scanning the marketing environment chap 3
TRANSCRIPT
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Scanning the Marketing
EnvironmentPresented by: Group 1Shweta Jayaprakash
Akshay P S
Archana Vijaykumar
Sujin Thomas
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Components of a Modern Marketing
Information System
It consists of people, equipment, and procedures to gather, sort, analyse, evaluate, and
distribute the needed information to marketing decision makers.
It relies on:
Internal company records
Marketing Intelligence System
Marketing research system
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Internal Records
Marketing managers rely on internal reports to spot important opportunities. The
different types of internal records include,
(1) The Order-to-Payment Cycle
(2) Sales Information Systems
(3) Databases, Data warehousing
(4) Data Mining.
The Order-to-Payment Cycle : It is a system that gathers and records information on
the time taken from the stage of placing orders by consumers to the stage of receiving
payments.
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Internal Records
Sales Information Systems:--
Its a flexible tool that helps you collect , consolidate and utilize data from sales and
distribution processing.
Provides timely and accurate information and reports on current sales of the company
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Data Warehousing
Its a database that can be used for reporting and analysing data.
It stores current as well as historical data .
It can be used for creating trending reports for senior management reporting
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Data Mining
Its the process of analysing data from different perspectives and summarising it into
useful information.
It lets users to analyse data from different dimensions.
Its the analysis of large quantities of data to extract unknown information.
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Marketing Intelligence
A marketing intelligence system, is a set a procedures that managers use to obtain
everyday information about the happenings in the marketing environment.
It supplies the happenings data.
It is collected in various ways like, reading books, newspapers, and trade publications,talking to customers, suppliers and distributers, monitoring social media on the
internet, meeting with other company managers etc.
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Improving Market Intelligence
TRAINING AND MOTIVATING THE SALES FORCE :-- Sales force is considered to be the
Intelligence Gatherers of the company. The acquired facts can be regarding the
companys market offerings , whether any improvements are require, or if there is any
opportunity for new products.
The sales team accomplishes this task by observing the competitors actions, listeningto the voice of trade channels and customers, etc.
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Improving Market Intelligence
INTERNAL & EXTERNAL NETWORKING: Specialists are hired by the company to gathermarketing intelligence.
In order to measure the quality of products, the relation between employees andcustomers, quality of facilities being provided, retailers and service providers sendmystery shoppers.
The firms can also purchase the competitors products, their published reports, attendstockholders meetings, and look up news stories about the competitors.
SET UP CUSTOMER ADVISORY PANEL: Setting up customer advisory panels will help thefirms get advice from a group of existing customers regarding the industry trends,business priorities, and strategic direction
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Improving Market Intelligence
OPTIMAL USE OF GOVERNMENT DATA SOURCES : Governments of almost all countries
provide reports regarding the population trends, demographic characteristics,
agricultural production and a lot of other data. This can be used by the firms.
INFORMATION BOUGHT FROM EXTERNAL SUPPLIERS: The firms can purchase
information from certain agencies that sell data
COLLECTING COMPETITIVE INTELLIGENCE THROUGH ONLINE CUSTOMER FEEDBACK :
Sources for customer feedback include, online platforms like chat rooms, discussion
forums, customer review boards, etc. This will help the firms to get customer
impressions and experiences.
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Analyzing the Macroenvironment
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Fad
Characteristic featureUnpredictable, short-lived & without social, economic &
political significance
Companies can cash in but requires luck & good timing
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Trend
Direction or sequence of events with momentum & durability
More predictable & durable than a fad
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Megatrend
Large social, economic, political & technological change that is slow to form & once in
place influences people for a period of 7 to 10 years or longer
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Demographic Environment( PPEEH)
World-wide Population Growth : Analyze the population growth, Identify the
urban & rural population etc
Population age mix : Differentiate based on age groups such as preschool
children, school-age children, teens, young adults,
middle aged adults & older adults
Ethnic& other markets : Ethnicity & racial diversity is checked across the coun
Educational Groups : Differentiate based on educational qualifications suc
high school diplomas, college degrees etc
Household patterns : Differentiate based on nuclear & joint families
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Demographic Environment
Titans Fastrackbrand dedicated for
the urban youth
Fastrack has strived to set itself apart
as a brand for the youth with their
bold & often controversial commercials
Creating the bold & sassy appearance
is something Faststrack has consciously
taken up to get the youth population
hooked on
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Economic Environment (CP, ID,CP)
Consumer Psychology : Consumer spending depends on disposable
income, socio-economic profiles etc
Income Distribution : Marketers classify countries based on income
levels such as mostly low incomes, mostly
medium incomes( subsistence , raw material
exporting, industrializing, industrial)
Consumption Patterns : Income class & Consumptions patterns are
matched & the trends are observed
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Sociocultural Environment
Views of ourselves
Views of others
Views of organizations
Views of society
Views of nature
High Persistence of Core Cultural ValuesCore beliefs & Secondary beliefs
Existence of SubculturesIdentify groups with shared beliefs, values, preferences
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Sociocultural Environment
More number of onlinematrimony services have become
available recently
These matrimony services cater to
the core belief of arranged
marriages prevalent in our country
Combining the core belief & the
power of online connectivity has
made it a successful venture
Advertisements focus on keeping
the traditional & cultural beliefs
intact
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Natural Environment
Corporate environmentalismRecognition of the need to integrate environmental
issues into firms strategic plans
Growing rise in researching other alternative sources of energy
Firms have to develop substitute products to replace non-renewable resources to stay
in the market
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Technological Environment
Marketers should monitor the following trends
Accelerating Pace of Change
Unlimited Opportunities for Innovation
Varying R&D budgets
Increased Regulation of technological gain
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Technological Environment
Apple Inc has constantly come out in
the market with innovative, out-of-the-
box ideas, products & services
Brand image that Apple has created is
not just due to sheer technological
brilliance but also their rigorous &
well-developed marketing strategies
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Political-legal Environment
Laws, government agencies & pressure groups influence various organizations &
individuals
Two major trends
Increase in business legislationProtect companies from unfair
competition, protect consumers from unfair business practices
Growth of special interest groupsNGOs lobbying to respect the rights
of women, children, senior citizens
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Political-legal Environment
Milma has been ordered by KeralaHigh Court to remove Fresh & Pure
imprint
This was issued on the grounds that it
contained skimmed milk
Many milk federations in the country
use similar lines on their products
despite using skimmed milk
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