders are cancelled or
is used to estimate the total sales that stand
to be lost because items are understocked.
Term #7
Call Reports
Term #7: Call Reports

Records of sales calls.

Since not every sales call results in a sale, there are not always invoices to refer
to for needed data.

A call report records useful information whether or not a sale is made.

In call reports, salespeople keep track of data including:

Prospect contacted

Prospect’s needs

Product(s) discussed

Names of contacts

Orders obtained
Term #8
Activity Reports
Term #8: Activity Reports
Reports requiring salespeople to
provide details as a measure of
their activity in a given period
Warranty Card

When a customer purchases a product with a warranty, s/he is
usually required to provide the manufacturer and/or retailer with
some basic data such as:

where the product was purchased

how much the product cost

reason for purchase

Services they expect
Vocabulary Walk
7 Functions Questions
A.
Product / Service Management
B.
Financing
C.
Channel Management
D.
Marketing Information Management
E.
Pricing
F.
Promotion
G. Selling
Marketing Mix Questions
A.Product
B. Place
C.Price
D.Promotion
A. Strategy
B. goals
c. tactics

Visit the new neighbors, handing out coupons for one free visit.

Sell 25 new memberships this year.

Call the new neighbors to let them know about the health club’s
services.

Mail information to the new neighbors.

Introduce health-club services to the many new neighbors.

Find out who the new neighbors are.
Market Segmentation Questions
 Each
question will have the same answer set:
A.
Demographics
B.
Geographics
C. Pyschographics
D.
Behavioral