Marketing 1.05 – Marketing Information Management

what are the three types of information used in marketing decision making?
customer, Marketing mix, business environment
what are the four marketing segments?
Demographics, Geographics, Psychographics, Behavioral
what is marketing mix?
Product, Price , Place, Promotion
why does a business use the SWOT Analysis?
type of competition, competitors’ Strengths , competitors’ strategies, economic conditions, government regulations, new technology, ethical issues , tax policies, proposed laws , international markets, customer protection
Define SWOT:
Strengths, Weaknesses, Opportunities, Threats
what can be identified using the Marketing Information?
potential customers, potential products, marketing opportunities, solve marketing problems, implement marketing plans, and monitor marketing performance
what are the impacts of Marketing information on marketers?
solve problems, helps answer questions about their product and promotion, future plans , understand markets.
what are the two ways marketers use marketing information?
analyze, track
define ANALYZE
summarizing, combining, or comparing information so that decisions can be made.
explain TRACK
track what is happening in current markets- determine major competitors, what major competitors are offering, which products consumers prefer, customer satisfaction with product.
Sales and Expense reports monitored for marketing data
Market Share Analysis
Sales Volume Analysis
Market Share Analysis
the percentage of all sales within a market that is held by one brand/ product or company.
Sales Volume Analysis
a detailed study of an organization’s sales, in terms of units or revenue, for a specific period.
Information provided by salespeople
request&complaint reports, lost sales reports, call reports, activity reports, retail audit, product info reports
request& complaint reports
products customers requested and problems customers reported
lost sales reports
cancelled orders or under stocked items
call reports
what happened in each sales call
activity reports
all travel, phone calls and in person sales calls for a give period of time