Professional Documents
Culture Documents
Marketing environment
Marketing envt
Broadly classified into 2 groups Micro envt Macro envt Micro envt is the controllable envt Where as the macro envt Both micro and macro factors affect the organisation
company
In designing marketing plans marketing management communicates and takes help from other dept like Top management Finance Research and development Purchasing Operations And accounting
suppliers
Suppliers form an important in the companys customer value delivery system Marketing mangers should take care of all supply related issues
Marketing intermediaries
Firms that help the company to promote , sell, and distribute its goods to final buyers they include resellers, physical distribution firms-help the company to stock and move goods from their points of origin to their destinationslike ware house marketing service agencies-are the marketing research firms , advertising agencies, media firms, and marketing consulting firms that help the company to achieve the target and financial intermediaries-includes banks, credit companies, insurance companies, and other business that help financial transaction
Company needs to study 5 customer markets closely Consumer market consists of individuals and households that buy goods and services for personal consumption Business markets buy goods and services for further processing or for use in their production Resellers market where buying f goods and services and reselling at a profit Government markets are made up of government agencies that buy goods and services to produce public services or transfer the goods and services to other who need them Finally international markets consists of these buyers in other countries, including consumers, producers, resellers, and governments
customers
COMPETITORS
To succeed the completion the company should provide greater customer value and satisfaction than its competitor do i.e. adapt to the needs of the customers in the market
publics
Any group that has an actual or potential interests in or impact on an organisations ability to achieve its objectives Financial publics influence the companys ability to obtain funds Media publics carry news, features and editorial opinion Govt publics-change in govt and rules and regulations citizen-action publics-like consumer organisations Local publics-include neighborhood residents and community organisations General public-attitude of general publics towards products and its features Internal publics- include workers, managers, volunteers, and the board of directors
COMPANY
MARKETING INTERMEDIARIES
CUSTOMERS
MARKETING
SUPPLIERS
COMPETITORS
PUBLICS
Consists of larger envt and forces that shape opportunities and pose threats to the company Which is not controllable also Consist of the following: Demographic envt Economic envt Natural forces Technological forces Political forces Cultural forces
Demographic envt
The study of human populations in terms of size density location age gender race occupation and other statistics Why to consider demographic variable? Because it involves people and people make up markets
Economic environment
Factors that affect consumer buying power and spending patterns Change in income-affect the company directly Includes change in GDP and GNP Changing consumer spending patternslike for food, housing, cloth, health care
Natural envt
Natural resources that are needed as inputs by marketers or that are affected by marketing activities Like shortage of raw materials-renewable and non-renewable resources Increased pollution by the manufacturer Increased govt intervention Envtly suitable strategies
Technological environment
Forces that create new technologies Creating new product and market opportunities One of the most dramatic force shaping the destiny Like laptop computers Antibiotics Mobile phones Organ replants Internet
Political envt
Laws-regulating business and increasing legislation Govt agencies-changing govt agency And pressure groups that influence and limit various organisations and individuals in a given society Increased emphasis on ethics and socially responsible actions
Cultural envt
Persistence of cultural values Peoples view of themselves Peoples view of others Peoples vie of organisations Peoples view of society Peoples view of nature Peoples view of universe-people vary in their belief about the origin and their place in it Institutions and other forces that affect societys basic values, perceptions, preferences, and behaviours
Marketing Research
Research is the only tool an organisation has to keep in contact with its external operating environment. In order to be proactive and change with the environment simple questions need to be asked: o How are customer needs changing? Can you meet these changing needs? What do your customers think about existing products or services? o How are competitors operating within the environment? Are their strategies exceeding or influencing yours? What should you do? o How are macro and micro environmental factors influencing your organisation? Again how will you react?
Definition of MR
Marketing research is defined as the systematic design, collection ,analysis, and reporting of data relevant to specific marketing situation facing an organisation
Steps of research
Defining the problem and research objective Developing the research plan for collecting information Implementing the research plan collecting and analysing the data Interpreting and reporting the findings
Types of objectives in MR
Exploratory research-marketing research to gather preliminary information that will help define problems and suggest hypothesis Descriptive research-marketing research to better describe marketing problems, situations, or markets, such as the market potential for a product or the demographics and attitudes of consumers Casual research- marketing research to test hypothesis about cause-and- effect relationships
Collecting of data
Secondary data-info that already exists somewhere, having been collected for another purpose Primary data-info collected for the specific purpose at hand
Observational research
Gathering of primary data by observing relevant people, actions, and situations
Survey research
The gathering of primary data by asking people questions about their knowledge , attitudes, preferences, and buying behaviour
How to contact
Mail Telephone And personal interview Focus group interview
What is a sample?
A segment of the population selected for marketing research to represent the population as a whole
Types of sample
Probability sample
Simple random sample-every member of the population has a known and equal chance of selection Stratified random sample-the population is divided into mutually exclusive groups (such as age groups) and random samples are drawn from each group Cluster (area) sample-the population is divided into mutually exclusive groups (such as blocks), and the researcher draws a sample of the groups to interview
Nonprobability sample
Convenience sample-the researcher selects the easiest population members from which to obtain information Judgment sample-the researcher uses his or her judgment to select population members who are good prospects for a accurate information Quota sample-the researcher finds and interviews a prescribed number of people in each of several categories
Research instruments
Used in collecting primary data Questionnaire And mechanical devices-cameras, ATM screen Questionnaire is the most common instrument Two types of questions used-closed ended and open ended
Characteristics of a Service
Lack of ownership Intangibility Inseparability Perishability Heterogeneity
PRODUCT
Service mix
PRICE
PEOPLE
PHYSICAL EVIDENCE
PROCESS
PROMOTION
PLACE